Quickbooks Final Exam with complete
solutions
The _____ basis of accounting matches income for the period against expenses for the
period? - Answer- Accrual
To change a column width in a report without changing the size of the print, you must? -
Answer- Print the Report in landscape orientation
use Fit Report to one page wide option
change the column width manually
All of the Above
If an invoice is ______, it will not show up in the Customer Balance Detail Report? -
Answer- Deleted
Adjustments for accrual basis accounting generally include adjustments to ______? -
Answer- Office Supplies
A discount received for a purchase of an inventory item is recorded in the _____
account? - Answer- Cost of Goods Sold account: Merchandise Discounts
If a customer has a balance for an amount owed and a return is made, a credit memo is
prepared and _____? - Answer- the amount of the return may be applied to the balance
owed for the invoice
The Make Payment dialog box appears on the screen_____? - Answer- after the credit
card reconciliation is complete
The _____ item must appear before the Nonprofit Discount item on an invoice in order
for Quickbooks to calculate the sales discount on the entire sale? - Answer- Subtotal
If reports are prepared as of January 31 of the current year, net income will appear in
the _________? - Answer- Profit & Loss Statement
Balance Sheet
Both A and B
If an invoice is entered and causes a customers account to exceed its limit,
Quickbooks____? - Answer- provides a dialog box allowing you to approve the
transaction
