Intuit Bookkeeping Exam with correct answers

Intuit Bookkeeping Exam with correct
answers

Four Key Elements of Bookkeeping Ethics - ....🔰VERIFIED ANSWERS....
✔✔Honesty, Objectivity, Confidentiality and Professionalism


What is DEALER - ....🔰VERIFIED ANSWERS.... ✔✔Dividends + Expenses +
Assets = Liabilities + Owner's Equity (beginning) + Revenue


What's is the accounting Equation? - ....🔰VERIFIED ANSWERS.... ✔✔Assets
= Liabilities + Equity


Profit and Loss statement. Shows the company's revenues and expenses during
a particular period - ....🔰VERIFIED ANSWERS.... ✔✔The Income Statement


A financial statement that reports a company's assets, liabilities, and equity at a
specific point in time - ....🔰VERIFIED ANSWERS.... ✔✔The Balance Sheet


Reports the changes in company equity, from the opening balance to the end of
the period balance. - ....🔰VERIFIED ANSWERS.... ✔✔The Statement of
Equity


Reports the sources and uses of cash by a business - ....🔰VERIFIED
ANSWERS.... ✔✔The Statement of Cash Flow

, Accounting Cycle - ....🔰VERIFIED ANSWERS.... ✔✔1. Analyze and record
transactions
2. Post transactions to ledger
3. Prepare an unadjusted trial balance
4. Prepare adjusted entries at the end of the period
5. Prepare adjusted trial balance
6. Prepare financial statements


If customers pays at the time of sale you must enter it as a - ....🔰VERIFIED
ANSWERS.... ✔✔Sales Receipt


If customers does not pay at the time of sale you must enter it as a - ....🔰
VERIFIED ANSWERS.... ✔✔Invoice


Once and customer has paid an invoice it goes to - ....🔰VERIFIED
ANSWERS.... ✔✔Receive payment


Receive payment and sales receipt are followed by - ....🔰VERIFIED
ANSWERS.... ✔✔Bank deposit


Step 4 of The Accounting Cycle: Preparing adjusted entries includes - ....🔰
VERIFIED ANSWERS.... ✔✔Deferrals, Accruals, Missing Transactions, and
Tax Adjustments


Removing transactions that belong to a different period - ....🔰VERIFIED
ANSWERS.... ✔✔Deferral