exam with answers |\ |\
1. You are entering journal entries in QuickBooks Online.
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For each statement about the required information, select
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TRUE or FALSE. - CORRECT ANSWERS ✔✔-You must select
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Save and Close to record the journal entry-True
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-QuickBooks Online automatically inserts the date and |\ |\ |\ |\ |\ |\ |\
the next available journal entry number-True
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-After you enter the account for the debit transaction,
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QBO Automatically enters the account for the credit
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transaction-False
During a business trip, you pay for the expenses using
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the company credit card. After the trip, you need to
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upload your expense receipts to QuickBooks. Which TWO
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methods can you use? - CORRECT ANSWERS ✔✔-Scan all
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the receipts to one PDF file and email the file to QBO
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-From the QBO mobile app, take a picture of each receipt
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,You own a retail clothing store. You are setting up QBO for
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your store. You are adding items that you buy or sell to
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QBO Products and Services. For each item you buy or sell,
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indicate whether it is an Inventory item or a Non-
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inventory item. - CORRECT ANSWERS ✔✔-Hangers on |\ |\ |\ |\ |\ |\ |\
which you display- Non inventory
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-Shirts you regularly stock and sell to customers-
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Inventory |\
-A shirt that you ordered for a specific customer but do
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not usually sell- Non inventory
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Which QBO transaction can be made recurring - CORRECT
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ANSWERS ✔✔Check and Journal entry
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Which two statements about the Display name as field
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are True when adding a customer in QBO? - CORRECT
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ANSWERS ✔✔-It is only required field in the Add Customer|\ |\ |\ |\ |\ |\ |\ |\ |\
window
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-It is unique name you use to track each customer's
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balance and other information |\ |\ |\
, 6. What is a reason for setting up products or services in
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QBO? - CORRECT ANSWERS ✔✔To have a standard
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terminology for customers on sales forms |\ |\ |\ |\ |\
You need to connect financial accounts to QBO. For each
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account type, select YES if QBO can connect that type of
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financial account or NO if it cannot. - CORRECT ANSWERS
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✔✔-Brokerage-Yes
-Credit Card-Yes |\
-PayPal-Yes
-Savings-Yes
Which list can you import into QBO Plus from the Import
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Data screen? - CORRECT ANSWERS ✔✔Products and
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Services
For each statement about creating invoices in QBO, select
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TRUE or FALSE - CORRECT ANSWERS ✔✔-The customer
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address is required for invoice but optional For sales
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receipts-False