Junior Bookkeeper Skills Assessment Phase 2

Name *

First

Last

1. A Bill is used when payment has already been made. *

2. Which transaction should be entered as a Bill? *

3. Which account increases when a Bill is entered? *

4. An Expense creates an Accounts Payable balance. *

5. A supplier emails an invoice with payment due in 15 days. How should it be entered? *

6. Bills appear on the Vendor Aging Summary. *

7. Which report is used to monitor unpaid supplier invoices? *

8. Bills should normally be paid using the Pay Bills function in QuickBooks. *

9. Which transaction should generally be recorded as an Expense? *

10. Entering an Expense instead of paying an existing Bill can create duplicate expenses. *

11. Accounts Payable represents: *

12. Every supplier purchase should be entered as an Expense. *

13. Which financial statement contains the Accounts Payable account? *

14. Entering a Bill increases Accounts Payable until the Bill is paid. *

15. A purchase made using the company Visa card at the time of purchase should generally be entered as: *

16. Deleting a paid Bill is the correct method for removing it from the Vendor Aging Summary. *

17. What happens when a Bill is paid? *

18. Proper use of Bills improves cash flow planning and financial reporting. *

19. Which of the following situations requires the use of a Bill? *

trail. 6. and

20. Using Bills correctly helps produce more accurate financial statements and provides a complete audit trail. *