QuickBooks Online Certification Exam- Section 1.pdf file:///C:/Users/HP/Desktop/SSSSSSS/QuickBooks%20Online%20Ce
QuickBooks Online Certification Exam- Section 1
1. What type of business relies on knowing their inventory at all times?
ANS B2B Wholesale businesses
2. *** Managing inventory and avoiding out-of-stock situations is critical to the success of
what type of business, as well as understanding cash flow and balance sheets?
ANS Retail and e-commerce businesses
3. What are the three different ways to get information into QuickBooks On- line?
ANS 1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services lists from Excel
3. Enter all data manually
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,QuickBooks Online Certification Exam- Section 1.pdf file:///C:/Users/HP/Desktop/SSSSSSS/QuickBooks%20Online%20Ce
4. What are the five different subscription plans available on QuickBooks Online?
ANS Self-Employed, Simple Start, Essentials, Plus, and Advanced
5. What is considered the backbone of accounting software?
ANS The Chart of Accounts, including all assets, liabilities, income and expenses
6. In wholesale billing, who is billed monthly for the subscription of QBO?
ANS the Accountant
7. How much does the Accountant user pay for wholesale billing?
ANS 50% whole- sale discount
8. What is a perk of wholesale billing?
ANS The Accountant user decides how the clients will be billed.
9. What are three others advantages of wholesale billing?
ANS bundling expenses, easy tracking, and switch anytime
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2 of 7 8/30/2024, 3:41
QuickBooks Online Certification Exam- Section 1
1. What type of business relies on knowing their inventory at all times?
ANS B2B Wholesale businesses
2. *** Managing inventory and avoiding out-of-stock situations is critical to the success of
what type of business, as well as understanding cash flow and balance sheets?
ANS Retail and e-commerce businesses
3. What are the three different ways to get information into QuickBooks On- line?
ANS 1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services lists from Excel
3. Enter all data manually
1/7
1 of 7 8/30/2024, 3:41
,QuickBooks Online Certification Exam- Section 1.pdf file:///C:/Users/HP/Desktop/SSSSSSS/QuickBooks%20Online%20Ce
4. What are the five different subscription plans available on QuickBooks Online?
ANS Self-Employed, Simple Start, Essentials, Plus, and Advanced
5. What is considered the backbone of accounting software?
ANS The Chart of Accounts, including all assets, liabilities, income and expenses
6. In wholesale billing, who is billed monthly for the subscription of QBO?
ANS the Accountant
7. How much does the Accountant user pay for wholesale billing?
ANS 50% whole- sale discount
8. What is a perk of wholesale billing?
ANS The Accountant user decides how the clients will be billed.
9. What are three others advantages of wholesale billing?
ANS bundling expenses, easy tracking, and switch anytime
2/7
2 of 7 8/30/2024, 3:41
