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
Intuit Bookkeeping Exam Practice Questions and Answers 100% Pass $12.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Prep Tests
  4.  
  5. Prep Tests

Exam (elaborations)

Intuit Bookkeeping Exam Practice Questions and Answers 100% Pass
 0 purchase
  • Course
  • Prep Tests
  • Institution
  • Prep Tests

Intuit Bookkeeping Exam Practice Questions and Answers 100% Pass Four Key Elements of Bookkeeping Ethics - ANSWER-Honesty, Objectivity, Confidentiality and Professionalism What is DEALER - ANSWER-Dividends + Expenses + Assets = Liabilities + Owner's Equity (beginning) + Revenue What's is the ...

[Show more]

Preview 2 out of 12  pages

Document information

  • November 19, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • intuit bookkeeping exam practice questions and ans

Written for

  • Prep Tests
  • Prep Tests

Seller

avatar-seller
SophiaBennett

Reviews received

Content preview

Intuit Bookkeeping Exam Practice
Questions and Answers 100% Pass

Four Key Elements of Bookkeeping Ethics - ANSWER✔✔-Honesty, Objectivity,

Confidentiality and Professionalism


What is DEALER - ANSWER✔✔-Dividends + Expenses + Assets = Liabilities + Owner's

Equity (beginning) + Revenue


What's is the accounting Equation? - ANSWER✔✔-Assets = Liabilities + Equity


Profit and Loss statement. Shows the company's revenues and expenses during a

particular period - ANSWER✔✔-The Income Statement


A financial statement that reports a company's assets, liabilities, and equity at a specific

point in time - ANSWER✔✔-The Balance Sheet


Reports the changes in company equity, from the opening balance to the end of the

period balance. - ANSWER✔✔-The Statement of Equity


Reports the sources and uses of cash by a business - ANSWER✔✔-The Statement of

Cash Flow


Accounting Cycle - ANSWER✔✔-1. Analyze and record transactions



Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/12

, 2. Post transactions to ledger


3. Prepare an unadjusted trial balance


4. Prepare adjusted entries at the end of the period


5. Prepare adjusted trial balance


6. Prepare financial statements


If customers pays at the time of sale you must enter it as a - ANSWER✔✔-Sales Receipt


If customers does not pay at the time of sale you must enter it as a - ANSWER✔✔-

Invoice


Once and customer has paid an invoice it goes to - ANSWER✔✔-Receive payment


Receive payment and sales receipt are followed by - ANSWER✔✔-Bank deposit


Step 4 of The Accounting Cycle: Preparing adjusted entries includes - ANSWER✔✔-

Deferrals, Accruals, Missing Transactions, and Tax Adjustments


Removing transactions that belong to a different period - ANSWER✔✔-Deferral


Opposite of deferral. Concern future payments or expenses - ANSWER✔✔-Accruals


The Business is a separate entity, so the activities of a business must be kept separate

from any other financial activities of its business owners - ANSWER✔✔-Economic

Entity Assumption




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/12

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 or Stuvia-credit 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 SophiaBennett. 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.

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 study notes for 15 years now

Start selling
$12.49
  • (0)
Add to cart
Added