Junior Bookkeeper Skills Assessment Phase 4

Name *

First

Last

1. Every transaction imported through the bank feed should be added as a new transaction. *

2. When should you use Match? *

3. Which option creates a new accounting transaction? *

4. Matching a transaction creates duplicate expenses. *

5. A monthly bank service charge that has not yet been entered should usually be: *

6. Transfers between company bank accounts create revenue. *

7. Which transaction is generally recorded as a Transfer? *

Adding a transaction that already exists can create duplicate expenses or income. *

9. Before selecting Add, what should you do first? *

10. QuickBooks suggestions should always be accepted without review. *

11. A customer payment for an existing invoice should usually: *

12. Credit card payments are usually transfers rather than expenses. *

13. Which document provides the strongest support when determining how to code a bank feed transaction? *

14. Bank Rules eliminate the need to review transactions. *

15. Which is the greatest risk of using Add incorrectly? *

16. Searching QuickBooks before adding transactions helps prevent duplicate entries. *

a duplicate Matching

17. The primary purpose of the bank feed is to: *

18. Accuracy is more important than clearing the bank feed quickly. *

19. If money moves from one company bank account to another, it is generally classified as: *

20. Every bank feed transaction should be reviewed before it is accepted into the accounting records. *