#1
Which of the following is a common accounting software?
Microsoft Word
Adobe Photoshop
QuickBooks
AutoCAD
#2
What is the primary function of accounting software?
Create invoices
Manage inventory
Record financial transactions
Send emails
#3
Which of the following is a characteristic of cloud-based accounting software?
Requires installation on a local computer
Accessible from any internet-enabled device
Suitable only for large enterprises
Doesn't offer data encryption
#4
What is the purpose of the general ledger in accounting software?
To record daily transactions
To manage employee payroll
To maintain a list of suppliers
To summarize all financial transactions
#5
Which of the following is a feature of accounting software?
Email filtering
Photo editing
Automatic data backup
Social media management
#6
What does the term 'debit' represent in accounting?
An increase in assets
An increase in liabilities
A decrease in assets
A decrease in equity
#7
In accounting software, what is a journal entry?
A written diary of personal experiences
A record of daily activities
A chronological record of financial transactions
A list of software bugs
#8
Which account type is typically used for recording revenue?
Liability
Expense
Asset
Income
#9
What does the term 'chart of accounts' refer to in accounting software?
A graphical representation of financial data
A list of all accounts used by a business
A summary of bank transactions
A tool for creating invoices
#10
Which financial statement is typically prepared first in the accounting cycle?
Income statement
Balance sheet
Statement of cash flows
Trial balance
#11
Which financial statement shows a company's financial position at a specific point in time?
Income statement
Balance sheet
Cash flow statement
Statement of changes in equity
#12
What is the purpose of the 'closing entries' process in accounting software?
To transfer net income to retained earnings
To close inactive bank accounts
To reconcile discrepancies in financial records
To adjust inventory balances
#13
What is the purpose of double-entry bookkeeping in accounting software?
To ensure all transactions are recorded twice
To prevent errors in financial records
To reconcile bank statements
To create financial reports
#14
What is the purpose of accrual accounting in accounting software?
To record transactions only when cash is received or paid
To record transactions when revenue is earned or expenses are incurred
To record transactions in real-time
To reconcile accounts payable
#15
Which of the following is an advantage of using accounting software over manual methods?
Increased risk of errors
Limited scalability
Faster processing of transactions
Decreased data security
#16
What is the purpose of the 'adjusting entries' process in accounting software?
To reconcile bank statements
To adjust account balances for accruals and deferrals
To create financial statements
To record customer payments
#17
What is the purpose of the 'financial ratio analysis'?
To record daily transactions
To assess a company's financial performance
To manage employee payroll
To reconcile accounts payable