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QuickBooks Online Exam (Updated) Exam Questions with Correct Answers
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An existing vendor decides to purchase products from your company in Quickbooks online, you set up a customer account for the vendor. For each account field, select Yes if the vendor and customer account entries must be unique or No if they can be identical. 1) First name 2) Last name 3) Displa...

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  • October 3, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • quickbooks online exam updated exam questions wi
  • an existing vendor decides to purchase products fr

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QuickBooks Online Exam (Updated)
Exam Questions with Correct Answers
An existing vendor decides to purchase products from your company in Quickbooks
online, you set up a customer account for the vendor. For each account field, select Yes
if the vendor and customer account entries must be unique or No if they can be
identical.
1) First name
2) Last name
3) Display name
4) Company name - Answer-1) No
2) No
3) Yes
4) Yes

Complete the sentences by selecting the correct option from each drop down list.
1) A transaction erases it completly from your books
2) An invoice does NOT alter any payment if you've recorded for that invoice
3) A transaction does NOT affect your account balance and you keep a record of that
transaction - Answer-1) Deleting
2) Voiding
3) Voiding

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 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 statement about merging vendor accounts, select True or False.
1) After two vendors are merged, the action cannot be undone.
2) To begin merging two vendors, edit the vendor record you want to keep

, 3) To merge one vendor record with another, change the Company Name or the First
and Last names to match the other vendor, - Answer-1) True
2) False
3) True

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 QuickBooks Payments in QuickBooks Online, select True or
False
1) Quickbooks payment allows you to accept payments directly from customers
2) Quickbooks payment accepts credit cards, debit cards,cash, checks, and ACH bank
transfers.
3)Transaction fees for using Quickbooks payments are changed on a seperate monthly
invoice from Intuit. - Answer-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 Customers form
2) You must specify payment terms when setting up a new customer
3) If you do not select payment terms for a customer, QuickBooks Online assigns the
default invoice terms. - Answer-1) True
2) False
3) True

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

For each statement about the risks and benefits of extending functionally through apps,
select True or False

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