Navigation » List of Schools » Glendale Community College » Accounting » Accounting 120 – Computerized Accounting Systems » Fall 2022 » Midterm
Below are the questions for the exam with the choices of answers:
Question #1
A Accounts Payable Aging Summary
B Accounts Receivable Aging Detail
C Purchases by Vendor Summary
D Purchases by Item Summary
Question #2
A Receive Inventory
B Items & Services
C Invoices
D None of the choices are correct
Question #3
A Create sales receipt
B Order goods
C Receive bills
D Receive inventory
Question #4
A Report the amount received from customers in compliance with IRS regulations
B None of the choices are correct
C Report the amount paid to employees in compliance with IRS regulations
D Report the amount paid to a vendor in compliance with IRS regulations
Question #5
A Enter Purchase Order
B Make Deposit
C Receive Payments
D Pay Bills
Question #6
A Create Sales Receipts
B Make Deposit
C Receive Undeposited Funds
D Pay Bills
Question #7
A Create Invoice > Customer Payment > Customer Name Only
B Create Sales Receipt > Record Deposits
C Receive Payment > Customer & Job Name
D Make Deposit
Question #8
A Funds the company owes vendors
B Funds received from customers but not deposited in the bank
C Petty Cash funds
D Only partial payments received from customers
Question #9
A Select Customers Center > Customers & Receivables
B Select Reports Center > Company & Financials
C Select Reports Center > Customers & Receivables
D Select Company Center > Customers & Receivables
Question #10
A Create Sales Receipts
B Receive Payments
C Pay Bills
D Create Invoices
Question #11
A Accounts Receivable Aging Detail
B All of the choices are correct
C Collections Reports
D Customers with Open Invoices
Question #12
A Create Invoices
B Sales Receipts
C Create Purchase Order
D Create Estimates
Question #13
A Checks that have cleared the bank
B Deposits recorded by the bank
C Errors
D Outstanding checks
Question #14
A It is better to delete the check than void the check in order to erase all records of the transaction
B The deleted check no longer appears in the check register
C QuickBooks changes the amount deducted in the check register to zero
D All of the choices are correct
Question #15
A Accounts
B Invoices
C Purchase orders
D Checks
Question #16
A Sales taxes
B Bills entered in the Enter Bills window
C Payroll checks
D None of the choices are correct
Question #17
A Pay Employees
B Write Checks
C Record deposits
D Reconcile Checking accounts
Question #18
A Insure the debits equal credits
B None of the choices are correct
C Pay bills
D Detect errors
Question #19
A Records an expense (debit) and the obligation to pay later (credit)
B Reduces the liability (debit) and the checking account (credit)
C Reduces the liability (credit) and the checking account (debit)
D Records an expense (credit) and the obligation to pay later (debit)
Question #20
A None of the choices are correct
B Reconciled
C Debited
D Credited
Question #21
A All of the choices are correct
B All deposits listed on the bank statement are selected as cleared in the Reconcile window
C Interest earned is subtracted
D Service charges are added
Question #22
A Lists all accounts and their account numbers
B Keeps track of company deposits only
C Is located directly on the Company section of the Home Page
D Records payments and deposits to the Checking account
Question #23
A Receive bills
B Enter bills
C Pay sales tax
D Receive payments
Question #24
A Receive inventory
B Receive payments
C Create estimates
D Create invoices
Question #25
A Make deposit
B Enter bills
C Pay bills
D Pay employees
Question #26
A Check
B Invoice
C Pay Bills
D Purchase Order
Question #27
A None of the choices are correct
B Onscreen forms and QuickBooks reports
C Onscreen Journal and onscreen forms
D Onscreen Journal and QuickBooks reports
Question #28
A Write Checks
B Create Invoices
C Enter Bills
D Pay Bills
Question #29
A Pay Bills
B Enter Credit Card Charges
C Enter Bills
D Receive Payments
Question #30
A Employees
B Banking
C Customers
D Vendors
Question #31
A Select Navigation Bar > Recurring Transaction List
B Select Company section of the Home Page > Saved Transactions
C Select Lists Menu > Memorized Transaction List
D None of the choices are correct
Question #32
A Memorized transactions
B Create icon
C Repeat transactions
D Saved transactions
Question #33
A Customer List
B Item List
C Owner List
D Vendor List
Question #34
A Purchase Orders Account
B Inventory Account
C Accounts Payable Account
D Employee Expense Account
Question #35
A Owner’s contributions
B All of the choices are correct
C Assets, liabilities and owner’s equity accounts
D Income and expense accounts
Question #36
A Temporary accounts
B Equity accounts
C Permanent accounts
D None of the choices are correct
Question #37
A Income Statement accounts
B None of the choices are correct
C All the choices are correct
D
E Balance Sheet accounts
Question #38
A Edit Menu > Preferences > Employees
B Company Menu > Set Up Users and Passwords > Set Up Users
C Company Menu > Company Information
D Employees > Employee Center
Question #39
A QBM
B QBW
C QBB
D QBX
Question #40
A Customer
B Banking
C Company
D Vendor
Question #41
A Create Estimates
B Receive Inventory
C Create Invoices
D Receive Payments
Question #42
A Menus
B Icon Bar
C All of the choices are correct
D Home Page
Question #43
A Banking
B Customers and sales
C Chart of Accounts
D Vendors and expenses
Question #44
A Receive Bill
B Receive Inventory
C Create Purchase Order
D Create Invoice
Question #45
A Enter invoices
B Record credit card receipts
C View the Chart of Accounts
D Pay bills