Question 1: The following are examples of source (source) documents that can be used to enter transactions in the Quickbooks, with the exception of:
a- Purchase order
b- Balance sheet
c- Bank Statement
Question 2: Quickbooks:
a- You can only register transactions that affect the cash account
b- You do not need the debit and credit entries for the entries in the journal as you can generate the entries for yourself
c- Use Vendors to keep track of Accounts Payable
Question 3: When using Quickbooks at the end of the year to prepare the financial statements, you must:
a- Prepare the Cash Flow Statement. First to transfer the final balance of Balance Sheet Cash into a journal entry
b- Prepare the Income Statement first to transfer the net income to the Balance Sheet in a journal entry
c- Do nothing, since the financial statements are prepared automatically
Question 4: When using QuickBooks at the end of the year to prepare the adjustment inputs, you shoud:
a- Prepare the Balance Sheet and then prepare a test balance to adjust prepaid and non- accrued accounts
b- Prepare the inputs just as you would in a normal system
c- Preparing the Income Statement, first to transfer Net Income to the Balance Sheet in a journal entry, the rest of the entries are made automatically
Question 5: When the financial information is presented to the board of directors, it is better to provide
a- A list of increases and decreases in accounts in excess of $ 10,000
b- A summary of the data and details about these when required
c- Details of each number on each day in a presentation format such as Power Point
Question 6: When presenting financial information to banks and creditors, it is better to provide:
a- All financial information for the last 10 years
b- Detail of cash transactions
c- Only information that will be guaranteed for the loan to be approved