Computerized Bookkeeping Practice Exam
Course Introduction
Computerized Bookkeeping introduces students to the principles and practices of maintaining financial records using accounting software. The course covers essential topics such as setting up company files, recording transactions, managing accounts payable and receivable, payroll processing, and generating financial reports. Through hands-on experience with industry-standard software, students learn to streamline bookkeeping tasks, ensure accuracy in financial data, and comply with regulatory standards. This course prepares learners for modern accounting environments where computerized systems are integral to efficient business operations.
Recommended Textbook
Computer Accounting with QuickBooks 2015 17th Edition by Donna Kay
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12 Chapters
340 Verified Questions
340 Flashcards
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Page 2
Chapter 1: Quick Tour of Quickbooks 2011
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/68288
Sample Questions
Q1) Which of the following tasks is completed from the Banking section of the Home page?
A)Enter credit card charges
B)Pay employees
C)Record bills paid
D)Record payments received from customers
Answer: A
Q2) The QuickBooks file extension .QBM indicates the file is a:
A)QuickBooks working file
B)QuickBooks movable file
C)QuickBooks Accountant's transfer file
D)QuickBooks Accountant's working file
Answer: B
Q3) In QuickBooks, how do you enter transaction information?
A)Onscreen forms and scanned images of transaction forms
B)Onscreen forms and QuickBooks reports
C)Onscreen Journal and scanned images of transaction forms
D)Onscreen Journal and Onscreen Forms
Answer: D
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Chapter 2: Customizing Quickbooks and the Chart of Accounts
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29 Verified Questions
29 Flashcards
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Sample Questions
Q1) What are assets?
A)Resources that a company owns with future benefit
B)Net worth of a company
C)Amounts paid to owners
D)Amounts owed to others and are future obligations
Answer: A
Q2) Which of the following increases owner's equity?
A)Dividends
B)Business losses
C)Business expenses
D)Business profits
Answer: D
Q3) What is the purpose of a non-posting account?
A)To calculate income.
B)To track information necessary to the accounting information system.
C)To calculate expenses.
D)To identify owner's equity.
Answer: B
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Chapter 3: Banking
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29 Verified Questions
29 Flashcards
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Sample Questions
Q1) Examples of undeposited funds are:
A)Interest earned on the Checking account
B)Customer payments recorded as received but not yet deposited
C)Bank service charges
D)Owner's investment
Answer: B
Q2) The one-step approach (Write Checks window) can be used to pay which of the following?
A)Sales taxes
B)Bills entered in the Enter Bills window
C)Payroll checks
D)None of these
Answer: D
Q3) Which one of the following activities is associated with the Banking section of the Home page?
A)Enter credit card charges
B)Select bills received to pay later
C)Record finance charges
D)Create invoices to bill customers
Answer: A
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Chapter 4: Customers and Sales
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35 Verified Questions
35 Flashcards
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Sample Questions
Q1) 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
Q2) From the Customers Section, "Create Credit Memos/Refunds" allows you to:
A)Record a refund or credit to a vendor account for returned or damaged merchandise
B)Record a refund or credit to a customer account for returned or damaged merchandise
C)Prepare a billing statement for a customer
D)All of these
Q3) The Undeposited Funds account:
A)Partial payments received from customers
B)Holds funds received but not deposited in the bank
C)Funds the company owes vendors
D)Petty Cash funds
Q4) Name 3 (three) reasons why a job for a customer might be "pending".
Q5) Name 3 (three) reasons why a job for a customer might be "pending".
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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 one of the following is a customer transaction?
A)Record Customer Information
B)Receive Customer Payments
C)Sell Goods to Customers
D)All of these
Q2) 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
Q3) If you received inventory without a bill, once the bill has arrived you could do all of the following, except:
A)Enter the bill against the inventory already recorded
B)Enter the inventory and then enter the bill separately
C)Enter the bill and wait for the inventory to arrive
D)Enter the inventory and bill at the same time
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) Briefly describe what the "Time by Job" project reports tell management.
Q2) To include a charge for labor on an invoice, labor as a service item must be recorded in the:
A)Item List
B)Vendor List
C)Inventory List
D)Employee List
Q3) In QuickBooks, time data is listed on customer invoices using the:
A)Timesheet icon
B)Pay Sales Taxes icon
C)Pay Employees button
D)Time/Costs button
Q4) The following are payroll liabilities except:
A)Federal income taxes
B)Unemployment taxes
C)Sales taxes
D)FICA
Q5) 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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29 Flashcards
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Sample Questions
Q1) What is an asset?
A)What remains after the liabilities are satisfied
B)What a company owes
C)What a company owns
D)What a company has after expenses are removed
Q2) Providing information to external users' decision making is the purpose of which of the following?
A)Management Reports
B)Tax forms
C)Financial statements
D)Inventory reports
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 these
Q4) Briefly explain 2 (two) differences between depreciation on a tax return and on a financial statement.
Q5) What is the difference between the cash basis and the accrual basis?
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Chapter 8: New Company Setup
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28 Flashcards
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Sample Questions
Q1) The steps to set up a new service company in QuickBooks with no employees are:
A)Easy Step Interview > Customer List > Vendor List > Item List
B)Setup Chart of Accounts > Easy Step Interview > Customer List > Vendor List > Item List
C)Easy Step Interview > Customize Chart of Accounts > Customer List > Vendor List > Item List
D)Easy Step Interview > Customer List > Vendor List > Item List > Customize Chart of Accounts
Q2) To create a new company data file in QuickBooks, use the:
A)Company menu > New Company
B)Company section of the Home page > New Company
C)File menu > Open or Copy Company
D)File menu > New Company
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 of these
Q4) 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) When closing the accounting period you:
A)Close temporary accounts at year end
B)Bring account balances up to date at year end
C)Close permanent accounts at year-end
D)All of these
Q2) To create a memorized transaction for a utility bill, first enter the transaction in QuickBooks, then click:
A)Transactions menu > Memorize
B)Enter Bills icon in the Vendors section of the Home Page> Memorize
C)Vendors menu of Home Page > Memorize
D)Lists menu >Vendors> Reminders
Q3) Credit sales are recorded using the _________ window.
A)Make Deposits
B)Sales Receipts
C)Create Invoices
D)Receive Items
Q4) Briefly explain the difference between a permanent and a temporary account.
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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27 Verified Questions
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Sample Questions
Q1) When creating a new QuickBooks data file for an existing company, QuickBooks automatically offsets accounts receivable balances with an entry to the:
A)Uncategorized Expenses account
B)Uncategorized Income account
C)Opening Balance Equity account
D)Capital Stock account
Q2) When creating a new QuickBooks data file for an existing company, QuickBooks automatically offsets accounts payable balances with an entry to the:
A)Uncategorized Expenses account
B)Uncategorized Income account
C)Opening Balance Equity account
D)Capital Stock account
Q3) 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
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Chapter 11: Merchandising Corporation: Payroll
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27 Verified Questions
27 Flashcards
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Sample Questions
Q1) Withholdings from an employee paycheck are recorded as:
A)Payroll expense
B)Payroll liabilities
C)Payroll asset
D)Payroll revenue
Q2) The Payroll Summary report:
A)Summarizes the amounts paid to employees
B)Summarizes the amounts paid in payroll taxes
C)May be accessed using the Reports Center
D)All of these
Q3) Which order are payroll tasks typically completed?
A)Enter Time > Process Payroll Forms > Pay Employees > Pay Payroll Liabilities
B)Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms
C)Enter Time > Pay Payroll Liabilities > Process Payroll Forms > Pay Employees
D)Enter Time > Pay Payroll Liabilities > Pay Employees > Process Payroll Forms
Q4) The QuickBooks Tax Form Worksheets provide information to complete:
A)Employee pay checks
B)Sales tax forms
C)Payroll tax forms
D)The Income Statement
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Chapter 12: Advanced Quickbooks Features for Accountants
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Sample Questions
Q1) Which of the following identifies a QuickBooks portable company file?
A).QBB
B).QBM
C).QBW
D).QBX
Q2) The audit trail lists:
A)All deleted transactions
B)All changes to transactions
C)User ID of person entering transactions
D)All of these
Q3) The Direct Write-off Method for bad debts:
A)Removes a customer's uncollectible account receivable and records a bad debt expense and is recorded at the time a specific customer's account becomes uncollectible
B)Complies with GAAP
C)Estimates bad debt expense and establishes an allowance or reserve for uncollectible
D)None of these
Q4) Briefly explain the allowance method for accounting for bad debts.
Q5) Briefly explain the direct write off method for accounting for bad debts.
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