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Part 1 Knowledge Checks Exams Updates 2026

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Part 1 Knowledge Checks Exams Updates 2026

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PART 1 KNOWLEDGE CHECKS EXAMS UPDATES 2026

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PART 1 KNOWLEDGE CHECKS/ACTIVITIES/QUIZES
FOR INTUIT BOOKKEEPING PROFESSIONAL
CERTIFICATE QUESTIONS AND VERIFIED ANSWERS
2026

AAbusinessAreceivesAcashAfromAaAcustomerAforAaAsale.AWouldAyouAmakeAaAdebitAorAcreditAentryAtoA
theAcashAaccountAtoAreflectAtheAincreaseAinAcash?A-ACORRECTAANSWER-Debit

AAbusinessApaysAcashAtoAsettleAaAvendor'sAinvoice.AWouldAyouAmakeAaAdebitAorAcreditAentryAtoAtheA
cashAaccountAtoAreflectAtheAdecreaseAinAcash?A-ACORRECTAANSWER-Credit

AAbusinessApurchasesAinventoryAonAcreditAfromAaAsupplier.AWouldAyouAmakeAaAdebitAorAcreditAentr
yAtoAtheAinventoryAaccountAtoAreflectAtheAincreaseAinAinventory?A-ACORRECTAANSWER-Debit

AAbusinessAsellsAaApieceAofAequipmentAandAreceivesAcashAasApayment.AWouldAyouAmakeAaAdebitAo
rAcreditAentryAtoAtheAequipmentAaccountAtoAreflectAtheAdecreaseAinAequipment?A-
ACORRECTAANSWER-Credit

JalenAandASloanAareAstartingAaAnewAbusinessAtogether.ATheyAwantAtoAselectAtheAbestAtypeAofAbusin
essAentityAtoAsuitAtheirAneeds.ALet'sAanalyzeAtheirArequirementsAandAdetermineAwhichAbusinessAen
tityAisAtheAbestAoption.A

Question:AIfAJalenAandASloanAwantAtoAhaveAlimitedApersonalAliabilityAforAtheAbusiness,AwhichAisAthe
AbestAchoice?A-ACORRECTAANSWER-LimitedAliabilityAcompanyA(LLC)

JalenAandASloanAareAstartingAaAnewAbusinessAtogether.ATheyAwantAtoAselectAtheAbestAtypeAofAbusin
essAentityAtoAsuitAtheirAneeds.ALet'sAanalyzeAtheirArequirementsAandAdetermineAwhichAbusinessAen
tityAisAtheAbestAoption.

Question:AIfAtheyAwantAtheAflexibilityAtoAhaveAadditionalAownersAjoinAtheAbusinessAinAtheAfuture,A
whichAisAtheAbestAchoice?A-ACORRECTAANSWER-Partnership

AAbusinessAhasAoutstandingAcreditAcardAbalancesAforAbusinessAexpensesAincurredAduringAtheAmon
th.AWhichAtypeAofAliabilityAdoesAthisArepresent?A-ACORRECTAANSWER-Current

AAbusinessAborrowsAmoneyAfromAaAfinancialAinstitutionAandAsignsAaAloanAagreementAwithAaArepay
mentAperiodAofA5Ayears.AWhichAtypeAofAliabilityAdoesAthisArepresent?A-ACORRECTAANSWER-Long-
term

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Uploaded on: January 16, 2026
Number of pages: 4
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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