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Study Resources (Accounting)

31) Which of the following is an essential characteristic of a strong password? A) It should have at least 12 characters. B) It should contain a complete dictionary word. C) It should not contain many special characters. D) It should not contain your user name or company name. 32) You have created a password which.
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45) The vendor activity that creates a new vendor account is: A) New Vendor. B) New Transactions. C) Print. D) Excel and Word. 46) On the Vendors tab of the Vendor Center, you can enter a vendor bill for the highlighted vendor by clicking New Transactions and selecting: A) Enter Bills. B) Pay Bills. C) Purchase Orders. D) Receive.
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1) Employees claiming the Single (S) filing status and employees claiming the married (M) filing status use the same IRS tables for weekly, biweekly, or monthly pay. 2) Unlike a manual system, QBP can perform all paycheck calculations. 3) Clicking Lists>>Payroll Item List will allow you to review employee compensation, payroll tax.
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35) The Balance Sheet will report a company's financial position as of: A) a range of dates. B) a specific date. C) either A or B. D) both A and B. 36) The ending balance in the accounts payable account will be reported on the: A) Income Statement. B) Profit & Loss statement. C) Balance Sheet. D) Statement of.
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11) A(n) ________ is a collection of business records. A) repository B) role C) activity D) resource 12) Which of the following components of a business process holds the collective memory of an organization? A) decisions B) resources C) repositories D) activities 13) ________ are shown as scrolls in a business process flowchart. A) Roles B) Resources C) Decisions D) Repositories 14) What is the.
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41) On the Employees tab of the Employee Center, new employees are added by clicking: A) New Employee. B) Employees>>New. C) Employees>>Open New Account. D) Employees>>New Employees. 42) Since an employee with paycheck information in the current or preceding year cannot be deleted, you can stop paying the employee by selecting the Employment Tab and: A).
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25) In a manual accounting system, a Purchase Order can be used to: A) authorize inventory purchases. B) document purchases and quantities ordered. C) document vendor prices. D) all the above. 26) In a manual accounting system, the document enclosed with the shipment of goods that is sent to the accountant is called a: A) packing.
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Multiple Choice 1) A(n)________ is a network of activities, roles, resources, repositories, and data flows that interact to accomplish a business function. A) workgroup B) task force C) grid D) business process 2) ________ are collections of related tasks that receive inputs and process those inputs to produce outputs. A) Repositories B) Resources C) Activities D) Databases 3) In a.
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11) Creating and testing promising new alternatives, consistent with available resources is an example of ________. A) experimentation B) abstraction C) systems thinking D) collaboration 12) ________ is the ability to make and manipulate models. A) Abstract reasoning B) Systems thinking C) Social learning D) Experimentation 13) ________ is the ability to model the components of a unit, to connect.
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21) You calculate employee Medicare taxes: A) on gross pay. B) on net pay. C) on taxable pay. D) none of the above. 22) You calculate employee federal tax withholdings on: A) gross pay. B) net pay. C) taxable pay. D) none of the above. 23) The employer tax paid to the state to fund compensation to injured workers is.
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27) To customize the Chart of Accounts to use account numbers, select Edit>>Preferences>>Company Preferences and mark the: A) setup Trial Balance option. B) Create account numbers option. C) Use report general ledger option. D) Use account numbers option. 28) You can edit the following fields on an existing general ledger account: A) Account Type and Account.
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75) You can modify a vendor bill using the: A) Vendor Center. B) Edit tab. C) Bill tab. D) both A and B. 76) In the text, you began tracing the audit trail for printed checks by selecting Reports>>Memorized Reports>>Accounting Journals>>: A) Cash Disbursement Journal. B) Cash Payments Journal. C) Cash Receipts Journal. D) Cash Expense Journal. 77) To trace.
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1) It is important to analyze posted transactions before closing an accounting period. 2) The General Ledger report and the General Ledger Detail Report show the same information. 3) When "Split" appears in the Split Column of the General Ledger report then you know more than one account was affected by the.
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37) The Company Preferences tab under Items & Inventory allows you to do all the following EXCEPT: A) activate inventory and purchase orders. B) warn about duplicate purchase order numbers. C) enter the Job status description. D) warn if not enough inventory quantity on hand to sell. 38) The Payroll & Employees tab under Preferences.
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57) QuickBooks payroll options include: A) manual payroll. B) QuickBooks payroll. C) both A and B. D) none of the above. 58) To begin setting up manual payroll for the new company, select: A) Employees>>Payroll Setup. B) Employee Defaults. C) Employees>>History. D) Employees>>Reports>>List. 59) When setting up payroll, you can set the employee insurance options of: A) My company does not.
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11) The outermost components of the symmetrical five-component framework of an IS are data and procedures. 12) In the five-component framework of an IS, the actors are hardware and people. 13) Software and procedure components are both sets of instructions, in the IS framework. 14) Procedures act as the bridge between the computer.
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47) After creating new customers and entering beginning balances, the report that displays information so you can review for accuracy is called the: A) Customer Contact List. B) Aged Payables report. C) Accounts Receivables Journal. D) Sales Accounts. 48) If you need to add additional vendors after setting up the new company then open the.
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15) The General Ledger report is viewed by selecting: A) Reports & Analysis>>Accountant and Taxes>>General Ledger. B) Reports and Finances>>Accountant and Taxes>>General Ledger. C) Company Accounts>>Accountant and Taxes>>General Ledger. D) Reports>>Accountant and Taxes>>General Ledger. 16) You can modify reports in QBP by opening the report and then clicking: A) Modify Report. B) Memorize Report. C) Adjust Report. D) Analyze.
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21) Automation of a process activity consists of moving work from the ________ to the ________ of the symmetrical five-component framework. A) computer side; human side B) data side; procedures side C) human side; computer side D) software side; hardware side 22) Information is defined as ________. A) recorded facts and figures B) data that fits into.
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Multiple Choice 1) "The number of transistors per square inch on an integrated chip doubles every 18 months." This observation is known as ________ Law. A) Murphy's B) Moore's C) Amdahl's D) Metcalfe's 2) Which of the following statements best describes Moore's Law? A) A computer becomes obsolete within 18 months. B) The number of transistors per square.
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68) The Item Class that is used to track goods purchased and held for resale is called: A) Inventory Part. B) Non-inventory Part. C) Service. D) Sales Tax Item. 69) The Item Class that is used for job materials purchased but not tracked in inventory is called: A) Inventory Part. B) Non-inventory Part. C) Service. D) Sales Tax Item. 70).
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21) Business professionals should look at information systems and technologies only through the lens of business need. 22) Information systems can be bought whereas information technology cannot. 23) Strong passwords have five or more characters. 24) Good passwords contain a complete dictionary word. 25) The "do-si-do" move refers to the password etiquette one must.
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10) Define management information systems. What are the key elements of its definition? 11) Other than development tasks, what are the other roles than you will need to undertake in the use of information systems? 12) What are the points one needs to keep in mind when deciding to implement a management.
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17) QBP's wizards for starting a new company include: A) creating the chart of accounts. B) creating customer and vendors. C) creating inventory and employees. D) all the above. 18) QBP's new company Data File Wizard can be access by selecting: A) File>>New Company. B) File>>Company>>New Company. C) File>>New Company Setup. D) File>>Setup>>New Company. 19) When creating a new company,.
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5) What is collaboration? How can one ensure effective collaboration? 6) What is experimentation? Explain its importance. 7) Describe an information system. 8) Describe the five components of an information system using an example. 9) Do you think a computer is an essential component of an information system? Why or why not? .
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11) The employee income taxes withheld on taxable wages are called: A) Federal Income Tax. B) Social Security tax. C) Medicare tax. D) State Income Tax. 12) The employee taxes withheld on gross wages and paid to the federal government to fund social security retirement is called: A) Federal Income Tax. B) Social Security tax. C) Medicare tax. D).
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53) Gross pay minus total payroll tax withholdings and total voluntary deductions equals ________. 54) In a manual accounting system, the accountant prepares a ________ to calculate employee net pay. 55) Gross pay minus 401k contributions equals ________. 56) Payroll taxes are due on the dates set by taxing agencies and the ________.
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25) To reprint a bank reconciliation report, select Reports>>Banking>>: A) Previous Reconciled Reports. B) Previous Reconciliation. C) Previous Banking reports. D) Previous Checking Reconciliation reports. 26) When reconciling a bank account, you can clear all transactions in the window by clicking: A) Modify. B) Mark All. C) Clear All. D) Unmark All. 27) When reconciling a bank account, you can.
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