QuickBooks Online Exam (Updated) Questions and Answers
4 views 0 purchase
Course
Quickbooks online
Institution
Quickbooks Online
Whterm-1ich three tasks can you perform when using Bank Feeds in the Banking area? (Choose 3) - Answer-Match transactions entered in QuickBooks to the bank information as they clear the bank.
Create a Receive Payment transaction if invoices are open in QuickBooks and one or more payments have cl...
QuickBooks Online Exam (Updated)
Questions and Answers
Whterm-1ich three tasks can you perform when using Bank Feeds in the Banking area?
(Choose 3) - Answer-Match transactions entered in QuickBooks to the bank information
as they clear the bank.
Create a Receive Payment transaction if invoices are open in QuickBooks and one or
more payments have cleared the bank.
Unreconcile a previously cleared transaction
Quickbooks online, what is the difference between voiding and deleting a check? -
Answer-D. Voiding a check keeps it in reports but reduces its value to zero
Deleting a check removes it from reports other than the Audit Log.
Move each financial report from the list on the left to the correct description on the right.
(Balance Sheet or Profit and loss statement)
1) Show 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. - Answer-1)
Balance sheet
2) Profit and loss statement
3) Profit and loss statement
4) Balance sheet
For each statement about managing unbilled expenses in Quickbooks Online, select
True or False.
1) The unbilled costs by job report displays the unbilled expenses
2) If you clear the billable check box for a cost, it is no longer a business expense.
3) You can change the billable status of a cost by selecting or clearing the Billable
check box on the check. - Answer-1) True
2) False
3) True
For each aspect of a report, select YES is you can customize that aspect or No if you
cannot.
1) The data range
2) The accounting
3) The way numbers are formatted - Answer-1) Yes
2) Yes
3) No
, For each statement about Quickbooks Online Plus, select True or False
1) Quickbooks Online Plus provides inventory tracking
2) Quickbooks Online Plus allows up to 5 user license
3) Quickbooks Online Plus provides project profitability tracking.
4) Quickbooks Online Plus includes Payroll support at no additional cost. - Answer-1)
True
2) True
3) True
4) False
For each statement about the Cash Flow Statement, select True or False
1) if shows a business's assets, liabilities, and equity
2) It summarizes the cash flowing in and out of a business
3) It is divided intro three sections: Operations, Investments, and Financing
4) It is another name for an income statement for companies that use accrual
accounting - Answer-1) False
2) True
3) True
4) False
Which list can you import into Quickbooks Online Plus from the import Data screen? -
Answer-C. Products and Services
What are three recurring transaction types in Quickbooks Online? (Choose 3) - Answer-
B) Reminder
C) Scheduled
E) Unscheduled
For which two reasons should you connect your online bank accounts to Quickbooks
Online? (Choose 2) - Answer-A. To ensure that your data remains secure
B. To help prevent data entry errors
You need to record a new transaction from a sales receipt
In which order should you perform the actions?
1) Match the the receipt
2) Select the receipt to make corrections or add missing inforamation
3) Upload an image of the receipt to Quickbooks Online
4) Create a new expense - Answer-3
1
4
2
What is a reason for setting up products or services in Quickbooks Online? - Answer-B)
To automatically message customers when items are in stock.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
