Accounting Information Systems Practice Exam
Course Introduction
Accounting Information Systems explores the integration of information technology with accounting processes to support financial and managerial decision-making. This course covers the design, implementation, and management of accounting systems, focusing on topics such as internal controls, transaction cycles, data security, and the role of databases in organizing financial information. Students will learn to analyze business processes, evaluate risks, and use software tools to process, store, and report accounting data, preparing them to manage and audit information systems in a modern business environment.
Recommended Textbook
Computer Accounting With Quickbooks Pro 2011 13th Edition by Donna Kay
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12 Chapters
338 Verified Questions
338 Flashcards
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Page 2
Chapter 1: Quick Tour of Quickbooks 2011
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68276
Sample Questions
Q1) List the 3 (three) different type of QuickBooks files.What is the purpose of each file type?
Answer: The three QuickBooks file types are:
.QBW file - This is the regular company file that has a .QBW extension.It is a QuickBooks working file that is usually saved to the hard drive (C:) of your computer.
.QBB file - This is a QuickBooks backup file.You can save a backup file to the hard drive or to other media such as USB drive or memory stick, a CD drive or a network drive.Backup files are compressed files and used only if the working file (.QBW) file fails.
.QBM file - This is a QuickBooks movable file, also called a portable file.These files are compressed and are used to email or move a company file to another computer.
.QBX and .QBA - These are files used by accountants.
Q2) Accounting information is used to do all of the following except:
A)Prepare financial statements for investors
B)Prepare tax returns for the IRS
C)Prepare reports for management
D)Prepare meeting minutes for the board of directors
Answer: D
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Page 3
Chapter 2: Customizing Quickbooks and the Chart of Accounts
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27 Verified Questions
27 Flashcards
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Sample Questions
Q1) Which of the following increases owner's equity?
A)Dividends
B)Business losses
C)Business expenses
D)Business profits
Answer: D
Q2) What does the QuickBooks Company Snapshot provide?
Answer: The QuickBooks Company Snapshot provides a digital dashboard for your company.The Company Snapshot gives you an overview of key information for your company and allows you perform key tasks.
Q3) To add a new account to the Chart of Accounts:
A)From the Chart of Accounts window, select Account, New
B)From the Company menu, select New Account
C)From the Chart of Accounts menu, select New Account
D)From the Lists menu, select New Account
Answer: A
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Chapter 3: Banking
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27 Flashcards
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Sample Questions
Q1) When reconciling a bank account, which one of the following is considered a timing difference (difference between the bank balance and the book balance)?
A)Checks that have cleared the bank
B)Deposits recorded by the bank
C)Outstanding checks
D)Errors
Answer: C
Q2) Check Register is a record of all transactions affecting the __________.
A)Payroll account
B)Petty cash account
C)Checking account
D)Taxes payable account
Answer: C
Q3) All the following are nonsales type of deposit except:
A)Money received from a loan
B)Payment from a customer
C)Cash from investors
D)Interest earned
Answer: B
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Page 5
Chapter 4: Customers and Sales
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27 Verified Questions
27 Flashcards
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Sample Questions
Q1) A Reminder Statement provides the following information, except:
A)Purchase Order details
B)Customer's previous account balance
C)Payments received from the customer
D)Customer's ending balance
Q2) Which one of the following activities is not shown in the Customer section of the Home page?
A)Make Deposit
B)Receive Payments
C)Create Estimates
D)All of the above
Q3) Which report provides information on customers who have overdue accounts?
A)Accounts Receivable Aging Summary
B)Accounts Receivable Aging Detail
C)Customers with Open Invoices
D)Collections Report
Short Answer Questions
Q4) Name 3 (three) reasons why a job for a customer might be "pending".
Q5) Briefly explain the difference between creating a sales receipt and creating an invoice.
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Chapter 5: Vendors, Purchases, and Inventory
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27 Verified Questions
27 Flashcards
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Sample Questions
Q1) Which of the following activities and QuickBooks window used to record it is incorrect?
A)Sell goods and bill customers; Invoice
B)Record inventory information; Inventory List
C)Record vendor information; Vendor List
D)Order goods; Purchase Order
Q2) Which report summarizes accounts payable balances by the age of the account?
A)Accounts Payable Aging Detail
B)Accounts Payable Aging Summary
C)Purchases by Vendor Summary
D)Purchases by Item Summary
Q3) Which of the following reports is typically used when counting inventory on hand?
A)Inventory Valuation Summary
B)Inventory Valuation Detail
C)Inventory Stock Status by Item
D)Physical Inventory Worksheet
Q4) What are Inventory Items, Non-inventory items, and Services? Provide examples.
Q5) Briefly describe how sales tax payments flow from customers to government entities.
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Chapter 6: Employees and Payroll
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Sample Questions
Q1) What QuickBooks activity comes next in this string of payroll activities: Enter Time > Pay Employees > ______ > Process Payroll Forms
A)Reconcile Payroll
B)Print Payroll Report
C)Pay Payroll Liabilities
D)None of the above
Q2) What is purpose of Federal Form 490?
A)Summarize the amount of unemployment tax paid and due by the company
B)Summarize the amount of federal income tax, Social Security, and Medicare withheld from employee paychecks for the quarter
C)Summarize the amount of federal income tax, Social Security, and Medicare withheld from employee paychecks for the year
D)Summarize all your W-2 forms
Q3) The following are payroll liabilities except
A)Federal income taxes
B)Unemployment taxes
C)Sales taxes
D)FICA
Q4) Name 3 (three) types of payroll liabilities and indicate who funds each one.
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Chapter 7: Reports and Graphs
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27 Flashcards
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Sample Questions
Q1) Examples of management reports for internal decision making include all of the following except:
A)1120S Report
B)Cash Budget
C)Cash Forecast
D)Accounts Receivable Aging Summary
Q2) Which one of the following classifications is found on the Statement of Cash Flows?
A)Cash Flows from Financing Activities
B)Cash Flows from Purchasing Activities
C)Cash Flows from Owner's Activities
D)Cash Flows from Selling Activities
Q3) The General Ledger:
A)Is always provided to external users for decision making
B)Provides the quickest way to communicate financial information
C)Is a collection of all of the company's accounts and account activity
D)None of the above
Q4) What is the difference between the cash basis and the accrual basis?
Q5) Briefly explain 2 (two) differences between depreciation on a tax return and on a financial statement.
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Chapter 8: New Company Setup
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Sample Questions
Q1) Which tax form would you select for a Partnership?
A.Form 1120
B.Form 1120S
C.Form 1065
D.Form 1040S
Q2) The Vendor List contains information about:
A)Addresses, contacts and phone numbers of customers
B)Addresses, contacts and phone numbers for suppliers
C)Quantities and prices of items on hand
D)All of the above
Q3) To customize QuickBooks after creating a company file you would:
A)Enter additional company information
B)Set QuickBooks preferences
C)Customize the Chart of Accounts
D)All the above
Q4) List 3 (three) questions asked by the QuickBooks EasyStep Interview. "Do you accept credit cards?" "Do you charge sales tax?" and "Would you like to add an existing bank account?"
Q5) Name 4 (four) accounts that would commonly be used for a service company and identify the account type for each.
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Chapter 9: Accounting for a Service Company
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Sample Questions
Q1) Briefly explain the difference between a permanent and a temporary account.
Q2) When you record the receipt of a customer payment QuickBooks reduces _______ and increases ________.
A)Bank Account, Accounts Receivable
B)Accounts Payable, Undeposited Funds
C)Accounts Receivable, Undeposited Funds
D)Accounts Receivable, Bank Account
Q3) Before making adjusting entries you must:
A)Close permanent accounts
B)Print the trial balance
C)Close temporary accounts
D)Print the balance sheet
Q4) The following are examples of possible memorized transactions except:
A)Rent payments
B)Utility bills
C)Special order for a customer
D)None of the above
Short Answer Questions
Q5) Briefly explain how to record an owner's investment in their company.
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Chapter 10: Merchandising Corporation: Sales, Purchases and Inventory
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Sample Questions
Q1) When recording the sale of a product, which account is decreased?
A)Inventory
B)Accounts Receivable
C)Notes Payable
D)None of the above
Q2) If the supplies on hand at the end of January totaled $200 and the Supplies on Hand account before adjustment is $900, what would be the adjustment at month-end?
A)Reduce supplies on hand by $700; increase supplies expense by $700
B)Increase supplies on hand by $900; reduce supplies expense by $900
C)Reduce supplies on hand by $200; increase supplies expense by $200
D)Increase supplies on hand by $200; reduce supplies expense by $200
Q3) After creating a new QuickBooks data file for an existing company and entering all the existing balances, use an opening adjustment to move the balance in the _________ account to the Capital Stock account.
A)Uncategorized Expenses
B)Uncategorized Income
C)Opening Balance Equity
D)None of the above
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Chapter 11: Merchandising Corporation: Payroll
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Sample Questions
Q1) When standard checks are used for pay checks, paystubs are printed by selecting:
A)Employee menu > Print Pay Stubs
B)File menu > Print Forms > Pay Stubs
C)Banking menu > Print Forms > Pay Stubs
D)Company menu > Print Checks > Pay Stubs
Q2) Briefly describe how you manually process payroll forms.
Q3) Which icon is not in the Employees section of the Home page when a company file is set to use manual payroll calculations?
A)Enter Time
B)Pay Employees
C)Pay Liabilities
D)Payroll Forms
Q4) The day the check is prepared is the:
A)Check Date
B)Pay Period End Date
C)The last day the employee works in the pay period
D)The last day of the pay period
Q5) List 3 (three) types for payroll liabilities and who is responsible for funding them.
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Chapter 12: Advanced Quickbooks Features for Accountants
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27 Flashcards
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Sample Questions
Q1) You would use which QuickBooks feature to prepare a bid for a potential customer?
A)Progress Billing
B)Estimates
C)Enter Bills
D)Invoice
Q2) The Client Data Review:
A)Helps a merchandising company track inventory
B)Helps an accountant find discrepancies between the financial statements and account balances
C)Identifies payments and credits applied to bills
D)All of the above
Short Answer Questions
Q3) The Doc Center:
A)Is a subscription service provided by QuickBooks
B)Enables you to organize your accounting and business documents within the QuickBooks software
C)Allows you to attach an electronic version of a document to a QuickBooks transaction
D)All of the above
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