Question 1 of 60

After QuickBooks sets up the Chart of Accounts during the Express Start or
Advanced Setup, which of the following in True?
AOnly income and expense accounts can be added after completing the Express Start
of Advanced Setup
BAccounting opening balances cannot be changed
CIt is possible to add more accounts later
DNew accounts can only be added during Express Start of Advanced/Details Setup

Question 2 of 60
Why might you need to restore a company file?
AThe computer’s hard drive is damaged
BThe company file on your hard drive is damaged or corrupted
CYou want to review your company data as it stood at an earlier period
DAll of the above

Question 3 of 60
The Product Information window shows you the version and release of
QuickBooks you have along with other information about the company file.
How do you access the Product Information window?
AClick the File menu and select Version Information
BPress the F2 Key
CClick the Help menu and select About QuickBooks

DOnly Intuit Technical support can access this window Question

4 of 60
Which of the following is NOT true regarding merging entries?
AQuickBooks allows you to merge an expense account with an income account
BYou can only merge names of the same Type
CMerging effectively combines names on a list
DMerging entries affects past transactions
Question 6 of 60
Which of the following statements is true about entering and paying bills in
QuickBooks?
AYou should write a cheque for a bill using the Write Cheques window (or the cheque
register) FIRST, and then enter the bill for your records
BIf you record the bill in QuickBooks, use the Write Cheques window (or the cheque
register) to pay that same bill
CIf you use Online Banking in QuickBooks, you can pay bills that you entered in
QuickBooks
DIf you record the bill in QuickBooks, do not use the Write Cheques window (or the
cheque register) to pay that same bill

Question 7 of 60
Which of the following statements is true regarding vendor credit memos?    
AVendor credit memos are the same as Statement Charges
BVendor credit memos are sent to you when your account is overdue
CVendor credit memos reduce what you owe the vendor
DVendor credit memos increase what you owe the vendor

Question 8 of 60
Where can you see a thumbnail sample of each report in QuickBooks along
with a description of what a report tells you?
 
AReport Centre
BDocument Centre
CView menu
DReports menu

Question 9 of 60
If you have a customized report that you use each month, what feature lets
you run the report with updated data each month?
 
AUpdate report
BMemorize report
CAutomate report
DCustomize report

Question 10 of 60
Suppose you always want all reports to show with a specific font size and
colour. How do you set this standard or preference in QuickBooks, so you
don’t have to customize each report?
AClick the Reports menu and select Global Report Preferences
BClick the Reports menu and select Memorized Reports > Set Preferences. You can
only set report preferences for memorized reports
CClick the Edit menu and select Preferences. Then click the Reports & Graphs group to
set your report preferences
DYou must customize each report individually

Question 11 of 60
Why would you hide (or collapse) subaccounts on a report?    
ATo temporarily hide unnecessary detail and only show parent accounts
BTo email the report. You can only email a report that is collapsed
CTo send the report to Excel. You can only export a report that is collapsed
DYou cannot hide subaccounts on a report

Question 12 of 60
What is purpose of the Audit Trail report?
ATo prepare the books for an accounting firm’s audit
BTo help you perform a year-end audit
CTo track attempts to access a restricted area
DTo track any changes and deletions to transactions, as well as track which users
makes the change or deletion

Question 13 of 60
Which of the following is a possible reason for a bank reconciliation
discrepancy?
AThe beginning balance calculated by QuickBooks doesn’t match last month’s ending
balance
BA client deleted a reconciled transaction from last month
CYou didn’t record cheques in QuickBooks that are dated after the bank statement date
DThe QuickBooks balance will never match the bank’s balance

Question 14 of 60
Name the sections of the Balance Sheet.
AAssets, Income, and Expenses
BAsset, Liabilities, and Equity
CIncome, Expenses, and Liabilities
DAssets, Liabilities, and Expenses

Question 15 of 60
What is the primary reason for setting a Closing Date in QuickBooks?
ATo reduce the company file size
BTo restrict users from deleting, editing, or adding transactions to last year
CTo transfer current year net income to retained earnings
DTo delete prior year transactions

Question 16 of 60
Which of the following can be memorized in QuickBooks?
ACheque
BBill payment
CPaycheque
DAll the above
Question 17 of 60
For each functional area of QuickBooks Pro and Premier (e.g. Sales and A/R,
Purchases and A/P, etc.) What level of access can you grant to users?
 
AYou can prohibit access or grant full access. These levels apply to SPECIFIC
transactions within that area
BYou can prohibit access, grant full access, or grant selective access. These levels
apply to ALL transactions within that area
CYou can prohibit access, grant full access, or grant selective access. These levels
apply to SPECIFIC transactions with that area
DYou can prohibit access or grant full access. These levels apply to ALL transactions
within that area

Question 18 of 60
Which tool do you use to move your logo on a form?    
AQuickBooks print engine editor
BFinancial Statement Designer
CLayout designer
DCustom Form Designer

Question 19 of 60
Which of the following form templates CANNOT be customized in
QuickBooks?
AInvoice
BPurchase Order
CCheque
DAll of the above

Question 20 of 60
Your client accidentally entered the same customer twice in the Customer
Centre (with a slightly different spelling). How do you merge these two
entries?
AEdit the unwanted list entry. Click the Merge to button. Then select the appropriate
name to merge into. Click OK.
BMerging list entries is not possible in QuickBooks. You can only delete unwanted list
entries.
CEdit the unwanted list entry. Change the name to match the name you want to merge
into. Click OK. Then click YES when prompted to merge the names.
DClick the Company menu and select Merge names. Select the two names to merge
from the appropriate lists, then click Merge.

Question 21 of 60
Which of the following editions of QuickBooks support multiple users?
AQuickBooks Pro only
BQuickBooks Premier
CQuickBooks Enterprise
DAll of the above

Question 22 of 60
A list entry may be deleted ONLY when:
AList entries can never be deleted
BIt has no balance, it has not been used, and is not linked to anything that has been
used
CYou enter a valid security password
DThe entry has not been used in the current year

Question 23 of 60
When you sell and item, how does it affect the profit and loss report?
AItems do not affect the Financial Statements
BWhen you set up a non-inventory item, QuickBooks assigns the current on hand
quantity to the Profit & loss
CThe value of the sale flows to the income account you selected when you set up the
item
DWhen you set up an item, you select the Balance Sheet or Profit and Loss from the
Assign to drop-down list

Question 24 of 60
Your client sells unique items to every customer (they never sell the same
service or product twice). What item(s) type should you set up for your
client?    
ADo not use items when invoicing the customer. Instead, just type the description and
prices in the description
BClick the One-time use button in the New item window
CClick the Remove After Use button in the New item window
DSet up a generic non-inventory part and edit the description and price each time you
make a sale

Question 25 of 60
You have to setup an item for “Shipping” for your client. What item type
should you use?
AInventory part
BOther Charge
CService
DNon-inventory part

Question 26 of 60
What two steps do you follow to track accounts payable in QuickBooks?
AEnter Bills > Write Cheques
BPay Bills > Write Cheques
CFile Bills > Pay Bills
DEnter Bills > Pay Bills

Question 27 of 60
Your client’s company just hired a subcontractor to work 40 hours on a job.
Which list should you add this person to?
AOther Names
BEmployees
CSubcontractors
DVendors

Question 28 of 60
Your company had to return some goods to a vendor. How do you record the
vendor credit in QuickBooks?
AClick Refunds and Credits on the Home Page
BClick Enter Bills and then click Credit on the top of the bill
CIn the Pay Bills window, select Refunds and Credits
DEnter a Journal Entry

Question 29 of 60
How can you open a QuickBooks report in Microsoft Excel?
ASelect View report in a database in the Report Centre
BUse the Import from QuickBooks wizard in Microsoft Excel
CYou can’t open a QuickBooks report in Excel
DClick the Excel button on the top of any QuickBooks report

Question 30 of 60
You sent a QuickBooks report to Excel and made some changes. How do you
import the changes back to QuickBooks?
AUse the Import from Excel wizard in QuickBooks.
BFrom the Company menu, select Reports, Import from Excel.
COpen the original report and click Export. Click the Advanced tab and select Import
last export report.
DYou can’t import change in Excel back to QuickBooks.

Question 31 of 60
What is the fastest way in QuickBooks to find an invoice from six months
ago?
 
AOpen an invoice and click the Find button
BClick the Previous button until you find the invoice
CClick Help and search for the invoice by number
DClick Help and search for the invoice by date

Question 32 of 60
How do you enable account numbers for the Chart of Accounts?
AGo to Accounting Preferences > Click Use Account Numbers
BThey’re automatically enabled when you start your company
CEnter them during the setup process
DGo to General Preferences > Select Enable Account Numbers

Question 33 of 60
Which of the following utilities would you run on your client’s file if you
suspected that their data file had lost integrity? Please select the BEST
answer.
AClean up data
BCondense data
CCheck data integrity
DVerify data

Question 34 of 60
How do you enter a debit card transaction in QuickBooks? Choose the BEST
answer.
AUse the Write cheques” window. Enter the label Debit in the Cheque Number field.
BClick “Enter Debit Card” charges from the Home page.
COpen the Chequing register to make the entry.
DQuickBooks does not let you enter Debit Card transactions.

Question 35 of 60
Estimate, Sales Order, and Purchase Orders have the following in common:
AThey don’t have anything in common
BEach of the transactions is a non-posting transaction
CEach of the transactions require a vendor name
DEach of the transactions require a customer name

Question 36 of 60
To find all transactions on any list item you should create which report?
Choose the best answer.
ACustom transaction detail report
BQuick Report
CBank Activity report
DAll the above

Question 37 of 60
Which of the following is a limitation when using a journal entry?
AYou cannot post journal entries to the opening balance equity account
BYou cannot adjust sales tax using a journal entry
CYou cannot use journal entries to record inventory quantities
DYou cannot use journal entries to enter opening balances

Question 38 of 60
To help you apply a discount to a group of line items on an invoice,
QuickBooks uses which of the following items? Please choose the best
answer.
ASubtotal
BPrice Levels
CGroup items
DPayment items

Question 39 of 60
To sort the entries in the QuickBooks reconciliation window, you can do
which of the following:
AApply a filter to the report
BClick on the column title you want to sort by
CYou cannot sort entries in the reconciliation window
DClick the sort by dropdown menu

Question 40 of 60
Which of the following statements is true?
ARetained earning is automatically created and QuickBooks will do the year end entries
to retained earnings for you
BRetained earnings is automatically created but you must close out the year
CRetained earnings is not automatically created, you must create it
DThere is not retained earning account in QuickBooks
Question 41 of 60
When making adjustments to the GST/HST payable account using journal
entries, you must do which of the following?
AEnter a memo for the CRA in case of audit
BChoose an appropriate tax item to tell QuickBooks which tax line item from the return
to affect
CSelect the adjusting journal entry checkbox at the top of the window
DAll the above

Question 42 of 60
You want to see the line See Accompanying Notes at the bottom of the Profit
and Loss Statement. How would you do this in QuickBooks? Select the best
answer.
AEnter the text as the Extra Footer Line under the Header/Footer tab
BSelect the appropriate columns under the Customize Report window
CQuickZoom on the report footer and type the text when prompted
DSelect the Advance option titled. Add “Standard Accounting Terms”

Question 43 of 60
Which of the following tasks can you perform using the Fixed Asset Item
List? Please select the best answer.
ACalculate depreciation and post automatically
BPost general journal entries
CEnter asset names, serial numbers, and acquisition date
DAll the above

Question 44 of 60
To find entries posted before the client’s closing date you’ll do what?
 
AUse the bank register
BUser the Audit trail report
CUse the Closing date exception report
DNone of the above
Question 45 of 60
Your client makes food products that are sold fresh every day. They sell
everything, and any left overs are donated. Which type of item should be
used to track the sales of the food products? Choose the best answer.   
AAssembly items
BInventory parts
CService
DNon-inventory parts

Question 46 of 60
Which of the following is a good use of the customer type field? Choose the
best answer.
AGraphic arts - to track the type of work performed
BNon-Profit – to track the types of donors
CAccounting Firms – to track the profit and loss for specific parts of the firm
DConstruction – to track the different types of services provided

Question 47 of 60
What is the most efficient way to enter historical data in QuickBooks?
Choose the best answer.
AImport using .IIF files
BUse the Accountant Edition Feature Enter Batch Transactions
CEnter each transaction from scratch
DNone of the above

Question 48 of 60
To easily make entries in your client files you can do which of the following?
Choose the best answer.
AUse the QuickBooks Accountant Edition, Send General Journal Entries feature
BSend them via fax
CSend a Backup copy
DSend them via email

Question 49 of 60
To create a custom price list for a customer, you’ll do which of the
following?
AUse Price Levels
BSet up a special item for tracking prices
CUse the discount item
DNone of the above

Question 50 of 60
Your client’s store is flooded, and their inventory is damaged. You’ll do
which of the following in QuickBooks to account for the damaged inventory?
 
ACredit memo
BInventory Adjustment
CJournal Entry
DAll the Above

Question 51 of 60
Pressing CTRL + W at the same time is a shortcut in QuickBooks to display
what?
 
AEnter Bills
BBanking report
CWrite Cheques
DInvoice

Question 52 of 60
Pressing ESC does what in QuickBooks?
 
ACloses QuickBooks
BCloses the open window in QuickBooks
CDeletes the transaction
DNone of the above
Question 53 of 60
To merge duplicate list entries, you’ll do which of the following?
AChange the duplicate name to the exact same name as the list item you want to keep
and save the item. Click OK to the message to merge the names.
BDelete an entry and then re-enter the list item.
CDrag and drop the duplicate name to the existing entry to merge the names.
DClick the merge button on the duplicate entry.

Question 54 of 60
The most efficient way to create invoices for your client is to use which
feature?
ADuplicate invoices
BCreate invoices using the Customer menu
CEnter Batch Invoices
DCreate Estimate > Convert to invoices

Question 55 of 60
To copy the setup of an existing company file you can use which feature?
ACopy the file and delete information
BCopy and paste the information into the new file
CMake backup and restore
DClick File > New Company from Existing Company File

Question 56 of 60
To manually close an estimate you’ll do which of the following?
AClick Customer > Close Estimate
BOn the estimate > select Mark as Inactive
CYou must convert all items to the invoice
DNone of the above

Question 57 of 60
The best report to find the most comprehensive information about inventory
item is?
AItem Quick Report
BInventory Stock Status by Item
CProduct detail report
DTransaction list by Serial Number

Question 58 of 60
The best way to enter a sale where the payment is received at the same time
is what transaction?
 
ASales Receipt
BEstimate
CSales Order
DInvoice

Question 59 of 60
Which is NOT a good use of the journal entry in QuickBooks?
 
ATo correct incorrect postings in QuickBooks
BEntering depreciation on fixed assets
CTo enter transactions instead of using QuickBooks transaction forms
DFor year-end adjustments