Question

   Which of the following choices is not used to modify the chart of accounts?

a.       Deleting accounts with balances

b.      Adding new accounts

c.       Editing accounts

d.      Deleting unused accounts

2.      All of the following task may be completed in the banking section of the Home page except:

a.       Receive Items

b.      Write Checks

c.       Reconcile Accounts

d.      Make Deposit

3. The one-step approach should not be used to pay the following:

1. Sales Taxes
2. Expenses, such as rent, utilities and insurance
3. Bills for non-inventory items such as office supplies
4. Bills for services such as accounting or legal fees

4. One of the objectives of a bank reconciliation is:
   1. To update the bank’s records
   2. Update accounting records with unrecorded items
   3. To record monthly adjusting entries
   4. To update the chart of accounts

Part 2-True or False (7)

1.       The check register list all accounts and their number.

2.      Write check is associated with the Banking section of the Home Page.

3.      To record a cash sale we must create a sales receipt then record the bank deposit.

4.      When recording an Invoice, Quickbooks credits Accounts Receivable

5.      The Enter Bill window is used to record services received but not yet paid.

6.      An invoice is used to order goods.

7.      We use the customer window to customize quickbooks.

Part 3-Fill in the blank (11)

1.      The ­­­­­­______ is used to record all transactions affecting the checking account.

2.      ­­______are additions to the checking account and can be classified into two types.

3.      The Write check window should not be used to record ______, ______, ______ and ______.

4.      ______ is the process of comparing the bank statement with your accounting records for the checking account.

5.      A customer list contains ­­­­­information such as _______, ______ and ______.

6.      Three possible ways for a customer to pay for goods and services are credit card sale, cash sale and ______.

Answer 1

1) Solution: Deleting accounts with balances
Explanation: To modify the chart of accounts we do not delete the accounts with balances
2) Solution: Receive Items
Explanation: The receive items and pay employees cannot be completed in the Home page of the banking section.
3) Solution: Sales Taxes
Explanation: Sales Taxes should not be paid with the one-step approach
4) Solution: Update accounting records with unrecorded items
Explanation: The bank reconciliation up-date records of accounting with unrecorded items

As per policy we have to answer first question