I need help for this :question

1....You are applying for a business loan. The two reports that your loan officer is most likely to require are:

• Transaction Detail Report and Accrual Basis Report
• Income Statement (Profit and Loss Statement) and Transaction Detail Report
• Income Statement (Profit and Loss Statement) and Balance Sheet Report
• Transaction Detail Report and Cash Basis Report

2.In QuickBooks, 'Units of Measure' is used to define:

• Whether QuickBooks will use Imperial or Metric measurements
• Whether items will be purchased and sold in different currencies
• The number of units that will typically be included on an invoice
• Whether items are typically bought in different measurement units than they are and sold in

3. Why does QuickBooks recommend that you print out each reconciliation report?

• It is faster to find a hard-copy report than to generate an electronic report
• It is required by the CRA (Canada Revenue Agency)
• It is easier to match transactions to the bank statement
• To provide a permanent record. QuickBooks Pro overwrites the previous
• reconciliation report with data from the latest reconciliation

4. Which of the following would represent a statement that a company would likely not receive from their financial institution to perform a reconciliation in QuickBooks?

• Credit card statement
• Mortgage statement
• Chequing Account statement
• Savings Account statement

5. 'Accumulated depreciation' is typically what kind of account in QuickBooks:

• A subaccount of a fixed asset account
• A subaccount of a current asset account
• An expense account
• a subaccount of a liability account

6. Match the information on the left with the appropriate account-type on the right:

• Retained Earnings
• Advertising
• Accounts Payable
• Sales Revenue
• Inventory
• Delivery Truck
• Building Loan
• 1. Fixed Asset
• 2. Current Liability
• 3. Equity
• 4. Expense
• 5. Long-Term Liability 6. Current Asset
• 7. Income

7. QuickBooks allows users to setup different 'on-screen' and 'printed' versions of salesforms.

1. True
2. False

8..Which of the following forms can price levels not be used on?

1. Invoice
2. Bill
3. Sales Receipt
4. Credit Memo
5. None of the above

9....A customer has 3 outstanding jobs and makes a partial payment. In QuickBooks, that payment:

1. Must be applied to the first job taken on for that customer
2. Must be applied to the last job taken on for that customer
3. Can be applied to one specific or split between any combination of jobs
4. Cannot be applied against that customer until full payment is received

10 QuickBooks can handle which of the following types of payment scenarios:

1. Prepayment of a product or service
2. Down payment towards a product or service
3. Overpayments from a customer
4. Partial payments from a customer
5. All of the above

11....Why would you uncheck the 'Bill Received' checkboxwhen entering a bill on the'Enter Bills' Screen?

1. To keep inventory up to date when you have received items but have not received the corresponding bill
2. When you do not want the bill to be printed
3. If there is a discrepancy between the bill received and your expectations
4. If you are not planning on paying the bill until closer to its due date
5. All of the above