Exam+1+Fall+2007+KEY

Exam+1+Fall+2007+KEY - 1 Complete or fill-in-the blanks Two...

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1 Complete or fill-in-the blanks. Two points for each correct blank. 1. Your record most of your daily business transactions on a QuickBooks Forms ____, by selecting entries from a QuickBooks ____List_____________ . 2. You can find all of the QuickBooks commands on the _Menu_ _Bar_____ or access features using __Icon Bar or shortcut list or Navigator___. 3. To prepare a common-size income statement, every line of the income statement should be calculated as a percentage of __Sales_________________. 4. For assignment 2 to install the exercise company (Rock Castle Construction) data you need to restore the _QBLESSON_______ file. 5. The two file extensions used for company data in QuickBooks are NAME.__QBB___ and NAME._QBW__ . 6. The _Chart of Accounts__ displays the balance sheet accounts first followed by income statement accounts. 7. Information about a company from which you purchase goods and services used in your business is entered using the _Vendor__ list. 8. ___Reconciling_________ is the process of making sure that your checking account record matches your bank’s record. 9. The dollars invested in assets, such as equipment, that benefit a firm for more than one year is allocated using depreciation, the two primary methods used are __Stragiht-line___ or _accelerated_ depreciation. 10. The three major methods of valuing inventory are; ___LIFO_, _FIFO_____________, and ___Average_____ 11. The acronym for the accounting rules or principles used to prepare financial statements is __GAAP__________. 12. __Customer, Employer and Vendor___ list are two of the three lists that you worked with in lesson 3. 13.
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This note was uploaded on 02/10/2011 for the course AEB 3103 taught by Professor Cazanova during the Spring '08 term at University of Florida.

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Exam+1+Fall+2007+KEY - 1 Complete or fill-in-the blanks Two...

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