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QuickBooks 2018 Practice Test
QuickBooks 2018 Practice Test
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QuickBooks 2018 Practice Test
Table of Contents
QuickBooks 2018 Practice Test ... 3 QuickBooks 2018 Practice Test Answer Sheet ... 10
QuickBooks 2018 Practice Test
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QuickBooks 2018 Practice Test
1. Ways to navigate QuickBooks include:
A) Menus B) Icon Bar C) Home Page
D) All of the choices are correct
2. Which type of QuickBooks data file allows you to enter data and transactions
A) QBM B) QBB C) QBW D) QBX
3. Which of the following is a temporary account?
A) Inventory B) Rent Expense C) Accounts Payable D) Accounts Receivable
4. 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 Home Page, select Account > New D) From the Lists Menu, select New > Account
5. Which of the following is not a Customer transaction?
A) Create Invoices B) Create Estimates C) Receive Inventory D) Receive Payments
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6. Double-entry accounting records exchanges in a transaction with debits and credits. Which of the following is recorded when a company purchases a computer and pays cash?
A) The computer is recorded with a credit and the cash is recorded with a credit B) The computer is recorded with a debit and the cash is recorded with a debit C) The computer is recorded with a credit and the cash is recorded with a debit D) The computer is recorded with a debit and the cash is recorded with a credit 7. Which of the following statements is true?
To conserve resources, it is best if the owner uses one Checking account for both personal and business purposes
B) To maintain more consistent records, it is best if the owner maintains a separate personal Checking account, but both the owner's personal Checking and business Checking accounts are listed in the Chart of Accounts
C) To maintain separation between the personal and business accounting records, the owner's personal Checking account should not be used to pay bills for the business and should not be listed in the business' Chart of Accounts
D) None of the choices are correct
8. 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) Outstanding checks
C) Deposits recorded by the bank D) Errors
9. Sales in QuickBooks can be recorded with all the following means of payment, except:
A) Cash B) Check C) Credit Card D) Purchase Order
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10. To increase collections of payments, you can use all the following QuickBooks features, except:
A) Accounts Receivable Aging Report B) Customers with Open Invoices Report C) Collections Report
D) Accounts Payable Aging Report
11. Vendor reports can be accessed in QuickBooks in all of the following ways except:
A) Reports Center B) Vendors Center C) Reports Menu
D) All of the choices are correct
12. Which order of tasks is used when purchasing services?
A) Enter Bills > Pay Bills
B) Enter Invoice > Write Check
C) Create Purchase Order > Receive Bill > Enter Bill > Pay Bills D) Enter Invoice > Receive Payment > Make Deposit
13. 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; Vendors List D) Order goods; Purchase Order
14. The Purchase Orders window is used to record which one of the following transactions?
A) A customer order to purchase goods B) An order to purchase goods from a vendor C) Services received but not yet paid
D) Cash purchases of supplies
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15. The order of steps to process payroll is:
A) Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms B) Enter Time > Pay Employees > Process Payroll Forms > Print Payroll Report C) Pay Employees > Process Payroll Forms > Pay Payroll Liabilities
D) Enter Time > Pay Payroll Liabilities > Process Payroll Forms > Print Liabilities Report
16. Which of the following is typically used to track time for a single activity?
A) Employee Tracker B) Stopwatch
C) Timesheet D) QuickTime
17. To print the Adjusted Trial Balance, select:
A) Reports Center > Accountant & Taxes B) Company Center > Company & Financials C) Reports Center > Company & Financials D) Company Center > Accountant & Taxes
18. Prepaid items for which adjusting entries may be necessary include all of the following except:
A) Prepaid insurance B) Prepaid Rent
C) Unearned Revenue D) Office Supplies
19. 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
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20. What is owner's equity?
A) What a company owes
B) What remains after the liabilities are satisfied C) What a company owns
D) None of the choices are correct
21. Which one of the following activities is not associated with the Employee section of the Home Page?
A) Write Checks
B) Pay Payroll Liabilities C) Process Payroll Forms D) Enter Time
22. How do you access the screen to add a user and password?
A) Company menu > Set Up Users and Passwords > Set Up Users B) Edit menu > Preferences > Employees
C) Employees > Employee Center
D) Company menu > Company Information
23. When a customer deposit is recorded using the Make Deposits window, behind the screen QuickBooks converts the transactions into a journal entry that:
A) Debits Checking account, Credits Undeposited Funds B) Credits Checking account, Debits Undeposited Funds C) Debits Checking account, Credits Accounts Receivable D) Debits Accounts Receivable, Credits Checking account
24. The Enter Bills > Pay Bills (two-step) approach for paying bills must be used to pay which of the following?
A) Rent Payments B) Legal Services C) Sales Taxes
D) None of the choices are correct
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25. The journal entry behind the screen that QuickBooks creates when a customer's payment is received and recorded using the Receive Payment window includes:
A) Debit Accounts Receivable; Credit Checking account B) Debit Checking account; Credit Accounts Receivable
C) Debit Undeposited Funds account; Credit Accounts Receivable D) Debit Accounts Receivable; Credit Undeposited Funds account
26. What QuickBooks activity comes next in this series of business activities (fill in the blank):
Enter Bills > ________
A) Receive Payments B) Pay Bills
C) Make Deposit
D) Enter Purchase Order
27. Vendor reports can be accessed in QuickBooks in all of the following ways except:
A) Reports Center B) Vendors Center C) Reports Menu
D) All of the choices are correct
28. What QuickBooks activity comes next in this series of payroll activities (fill in the blank):
Enter Time > Pay Employees > ________ > Process Payroll Forms
A) Reconcile Payroll B) Print Payroll Report C) Pay Payroll Liabilities
D) None of the choices are correct
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29. If a count of office supplies on hand reveal $1,000 of supplies unused at year-end and the Office Supplies on Hand account has a balance of $2500, the adjusting entry to bring the Office Supplies on Hand up to date at year-end should include:
A) Debit Office Supplies on Hand $1,000, Credit Office Supplies Expense $1,000 B) Debit Office Supplies on Hand $1,500, Credit Office Supplies Expense $1,500 C) Debit Office Supplies Expense $1,000, Credit Office Supplies on Hand $1,000 D) Debit Office Supplies Expense $1,500, Credit Office Supplies on Hand $1,500
30. Cash inflows and outflows related to the company's primary business are categorized as cash flows from:
A) Investing activities B) Financing activities C) Sales activities D) Operating activities
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QuickBooks 2018 Practice Test Answer Sheet
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