Reference no: EM132741866

Problem 1: A non-inventory part is one of the types of line items you can use when you are filling out a sales form or purchase form. Non-inventory part items do not track merchandise that:

a. You purchase but do not resell.

b. Materials that are used in the delivery of your services.

c. You purchase and resell but do not stock in inventory or track as inventory.

d. None of the above

Problem 2: If you need to keep track of Accounts Payable, each of your suppliers must be set up on the Suppliers list.

• True
• False

Problem 3: Below are the two steps used to track accounts payable in QuickBooks, the third step is optional.

a. Deferred Charges - Enter Bill - Print Bill Payment Cheques

b. Enter Bill - Pay Bill - Print Bill Payment Cheques

c. Receive Inventory - Enter Bill - Pay Bill

d. Deferred Charges - Receive Inventory - Enter Bill