Quickbooks Pro 2010 Multiple Choice Answers Chapter 1

File: Chapter 1 Essentials CAEQBPro

Multiple Choice

1. QuickBooks Pro 2008 Student Trial Edition will operate for how many days after registration?

a. 30 days.
b. 60 days.
c. 120 days.
d. 140 days. Ans: d

2. Once QuickBooks Pro 2008 Student Trial Edition is installed, all of the following icons will appear on the desktop except:

a. QuickBooks Pro 2008.
b. Support for QuickBooks.
c. QuickBooks Library.
d. Payroll for QuickBooks. Ans: c

3. The Welcome to QuickBooks Pro 2008 window allows users to:

a. Explore QuickBooks.
b. Open an existing company file.
c. Create a new company.
d. All of the above. Ans: d

4. The name of the company created in Chapter 1 is:

a. Your Name Retailers, Inc.
b. Your Name Merchandisers.
c. Sample product-based business.
d. Sample service-based business. Ans: a

5. The type of business created in Chapter 1 is:

a. Nonprofit.
b. Repair and maintenance.
c. Retail shop or online commerce.
d. Sales-independent contractor. Ans: c

6. The business created in Chapter 1 will operate as a:

a. Sole proprietorship.
b. Corporation.
c. LLP.
d. LLC Ans: b

7. The first month of the year for the business created in Chapter 1 is:

a. January.
b. June.
c. September.
d. October. Ans: a

8. The new business created in Chapter 1 sells:

a. Products only.
b. Services only.
c. Both products and services.
d. None of the above. Ans: c

9. The new business created in Chapter 1:

a. Sells online.
b. Uses billing statements.
c. Creates invoices.
d. Creates estimates. Ans: c

10. The beginning cash balance at Reno Bank is:
a. $10,000.
b. $50,000.
c. $80,000.
d. $90,000. Ans: