Question

6. Your client prints a Balance Sheet report as of today’s date and notices that the checking account balance in the register does not match the balance shown in today's balance sheet. What might cause this?

A. The bank account has never been reconciled

B. The Balance Sheet was prepared using accrual basis

C. There is a balance in the Undeposited Funds account

D. The client entered bank transactions dated past the date on the Balance Sheet report

7. Which of the following is an example of a transaction report?

A. Profit & Loss Detail

B. A/R Aging Summary

C. A/P Aging Summary

D. Balance Sheet Standard

8. What action do you need to take before you can memorize a report template?

A. Create a Report Group

B. Save the report in the QuickBooks Statement Writer

C. Create a template in Excel to import into QuickBooks Desktop

D. Prepare the report with all the customizations you require

9. Which of the following is an example of a QuickBooks Desktop summary financial report?

A. Unpaid Bills

B. Open Invoices

C. A/P Aging Detail

D. Balance Sheet Standard

10. You want to create GAAP-compliant financial statements from QuickBooks Desktop Accountant. Which of the following tools would you use to create the statements?

A. Report Groups

B. Financial Statement Builder

C. QuickBooks Statement Writer

D. You can’t create GAAP-compliant financial statements with QuickBooks Desktop.

11. Exporting reports to Excel and updating an existing worksheet lets you preserve which of the following with the press of one button?

A. Existing, already formatted worksheets

B. Customer and job names that were merged

C. General ledger account names that were merged

D. Compare two companies' reports based on the same set of customizations

12. Which of the following is true about the QuickBooks Statement Writer?

A. It is available as an add-on for QuickBooks Desktop Accountant at an extra fee

B. It is available in all Windows editions of QuickBooks Desktop for an additional fee

C. There is an Excel add-in that creates a live link between Excel and QuickBooks data

D. It is available as an add-on for QuickBooks Desktop Accountant and all editions of QuickBooks Desktop Enterprise at an extra fee

Answer 1

Question No. 06:  A. The bank account has never been reconciled

Question No. 07: D. Balance Sheet Standard

Question No. 08:D. Prepare the report with all the customizations you require

Question No. 09: C. A/P Aging Detail

Question No. 10: C. QuickBooks Statement Writer

Question No. 11: A. Existing, already formatted worksheets

Question No. 12: D. It is available as an add-on for QuickBooks Desktop Accountant and all editions of QuickBooks Desktop Enterprise at an extra fee