Computerized Accounting Pre-Test
Questions
Course Introduction
Computerized Accounting introduces students to the principles and applications of accounting using modern computer software. The course covers how to set up and manage accounting systems, record transactions, handle payroll, generate financial statements, and prepare reports using industry-standard accounting software. Through hands-on practice, students gain skills in processing business transactions, maintaining accurate financial records, and analyzing financial data efficiently and accurately, preparing them for real-world accounting roles in various business environments.
Recommended Textbook
Computer Accounting with QuickBooks 2015 17th Edition by Donna Kay
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12 Chapters
340 Verified Questions
340 Flashcards
Source URL: https://quizplus.com/study-set/3438
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 financial statement below summarizes a company's earnings?
A)Statement of Cash Flows
B)Profit & Loss Statement
C)Balance Sheet
D)Income Statement
Answer: B
Q2) Which financial statement below summarizes the financial position of a company?
A)Statement of Cash Flows
B)Profit & Loss Statement
C)Balance Sheet
D)Income Statement
Answer: C
Q3) Which financial statement below summarizes a company's cash inflow and outflow?
A)Statement of Cash Flows
B)Profit & Loss Statement
C)Balance Sheet
D)Income Statement
Answer: A
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3
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) The Favorites menu allows you to:
A)Add websites that are useful to your business
B)Customize up to 30 of your favorite QuickBooks menu items
C)Add one favorite QuickBooks menu item
D)None of these
Answer: B
Q2) Which QuickBooks version is designed for mid-sized businesses?
A)QuickBooks Pro
B)QuickBooks Premier
C)QuickBooks Accountant
D)QuickBooks Enterprise Solutions
Answer: D
Q3) 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
Answer: A
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Chapter 3: Banking
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/68286
Sample Questions
Q1) Which of the following steps will record a deposit?
A)Use the Make Deposits window.
B)Enter the information directly into the check register.
C)None of these
D)All of these
Answer: D
Q2) How can I create a filter on a Report?
A)Click Customize Report, then click Filters Tab
B)Click Customize Report, then click Company Tab
C)Click Customize Report, then click Edit
D)None of these
Answer: A
Q3) The Check Register:
A)Lists all accounts and their account numbers
B)Records payments and deposits to the Checking account
C)Is located directly on the Company section of the Home page
D)Keeps track of company deposits only
Answer: B
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Chapter 4: Customers and Sales
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35 Verified Questions
35 Flashcards
Source URL: https://quizplus.com/quiz/68285
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
Q2) When recording a customer payment from a credit sale, select:
A)Create Invoice > Customer Payment > Customer & Job Name
B)Make Deposit
C)Create Sales Receipt > Record Deposits
D)Receive Payment > Customer & Job Name
Q3) When a customer is billed when the project/job reaches specified milestones, what type of billing does the company use?
A.Purchase Order billing
B.Estimates Pre-billing
C.Progress billing
D.Normal (end-of-job) billing
Q4) Briefly explain the difference between creating a sales receipt and creating an invoice.
Q5) Name 3 (three) reasons why a job for a customer might be "pending".
Q6) Name 3 (three) reasons why a job for a customer might be "pending".
Page 6
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Chapter 5: Vendors, Purchases, and Inventory
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68284
Sample Questions
Q1) Which one of the following is usually classified as an inventory item?
A)Goods purchased for resale to customers
B)Items purchased and the quantity on hand does not need to be tracked
C)Items purchased and used by the company such as office supplies
D)Items purchased for a specific customer job
Q2) 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
Q3) Briefly describe how sales tax payments flow from customers to government entities.
Q4) Vendor reports can be accessed in QuickBooks in all of the following ways except:
A)Report Center
B)Vendor Center
C)Report Menu
D)All of these
Q5) What are Inventory items, Non-inventory items, and Services? Provide examples.
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Chapter 6: Employees and Payroll
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68283
Sample Questions
Q1) Which of the following is typically used to track time for a single activity?
A)Employee Tracker
B)Stopwatch
C)Timesheet
D)QuickTime
Q2) What is the purpose of Federal Form 941?
A)Summarize the amount of unemployment tax paid and due by the company
B)Summarize the amount of federal income tax, Social Security, and Medicare withheld from employee paychecks for the quarter
C)Summarize the amount of federal income tax, Social Security, and Medicare withheld from employee paychecks for the year
D)Summarize of all your W-2 forms
Q3) A company is required to withhold payroll taxes for:
A)Employees
B)Vendors
C)Subcontractors
D)All of these
Q4) Briefly describe what the "Time by Job" project reports tell management.
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 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/68282
Sample Questions
Q1) The Income Statement lists:
A)Net Income and Owner's Equity
B)Income and Expenses
C)Assets and Liabilities
D)Assets and Expenses
Q2) The Trial Balance:
A)Lists all the company's accounts and ending balances
B)Is printed before and after making adjustments
C)Verifies the accounting system balances
D)All of these
Q3) 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
Q4) What is the difference between the cash basis and the accrual basis?
Q5) Briefly explain 2 (two) differences between depreciation on a tax return and on a financial statement.
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Chapter 8: New Company Setup
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/68281
Sample Questions
Q1) Which icon does not appear in the Vendors section for service companies that do not sell inventory?
A)Receive Inventory
B)Pay Bills
C)Enter Bills
D)All of these
Q2) Which tax form would you select for a Corporation?
A)Form 1120
B)Form 1120S
C)Form 1065
D)Form 1040S
Q3) An account's tax line determines where QuickBooks lists the account balance on the:
A)Income Statement
B)Statement of Cash Flows
C)Balance Sheet
D)Income Tax Summary Report
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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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68280
Sample Questions
Q1) To record a purchase on account, use the:
A)Purchase Order > Receive Payment > Deposit
B)Invoice > Receive Payment > Deposit
C)Enter Bills > Pay Bills
D)Invoice > Enter Bills > Pay Bills
Q2) To print the entire Journal, select:
A)Report Center > Accountant & Taxes > Journal
B)Company Center > Company & Financials > Journal
C)Report Center > Company & Financials > Journal
D)Company Center > Accountant & Taxes > Journal
Q3) When you record the receipt of a customer payment QuickBooks reduces _______ and increases ________.
A)Bank Account, Accounts Receivable
B)Accounts Payable, Undeposited Funds
C)Accounts Receivable, Undeposited Funds
D)Accounts Receivable, Bank Account
Q4) Briefly explain how to record an owner's investment in their company.
Q5) Briefly explain the difference between a permanent and a temporary account.
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Chapter 10: Merchandising Corporation: Sales, Purchases and Inventory
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68279
Sample Questions
Q1) The sales transaction cycle for a merchandising company is:
A)Create Purchase Order > Receive Inventory > Record Bill > Pay Bill > Print Check
B)Create Invoice > Receive Payment > Record Deposits
C)Create Purchase Order > Receive Payment > Record Deposits
D)Create Invoice > Receive Inventory > Pay Bill > Record Deposits
Q2) When setting up an existing company in QuickBooks, which of the following opening adjustments require journal entries?
A)When accounts payable opening balances create Uncategorized Expenses
B)When the Customer List is created
C)When payroll entries are added
D)None of these
Q3) When using QuickBooks, your accounting system includes which of the following steps?
A)Enter vendor list
B)Record transactions
C)Prepare reports
D)All of these
Q4) Briefly explain how the supplies on hand account is adjusted at the end of the period. To view all questions and flashcards with answers,
12
Chapter 11: Merchandising Corporation: Payroll
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68278
Sample Questions
Q1) List 3 (three) types for payroll liabilities and who is responsible for funding them.
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) All of the following are payroll tax liabilities owed to outside agencies except:
A)Federal Income Taxes
B)Unemployment Taxes
C)Net Pay
D)State Income Taxes
Q4) Which one of the following payroll services automatically calculates the tax deductions?
A)QuickBooks Basic Payroll
B)QuickBooks Assisted Payroll
C)QuickBooks Enhanced Payroll
D)All of these
Q5) Briefly describe how you manually process payroll forms.
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Page 13
Chapter 12: Advanced Quickbooks Features for Accountants
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/68277
Sample Questions
Q1) To enable progressive billing, select:
A)Customer menu > Jobs > Progressive Billing
B)Company menu > Preferences > Progressive Billing
C)Edit menu > Preferences > Jobs and Estimates > Company Preferences
D)Company menu > Estimates > Preferences
Q2) QuickBooks Go Payment:
A)Is an Intuit app that connects you to your QuickBooks software.
B)Allows you to collect customer payments on the go.
C)To use: connects a credit card reader to your mobile device.
D)All of these
Q3) When doing business in multiple currencies, QuickBooks allows you to:
A)Apply currency conversions automatically
B)Download the current currency exchange rates
C)Specify your home currency
D)All of these
Q4) Which of the following identifies a QuickBooks working company file?
A).QBB
B).QBM
C).QBW
D).QBX
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