DETAILED ANSWERS|LATEST
UPDATE!!!!2025/2026|GUARANTEED PASS|GRADED
Move each answer financial report from the list on the left to the correct description on the
right.
1) Shows assets, liabilities, and equity at one point in time
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period
4) Provides information about the current financial health of a business - ANSWER 1)
Balance sheet
2) Balance sheet
3) Profit & loss
4) Profit & loss
You want to pass on some of your costs directly to customers in Quicbooks Online. You are
able to assign a customer to a cost, but you cannot mark it as billable. You need to make
costs billable in Quickbooks Online. What should you do? - ANSWER C) In the account
and settings area, on the Expenses tab, toggle on Make expenses and items billable.
You are sending an invoice to a customer. You need to set up the payment terms. What does
a payment term of "Net 15" mean? - ANSWER A) The customer must pay the invoice
in full within 15 days of the invoice date.
Which lists can you import into Quickbooks Online Plus from the import Data screen? -
ANSWER A) Products and services
1
UPDATE!!!!2025/2026|GUARANTEED PASS|GRADED
Move each answer financial report from the list on the left to the correct description on the
right.
1) Shows assets, liabilities, and equity at one point in time
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period
4) Provides information about the current financial health of a business - ANSWER 1)
Balance sheet
2) Balance sheet
3) Profit & loss
4) Profit & loss
You want to pass on some of your costs directly to customers in Quicbooks Online. You are
able to assign a customer to a cost, but you cannot mark it as billable. You need to make
costs billable in Quickbooks Online. What should you do? - ANSWER C) In the account
and settings area, on the Expenses tab, toggle on Make expenses and items billable.
You are sending an invoice to a customer. You need to set up the payment terms. What does
a payment term of "Net 15" mean? - ANSWER A) The customer must pay the invoice
in full within 15 days of the invoice date.
Which lists can you import into Quickbooks Online Plus from the import Data screen? -
ANSWER A) Products and services
1
