QuickBooks Online Certification Exam – Section 1 (Updated 2026
Practice Questions & Answers)
What type of business relies on knowing their inventory at all times? - correct answer ✔✔B2B
Wholesale businesses
*** 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? - correct answer
✔✔Retail and e-commerce businesses
What are the three different ways to get information into QuickBooks Online? - correct answer
✔✔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
What are the five different subscription plans available on QuickBooks Online? - correct answer
✔✔Self-Employed, Simple Start, Essentials, Plus, and Advanced
What is considered the backbone of accounting software? - correct answer ✔✔The Chart of
Accounts, including all assets, liabilities, income and expenses
In wholesale billing, who is billed monthly for the subscription of QBO? - correct answer ✔✔the
Accountant
How much does the Accountant user pay for wholesale billing? - correct answer ✔✔50%
wholesale discount
What is a perk of wholesale billing? - correct answer ✔✔The Accountant user decides how the
clients will be billed.
Practice Questions & Answers)
What type of business relies on knowing their inventory at all times? - correct answer ✔✔B2B
Wholesale businesses
*** 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? - correct answer
✔✔Retail and e-commerce businesses
What are the three different ways to get information into QuickBooks Online? - correct answer
✔✔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
What are the five different subscription plans available on QuickBooks Online? - correct answer
✔✔Self-Employed, Simple Start, Essentials, Plus, and Advanced
What is considered the backbone of accounting software? - correct answer ✔✔The Chart of
Accounts, including all assets, liabilities, income and expenses
In wholesale billing, who is billed monthly for the subscription of QBO? - correct answer ✔✔the
Accountant
How much does the Accountant user pay for wholesale billing? - correct answer ✔✔50%
wholesale discount
What is a perk of wholesale billing? - correct answer ✔✔The Accountant user decides how the
clients will be billed.
