Quickbooks Online
Exam (Updated)
Questions and Complete
Solutions Graded A+
Quickbooks online, what is the difference between voiding and deleting a check? - Answer: D. Voiding a
check keeps it in reports but reduces its value to zero
Deleting a check removes it from reports other than the Audit Log.
Which three tasks can you perform when using Bank Feeds in the Banking area? (Choose 3) - Answer: A.
Issue a Stop Payment request for a check
B. Match transactions entered in Quickbooks to the bank information as they clear the bank.
D. Unreconcile a previously cleared transaction
Move each financial report from the list on the left to the correct description on the right.
1) Show assets, liabilities, and equity at one point in time.
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period.
4) Provides information about the current financial health of a business. - Answer: 1) Balance sheet
2) Profit and loss statement
3) Profit and loss statement
4) Balance sheet
For each statement about managing unbilled expenses in Quickbooks Online, select True or False.
1) The unbilled costs by job report displays the unbilled expenses
, 2) If you clear the billable check box for a cost, it is no longer a business expense.
3) You can change the billable status of a cost by selecting or clearing the Billable check box on the
check. - Answer: 1) True
2) False
3) True
For each aspect of a report, select YES is you can customize that aspect or No if you cannot.
1) The data range
2) The accounting
3) The way numbers are formatted - Answer: 1) Yes
2) Yes
3) No
For each statement about Quickbooks Online Plus, select True or False
1) Quickbooks Online Plus provides inventory tracking
2) Quickbooks Online Plus allows up to 5 user license
3) Quickbooks Online Plus provides project profitability tracking.
4) Quickbooks Online Plus includes Payroll support at no additional cost. - Answer: 1) True
2) True
3) True
4) False
For each statement about the Cash Flow Statement, select True or False
1) if shows a business's assets, liabilities, and equity
2) It summarizes the cash flowing in and out of a business
3) It is divided intro three sections: Operations, Investments, and Financing
4) It is another name for an income statement for companies that use accrual accounting - Answer: 1)
False
2) True
Exam (Updated)
Questions and Complete
Solutions Graded A+
Quickbooks online, what is the difference between voiding and deleting a check? - Answer: D. Voiding a
check keeps it in reports but reduces its value to zero
Deleting a check removes it from reports other than the Audit Log.
Which three tasks can you perform when using Bank Feeds in the Banking area? (Choose 3) - Answer: A.
Issue a Stop Payment request for a check
B. Match transactions entered in Quickbooks to the bank information as they clear the bank.
D. Unreconcile a previously cleared transaction
Move each financial report from the list on the left to the correct description on the right.
1) Show assets, liabilities, and equity at one point in time.
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period.
4) Provides information about the current financial health of a business. - Answer: 1) Balance sheet
2) Profit and loss statement
3) Profit and loss statement
4) Balance sheet
For each statement about managing unbilled expenses in Quickbooks Online, select True or False.
1) The unbilled costs by job report displays the unbilled expenses
, 2) If you clear the billable check box for a cost, it is no longer a business expense.
3) You can change the billable status of a cost by selecting or clearing the Billable check box on the
check. - Answer: 1) True
2) False
3) True
For each aspect of a report, select YES is you can customize that aspect or No if you cannot.
1) The data range
2) The accounting
3) The way numbers are formatted - Answer: 1) Yes
2) Yes
3) No
For each statement about Quickbooks Online Plus, select True or False
1) Quickbooks Online Plus provides inventory tracking
2) Quickbooks Online Plus allows up to 5 user license
3) Quickbooks Online Plus provides project profitability tracking.
4) Quickbooks Online Plus includes Payroll support at no additional cost. - Answer: 1) True
2) True
3) True
4) False
For each statement about the Cash Flow Statement, select True or False
1) if shows a business's assets, liabilities, and equity
2) It summarizes the cash flowing in and out of a business
3) It is divided intro three sections: Operations, Investments, and Financing
4) It is another name for an income statement for companies that use accrual accounting - Answer: 1)
False
2) True
