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Question 1 The Banking Menu allows you to import transactions from a bank or credit card account.
Question 1
The Banking Menu allows you to import transactions from a bank or credit card account.
True
False
Question 2
In a manual accounting system, when a transfer out of one cash account is recorded in the general journal, the corresponding transfer into another cash account is recorded in the _____________ journal.
sales
payroll
cash payments
general
Question 3
Balance differences identified during a bank reconciliation fall into three categories:
errors, omissions, and penalties
timing differences, omissions, errors
omissions, fees and penalties
omissions, errors, and fraud
Question 4
Cleared checks have not yet been received by the bank.
True
False
Question 5
What two tabs are displayed in the bottom half of the Enter Credit Card Charges window?
Assets and Liabilities
Revenue and Expenses
Expenses and Items
Debits and Credits
Question 6
in accounting terms, the movement of money from one account to another is called a(n)
offset
shift
transfer
reverse
Question 7
The QuickBooks Reconcile window consists of __________ parts.
4
3
2
8
Question 8
When starting reconciliation you do not enter the following information.
Statement Date
Ending Balance
Interest
Number of checks in the reconciliation
Question 9
A zero (0) in this field of the Reconcile window indicates that all reconciling items have been accounted for
difference
ending balance
cleared balance
beginning balance
Question 10
You can only transfer funds between cash accounts after the 15th of each month.
True
False