BOOKKEEPING EXAM PREP 2026 FULL
QUESTIONS AND ANSWERS GRADED A+
◉ QuickBooks. Answer: An accounting software package developed and
marketed by Intuit.
◉ Income. Answer: Is earned income and encompasses any income
realized from an entity's operations.
◉ Expenses. Answer: The costs of operating a business.
◉ Balance Sheet. Answer: Part of the final accounts of a business.
Contains assets and liabilities.
◉ Reports. Answer: Written records that convey the business activities
and the financial performance of a company.
◉ Reconcile. Answer: Make (one account) consistent with another
confirming balances match.
◉ Cost of Goods Sold. Answer: Refers to the direct costs of producing
the goods sold by a company.
QUESTIONS AND ANSWERS GRADED A+
◉ QuickBooks. Answer: An accounting software package developed and
marketed by Intuit.
◉ Income. Answer: Is earned income and encompasses any income
realized from an entity's operations.
◉ Expenses. Answer: The costs of operating a business.
◉ Balance Sheet. Answer: Part of the final accounts of a business.
Contains assets and liabilities.
◉ Reports. Answer: Written records that convey the business activities
and the financial performance of a company.
◉ Reconcile. Answer: Make (one account) consistent with another
confirming balances match.
◉ Cost of Goods Sold. Answer: Refers to the direct costs of producing
the goods sold by a company.
