100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
QuickBooks Chapter 4 (2024/25); Questions and Answers 100% Correct £9.78
Add to cart
Quickly navigate to
Preview
  2.  
  3. QuickBooks
  4.  
  5. QuickBooks

Exam (elaborations)

QuickBooks Chapter 4 (2024/25); Questions and Answers 100% Correct

 0 purchase
  • Module
  • QuickBooks
  • Institution
  • QuickBooks

QuickBooks Chapter 4 (2024/25); Questions and Answers 100% Correct Accrual-basis accounting matches the income from the period and the expenses for the period in order to determine the net income or net loss for the period. True In QuickBooks, the Journal is called the book of final entry. ...

[Show more]

Preview 2 out of 7  pages

Document information

  • August 26, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • quickbooks chapter 4 202425
  • questions and answers 100 correct

Written for

  • QuickBooks
  • QuickBooks

Seller

avatar-seller
TheeGrades

Reviews received

Content preview

QuickBooks Chapter 4 (2024/25); Questions
and Answers 100% Correct
Accrual-basis accounting matches the income from the period and the expenses

for the period in


order to determine the net income or net loss for the period. ✔✔True


In QuickBooks, the Journal is called the book of final entry. ✔✔False


An account may be deleted at any time. ✔✔False


In a sole proprietorship, an owner's name is added to the Vendor List for

recording withdrawals.


✔✔False


Additional investments made by an owner may be cash or non-cash items.

✔✔True


QuickBooks records every transaction in the Journal. ✔✔True


A Reconciliation Detail Report prints the last two bank reconciliation reports.

✔✔False


Once an account has been used in a transaction, no changes may be made to the

account name.

, QuickBooks Chapter 4 (2024/25); Questions
and Answers 100% Correct
✔✔False


When completing a bank reconciliation, anything entered as a service charge or

as interest


earned will be entered in the Journal automatically when the reconciliation is

complete. ✔✔True


A Balance Sheet is prepared to prove the equality of debits and credits. ✔✔False


When the letter of the corect answer in the space povided before the question

number


A. have a closing password


B. enter a closing date in the Company Preferences for Accounting


C. enter a closing date in the Company Preferences for Reports


D. enter the traditional closing entries in debit/credit format in the General

Journal ✔✔B. enter a


closing date in the Company Preferences for Accounting


When a master account name such as "cars" is changed to "automobiles", the

subaccount

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

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 TheeGrades. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £9.78. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69411 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling
£9.78
  • (0)
Add to cart
Added