Question Details

11. The objective of an accounting information system, like QuickBooks, is to: 
A. Save company resources, like time and paper
B. Use the computer for keeping accounting records
C. Collect, summarize, and analyze data
D. None of these

12. Accounting information is used to do all of the following except: 
A. Prepare financial statements for investors
B. Prepare tax returns for the IRS
C. Prepare reports for management
D. Prepare meeting minutes for the board of directors

13. Your QuickBooks data can be stored in all of the following ways except: 
A. Online
B. Backup
C. Portable File
D. All of these store QuickBooks data

14. A business transaction is an exchange between: 
A. Vendor
B. Employee
C. Customer
D. All of these

15. Double-entry account records what is exchanged in a transaction (debits and credits). Which of the following is recorded when a company purchases (receives) a computer and pays (gives) cash? 
A. The computer is recorded as a credit and the cash is recorded as a credit
B. The computer is recorded as a debit and the cash is recorded as a debit
C. The computer is recorded as a credit and the cash is recorded as a debit
D. The computer is recorded as a debit and the cash is recorded as a credit

16. The onscreen form for ordering items from a vendor looks like the paper version of a: 
A. Purchase Order
B. Invoice
C. Check
D. None of these

17. Which type of QuickBooks data file allows you to enter data and transactions? 
A. .QBM
B. .QBB
C. .QBX
D. .QBW

18. The QuickBooks file extension .QBM indicates the file is a: 
A. QuickBooks working file
B. QuickBooks movable file
C. QuickBooks Accountant's transfer file
D. QuickBooks Accountant's working file

19. The QuickBooks file extension .QBA indicates the file is a: 
A. QuickBooks working file
B. QuickBooks movable file
C. QuickBooks Accountant's transfer file
D. QuickBooks Accountant's working file

20. Which QuickBooks window allows you to add your name to the checking account? 
A. Chart of Accounts
B. Company Information
C. Company Center
D. Check Register

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