Keystone AcademyACCT 3110 Customizing QuickBooks and the Chart of Accounts 1) How do you access the screen to add a user and password? A

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Keystone AcademyACCT 3110
Customizing QuickBooks and the Chart of Accounts
1) How do you access the screen to add a user and password?

A.    Company menu > Set Up Users and Passwords > Set Up Users
B.    Employees > Employee Center
C.    Edit menu > Preferences > Employees
D.    Company menu > Company Information

2.    What does the Chart of Accounts list?

A.    Assets, liabilities and owner's equity accounts
B.    Income and expense accounts
C.    Owner's contributions
D.    All of these

3.    Which account below is not an Expense account?

A.    Utiliti es
B.    Ren t
C.    Accounts Payable
D.    Advertisi ng

4.    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
 
5.    The Income Statement:

A.    lists the accounts and account numbers
B.    lists a company's assets
C.    summarizes what a company owns and what it owes
D.    reports the results of a company's operations, listing income and expenses for a period of time

6.    Which of the following is a temporary account?

A.    Sale s
B.    Invento ry
C.    Accounts Payable
D.    Accounts Receivable

7.    An example of a non-posting account is    .

A.    Employee Expense
B.    Invento ry
C.    Purchase Orders Account
D.    Accounts Payable

8.    To add a new account to the Chart of Accounts:

A.    Display the Chart of Accounts, select Account, New
B.    From the Company menu, select New Account
C.    From the Home page, select New Account
D.    From the Lists menu, select New Account
 
9.    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.

10.    Which of the following is considered a permanent account?

A.    Income Statement accounts
B.    Balance Sheet accounts
C.    All of
these
D.    None of these