Quickbook Question:

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How do you edit a collections letter?
a. You can't edit the default collection letters. You must create your own template from scratch.
b. You must click Subaccount of when you set up the new account. If you fail to mark the account as a subaccount during setup, you cannot make it a subaccount at a later time.
c. Choose Company > Prepare Letters with Envelopes > Customize Letter Templates.
d. When QuickBooks opens the letter in Word, click the Edit Template button at the top of the QuickBooks letter.

Quickbook Interview Question

Answer:

c. Choose Company > Prepare Letters with Envelopes > Customize Letter Templates.

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You notice that multiple accounts should actually be subaccounts. How can you quickly make these accounts subaccounts of another account?

a. Click on the diamond to the left of the account, drag it below the appropriate parent account, and release the mouse button. Then click on the diamond again, drag it to the right, and release the mouse button.
b. Click on an account to select it. Then click the Lists menu and select Chart of Accounts > Make subaccount.
c. You must click Subaccount of when you set up the new account. If you fail to mark the account as a subaccount during setup, you cannot make it a subaccount at a later time.
d. To make a subaccount, right-click on the account and choose Make subaccount.

When reconciling your bank account in QuickBooks, what must the beginning balance match?
a. The beginning balance should always equal the net amount of all uncleared bank transactions.
b. It should always match the opening balance on the paper bank statement.
c. It should always match the original account opening balance when the account was created.
d. The beginning balance should always be zero.