Quickbooks (Intuit) Certification Exam
Move each answer financial report from the list on the left to the correct description on
the right.
1) Shows assets, liabilities, and equity at one point in time
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period
4) Provides information about the current financial health of a business - ANS-1)
Balance sheet
2) Balance sheet
3) Profit & loss
4) Profit & loss
You want to pass on some of your costs directly to customers in Quicbooks Online. You
are able to assign a customer to a cost, but you cannot mark it as billable. You need to
make costs billable in Quickbooks Online. What should you do? - ANS-C) In the
account and settings area, on the Expenses tab, toggle on Make expenses and items
billable.
You are sending an invoice to a customer. You need to set up the payment terms. What
does a payment term of "Net 15" mean? - ANS-A) The customer must pay the invoice in
full within 15 days of the invoice date.
Which lists can you import into Quickbooks Online Plus from the import Data screen? -
ANS-A) Products and services
1) Quickbooks Payments allows you to accept payments directly from customers.
2) Quickbooks Paymentts accepts credit cards, debit cards, cash, checks, and ACH
bank transfers.
3) Transaction fees for using Quickbooks Payments are changed on a separate monthly
invoice from Intuit. - ANS-1) True
2) True
3) False
For each statement about setting up payment terms for a new customer in Quickbooks
Online, select True or False.
1) You can create new payment terms from the New Customer form.
2) You must specify payment terms when setting up a new customer
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