Chapter 2: Vendors

Question 1

Vendor

Answer 1

Someone from whom the business buys goods or services.

Question 2

Pay Bills Window

Answer 2

Activity window used to pay bills previously entered in the Enter Bills window.

Question 3

Unpaid Bills Report

Answer 3

A report that lists all unpaid vendor bills at a specific date.

Question 4

Enter Bills Window

Answer 4

Activity window used I record vendor bills to be paid at a later date.

Question 5

Vendor Contact List Report

Answer 5

Report that lists all vendors from whom the company buys goods and services.

Question 6

Write Checks Window

Answer 6

Activity window used to record cash purchase of goods or services from a vendor.

Question 7

Vendor Center

Answer 7

Contains a file for all vendors with whom the company does business with.

Question 8

Credit Memo

Answer 8

Processed through the Enter Bills window to reflect a reduction of the vendor’s liability due to a credit for return or allowance.

Question 9

Journal Report

Answer 9

Activities displayed in general journal format for a specified period of time.

Question 10

System Default Account

Answer 10

A pre-identified general ledger account that will increase or decrease automatically depending on the type of transaction entered.