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Exam (elaborations)

INTUIT BOOKKEEPING CERTIFICATION QUESTIONS WITH CORRECT ANSWERS 2025

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INTUIT BOOKKEEPING CERTIFICATION QUESTIONS WITH CORRECT ANSWERS 2025

Institution
Intuit Bookkeeping
Course
Intuit Bookkeeping








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Institution
Intuit Bookkeeping
Course
Intuit Bookkeeping

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Uploaded on
March 19, 2025
Number of pages
2
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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  • intuit bookkeeping certification questions with co

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INTUIT BOOKKEEPING CERTIFICATION
QUESTIONS WITH CORRECT ANSWERS 2025
WhatMisMtheMbookMkeepingMcycle?M-MCORRECTMANSWERM-1.MIdentifyMtransactions

2.MRecordMTransactions

3.MRunMReports

4.MAdjustingMEntries

5.MCloseMtheMbooks



EconomicMEntityMPrincipleM-MCORRECTMANSWERM-
AMbusinessMisMaMseparateMentityMfromMownersMandMotherMbusinessesMandMmustMkeepMseparateMb
ooks.



AssetsM=M-MCORRECTMANSWERM-debitsMincreaseMandMcreditMdecreases



liabilitiesM=M-MCORRECTMANSWERM-decreaseMinMdebtsMandMincreaseMinMcredits



equityM=M-MCORRECTMANSWERM-decreaseMinMdebitsMandMincreaseMinMcredits



incomeM=M-MCORRECTMANSWERM-decreaseMinMdebitsMandMincreaseMinMcredits



expensesM=M-MCORRECTMANSWERM-debitsMincreaseMandMcreditsMdecrease



expensesM+MassetsM=M-MCORRECTMANSWERM-liabilitiesM+MequityM+Mincome



stepsMforMreconcilingM-MCORRECTMANSWERM-1.MrecordMallMofMtheMtransactions

2.McollectMyourMbankMstatement

3.MidentifyMtheMtransactionsMandMmatchMyourMbooks
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