21.When a customer is billed when the project/job reaches specified milestones, what type of billing does the company use?
A.Purchase Order billing
D.Normal (end-of-job) billing
22.Online bill pay allows you to:
A.Sell goods over the internet
B.Email invoices to customers
C.Receive online payments from customers
D.QuickBooks does not support online bill pay
23.When recording a payment from a customer, if the customer does not send the full amount:
A.Record the full amount as paid and make a note in the To Do List to follow up with the customer regarding the remainder of the payment
B.You can record the partial payment but must leave the funds in the Undeposited Funds account until receiving the full payment
C.You must wait until the customer pays the full amount to record the payment
D.Enter the amount received in the Amount field in the Customer Payment window
24.The Undeposited Funds account:
A.Partial payments received from customers
B.Holds funds received but not deposited in the bank
C.Funds the company owes vendors
D.Petty Cash funds
25.Which report provides information on customers who have overdue accounts?
A.Accounts Receivable Aging Summary
B.Accounts Receivable Aging Detail
C.Customers with Open Invoices
26.Briefly explain the difference between creating a sales receipt and creating an invoice.
27.Name 3 (three) reasons why a job for a customer might be “pending”.