Intuit Bookkeeping Professional Certificate – Real
Exam Questions and Answers
Introduction:
This document contains the complete set of real exam questions and
correct answers for the Intuit Bookkeeping Professional Certificate
assessment. It covers all essential bookkeeping principles including
double-entry accounting, financial statements, trial balance,
,adjusting entries, and the accounting cycle. The file also explains key
concepts such as accrual accounting, the matching principle, and
financial ratio analysis. This is an excellent study guide for learners
preparing for Intuit’s official bookkeeping certification or similar
accounting exams.
Exam Questions and Answers
Rudiger has just recorded and posted his business transactions to
the ledger. His next step in the accounting cycle is to _______. ---
correct precise answer ---- 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? --- correct precise
answer ---- Business bank account
The double-entry system of bookkeeping normally results in which
of the following balances in the ledger accounts? --- correct precise
answer ---- 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: --- correct precise answer ---- $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: --- correct precise answer ---- 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? ---
correct precise answer ---- The Income Statement
Which of the following financial statements provides you with the
owner's change in capital over time? --- correct precise answer ----
The Statement of Equity
Which of the following financial statements shows the balances of a
company's assets, equity, and liability? --- correct precise answer --
-- The Balance Sheet
Which of the following financial statements provides aggregate
data regarding all cash inflows a company receives from its ongoing
operations and external investments? --- correct precise answer ---
- The Statement of Cash Flow
A seasonal business like Lou's Landscaping can have decreased cash
during off-season months. Which financial statement would show
, the cash inflows and outflows for a particular month? --- correct
precise answer ---- Cash Flow Statement
Which of these accounts would have a balance of $0 at the
beginning of each new accounting period? --- correct precise
answer ---- Revenue
A business owner performs a service and is paid when the job is
performed. The owner would then enter this transaction into
accounting software as: --- correct precise answer ---- A Sales
Receipt
A business owner performs a service but is not paid when the job is
performed. Using their accounting software, the owner would enter
the transaction as: --- correct precise answer ---- An Invoice
True or False: The ending cash balance on the Statement of Cash
Flow should not equal the cash balance reported on the Balance
Sheet. --- correct precise answer ---- False
A customer paid in advance for a service. They need to cancel the
service. If the business owner wishes to apply that money towards
the customer's next service, the owner would enter that transaction
into their accounting software as: --- correct precise answer ---- A
Credit Memo
Exam Questions and Answers
Introduction:
This document contains the complete set of real exam questions and
correct answers for the Intuit Bookkeeping Professional Certificate
assessment. It covers all essential bookkeeping principles including
double-entry accounting, financial statements, trial balance,
,adjusting entries, and the accounting cycle. The file also explains key
concepts such as accrual accounting, the matching principle, and
financial ratio analysis. This is an excellent study guide for learners
preparing for Intuit’s official bookkeeping certification or similar
accounting exams.
Exam Questions and Answers
Rudiger has just recorded and posted his business transactions to
the ledger. His next step in the accounting cycle is to _______. ---
correct precise answer ---- 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? --- correct precise
answer ---- Business bank account
The double-entry system of bookkeeping normally results in which
of the following balances in the ledger accounts? --- correct precise
answer ---- 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: --- correct precise answer ---- $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: --- correct precise answer ---- 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? ---
correct precise answer ---- The Income Statement
Which of the following financial statements provides you with the
owner's change in capital over time? --- correct precise answer ----
The Statement of Equity
Which of the following financial statements shows the balances of a
company's assets, equity, and liability? --- correct precise answer --
-- The Balance Sheet
Which of the following financial statements provides aggregate
data regarding all cash inflows a company receives from its ongoing
operations and external investments? --- correct precise answer ---
- The Statement of Cash Flow
A seasonal business like Lou's Landscaping can have decreased cash
during off-season months. Which financial statement would show
, the cash inflows and outflows for a particular month? --- correct
precise answer ---- Cash Flow Statement
Which of these accounts would have a balance of $0 at the
beginning of each new accounting period? --- correct precise
answer ---- Revenue
A business owner performs a service and is paid when the job is
performed. The owner would then enter this transaction into
accounting software as: --- correct precise answer ---- A Sales
Receipt
A business owner performs a service but is not paid when the job is
performed. Using their accounting software, the owner would enter
the transaction as: --- correct precise answer ---- An Invoice
True or False: The ending cash balance on the Statement of Cash
Flow should not equal the cash balance reported on the Balance
Sheet. --- correct precise answer ---- False
A customer paid in advance for a service. They need to cancel the
service. If the business owner wishes to apply that money towards
the customer's next service, the owner would enter that transaction
into their accounting software as: --- correct precise answer ---- A
Credit Memo
