QuickBooks Final Exam Questions and Verified Solutions 2024

QuickBooks Final Exam Questions and Verified Solutions 2024 Adelaide wants all transaction details in her company file, so she'll be entering her historical transactions. Which transactions should she enter first? Purchase Orders What can you NOT change after initially setting up a new company? Industry type Which of these allows you to track income and expenses for a specific aspect of your company? Classes If you want to use QuickBooks for multiple companies: set up a company file for each tax return you will file As Kili is setting up his company file, he doesn't see an industry type that perfectly fits his business. He knows QuickBooks creates accounts based on the industry selected, and he's worried he won't have the accounts he needs no matter what industry he chooses. What would you tell Kili? Add your own accounts to the Chart of Accounts after setup is complete. Match each QuickBooks term to its description. Give more information when creating a company file F. Start Date Advanced Setup Should not be too far in the past A. Start Date Lists all asset, liability, equity, income, and expense accounts D. Chart of Accounts Controlled by individual users E. Personal Preference Can decrease the number of accounts on a P&L report