A bill from a vendor is considered a(n) a. liability. b. transaction. c. debit. d. account. 27. Vendor activities in QuickBooks Online use the a. Write Checks, Enter Invoices, and Pay Vendors windows. b. Enter Vendors, Record Accounts, and Check windows. c. Pay Bills, Journal, and Check windows. d. Bill, Pay Bills, and Check windows. 28. When you enter a bill from a vendor, QuickBooks Online a. requires you to enter the default account numbers. b. automatically credits the Accounts Payable account. c. automatically decreases the Cash account. d. automatically debits the Accounts Payable account. 29. In QuickBooks Online, which window is used to record a purchase on account? a. Bill b. Invoice c. Pay Bills d. Check 30. A purchase on account a. is posted to the Accounts Payable account by default. b. is the same as a credit memo. c. is not included in vendor reports. d. must be immediately paid. 31. A vendor credit reduces a. the amount of time you have to pay the vendor. b. your accounts receivable balance. c. your inventory. d. the balance owed to the vendor.

32. Payments on accounts are recorded in the a. Pay Bills window. b. Check window. c. Chart of Accounts window. d. Journal window. 33. Payment on account a. must always be paid in full. b. is payment of an outstanding account payable. c. does not include partial payments. d. is payment of a bill not previously recorded. 34. In QuickBooks Online, the Pay Bills window is used a. to pay bills not previously recorded in the Bill window. b. to write checks. c. to record a payment on account. d. only to record cash payments. 35. The Pay Bills window is for activities identified as a. payments of outstanding accounts payable. b. payments not in the form of check, credit card, or online payment. c. cash purchases. d. purchases on account. 36. Click the _____ icon in the Check window to review recent payments recorded there and in the Pay Bills window. a. Create b. Gear c. Payments d. Recent Transactions 37. The Journal Report displays a. only accounts receivable transactions. b. only accounts payable transactions. c. all invoices and purchase orders for the last month. d. all transactions recorded during a specified period of time. 38. The Vendor Balance Detail Report shows a. all transactions tracked through accounts payable in chronological order. b. open bills for all vendors in alphabetical order. c. all vendor balances in alphabetical order. d. all vendor-related transactions in chronological order. 39. A customer is a person or business a. to which a company sells goods or services, either on account or for cash. b. who sells goods or services to a company. c. to which a company buys from and sells services. d. a company buys goods or services from, either on account or for cash.

40. The collection of all customer files comprises the a. Customer List. b. Company File. c. Transaction tab. d. Vendor List. 41. Which of the following is not a customer transaction? a. writing a check b. making a cash sale c. receiving payment from a customer d. creating an invoice for a customer 42. When a company creates an invoice for goods or services, the invoice is recorded in the a. Invoice window. b. Sales Receipts window. c. Accounts Payable Ledger. d. Chart of Accounts List. 43. To view the Customers window, click ________ on the Navigation bar and then click ________. a. Sales; Invoices b. Customers; List c. Sales; Customers d. Expenses; Customers 44. Which of the following is not one of the tabs used to collect information in the Customer information window? a. Payment and billing b. Vendor info c. Tax info d. Address 45. The third level of operation for customers includes a. preparing customer reports. b. backing up the company file. c. creating an invoice for a sale on account. d. updating the Customer List. 46. A sale on account occurs when a. a company sells goods or services to a customer but does not receive payment until a future date. b. a sale is made for which payment is received immediately. c. any item of inventory is sold. d. a company buys goods or services and pays for them immediately. 47. When a customer pays an invoice, the company enters this transaction in the a. Deposit window. b. Receive Payment window. c. Check Register. d. Sales Receipt window.

48. This field in the Receive Payment window is used to record a check number or credit card transaction number. a. Deposit to b. Reference no. c. Payment method d. Payment date 49. In QuickBooks Online, the Sales Receipt window is used for a. all sales of goods and services. b. payment of an invoice. c. sales on account. d. all cash sales of goods and services. 50. When payment for merchandise is received immediately, it is called a(n) a. collection of accounts receivable. b. sale on account. c. cash sale. d. invoice