16. The ___________ is completed before recording and posting the end-of-period adjusting entries. (Points : 2) Adjusted trial balance Cash disbursements journal Unadjusted trial balance Cash receipts journal

Question 17. 17. When creating a new company, you choose whether to post transactions in a batch or in real time on the: (Points : 2)

Company Information screen Accounting Method screen Posting Method screen Accounting Periods screen

Question 18. 18. When merchandising businesses make purchases on account from vendors, it is known as: (Points : 2)

Accounts receivable transactions Accounts payable transactions General ledger transactions Income statement transactions

Question 19. 19. When selecting a method to create your company, all of the following are options except: (Points : 2)

Convert a company previously saved with QuickBooks Build your own chart of accounts Covert a company from another accounting program Use a sample business type that closely matches your company

Question 20. 20. You begin creating a new company by selecting the following commands on the main menu: (Points : 2)

File>>New Company File>>Company File>>New Company Setup File>>Setup>>New Company

Question 21. 21. When choosing a posting method, selecting real time means that: (Points : 2)

Transactions are posted when saved Transactions are recognized when paid Transactions are saved to batches and posted later None of the above

Question 22. 22. The Write Checks window automatically debits the following account: (Points : 2)

Account No. 1020 Checking Account The Expense Account The Cash Account Account No. 1040, IRA Savings

Question 23. 23. To record checks, you need to: (Points : 2)

Select Cash Account Select Accounts Payable Account Set discount defaults Select Maintain Chart of Accounts

Question 24. 24. To record a deposit, you can make the following selections: (Points : 2)

From the System Navigation Center, select Backup Now From the Banking Navigation Center, select Write Checks From the menu bar, select Tasks Receipts From the System Navigation Center, select Restore Now

Question 25. 25. To change accounting periods, you need to make the following menu bar selections: (Points : 2)

TasksSystemChange Accounting Period TasksDefaultChange Accounting Period TasksMaintainDefaults MaintainSystemChange Accounting Period

Question 26. 26. When creating a new company, you enter the company address in the: (Points : 2)

Company Information screen Accounting Method screen Posting Method screen Accounting Periods screen

Question 27. 27. In order for the appropriate 2-decimal places to show on windows, you need to: (Points : 2)

Select Maintain Company Info Select Company Restore Display the beginning balances Select global settings for two decimal places

Question 28. 28. In Peachtree, a backup file can be used to restore: (Points : 2)

Xls files from Excel Two companies at the same time Doc files from Microsoft Word A new companyone that has not been setup

Question 29. 29. The third step of the computer accounting cycle is to: (Points : 2)

Set up a business and select a chart of accounts Journalize entries Create a new company Print the general ledger trial balance

Question 30. 30. When choosing an accounting method, the accrual basis of accounting recognizes: (Points : 2)

Expense when paying vendors bills Expense when posting vendor bills Income when receiving customer payments All of the above