QuickBooks Online Certification
2023/2024 Exam Questions and Answers
(RATED A+)
Primary admin -ANSWER -Can manage all users
Created the QuickBooks account
Company Admin -ANSWER -this role is only available in QBO Advanced
Custom user -ANSWER -This role is only available in QBO Advanced
Has specific access to areas in QBO
Standard user -ANSWER -In all versions of QBO, this role can be set to specific levels
of access
Close the Books feature's two benefits -ANSWER -Users cannot change transactions in
a closed period
It generates a closing Date Detail report
Accrual Accounting -ANSWER -A company makes a sale and records the expected
revenue as an AR transaction
Provides a more accurate picture of the profitability of a company because it includes
AR and payables
Cash Basis Accounting -ANSWER -A company makes a sale, but revenue is not
realized until the invoice is paid
The most common method of accounting
Tasks the can be automated in QBO -ANSWER -Overdue Payment reminders
payroll
financial reporting
QBO creates a chart of accounts based on the industry you selected -ANSWER -true
You can add, edit, and remove accounts after starting a new company in QB -ANSWER
-True
New accounts can only be added during the new company startup process -ANSWER -
False
only income and expense accounts can be added after starting a new company -
ANSWER -False
2023/2024 Exam Questions and Answers
(RATED A+)
Primary admin -ANSWER -Can manage all users
Created the QuickBooks account
Company Admin -ANSWER -this role is only available in QBO Advanced
Custom user -ANSWER -This role is only available in QBO Advanced
Has specific access to areas in QBO
Standard user -ANSWER -In all versions of QBO, this role can be set to specific levels
of access
Close the Books feature's two benefits -ANSWER -Users cannot change transactions in
a closed period
It generates a closing Date Detail report
Accrual Accounting -ANSWER -A company makes a sale and records the expected
revenue as an AR transaction
Provides a more accurate picture of the profitability of a company because it includes
AR and payables
Cash Basis Accounting -ANSWER -A company makes a sale, but revenue is not
realized until the invoice is paid
The most common method of accounting
Tasks the can be automated in QBO -ANSWER -Overdue Payment reminders
payroll
financial reporting
QBO creates a chart of accounts based on the industry you selected -ANSWER -true
You can add, edit, and remove accounts after starting a new company in QB -ANSWER
-True
New accounts can only be added during the new company startup process -ANSWER -
False
only income and expense accounts can be added after starting a new company -
ANSWER -False
