Quickbooks Online Certification (2024/ 2025) Exam Questions and Verified Answers| Grade A| 100% Correct

Quickbooks Online Certification (2024/ 2025) Exam Questions and Verified Answers| Grade A| 100% Correct Q: What report contains the sections : Assets, Liabilities, & Equity? Answer: Balance Sheet Q: When reconciling a bank account, which of the following could cause a difference or discrepancy? Answer: One of the transactions you've made does not match the banks records. Q: Which report is also known as an income statement and summaries in- come & expenses for a period of time? Answer: Profit and Loss Q: Which report** tracks changes and deletions to transactions, as well as tracks which user made those changes? Answer: The Audit Log report Q: How can yo tell QBO to email someone a copy of a report on a regular basis? Answer: Select reports, go to my customized reports, select report and click edit, then click "set the email schedule for this group". Q: If you have a customized report that you use each month, what feature let you run the report with updated data each month? Answer: **Save customizations Q: Which report shows you how much you owe for sales taxes? Answer: Sales tax liability Q: In QBO, what is the best method to enter a business lunch paid for with the company debit card? (**paid for insurance) Answer: Click global create button and select Expense, Fill out expense and use debit card as payment method. Q: TRUE OR FALSE: You can **merge (customer) or account with a balance an income account with another income account? Answer: TRUE Q: What does QBO do when you make a customer that has an open balance, inactive? (**COA inactive??) Answer: QBO creates a credit memo and applies it to any open invoices which makes the balance zero Q: How does QBO distinguish which income accounts should be affected when you use a product on a sales form? Answer: