Question

please help

10. QuickBooks can handle which of the following types of payment scenarios: a. Prepayment of a product or service b. Down payment towards a product or service c. Overpayments from a customer d. Partial payments from a customer e. All of the above 11. Why would you uncheck the 'Bill Received' checkbox when entering a bill on the 'Enter Bills' Screen? a. To keep inventory up to date when you have received items but have not received the corresponding bill b. When you do not want the bill to be printed c. If there is a discrepancy between the bill received and your expectations d. If you are not planning on paying the bill until closer to its due date e. All of the above 12. You want to run a "Profit and Loss' report. In which reporting category would you find it? a. Company & Financial b. Customers & Receivables c. Sales Reports d. Purchases Reports 13. Which of the following GST/PST preferences are not available in QuickBooks? a. GST/PST reporting period b. Government tax agency to remit payments to c. Default tax codes d. Electronically file your GST/PST payment

Answer 1

10 - The right answer is option E all of the above

As Quick books follow fully integration of all accounts at the same time whether its invoice generating or payment received , it reconcile each and every transactions , so in the given question quick books handle each and every scenario whether advance , down payment, over or partial , quick books provide flexible invoicing method.

11-the right answer is part (a) as quick books provide option to record inventory without the bill received so that inventory remain updated as , there is 2 option rceording inventory with bill and without bill

all other answers b,c,d , e are wrong

12-the right answer is part (a) company and financials , as in this section we get overview of all the financial reports like balance sheet , profit / loss statement and cash flow details

(b) customer and receivables is wrong because it contains all the payment and sales we have done to our customers and no of customers details

c) sales report is wrong because it only contain , sales return , sales , credit sales , cash sales details

d)purchase report is wrong because it contain details report related to purchase made through credit or cash and payment due

13(-b) is right answer government tax agency to remit payment to

a, c,d is wrong because quick books contain all these three section as we can see the gst reports and it tell reporting period , it helps us find tax codes and as per our selection while generating the gst /pst form it has section where we can file gst electronically also