Question 1
You recorded a credit card payment by posting it to the primary subaccount. Then you
created a journal entry (dated as of the credit card statement date) to correct the
subaccount balances.
Which 2 of the following would you expect when you then reviewed the subaccount
balances?
All the subaccounts (primary and non-primary) would show their respective liability balances
as of the statement date
The non-primary subaccounts would show a zero balance
The total liability would show up in the primary subaccount
The total liability would show up in the parent subaccount
All the subaccounts (primary and non-primary) would show a zero balance
ANSWER
All the subaccounts (primary and non-primary) would show their respective liability balances
as of the statement date
The total liability would show up in the primary subaccount
Question 2
1
,When are 2 times you might use the Setup screen in the Books review feature?
ANSWER
When changing chart of account names
When making adjustments to balance sheet account balances during the clean up process
Question 3
Your client wants to know if their future revenues and expenses will support them in adding
a new product line. You are recommending that they set a budget.
For which 3 of the following accounts can they set a budget?
Petty Cash
Sales Income
Cost of Goods Sold
Travel Expense
Accumulated Depreciation
Inventory
ANSWER
Sales Income
Cost of Goods Sold
Travel Expense
2
,Question 4
Your client needs a QuickBooks Online solution that includes tracking for:
Sales
Sales tax
Inventory
ANSWER
Plus
Question 5
Can users with the right permissions in a client-paid subscription add QuickBooks Online
Payroll or QuickBooks Time to their QuickBooks Online company?
ANSWER
Yes, by going to the Billing & subscription section in Account and Settings
Question 6
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 QuickBooks Online?
ANSWER
Bundle
Question 7
Which 3 of these can a Company admin user do in QuickBooks Online?
3
, Change their user level to Primary admin
Add new Primary admin users
Change the QuickBooks Online subscription
Manage existing users
Access the client's other products, such as QuickBooks Payroll and QuickBooks Payments
ANSWER
Manage existing users
Access the client's other products, such as QuickBooks Payroll and QuickBooks Payments
Change the QuickBooks Online subscription
Question 8
Where would you go to view a list of customer statements sent out in the current month?
ANSWER
Reports center > Statement List report
Question 9
What 4 pieces of information does QuickBooks Online with Automated sales tax use to
calculate sales tax on an invoice?
The customer's payment terms
The customer's sales tax status
The quantity of the product or service still on hand
The tax category for the product or service
The location of the sale
The state where the company's registered
ANSWER
The customer's sales tax status
4
You recorded a credit card payment by posting it to the primary subaccount. Then you
created a journal entry (dated as of the credit card statement date) to correct the
subaccount balances.
Which 2 of the following would you expect when you then reviewed the subaccount
balances?
All the subaccounts (primary and non-primary) would show their respective liability balances
as of the statement date
The non-primary subaccounts would show a zero balance
The total liability would show up in the primary subaccount
The total liability would show up in the parent subaccount
All the subaccounts (primary and non-primary) would show a zero balance
ANSWER
All the subaccounts (primary and non-primary) would show their respective liability balances
as of the statement date
The total liability would show up in the primary subaccount
Question 2
1
,When are 2 times you might use the Setup screen in the Books review feature?
ANSWER
When changing chart of account names
When making adjustments to balance sheet account balances during the clean up process
Question 3
Your client wants to know if their future revenues and expenses will support them in adding
a new product line. You are recommending that they set a budget.
For which 3 of the following accounts can they set a budget?
Petty Cash
Sales Income
Cost of Goods Sold
Travel Expense
Accumulated Depreciation
Inventory
ANSWER
Sales Income
Cost of Goods Sold
Travel Expense
2
,Question 4
Your client needs a QuickBooks Online solution that includes tracking for:
Sales
Sales tax
Inventory
ANSWER
Plus
Question 5
Can users with the right permissions in a client-paid subscription add QuickBooks Online
Payroll or QuickBooks Time to their QuickBooks Online company?
ANSWER
Yes, by going to the Billing & subscription section in Account and Settings
Question 6
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 QuickBooks Online?
ANSWER
Bundle
Question 7
Which 3 of these can a Company admin user do in QuickBooks Online?
3
, Change their user level to Primary admin
Add new Primary admin users
Change the QuickBooks Online subscription
Manage existing users
Access the client's other products, such as QuickBooks Payroll and QuickBooks Payments
ANSWER
Manage existing users
Access the client's other products, such as QuickBooks Payroll and QuickBooks Payments
Change the QuickBooks Online subscription
Question 8
Where would you go to view a list of customer statements sent out in the current month?
ANSWER
Reports center > Statement List report
Question 9
What 4 pieces of information does QuickBooks Online with Automated sales tax use to
calculate sales tax on an invoice?
The customer's payment terms
The customer's sales tax status
The quantity of the product or service still on hand
The tax category for the product or service
The location of the sale
The state where the company's registered
ANSWER
The customer's sales tax status
4
