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Multiple Choice Quiz
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1

QuickBooks considers all of the following to be vendors except:
A)Suppliers of inventory or supplies
B)Consumers who purchase goods and services from your company
C)Service companies that provide services to your company
D)Tax agencies such as the IRS
2

Which one of the following is not a vendor transaction?
A)Set up inventory
B)Order goods
C)Receive bills
D)Making deposits
3

The Enter Bills window is used to record which one of the following transactions?
A)Owner's investment
B)Cash purchases of supplies
C)Services received but not yet paid
D)Items sold to customers
4

Which of the following activities and the QuickBooks Window used to record it is incorrect?
A)Order goods; Purchase Order
B)Receive goods; Item List
C)Sell goods and bill customers; Invoice
D)Record inventory information; Item List
5

Which one of the following activities is not associated with the Vendor section of the Home Page?
A)Pay Sales Taxes
B)Purchase Orders
C)Create Invoices
D)Enter Bills
6

Which one of the following is not usually classified as a non-inventory item?
A)Items purchased and the quantity on hand does not need to be tracked
B)Items purchased and used by the company such as office supplies
C)Items purchased for a specific customer job
D)Goods purchased for resale to customers
7

Recording a purchase of goods using QuickBooks involves all of the following steps except:
A)Create purchase order to order items from vendor
B)Create invoice order to bill customers for purchases
C)Receive bill and record obligation to pay vendor later
D)Receive item and record as an inventory or non-inventory part
8

Which one of the following is used to order goods?
A)Purchase Requisition
B)Purchase Order
C)Invoice
D)Bill
9

Which one of the following reports helps track past due bills and bills that will be due shortly?
A)Accounts Payable Aging Summary
B)Customer Aging Summary
C)Vendor Aging Report
D)Accounts Receivable Aging Summary
10

The Physical Inventory Worksheet is used when:
A)the computers go down
B)inventory items are physically placed in the warehouse
C)vendors offer a purchase discount on inventory items
D)taking a physical count of inventory on hand





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