I - Choose the best answer for the following questions: (7 points)* 1) New accounts are added from the Chart of Accounts. Chart of Accounts cannot be accessed from one of the following:
a. On the Home Page, the Chart Of Accounts Icon b. On the List menu, Chart of Accounts c. On the Company menu, Company information d. On the keyboard shortcut, click Ctrl +A
2) We can add any of the icons from the home page for easy access, if the form is displayed on the screen. If a Receipts form is displayed and you want it to be added to the Icon bar:
a. You go to the List menu and click “Memorized transaction List” to Icon bar b. You go to the view menu and click add “Enter Sales Receipts” to Icon Bar c. You go to Edit menu and click “Memorize Sales Receipts” to Icon Bar d. You go to the keyboard shortcut and click “Ctrl + N”
3) You can add a new customer records from several locations in QuickBooks. a. Go to Customer center – New customer & Job icon – New customer b. Go to the keyboard and click “Ctrl + N” c. Go to any form in Customer section – Customer: Job – write name of customer – Setup d. All of the above
4) Businesses frequently ask customers to pay a deposit when they make a purchase on account. This deposit can serve one of the following purposes businesses:
a. They help the customer to proceed with the purchase b. It helps the business to ensure that the order is confirmed and will make the items ready c. They reduce the final amount owing so that the customer would not exceed credit limit d. “a” and “c” are correct
5) One of the following is not true about customer prepayments (Customer deposits) a. As the payment is not applied to an outstanding invoice, the entire cheque amount is displayed as overpayment
b. Prepayments are entered on the Receive Payments Form c. When you enter a customer prepayment, an outstanding invoice is selected for payment