INTUIT BOOKKEEPING CORE REVIEW 2026
QUESTIONS AND ANSWERS SURE A+
✔✔A form or statement that lists the titles and balances of all ledger accounts at a given
date is known as: - ✔✔- Trial balance
✔✔Sydney is entering a transaction in QuickBooks. What are the two steps of manual
accounting that will happen simultaneously as she does this? - ✔✔- Creating a journal
entry and posting to the ledger
✔✔The digits of the account numbers assigned to general ledger accounts often have
significance. For example, an account number beginning with a "1" might signify that the
account is an asset account, a "6" might signify an operating expense, etc. - ✔✔- True
✔✔A trial balance where total debits equal total credits indicates: - ✔✔- The ledger is in
balance.
✔✔Zach needs to determine what his company's financial position was on March 31st
of last year. Which of the following would be the best report to look at? - ✔✔- Balance
sheet
, ✔✔Which of the following financial statements reports the sources and uses of cash by
a business? - ✔✔- Statement of Cash Flow
✔✔Which of the following lists general ledger account balances at the end of a reporting
period, before any adjusting entries are made? - ✔✔- Unadjusted Trial Balance
✔✔A trial balance that is prepared after taking into account all the adjusting entries is
known as: - ✔✔- Adjusted Trial Balance
✔✔The preparation of financial statements and closing the books is the ______ step of
the accounting cycle. - ✔✔- last
✔✔Rudiger has just recorded and posted his business transactions to the ledger. His
next step in the accounting cycle is to _______. - ✔✔- prepare an unadjusted trial
balance
✔✔Francis enters a $100 check received from a customer into QuickBooks online. If
she views the Transaction Journal, which account would show as being debited $100? -
✔✔- Business bank account
✔✔The double-entry system of bookkeeping normally results in which of the following
balances in the ledger accounts? - ✔✔- Debit: Assets and expenses
- Credit: Liabilities, equity, and revenue
✔✔In the first month of operations, Pepper Consulting's total debit entries to the cash
account amounted to $900, and the total credit entries to the cash account amounted to
$600. The cash account has a: - ✔✔- $300 debit balance
✔✔Pepper Consulting bought computers with credit from PYO Suppliers and entered
the purchase into QuickBooks. The transaction journal for Pepper Consulting would
show the following entry: - ✔✔- Debit: Computers
- Credit: PYO Credit Payable
✔✔Which of the following financial statements provides a summary of a company's
revenue and expenses over a period of time? - ✔✔- The Income Statement
✔✔Which of the following financial statements provides you with the owner's change in
capital over time? - ✔✔- The Statement of Equity
✔✔Which of the following financial statements shows the balances of a company's
assets, equity, and liability? - ✔✔- The Balance Sheet
QUESTIONS AND ANSWERS SURE A+
✔✔A form or statement that lists the titles and balances of all ledger accounts at a given
date is known as: - ✔✔- Trial balance
✔✔Sydney is entering a transaction in QuickBooks. What are the two steps of manual
accounting that will happen simultaneously as she does this? - ✔✔- Creating a journal
entry and posting to the ledger
✔✔The digits of the account numbers assigned to general ledger accounts often have
significance. For example, an account number beginning with a "1" might signify that the
account is an asset account, a "6" might signify an operating expense, etc. - ✔✔- True
✔✔A trial balance where total debits equal total credits indicates: - ✔✔- The ledger is in
balance.
✔✔Zach needs to determine what his company's financial position was on March 31st
of last year. Which of the following would be the best report to look at? - ✔✔- Balance
sheet
, ✔✔Which of the following financial statements reports the sources and uses of cash by
a business? - ✔✔- Statement of Cash Flow
✔✔Which of the following lists general ledger account balances at the end of a reporting
period, before any adjusting entries are made? - ✔✔- Unadjusted Trial Balance
✔✔A trial balance that is prepared after taking into account all the adjusting entries is
known as: - ✔✔- Adjusted Trial Balance
✔✔The preparation of financial statements and closing the books is the ______ step of
the accounting cycle. - ✔✔- last
✔✔Rudiger has just recorded and posted his business transactions to the ledger. His
next step in the accounting cycle is to _______. - ✔✔- prepare an unadjusted trial
balance
✔✔Francis enters a $100 check received from a customer into QuickBooks online. If
she views the Transaction Journal, which account would show as being debited $100? -
✔✔- Business bank account
✔✔The double-entry system of bookkeeping normally results in which of the following
balances in the ledger accounts? - ✔✔- Debit: Assets and expenses
- Credit: Liabilities, equity, and revenue
✔✔In the first month of operations, Pepper Consulting's total debit entries to the cash
account amounted to $900, and the total credit entries to the cash account amounted to
$600. The cash account has a: - ✔✔- $300 debit balance
✔✔Pepper Consulting bought computers with credit from PYO Suppliers and entered
the purchase into QuickBooks. The transaction journal for Pepper Consulting would
show the following entry: - ✔✔- Debit: Computers
- Credit: PYO Credit Payable
✔✔Which of the following financial statements provides a summary of a company's
revenue and expenses over a period of time? - ✔✔- The Income Statement
✔✔Which of the following financial statements provides you with the owner's change in
capital over time? - ✔✔- The Statement of Equity
✔✔Which of the following financial statements shows the balances of a company's
assets, equity, and liability? - ✔✔- The Balance Sheet
