Certification Exam QBO - Version A

1.1.1A. QBO must be backed up by the user _______. - Answer- d. Never. QBO is backed up by Intuit. 1.1.2A. How many entities can be associated with one QuickBooks Online Plus subscription? - Answer- a. One 1.1.3A. Select all of the following statements that are true as it relates to converting a QuickBooks Desktop File to QuickBooks Online. - Answer- c. The process of converting to QuickBooks Online is initiated from within QuickBooks Desktop by selecting Export Company File to QuickBooks Online. d. You should compare financial reports between the two versions after conversion to verify accuracy. 1.1.4A. The person who creates the initial QuickBooks Online account will be assigned what type of role in QuickBooks Online - Answer- c. Primary Admin 1.2.1A. In the Company tab of Account and Settings, which of the following fields cannot be edited? - Answer- a. Company name b. EIN c. Tax form d. Company address (All) 1.2.2A. Your accountant has completed all the year-end accounting work and submitted your final financial statements to the bank and other external agencies as required. What can you do to help prevent users of QuickBooks Online from modifying transactions that have occurred in the past? - Answer- c. Open Account and Settings and enter a closing date as of the end of the completed year. 1.2.3A. Which of the following accounts would least likely appear on a cash-basis balance sheet? - Answer- c. Accounts Receivable 1.2.4A. Your company sells the same products to both wholesale and retail customers. You would like to be able to track the profitability of each type of customer. Of the options below, which option will provide you the best information for this type of tracking? - Answer- a. Track sales by class. 1.2.5A. Location tracking in QBO can be changed to which of the following titles? - Answer- a. Department b. Division c. Store d. Territory (All of the above are possible titles.)