QBO Exam; Questions with Complete Solutions 100% Verified
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Course
QBO Certificaiton
Institution
QBO Certificaiton
QBO Exam; Questions with Complete Solutions 100%
Verified
A new client has asked you to review their QBO company, which was set up by their previous
bookkeeper. You start by looking at the client overview screen. If QBO was set up correctly, what
figure should you expect to see in the Openi...
QBO Exam; Questions with Complete Solutions 100%
Verified
A new client has asked you to review their QBO company, which was set up by their previous
bookkeeper. You start by looking at the client overview screen. If QBO was set up correctly, what
figure should you expect to see in the Opening Balance equity account balance? Correct
answer-A balance of zero
For clients with a QuickBooks Online Plus account, what's the maximum number of billable
users? Correct answer-5
Your client needs a QBO solution that includes tracking for Sales, Sales Tax, and Inventory. What
is the minimum subscription level in QBO you would recommend? Correct answer-Plus
You want to add an app to your firm's books in QBO Accountant. Which 2 levels of account user
can add apps? Correct answer-Full access team user, Firm Primary Admin
Which 2 of these statements about setting up and editing a chart of accounts are correct?
Correct answer-Account names can be edited
Deactivated accounts can be reactivated
Your client has noticed a duplicate transaction in the bank feed. What advice would you give
them? Correct answer-You need to exclude the transaction if it's a duplicate because it'll
cause the bank balance and reports to be incorrect.
, QBO Exam; Questions with Complete Solutions 100%
Verified
Which tab in QBO Banking shows the bank data that has not yet been accepted into QBO?
Correct answer-For Review
You need to add a gift basket with a collection of beauty products to your client's list of Products
and Services. Which item type would you assign this to in QBO? Correct answer-Bundle
Which 3 of these steps should you complete before you close a client's books? Correct
answer-Reconcile all bank and credit card accounts
Substantiate all balance sheet accounts
Review the profit and loss accounts
Your client wants to make it quick and easy for customers to make one-off payment straight
from their smartphone. Which sales process is best suited to this? Correct answer-Use
the payment links tab in the Sales Center to send a payment link to the customer
Which 2 of these are posting transactions? Correct answer-Credit memos, vendor credits
You are onboarding a new client in QBO. Which 3 questions should you ask your client to help
you set up their sales tax correctly? Correct answer-Do they do business in more than
one state?
What agencies do they need to pay their sales tax to?
What is their filing frequency?
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