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Multiple Choice Quiz
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1

The Check Register:
A)Lists all accounts and their account numbers
B)Is located directly on the Company Navigation Bar
C)Keeps track of the company purchase orders and vendors
D)Records all transactions affecting the Checking account
2

All of the following tasks can be completed in the Banking section of the Home page except:
A)Write Checks
B)Receive Items
C)Make deposits
D)Reconcile accounts
3

Deposits of customer payments are recorded using the _________ section of the Home Page.
A)Company
B)Vendor
C)Banking
D)Customer
4

In the Make Deposits window, what account is selected when recording an investment by the owner of a Sole Proprietorship?
A)Owner's Income
B)Checking
C)Undeposited Funds
D)Owner's Equity Contribution
5

Which one of the following activities is associated with the Banking section of the Home Page?
A)Create invoices to bill customers
B)Create purchase orders
C)Write Checks
D)Record the bill when received and pay later
6

The one-step approach (Write Checks window) should not be used to pay the following:
A)Sales taxes
B)Expenses, such as rent, utilities, and insurance
C)Bills for non-inventory items, such as office supplies
D)Bills for services, such as accounting or legal services
7

Nonsales receipts include all of the following except
A)Cash received from loans
B)Payments from customers
C)Investments from owners
D)Interest earned
8

When voiding a check:
A)QuickBooks changes the amount deducted in the check register to zero
B)The voided check no longer appears in the check register
C)It is better to Delete the check to erase all record of the transaction
D)Select the Edit Transaction button in the Checking window
9

When reconciling a bank account, which one of the following is not considered a timing difference (difference between the bank balance and the book balance)?
A)Interest earned
B)Deposits in transit
C)Errors
D)Unrecorded charges
10

One of the objectives of a bank reconciliation is:
A)To detect errors
B)To record monthly adjusting entries
C)To update the chart of accounts
D)To update the bank's records





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