QuickBooks Certification Practice Test #1 (2026 Updated) – Exam Questions,
Answers & Study Guide
How can you stop yourself and others from deleting, editing, or adding transactions in a closed
period? - correct answer ✔✔Set a closing date
You successfully reconciled the checking account last month. This month, when you begin to
reconcile the same account, you notice the beginning balance calculated by QB is different than
the bank. How can this happen? - correct answer ✔✔Someone deleted or changed a cleared
transaction.
When should you use a sales receipt in QB? - correct answer ✔✔To record a customer payment
at the time of sale.
How does entering time for a job affect job cost reports? - correct answer ✔✔None of these
answers are correct..
What account on the Chart of Accounts is affected when you sell an item? - correct answer
✔✔The account you selected when you set up the item.
You notice that multiple accounts should actually be subaccounts. How quickly can you make
these accounts subaccounts of another account? - correct answer ✔✔Click on the diamond to
the left of the account, drag it below the appropriate parent account, and release the mouse
button. Then, click the diamond again, drag to the right, and release the mouse button.
What happens if you click "Collapse" on a report? - correct answer ✔✔QB hides subaccounts
and only shows parent accounts.
What is the reason you use the items tab when Entering Bills? - correct answer ✔✔To assign a
cost to a job or purchase inventory.
, When you start a company or are hired as a bookkeeper, it is important to know which edition
you are using. What are the major QB versions? - correct answer ✔✔QB Online, QB Pro, QB
Premier, QB Enterprise Solutions
Suppose you have a subcontractor who receives a 1099 from your company. Which list would
you add them to? - correct answer ✔✔Vendor list
What are the two main financial statements you can run from the 'Company & Financial'
category of reports? - correct answer ✔✔Balance sheet, Profit & Loss
Which of the following statements is true about items?
a) All of these are correct.
b) You can use one item to represent different services or goods.
c) To create an invoice, you must use an item.
d) Items allow you to track your sales in more detail without cluttering your chart of accounts -
correct answer ✔✔a) All of these are correct.
What item type should you use for inventory that you assemble from other items and then sell?
a) Group
b) Inventory Assembly
c) Non-inventory part
d) Inventory part - correct answer ✔✔b) Inventory Assembly
What is the maximum number of names that can be included on the Names lists in QB Pro or
Premier?
a) 1,000
b) 14,500
Answers & Study Guide
How can you stop yourself and others from deleting, editing, or adding transactions in a closed
period? - correct answer ✔✔Set a closing date
You successfully reconciled the checking account last month. This month, when you begin to
reconcile the same account, you notice the beginning balance calculated by QB is different than
the bank. How can this happen? - correct answer ✔✔Someone deleted or changed a cleared
transaction.
When should you use a sales receipt in QB? - correct answer ✔✔To record a customer payment
at the time of sale.
How does entering time for a job affect job cost reports? - correct answer ✔✔None of these
answers are correct..
What account on the Chart of Accounts is affected when you sell an item? - correct answer
✔✔The account you selected when you set up the item.
You notice that multiple accounts should actually be subaccounts. How quickly can you make
these accounts subaccounts of another account? - correct answer ✔✔Click on the diamond to
the left of the account, drag it below the appropriate parent account, and release the mouse
button. Then, click the diamond again, drag to the right, and release the mouse button.
What happens if you click "Collapse" on a report? - correct answer ✔✔QB hides subaccounts
and only shows parent accounts.
What is the reason you use the items tab when Entering Bills? - correct answer ✔✔To assign a
cost to a job or purchase inventory.
, When you start a company or are hired as a bookkeeper, it is important to know which edition
you are using. What are the major QB versions? - correct answer ✔✔QB Online, QB Pro, QB
Premier, QB Enterprise Solutions
Suppose you have a subcontractor who receives a 1099 from your company. Which list would
you add them to? - correct answer ✔✔Vendor list
What are the two main financial statements you can run from the 'Company & Financial'
category of reports? - correct answer ✔✔Balance sheet, Profit & Loss
Which of the following statements is true about items?
a) All of these are correct.
b) You can use one item to represent different services or goods.
c) To create an invoice, you must use an item.
d) Items allow you to track your sales in more detail without cluttering your chart of accounts -
correct answer ✔✔a) All of these are correct.
What item type should you use for inventory that you assemble from other items and then sell?
a) Group
b) Inventory Assembly
c) Non-inventory part
d) Inventory part - correct answer ✔✔b) Inventory Assembly
What is the maximum number of names that can be included on the Names lists in QB Pro or
Premier?
a) 1,000
b) 14,500
