QUICKBOOKS ONLINE CERTIFICATION EXAM- SECTION 1
What type of business relies on knowing their inventory at all times? -
CORRECT ANSWER-B2B Wholesale businesses
*** Managing inventory and avoiding out-of-stock situations is critical to the
success of what type of business, as well as understanding cash flow and
balance sheets? - CORRECT ANSWER-Retail and e-commerce businesses
What are the three different ways to get information into QuickBooks Online? -
CORRECT ANSWER-1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services
lists from Excel
3. Enter all data manually
What are the five different subscription plans available on QuickBooks Online?
- CORRECT ANSWER-Self-Employed, Simple Start, Essentials, Plus, and
Advanced
What is considered the backbone of accounting software? - CORRECT ANSWER-
The Chart of Accounts, including all assets, liabilities, income and expenses
In wholesale billing, who is billed monthly for the subscription of QBO? -
CORRECT ANSWER-the Accountant
How much does the Accountant user pay for wholesale billing? - CORRECT
ANSWER-50% wholesale discount
What type of business relies on knowing their inventory at all times? -
CORRECT ANSWER-B2B Wholesale businesses
*** Managing inventory and avoiding out-of-stock situations is critical to the
success of what type of business, as well as understanding cash flow and
balance sheets? - CORRECT ANSWER-Retail and e-commerce businesses
What are the three different ways to get information into QuickBooks Online? -
CORRECT ANSWER-1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services
lists from Excel
3. Enter all data manually
What are the five different subscription plans available on QuickBooks Online?
- CORRECT ANSWER-Self-Employed, Simple Start, Essentials, Plus, and
Advanced
What is considered the backbone of accounting software? - CORRECT ANSWER-
The Chart of Accounts, including all assets, liabilities, income and expenses
In wholesale billing, who is billed monthly for the subscription of QBO? -
CORRECT ANSWER-the Accountant
How much does the Accountant user pay for wholesale billing? - CORRECT
ANSWER-50% wholesale discount
