E-Learning Day 16: Review Chapter 2

Review Chapter 2 for Friday's Test

Chapter 2 Kahoot

1. use your memory to complete as much as you can of the Chapter 2 Comprehension Check
• do NOT use your notes at first
2. review your notes to learn the things you do not know. 
• do NOT fill in the answers while you are reviewing
• you may also use the Chapter 2 Notes if you need to
3. go back and try to answer the questions you did not know at first 
• Do NOT use your notes
4. review again to learn the stuff you do not know
5. complete the online version of the Chapter 2 Comprehension Check
6. Watch the following videos and take notes as you watch
• QuickBooks Online: Customizing the Chart of Accounts (8:23)
• Setting up the Chart of Accounts Part 1 (4:15)
• Setting up the Chart of Accounts Part 2 (3:09)
• How to Set Up Chart of Accounts in QuickBooks Online (6:35)
• these videos may use an older interface 
• it won't necessarily look the same way as the current interface
7. When ready, use this Quizlet to start studying for the Certification Exam
• Obviously, you won't know a lot of these questions since we just started. However, I think you will be surprised by how much you have already learned

Make sure you can answer these questions:

1. What is a Chart of Accounts?
2. What are accounts?
3. What are sub-accounts?
4. When and how is a Chart of Accounts created in QuickBooks?
5. What should a business consider when customizing its Chart of Accounts?
6. List three ways a business might choose to customize its Chart of Accounts:
7. List the steps for two different ways to display the Chart of Accounts:
8. Create a chart that shows the numbering system for the different account types:
9. Describe the steps necessary to display account numbers in the Chart of Accounts:
10. Describe the steps necessary to enter account numbers in the Chart of Accounts:
11. What is the purpose of a Register in QuickBooks?
12. Create a chart that shows the different tax forms by ownership type:
13. Describe the relationship between the Chart of Accounts and a company’s tax form:
14. List the steps necessary to add new accounts to the Chart of Accounts:
15. List the steps necessary to edit an account in the Chart of Accounts:
16. List the steps necessary to delete an account from the Chart of Accounts:
17. When can’t you delete an account?
18. What is the primary objective of accounting?
19. What is the purpose of a financial statement?
20. List examples of internal users of financial reports:
21. List examples of external users of financial reports:
22. List and describe the three main financial statements for a business:
23. How do you know if an account is an asset?
24. How do you know if an account is a liability?
25. What is the purpose of an income account?
26. What is the purpose of an expense account?
27. What is the formula for calculating net income?
28. What are permanent accounts?
29. What are temporary accounts?

Review Chapter 1 for Friday's Test

• Chapter 1 Kahoot version A
• Chapter 1 Kahoot version B
• Chapter 1 Notes

Work on the Chapter 1 Comprehension Check

1. complete the online version of the Chapter 1 Comprehension Check
2. Watch the following videos and take notes as you watch
• How To Navigate In QuickBooks
• Lesson 1 How To Set Up Company Information In QuickBooks Online
3. When ready, use this Quizlet to start studying for the certification exam

Make sure you can answer these questions:

1. What is QuickBooks?
2. Who uses QuickBooks?
3. How can you access QuickBooks online?
4. List nine parts of the Navigation Bar:
5. List the four QBO tools:
6. List the items that can be created for a vendor:
7. List the items that can be created for a customer:
8. List the items that can be created for an employee:
9. List the Other Items that can be created:
10. List options available under the Gear Icon:
11. List the settings that can be changed for Your Company:
12. List the settings that can be changed for Lists:
13. List the settings that can be changed for Tools:
14. List the settings that can be changed for Profile:
15. What is a Chart of Accounts?
16. What is a Recurring Transaction?