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Which columns are mandatory when displaying customized sales

Assignment Help Financial Accounting
Reference no: EM132915196

Problem 1: Which account are cash receipts are recorded into as a debit entry by default?

a. Bank Chequing

b. Cash in Bank

c. Funds for Deposit

d. Undeposited Funds

Problem 2: Which columns are mandatory when displaying a customized sales receipt?

a. Item, Amount, Tax Code

b. Item, Description, Quantity

c. Item, Quantity, Description

d. Quantity, Amount, Tax Code

Problem 3: Which of the following statements is true regarding the audit trail in QuickBooks?

a. When a transaction is deleted, it is removed from the audit trail

b. When a previously saved transaction is changed, the original transaction will be removed from the audit trail

c. The audit trail is used to confirm that all entries have been recorded without errors

d. The audit trail cannot be turned off

Problem 4: Which of the following transactions would typically be recorded in the QuickBooks general journal?

a. Purchase of office supplies

b. Year-end adjustment for depreciation on equipment

c. Sale of merchandise to a one-time customer

d. Payment of telephone expenses

Reference no: EM132915196

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