QuickBooks Online Chapter 7 (Latest Update); Questions with Complete Solutions
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Course
Quickbooks online
Institution
Quickbooks Online
QuickBooks Online Chapter 7 (Latest Update);
Questions with Complete Solutions
QuickBooks Online Chapter 7
You must have a product or service to create a purchase order. false
When you purchase inventory, the purchases account increases. false
Inventory tracking in QuickBooks Online allows yo...
You must have a product or service to create a purchase order. ✔✔false
When you purchase inventory, the purchases account increases. ✔✔false
Inventory tracking in QuickBooks Online allows you to define the costing
method. ✔✔false
A non-inventory product is for supplies only. ✔✔false
QuickBooks Online allows for partial shipment against a purchase order.
✔✔false
An Inventory Valuation Summary report provides only quantities on hand.
✔✔false
Where do you enable the inventory tracking feature in QuickBooks Online?
✔✔Accounts and
Settings
What does FIFO mean? ✔✔first in first out
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