Income and Expense Accounts are located in the ________ section of the chart of accounts
What is the lower section
100
A ______ ________ is a type of ledger that says what you own, which will not likely be converted to cash within a year.
What is fixed asset.
100
______ _____ _________ is what you own which will be depleted within a year or less
What is other current asset.
100
This actor won an academy award in 2016 for the movie the Revenant.
Who is Leonardo Dicaprio
200
The Two Main register accounts: A/R and A/R record transactions _____________ when processing accounts payable and accounts receivable transactions
What is automatically
200
The _____________ is usually the one who is in charge of creating the income and expense accounts for the company
What is the QuickBooks Administrator (USER)
200
What do ledger accounts contain?
What is record of transactions. Records are often entered manually into the ledger by an accountant.
200
True or False: Only accounts of the same type can be merged.
What is True, an income account can only be merged with another income account, an expense account with an expense account.
200
This actor won an academy award in the movie the Pianist in 2002 as Władysław Szpilman
Who is Adrien Brody
300
Name 3 types of ledger accounts
What is Other Current Asset, Fixed Asset, Other Current Liability, Long Term Liability and Equity
300
The ledger accounts, assets, liability and equity, are delegated to the ________. He/she has the responsibility to ____________ create and record transactions directly into the ledger accounts
What is accountant, and manually
300
If two account names on the list are very similar or redundant, you can ______ the accounts together to make one account.
Merge
300
List the steps to activate an account in the chart of accounts
What is Select the account on the list. Click on the account button on the lower left of the screen, select show active accounts, click the grey x next to the account name to activate.
300
This actor won an academy award in 2004 starring as Ray Charles in the Ray Charles.
Who is Jamie Foxx
400
Reposition an account on a list by dragging the ________ next to the account name
What is a diamond
400
Name four types of Ledger accounts located in the Chart of Accounts.
What is fixed asset, other current asset, long term liability, and other current liability
400
T or F: You are able to delete an account in the chart of accounts if it is connected to a transaction. What can you do to remove it?
What is False, and inactivate.
400
Give a specific reason why the chart of accounts is the most important list in quickbooks.
What All transactions are mapped to an account in the chart of accounts
400
This actor won an academy award in 1997 as Melvin Udall in the movie as good as it gets.
Who is Jack Nicholson
500
Name a type of account, in the chart of accounts, where an accountant would have the responsibility to record transactions
What is fixed asset
500
List the steps to print the chart of accounts
What is select the account button on the lower left- side of screen, select print list, and follow the rest of the steps to print
500
You can merge an expense account with an income account
False
500
What name refers to the indented accounts in the chart of accounts?
What is subaccounts
500
This actor won an academy award in 1991 as Hannibal Lecter in the movie Silence of the Lambs.