Lesson 1

Topics: Generally Accepted Accounting Principles, Business, Types of business entity Pages: 5 (1154 words) Published: May 11, 2015
Lesson 1
Introducing QuickBooks Pro
Name: _______________________________________
True/False Questions
1. A manufacturing business is the ideal type of business for QuickBooks Pro. a. True
b. False
2. In QuickBooks, if you learn how to use one version, you can switch to a different version with relative ease. a. True
b. False
3. Data entry is the same in QuickBooks whether you use accrual or cash basis accounting. a. True
b. False
4. The cash basis of accounting is commonly used by small businesses that are not publicly traded. a. True
b. False
5. A backup file is smaller than a portable company file of the same company. a. True
b. False
6. Once it is displayed, you cannot hide the icon bar.
a. True
b. False
7. You should always back up your company file to an alternate location, not on the same computer where the original file is located. a. True
b. False
8. The QuickBooks release number can be found in the Product Information window. a. True
b. False
9. A USB drive should never be used to backup company file data. USB drives should only be used to transfer data from one computer to another within the company. a. True
b. False
Multiple Choice Questions
10. QuickBooks SimpleStart, QuickBooks Pro, and QuickBooks Premier are all types of _____. a. QuickBooks versions
b. QuickBooks editions
c. QuickBooks volumes
d. QuickBooks sections
11. What type of task assists you in storing information about customers, vendors, and employees? a. List
b. Activities
c. Company setup
d. Reports
12. What accounting method is typically used by businesses with large inventories? a. Cash basis
b. Accrual basis
c. Both a and b
d. None of the above
13. What does “behind the scenes” mean in this QuickBooks textbook? a. There is a second set of books
b. The accounting that QuickBooks performs for you
c. The underlying lists and activities
d. All of the above
14. What is the act of decompressing a backup file called?
a. Uncompressing
b. Restoring
c. Opening
d. All of the above
15. A compressed QuickBooks file, ideal for attaching to an email message, is a _____. a. backup file
b. restored file
c. portable company file
d. Both b and c

16. What screen element displays the QuickBooks edition in which you are working? a. Menu bar
b. Title bar
c. Home page
d. All of the above
17. When are transactions saved in QuickBooks?
a. Automatically as they are entered
b. When you close QuickBooks
c. When you execute the File > Save command
d. All of the above
18. QuickBooks allows you three options to back up your company files. Which of the following IS NOT one of the options? a. Save it now
b. Save it now and schedule future backups
c. Automatically each time 26 MG of new data is entered.
d. Only schedule future backups
Matching Questions
19. Match each QuickBooks file type to its description.
Company file

A compressed copy of your data; great for sending via email
Backup file

Contains important configuration data; should not be deleted C
Portable company file

A decompressed file in which you carry out daily transactions D
Transaction log file

Helps to recover any data entered after the last backup operation E
Network data file

A compressed copy of your data that can be stored online
20. Match each QuickBooks task to its description.

Affects what is happening behind the scenes; easily entered on forms B

Gives a snapshot of aspects of a business; preset and easily customizable C
Company setup

Takes you through the steps necessary to create a new QuickBooks company D

Allows you to store information about customers, vendors, employees, and other data important to your business

21. Match each accounting basis to its correct description.
Accrual basis

Income is recorded when cash is received and expenses recorded when cash...
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