The Checking Register

$2$ pc

A$)$ Tracks company purchase orders and vendors

B$)$ Tracks company invoices and customers

C$)$ Records all transactions affecting the Checking account

D$)$ Lists all accounts and their account numbers

$15.$

If we are paying a bill immediately when we receive products or services, we can use the Expenses onscreen form when we pay with:

A$)$ Cash

B$)$ Check

C$)$ Credit card

D$)$ All of the above

$16.$

One of the objectives of reconciling bank statement is$?$

A$)$ To update the bank $\text{'}$s records

B$)$ Update accounting records with unrecorded items

C$)$ To record monthly adjusting entries

D$)$ To update the Chart of Accounts

$17.$

When a customer pays cash at the time of sale, what do you record?

A$)$ A sales receipt

B$)$ An invoice

C$)$ A purchase order

D$)$ A thank you note

$18.$

When a customer purchases products or service but does not pay at the point of sale, what do you record?

A$)$ A sales receipt

B$)$ An Invoice

C$)$ A purchase order

D$)$ A reminder

$19.$

When a sale is recorded on an Invoice, QBO records a$?$

$2$ pc

A$)$ Debit $($increase$)$ to cash

B$)$ Credit $($increase$)$ to owners contribution

C$)$ Debit $($increase$)$ to accounts receivable

D$)$ Credit $($increase$)$ to accounts payable

$20.$

Accounts Receivable $($A$/$R$)$ are?

A$)$ Amounts totaling the net worth of a company

B$)$ Amounts paid to owners

C$)$ Amounts that customers owe your business

D$)$ Amounts owed to others and are future obligations