Computer accounting with quickbooks online a cloud based approach 2nd edition yacht test bank

Computer Accounting with QuickBooks Online A Cloud Based Approach 2nd Edition Yacht Test Bank Visit to download the full and correct content document: https://testbankdeal.com/dow nload/computer-accounting-with-quickbooks-online-a-cloud-based-approach-2nd-editi on-yacht-test-bank/

Chapter 6 Test Bank: December Source Documents Computer Accounting with QuickBooks Online: A Cloud-Based Approach, 2e MULTIPLE CHOICE 1.

Before completing the work within Chapter 6, check your data with the following report: a. December 1 Trial Balance. b. December 31 Trial Balance. c. November 30 P&L. d. November 1 Balance Sheet. e. None.

Answer: a (December 1 Trial Balance) Difficulty: Medium Page 257

2.

The action of sending money in payment of a bill is called a/an: a. Activity. b. Transaction. c. Remittance. d. General journal entry. e. None.

Answer: c (Remittance) Difficulty: Hard Page 254

3.

After analyzing each source document, record the appropriate __________________: a. Transfer. b. Transaction. c. Trial balance. d. Customized report. e. None.

Answer: b (Transaction) Difficulty: Medium Page 254

4.

Receiving payment from a customer is recorded in the following way: a. Customers page > select customer > Receive Payment. b. Create menu (+) > Receive Payment. c. Receive payment from the Customers page or the Create menu. d. Gear icon > Account and Settings > Advanced. e. None.

Answer: c (Receive payment from the Customers page or Create menu) Difficulty: Hard Page: 258 5.

Who sends verification of credit card receipts? a. Customers. b. Vendors. c. Clients. d. Bank. e. None.

Answer: d (Bank) Difficulty: Medium Page: 259

6.

In QBO, how are Credit Card Sales identified? a. QBO defaults to Credit Card Sales. b. As a vendor. c. As a customer. d. None. e. All. Answer: c (As a customer) Difficulty: Hard Page: 259

7.

For Credit Card Sales, what selections are made? a. Create menu (+) > Sales Receipts. b. Create menu (+) > Credit Card Credit. c. Gear > Account and Settings > Advanced. d. Gear > Manage Users. e. None.

Answer: a (Create menu (+) > Sales Receipts) Difficulty: Medium Page 259

8.

When one Network product is sold, the rate is: a. $30.00. b. $50.00.

c. $150.00. d. $300.00 e. None.

Answer: b ($50.00) Difficulty: Easy Page 266 9.

One computer is sold for: a. $500.00. b. $1,000.00 c. $900.00. d. $450.00. e. None.

Answer: b ($1,000.00) Difficulty: Easy Page: 262

10.

Identify the vendor who purchases Web servers. a. eBiz. b. Any Time Deployment. c. CloudZ Channel. d. Computers 2 You. e. None.

Answer: c (CloudZ Channel) Difficulty: Medium Page: 263

TRUE/FALSE 11. Sales receipts and remittances work together.

Answer: False. (Vendor payments include remittances.)

12. The vendor Conf/Call purchases Webinars.

Answer: True 13. One of QB Cloud’s customers is the Law Office of Williamson, Gallagher, and Katz.

Answer: True.

14. The Transaction Register in Chapter 6 lists QB Cloud’s deposits.

Answer: False. (The Transaction Register in Chapter 6 lists checks issued and ATMs.)

15. On the Sales Receipts page, select the appropriate credit card name.

Answer: True 16. To see the appropriate report balances, type the date range.

Answer: True 17. The documents shown trigger transaction analysis for vendors, inventory, customers, cash and credit card sales.

Answer: True 18. When displaying the journal, it doesn’t matter if the current year is shown for each transaction.

Answer: False (When you display the journal, make sure the current year is shown for each transaction.)

19. In Chapter 6, the Trial Balance is displayed from October 1 through December 30.

Answer: True 20. The Customer Balance Summary shows the same balance as Account 105 Accounts Receivable (A/R).

Answer: True