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QBO Certification questions with answers,
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QBO Certification questions with answers,
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QBO Certification questions withanswers,
Which two user types below would be able to write a check in QuickBooks online ANS --Company admin
-Standard user with vendor access only.
Which two statements below are correct as it relates to the close the books feature ANS --if a warning is
used instead of a password and user is not stopped for making the change
-When setting up a closing date, you can choose to warn users or require a password for any
transactions that are attempted to be edited, deleted, or added prior to the closing date
First two steps for changing the company address ANS --click the Settings icon on the homepage
-Select account and settings
steps for tracking transactions for departments in the correct order ANS --turn on classes in company
settings
-Create your departments on the class list
-Turn on departmental tracking, and Company settings
-Run the profit and loss by class report
-On sales and expense transactions. Select the classes associated with each transaction.
-Click the tracking button
A company makes for sale in records expected revenue as an accounts receivable transaction ANS -
Accrual
A company makes a sale, but revenues is not realized until the invoice is paid ANS -cash basis
A company receives their utility bill, but the expenses not recorded until the bill is paid ANS -Cash basis
, provides a more accurate picture of the profitability of a company because it includes accounts
receivables and payables ANS -Accrual
true or false:
Accounts numbers can be used, but do not have to be ANS -true
true or false:
All accounts must have a type, detail types are optional ANS -false
true or false:
accounts with the type "fixed assets" would appear on the profit and loss report ANS -false
Which three statements are true about merging list entries ANS --you can only merge names from the
same time
-You cannot merge expenses and items
-You cannot merge a customer with a vendor entry
Two statements that are true about creating a recurring invoice ANS --to create the recurring invoice
open or create the invoice, and then click make recurring
-You can set a recurring invoice to run for fixed number of times
true or false:
A scheduled recurring transaction will process automatically at the set interval of recurrence ANS -true
true or false:
an unscheduled recurring transaction must have a set end date ANS -false
true or false:
a reminder recurring transaction will process automatically at the set interval of recurrence ANS -false
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