PART 1 PRACTICE TEST FOR INTUIT
BOOKKEEPING PROFESSIONAL
CERTIFICATE QUESTIONSNWITH
CORRECT ANSWERS GRADED A+
FOR 2026
What etent would most likely cause an auditor to issue a negatite ongoing concern opinion for a
company? - CORRECT ANSWERS the company has a high debt to equity ratio and it facing
liquidity problems
what is the main purpose of the adjusting process in accounting - CORRECT ANSWERS to
correct error and misstatements in final statements that can result from inaccurate records or
faulty assumptions.
to record transactions that hate not been entered in the accounting records during the
accounting period
to record changes of a business that occur as a result of time or business acti tity
which statements are true about the balance sheet - CORRECT ANSWERS it displays what the
business owns and what the business owes as of a single day.
it should be monitored on a regular basis since it's integral to maintaining the health of the
business
it is used to track all assets, liabilities, and equity of a business
it is final statement that reports assets, liabilities, and equity for specific time
BOOKKEEPING PROFESSIONAL
CERTIFICATE QUESTIONSNWITH
CORRECT ANSWERS GRADED A+
FOR 2026
What etent would most likely cause an auditor to issue a negatite ongoing concern opinion for a
company? - CORRECT ANSWERS the company has a high debt to equity ratio and it facing
liquidity problems
what is the main purpose of the adjusting process in accounting - CORRECT ANSWERS to
correct error and misstatements in final statements that can result from inaccurate records or
faulty assumptions.
to record transactions that hate not been entered in the accounting records during the
accounting period
to record changes of a business that occur as a result of time or business acti tity
which statements are true about the balance sheet - CORRECT ANSWERS it displays what the
business owns and what the business owes as of a single day.
it should be monitored on a regular basis since it's integral to maintaining the health of the
business
it is used to track all assets, liabilities, and equity of a business
it is final statement that reports assets, liabilities, and equity for specific time
