Sales can be recorded in QuickBooks in the following way:
a. Using the journal entry method
b. Creating a sales receipt
c. Creating an invoice
d. All of the above
Question 2
If an Enterprise Fund transfers employer contributions to the Pension Trust Fund, which of the following best describes the effect of the transaction on each fund?
a. The Enterprise Fund will report expenses and the Pension Trust Fund will report revenues.
b. The Enterprise Fund will report deductions and the Pension Trust Fund will report additions.
c. The Enterprise Fund will report expenses and the Pension Trust Fund will report additions.
d. The Enterprise Fund will report transfers out and the Pension Trust Fund will report transfers in.
e. The Enterprise Fund will report expenditures and the Pension Trust Fund will report revenues.
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