QuickBooks Chapter 4 (2024/25); Questions and Answers 100% Correct
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Course
QuickBooks
Institution
QuickBooks
QuickBooks Chapter 4 (2024/25); Questions
and Answers 100% Correct
Accrual-basis accounting matches the income from the period and the expenses
for the period in
order to determine the net income or net loss for the period. True
In QuickBooks, the Journal is called the book of final entry. ...
When completing a bank reconciliation, anything entered as a service charge or
as interest
earned will be entered in the Journal automatically when the reconciliation is
complete. ✔✔True
A Balance Sheet is prepared to prove the equality of debits and credits. ✔✔False
When the letter of the corect answer in the space povided before the question
number
A. have a closing password
B. enter a closing date in the Company Preferences for Accounting
C. enter a closing date in the Company Preferences for Reports
D. enter the traditional closing entries in debit/credit format in the General
Journal ✔✔B. enter a
closing date in the Company Preferences for Accounting
When a master account name such as "cars" is changed to "automobiles", the
subaccount
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