QUESTION 2

A Bank Statement shows the checks and deposits that were cleared by the bank.

True

False

QUESTION 3

Who sends verification of credit card receipts?

The customers.

The bank

The Sellers.

Consumers.

QUESTION 4

To access the Settings menu, use this icon:

gear.

Lupa (Magnifying-glass).

Sign +.

Question mark

QUESTION 5

QBO_Student Name ____ includes an area for Credit Cards.

Profit and Loss Statement.

Statement of Cash Flows.

Trial Balance.

Bank Statement.

None of these.

QUESTION 6

Before completing the work within Chapter 6, verify your data with the following report:

Check Balance as of December 31 .

Check Balance as of December 1 (Trial Balance).

Status of Results (P&L) to November 1.

Balance Sheet as of November 1.

QUESTION 7

Who is your payroll contact?

Your teacher.

Student's first and last name.

Cindy Barber.

Mr. and Mrs. John Smith.

QUESTION 8

QBO automatically sets up default accounts for liabilities and payroll expenses.

True

False

QUESTION 9

When using QBO, ____ are unavoidable.

Custom reports.

Journal entries.

templates.

Updates

QUESTION 10

Companies that owe a large amount of payroll taxes often pay and file their returns more frequently

True

False

QUESTION 11

The QuickBooks app turns your mobile phone's camera into a receipt scan.

True

False

QUESTION 12

With the mobile app, you can:

Invade photos

Create estimates.

Add plans and contracts.

All of the above.

QUESTION 13

Payroll liability accounts are classified as expenses.

True

False

QUESTION 14

Use your mobile device to:

Post Expenses.

All of the above.

Billing customers

Enter transactions.

QUESTION 15

The QBO Blog includes the following except:

What's new in innovation.

Accounting advice and customer profiles.

Leadership in news and thought.

Mobile applications.

QUESTION 16

Using computerized accounting software, unlike traditional accounting procedures, does not require you to run a command to post from a journal to a general ledger.

True

False

QUESTION 17

Which of the following methods can be used in a computerized accounting system (select all that apply)?

Cash

Accrual

Modified Tax

Modified IFRS

QUESTION 18

An overview will not be balanced in a computerized system until a result state is prepared.

True

False

QUESTION 19

When looking at a Accounts Receivable Age report generated with accounting software and observing that 98% of customers are in the range of 0 to 30 days, you would do nothing about it.

True

False

QUESTION 20

As an accountant for ABC, you believe there may be fake invoices entered into the computerized accounting system. Where would you look to verify the invoices?

The checkbook.

In the Income Statement.

In Vendor Profile profiles.

In Accounts receivable reports.