QuickBooks Online Certification Exam- Section 1 Questions and Answers 100% Pass

QuickBooks Online Certification Exam- Section 1 Questions and Answers 100% Pass What type of business relies on knowing their inventory at all times? - 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? - Answer- Retail and e-commerce businesses What are the three different ways to get information into QuickBooks Online? - 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? - Answer- Self-Employed, Simple Start, Essentials, Plus, and Advanced What is considered the backbone of accounting software? - Answer- The Chart of Accounts, including all assets, liabilities, income and expenses In wholesale billing, who is billed monthly for the subscription of QBO? - Answer- the Accountant How much does the Accountant user pay for wholesale billing? - Answer- 50% wholesale discount What is a perk of wholesale billing? - Answer- The Accountant user decides how the clients will be billed