Reference no: EM132915209

Problem 1: How are accounts organized in the Chart of Accounts by default?

a. Numerically by account number

b. Chronologically by creation date

c. Alphabetically within their account type

d. Numerically by account balance

Problem 2: Which form of business organization should you choose when creating a company if you are not sure which form applies?

a. Sole proprietorship

b. Non-profit

c. Corporation

d. Other

Problem 3: How can the opening balance of an account be edited once an account is created?

a. Using the Account Register

b. From Edit Account on the Activities list

c. From the Account Information option on the Edit menu

d. Using Opening Balances from the Company menu

Problem 4: Items that are not purchased, held in stock or tracked as inventory are known as:

a. Sales Tax items

b. Service items

c. Zero-Inventory items

d. Non-Inventory Part items