Question 1 (1 point)

How can you fund a petty cash account?

Question 1 options:

	Remove cash from the till when needed
	Keep cash back from a deposit
	Transfer money from another account
	Both a and b

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Question 2 (1 point)

What QuickBooks feature allows you to easily enter transactions that are repeated?

Question 2 options:

	Auto Entry
	Efficiency Tracking
	Memorizing Transactions
	Register Recording

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Question 3 (1 point)

In a sole proprietorship, equity is what shareholders have invested in the company.

Question 3 options:

	True
	False

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Question 4 (1 point)

You must record the depreciation of your assets monthly.

Question 4 options:

	True
	False

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Question 5 (1 point)

The QuickBooks Loan Manager allows you to set up loans for which type of account?

Question 5 options:

	Other Expense
	Long Term Liability
	Both a and c
	Other Current Liability

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Question 6 (1 point)

Which of the following is an Other Current Asset account?

Question 6 options:

	Land
	Prepaid Rent
	Checking
	Money Market

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Question 7 (1 point)

QuickBooks creates the _____ account for you so you have a working balance sheet account from the start.

Question 7 options:

	Ownern's Equity
	Opening Balance Equity
	Retained Earnings
	Accounts Receivable

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Question 8 (1 point)

Which balance sheet account type is used for assets you DO NOT plan to convert to cash within one year?

Question 8 options:

	Other Current Assets
	Long Term Liabilities
	Fixed Assets
	Equity

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Question 9 (1 point)

A fixed asset is an example of a contra account.

Question 9 options:

	True
	False

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Question 10 (1 point)

When you memorize a transaction, QuickBooks always automatically enters it for you.

Question 10 options:

	True
	False

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