Exam+1+Fall+2006+KEY - *MUST PRINT IN B/W(NOT GRAYSCALE TO...

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1 NAME: ______________________________________ Student Number: ______________________________________ Note: two points for each correct answer (90 points total) List. List the three main ways to enter data in QuickBooks. 1. FORMS 2. LISTS 3. REGISTERS List the four ways to access features (billing, invoicing, customers, suppliers, etc) in QuickBooks. 1. MENU BAR 2. ICON BAR 3. NAVIGATOR 4. SHORTLIST Name five of the six lists used in QuickBooks. 1. CHART OF ACCOUNTS 2. CUSTOMER 3. VENDOR 4. ITEM 5. EMPLOYEE ALSO ACCEPT : FIXED ASSET ITEM PRICE LEVEL SALES TAX CODE PAYROLL
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2 Complete or fill-in-the blanks. 1. _ ACCRUAL_ _____________ is the default accounting method used most in QuickBooks to generate financial reports. 2. For all the lessons to install the exercise company (Rock Castle) data you need to _RESTORE_ _________ the back up file. 3. The chart of accounts displays _ BALANCE SHEET_ ______ accounts first followed by _ INCOME _____ and __ _EXPENSE_ __ accounts. 4. The two file extensions used for company data in QuickBooks are NAME._ QBW ___ and NAME._ QBB_ _ ___ . 5. Information about a company from which you purchase goods and services used in your business is entered using the __ VENDOR _____________ list. 6. _ RECONCILE ________ is the process of making sure that your checking account record matches your bank’s record. 7. You would use an ____ INVOICE_ _______ to bill your customer for 5 hour of installation labor. 8. You gave one of the Gator Doors to your brother-in-law. You would ___ MANUALLY_ _ ADJUST__ ____ the inventory to reflect this. 9. You use _ ACCOUNTS ___ _ PAYABLE__ ____ to track money that you owe to vendors. 10. You use the EASYSTEP _________ _ INTERVIEW ___ to set up or create a new company
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3 Multiple Choice Questions, circle the letter with correct answer.
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