eSkill Test

Of the entries listed below, which one would be part of the end-of-period adjusting process?

Select the single best answer:

A. Credit to Accounts Payable and Debit to Prepaid Insurance

B. Credit to Accounts Receivable and Debit to Cash

C. Debit to Inventory and Credit to Cash

D. Credit to Prepaid Insurance and Debit to Insurance Expense

E. Debit to Inventory and Credit to Accounts Payable

What is your last resort, and the most time-consuming step, if you can't balance your trial balance?

Select the single best answer:

A. Check your math.

B. Check the debits and credits.

C. Check your balances copied to the trial balance worksheet.

D. Check your totals in the journal summaries.

E. Check your original transaction entries.

As a general rule (disregarding certain exceptions, limitations, and income thresholds), when is a taxpayer permitted by the IRS to use the Cash-Basis method instead of the Accrual method for tax purposes?

Select all answers that apply:

A. The taxpayer may use the Cash-Basis method if his or her principal business activity is the provision of services, even if the taxpayer is providing property incident to the services.

B. The taxpayer may use the Cash-Basis method if his or her principal business activity is not retailing, wholesaling, manufacturing, mining, publishing, or sound recording.

C. The taxpayer may use the Cash-Basis method if his or her principal business activity is related to printing, photographic plates, film, videotape, etc.

D. The taxpayer may use the Cash-Basis method if his or her principal business activity is custom manufacturing, as defined according to generally accepted accounting principles.

E. The taxpayer may use the Cash-Basis method if he or she is involved in mass reproduction or publishing of his or her own creative work.

You should never choose to use the Cash-Basis accounting method if ____________________________________.

Select all answers that apply:

A. you have more than one business

B. your business carries over inventory month-to-month and year-to-year

C. your business allows customers to buy on store credit

D. you have a farming business

E. you have gross annual sales of more than $5 million

The following states: Alaska, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, don't have _____. (Please type in the option below that best completes the sentence.)

income tax

sales tax

excise tax

franchise tax

import tax

What taxes are paid into FUTA?

Select the single best answer:

A. Social Security taxes

B. Medicare taxes

C. Depositing taxes

D. Employer taxes

E. Unemployment taxes

What form must every employer file with the government, in order to report taxes paid or collected on behalf of employees?

Select the single best answer:

A. Form 941 must be filed monthly.

B. Form 941 must be filed quarterly.

C. Form 149 must be filed monthly.

D. Form 149 must be filed quarterly.

E. Form 149 must be filed yearly.

How much does an employee pay for Social Security (FICA) taxes?

Select the single best answer:

A. 1.45%

B. 2%

C. 6.2%

D. 5.45%

E. The employee doesn't have to pay for Social Security taxes.

When determining your company's worker's compensation insurance premium, what key factors are used?

Select all answers that apply:

A. the wages that are paid to your employees

B. the claim history of your business

C. the amount of profit your company makes

D. the industry your employees can be classified under

E. the classification of your employees as exempt or nonexempt

Taxes that are withheld from employees can be deposited __________.

Select the single best answer:

A. at a Federal Reserve Bank

B. at an approved financial institution

C. electronically, using EFTPS (Electronic Federal Tax Payment System)

D. All of the options above are correct. Any of the three methods can be used, depending on the amount that needs to be deposited

E. at any bank

If your company allows customers to buy on credit, you will ________________________________.

Select all answers that apply:

A. need to track purchases in the Accounts Payable account

B. be responsible for recording the sales transactions

C. be responsible for maintaining the individual records of customers who buy on store credit

D. need to track payments these customers make on their account to keep their outstanding balance updated

E. need to count inventory periodically

Sales revenue was down for the year, causing your profit levels to be lower than expected. Which of the following do you need to review, in order to determine what impacted your sales revenue?

Select all answers that apply:

A. the Profit and Loss account

B. the Purchase Discounts account

C. the Sales Returns and Allowances account

D. the Sales Discount account

E. the Cash account

How many times does the word "blue" appear in the text below?

It was a very nice day outside. The sky was bright blue and the birds were singing their wonderful songs. A blue bird came to Sarah's window, singing more beautifully than ever. From her blue chair, Sarah got up for a better sight of the bird. She was feeling a little blue, so that song cheered her up. That was until her mother came in, scaring the blue bird away and bringing in a brand new blue dress.

Select the single best answer:

A. 3

B. 4

C. 5

D. 6

E. 7

Which of the following words is an antonym for one of the words in the text below?

Snow had fallen in the morning, but now the sky was clear and icy. With a glance at the frosty stars, Sam stepped out quickly. He feared that Sarah, tired of waiting for him, might have gone home. She had been at that interview all day with a tremendous smile upon her face to make a very good first impression.

Select the single best answer:

A. gaze

B. swiftly

C. main

D. atone

E. logical

What is the plural form of the following word?

aircraft

Select the single best answer:

A. aircraft

B. aircrafts

C. aircraften

D. aircraftes

E. aircraftse

Which of the following words can be formed by reorganizing the letters B-E-G-I-I-L-O-O-O-S-T-X?

Select the single best answer:

A. EXOBIOLOGIST

B. EREMOLOGIST

C. ETYMOLOGIST

D. ETHNOLOGIST

E. EMETOLOGIST

In the image below, which of the small numbered squares represents the missing square on the newspaper page?

Select the single best answer:

A. I

B. II

C. III

D. IV

E. V

Which of the following pictures best illustrates the scenario described in the paragraph below?

Laura received a call from a company. She was asked if she could come to an interview for a job at that company on the next day at 9 o'clock. She accepted, and began preparing for the interview. At 9 o'clock the next day, she met the company's director, who asked her about what was written in her resume.

Select the single best answer:

A. I

B. II

C. III

D. IV

E. V

If you put the pieces of the graphic below together, which letter will it form?

Select the single best answer:

 A. R

 B. V

 C. X

 D. K

 E. W

Which of the following options best describes the author of the following passage?

Shooting in low light has always fascinated me, though I have never really been able to do it in a satisfactory manner. It takes more than just intuition and good equipment; it takes an experienced eye and high-level knowledge of all the technical issues implied. But when you see the result of all that hard work, you get a most fulfilling and rewarding feeling. People think we artists are a bit crazy; I would say we are indeed: crazy for beauty; a beauty that transpires through the body, turning the skin into light and the flesh into shadow.

Select the single best answer:

A. a hunter who thinks trophies are pieces of art

B. a murderer who has psychiatric problems and regards himself as an artist

C. a football player who enjoys playing at night

D. a painter speaking about abstract concepts

E. a photographer talking about portraiture

In the passage below, who is wearing pink sandals?

Sandra has four daughters: Anne, Nicole, Jessie, and Rose. Today they are going for a walk in the park. It is a sunny day, so Sandra is dressed accordingly. She wears a pink dress, a white hat, and sunglasses. Anne is dressed in a lovely turquoise skirt and a white T-shirt, and her hair is braided in the back. She wears pink sandals. Nicole wears a red dress, a yellow bag, and blue sunglasses. Jessie wears orange shorts, a violet blouse, and a red hat. Rose is dressed in white: white sandals, a white hat, a white long dress, and a white bag.

Select the single best answer:

A. Sandra

B. Anne

C. Nicole

D. Jessie

E. Rose

Which of the following statements are implied in the e-mail shown below?

Select all answers that apply:

A. John's task is to create the invitations for an event that will take place in a local restaurant.

B. John should start trying some color schemes for the invitations and write back to Jane tomorrow, presenting his suggestions.

C. Some people have been asked their opinion about the colors for the invitations, and Jane wants to take their preferences into account.

D. John and Jane have had a previous conversation regarding the invitations.

E. John should first contact the people who will travel from other cities to the event.

Which of the following are correct ways to end a formal letter?

Select all answers that apply:

A. Yours faithfully,

B. Love,

C. Best regards,

D. Yours sincerely,

E. Bye,

Which of the following words best completes the sentence below?

My car was __________ a few hours ago, for being parked in the wrong place.

Select the single best answer:

A. tide

B. toad

C. towed

D. tolled

E. toed

In the text below, what does the phrase "azure blanket" mean?

Slowly, on the wooden stairs, he stands,
For it is one last time he needs to make amends
With that person that brought him in this basket,
Leaving him with nothing but the azure blanket.

Select the single best answer:

A. forest

B. sky

C. cliff

D. nature

E. time

In the text below, what does the phrase "azure blanket" mean?

Slowly, on the wooden stairs, he stands,
For it is one last time he needs to make amends
With that person that brought him in this basket,
Leaving him with nothing but the azure blanket.

Select the single best answer:

A. forest

B. sky

C. cliff

D. nature

E. time

For an ISBN-10 (International Standard Book Number) to be valid, a certain formula must be met. First, each digit must be multiplied by its position in the number, counting from the right. Then the sum of these products must be evenly divisible by 11. Based on this validation rule, which of the following ISBNs are valid?

Select all answers that apply:

A. ISBN 0-201-53082-1

B. ISBN 6-224-0957-0

C. ISBN 5-761-21645-7

D. ISBN 9-395-84012-1

E. ISBN 2-947-9363-9

The strings in the image below must respect the following validation rules: 

1. It cannot include digits 1, 2, 3, or 5. 
2. If the data includes the special characters ^, &, *, (, #, !, @ or %, then it should be colored in blue. 
3. If the data includes the 8, 6, 4, or 0 digits, then it should be colored in green.
4. If the data includes capitalized letters, then it should be bolded. 

Based on the above validation rules, which of the lines shown in the image below do not follow at least one of these rules?

Select all answers that apply:

A. I

B. II

C. III

D. IV

E. V

Dept1 is active only every other day. 
Dept2- is active once a week, but must not be active on the days that Dept6, Dept7, Dept8, and Dept10 are. 
Dept3 is active only on Tuesdays and Thursdays. 
Dept4 is active only three days a week, just not the day Dept 9 is. 
Dept5 is active only on the weekend. 
Dept6 is active on all the days that Dept1 is not. 
Dept7 is active on the first and last days of the week. If Dept4 is active on Sunday, then Dept7 is active only on the first and second days of the week. 
Dept8 is active on all the days that Dept4 is not. 
Dept9 is active two days a week, just not the days that Dept3 is. 
Dept10 is active during any two of the days Dept6 is not. 

Considering the above information, for which of the following departments have the corresponding working days been incorrectly marked?

Select the single best answer:

A. Dept2

B. Dept5

C. Dept6

D. Dept8

E. Dept10

In the image shown below, considering the rules in section A, which of the numbered statements in section B are true?

Select all answers that apply:

A. I

B. II

C. III

D. IV

E. V

In the image shown below, each square in the drawing is allocated a specific point count based on its color (illustrated in the bottom section of the image). If the point count is 0 for white squares and only squares with point count are considered to be part of the drawing, which of the following statements is true?

Select the single best answer:

A. The sum of the point counts for all squares is 266.

B. The sum of the point counts for all squares is 264.

C. The sum of the point counts for all squares is 268.

D. The sum of the point counts for all squares is greater than 270.

E. The answer cannot be determined from the information given.

If the character % is given a point count of 6 and the character $ is given a point count of 7, which of the following numbers equals the product of the total point count for both characters in the string of text shown in the image below?

Select the single best answer:

A. 3,259

B. 3,696

C. 3,524

D. 3,712

E. 4,536

A database shows the following information about five different clients. Which of the following statements is correct?

Select the single best answer:

A. Mr. Duppont has a ClientID ending in 46 and a Client Code containing the characters ABX1.

B. Mr. Duupont has a ClientID ending in an even number and a Client Code containing the characters $P3.

C. Mr. Duhpont is not a client.

D. Mr. Dupont has a total of thirteen digits in his ClientID.

E. Mr. Dupontt's Client Code is the same as Mr. Duhpont's.

Assuming that the letters' case is irrelevant, which of the following statements are true regarding the string of text shown in the image below?

Select all answers that apply:

A. The string has more Ds than Es.

B. The string has more As than all the other letters combined.

C. The string has more Bs than Es.

D. The string has more Bs than Ds.

E. The string has more Cs than Es.

The sixteen digits of the credit cards issued by the imaginary company SIVA must follow the rules shown in the image below. Which of the following sixteen-digit numbers is a valid SIVA number?

Select the single best answer:

A. 4565 4259 3719 1685

B. 4465 2001 8962 3254

C. 4835 2336 0001 1245

D. 9524 4565 3719 0389

E. 4689 1200 3655 8749

The table shown in the image below assigns each letter-number pair a corresponding symbol. Based on this table, which of the following statements are true?

Select all answers that apply:

A. The string A2 B5 D3 C4 D1 C4 C1 D3 can be rewritten as $){?[*!{.

B. The string A4 B2 C3 C4 D1 B5 C2 C3 can be rewritten as *">?[)<>.

C. The string A3 A4 B5 B1 C2 D3 C5 A1 can be rewritten as £*)@<{@%.

D. The string C3 C2 C1 A3 A4 A5 B4 B3 can be rewritten as ><!£*~(%.

E. The string D1 D2 A1 A2 B1 B2 C1 C2 can be rewritten as []%$@"!<.

Which of the following series of characters complies with the rules outlined in the image below?

Select the single best answer:

A. 548623A45236L3W9

B. 55PQ459814329RS4

C. 45643$&5487221369

D. 548623A45236L3W81

E. RT458+52145655%-

After the year ends, in QuickBooks Enterprise Edition 2014, the difference between income and expenses will be moved to which of the following general ledger accounts?

 

Select the single best answer:

A. Opening Balance account

B. Retained Earnings account

C. Owner's Equity account

D. Misposting account

E. Shareholder Distribution account

Under the accrual method of accounting, which of the following actions best describes the result of entering a new invoice in QuickBooks Enterprise Edition 2014?

Select the single best answer:

A. The invoice will be saved as a draft; however, it will be posted once it has been paid.

B. The invoice will be posted whether it was paid or not.

C. Only the customer's balance will be updated. The Chart of Accounts will be updated once the invoice has been allocated.

D. Only the Chart of Accounts will be updated. The customer's balance will be updated once the invoice has been allocated.

E. none of the above

By default, your company's fiscal year consists of twelve periods. From which of the following menu options can you change the number of periods?

 

Select the single best answer:

A. Company

B. Lists

C. Accounting

D. The number of accounting periods cannot be changed.

E. Edit

Using the option shown in the image below, which of the following types of data are able to be imported?

Select all answers that apply:

A. invoice transactions

B. customers

C. vendors

D. accounts

E. payment transactions

Which of the following features can be enabled but not reversed?

Select the single best answer:

A. Accountant’s Copy of QuickBooks

B. Multiple Currencies

C. Online Banking

D. Rebuild Data

E. Earlier QuickBooks Version

Which of the following functions is not available while using an accountant's copy of QuickBooks?

Select the single best answer:

A. entering invoices

B. entering payment transactions

C. entering payroll transactions

D. entering banking transactions

E. deleting invoices

You need to enter an opening balance in Accounts Payable. Which of the following actions should be taken in order to record this?

Select the single best answer:

A. Use the Chart of Accounts.

B. Use the vendor accounts.

C. Use the customer accounts.

D. Use the Register page.

E. An opening balance for Accounts Payable cannot be created.

Which of the following methods of calculating the value of inventory is available in QuickBooks Enterprise Edition 2014?

Select the single best answer:

A. LIFO only

B. FIFO only

C. Average Cost only

D. Average Cost or FIFO

E. LIFO or FIFO

Which of the following modes are available for setting online bank feeds in QuickBooks Enterprise Edition 2014?

 

Select all answers that apply:

A. Classic

B. Traditional

C. Express

D. Standard

E. Web Connect

Which of the following reports lists the individual transactions that make up the amount you clicked?

Select the single best answer:

A. Activity Report

B. Aging Summary

C. Average Days to Pay

D. QuickZoom or Transaction Detail Report

E. Collection Report

You would like to pay your workers based on only specific work that has been completed. Which of the following compensation types should you use?

 

 

Select the single best answer:

A. Salary

B. Bonus

C. Commission

D. Piecework

E. Wages

How many depreciation bases are available in the QuickBooks Enterprise Edition 2014 Fixed Asset Manager?

 

Select the single best answer:

A. 3

B. 2

C. 5

D. 6

E. 4