QBO Certification Exam Questions with
Correct Verified Answers, Already
Passed! (Complete & Accurate)
The Name field (customer/vendor) is optional on Invoices and Bills - ANS
✓False
To speed up the set up process you can import certain lists in QuickBooks.
Which of the following CAN be imported? - ANS ✓Chart of Accounts, products
and services, customers, vendors
Two customers with unpaid invoices paid you in cash today. Hooray! You
really needed that money because your bank balance is almost zero! You
immediately run to the bank and deposit the $1000 in cash (you received
$500 from each customer). Here's the issue. The bank statement will show
just ONE deposit of $1000. However, you received 2 payments of $500 each.
Put the steps of recording these payments , so your Bank Register shows
ONE deposit of $1000, in the correct order. - ANS ✓1. Click Receive payment
next to Customer 1
2. Record the payment and deposit the money to "Undeposited Funds"
3. Click Receive payment next to customer 2
4. Record the payment and deposit the money to "Undeposited Funds"
5. Click the + icon and select Bank Deposit, Select both payments from the
list and save the $1,000 deposit
What do you use Terms for in QuickBooks? - ANS ✓To determine when a
customer invoice is due
QBO Certification
, 2
QBO
What information does QuickBooks NOT ask/need when you create a new
QuickBooks Online account for a company? - ANS ✓The owner's name
What is the proper sequence of purchasing inventory using a purchase
order? - ANS ✓1. Click the Global Create button, Plus icon, and select Purchase
order
2. Click the Global Create button, Plus icon, and select Bill
3. Click the Vendors button and select Purchase Order
What limitations does QuickBooks have when it comes to browser access? -
ANS ✓None of the above.
When you sell a product/service on an Invoice or Sales Receipt, how does
QuickBooks know where to show those sales(income statement) on the
Profit & Loss - ANS ✓You select an income account during the setup of the
product/service. Sales of the product/service increase the income account you
selected.
Which of the following could explain why a Profit and Loss shows a profit,
but the business owner does not have any money in the bank? - ANS ✓The
profit and loss was run on the Accrual Basis instead of the Cash Basis
Which of the following is NOT a list in QuickBooks Online - ANS
✓Subcontractors
Which of the following IS a list in QuickBooks online? - ANS ✓Chart of
Accounts and Classes
Which of the following statements is true about entering and paying bills in
QuickBooks? - ANS ✓If you record bills in QB, you should use Pay bills screen to
record bill
QBO Certification
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