Question

Computerized Accounting with Application Package

ACC101 and CIS100

Quiz: Chapter 1 and Chapter 9

True/False

ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER.

1.           The QuickBooks Desktop Payroll Setup is used to add year-to-date earnings for employees.

2.          If you create a company using the Direct Interview, you will enter the company name, address, and Tax ID number as part of the Interview.

3.           The start date is the date you select to begin tracking financial information for your company in QBDT.

4.           You must set up an Administrator Password to have full access to all areas of your company in QuickBooks.

5.           The main difference between accrual and cash basis accounting lies in the timing?

6.           Can you switch to Multi-User Mode?

7.         When using the EasyStep Interview to set up income and expenses, you must type in the name of every income and expense account you use.

8.           You must use Quick Start to add customers, vendors, and employees.

9.           The definition of a vendor is a person selling something

10.          A customer is an individual or business that purchases another company's goods or services.

Answer 1

1 true,the quickbook deskptop payroll setup is used to add year to date earning for employees

2 False , we have to fill these details in easy step interview

3 true,the start date is the date when we begin tracking financial information for qbdt

4 true ,to have full acess we have to set up admin password

5 true ,,as accural tramsaction are recorded when they ouccred but cash transactions are recoded only when cash is recived

6 true,yes we can switch to multi user mode

7 true, we have to expense and income name when using easy step

8 true ,to add custmers,employees ,vendors we have to use quick start

9 true ,vendor is a person selling something

10 true purchaser is person who purchases goods from another company