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QUICKBOOK CHEATSHEET QUESTIONS
WITH DETAILED VERIFIED ANSWERS
Quick book online plus provides inventory tracking Ans: True
Quick book online plus allows up to 5 user licenses Ans: true
Quick book online plus provides project profitability tracking Ans: true
Quickbooks online includes payroll support at no additional cost Ans:
false
You want to pass on some of your costs directly to customers in
Quickbooks 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 Ans: In the Account and Settings area, on the expense tab toggle
on make expense and items bilable
On your bank's website you transfer 5000 from your saving account to
your checking account to pay bills. you are processing bank feed
transactions. you need to record this transaction properly. Which two
actions should you perform Ans: Match the saving account transaction
to the checking account transaction
Mark the checking account transaction as a transfer
the unbilled costs by job report displays the unbilled expense Ans: True
If you clear the billable check box for a cost it is no longer a business
expense Ans: False
You can change the billable status of a cost by selecting or clearing the
billable check box on the check Ans: true
You Pay a bill by using a check. You record the transaction in QuickBooks
Online. The check is damaged before the vendor can deposit it. You write
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a new check. What should you do with the original check in QuickBooks
Online? Ans: Void the check
Which three task can you perform when using bank feeds in the banking
area Ans: Match transactions entered in quickbooks to the bank
information as they clear the bank
Unreconcile a previously cleared transaction
issue a stop payment request for a check
For which two reason should you connect your online bank accounts to
quickbook online Ans: to ensure that your data remains true
to help prevent data entry errors
what is a reason for setting up products or service in quickbooks online
Ans: to automatically message customers when items are in stock
You own a retail clothing store. You order three dozen shirts from a
vendor. Two shirts arrive with obvious manufacturing errors. You contact
the vendor, who offers you a credit. In Quickbooks Online, what is the
effect of the vendor credit? Ans: Credit the cost of the damaged shirts to
the vendor credit and refunds income account
you can create new payment terms from the new customer form Ans:
true
you must specify payment terms when setting up a new customer Ans:
false
if you do not select payment terms for a customer quickbooks online
assigns the default invoice terms Ans: true
a money market account Ans: yes
a business savings account Ans: yes
a personal credit card account Ans: yes
QUICKBOOK CHEATSHEET QUESTIONS
WITH DETAILED VERIFIED ANSWERS
Quick book online plus provides inventory tracking Ans: True
Quick book online plus allows up to 5 user licenses Ans: true
Quick book online plus provides project profitability tracking Ans: true
Quickbooks online includes payroll support at no additional cost Ans:
false
You want to pass on some of your costs directly to customers in
Quickbooks 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 Ans: In the Account and Settings area, on the expense tab toggle
on make expense and items bilable
On your bank's website you transfer 5000 from your saving account to
your checking account to pay bills. you are processing bank feed
transactions. you need to record this transaction properly. Which two
actions should you perform Ans: Match the saving account transaction
to the checking account transaction
Mark the checking account transaction as a transfer
the unbilled costs by job report displays the unbilled expense Ans: True
If you clear the billable check box for a cost it is no longer a business
expense Ans: False
You can change the billable status of a cost by selecting or clearing the
billable check box on the check Ans: true
You Pay a bill by using a check. You record the transaction in QuickBooks
Online. The check is damaged before the vendor can deposit it. You write
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a new check. What should you do with the original check in QuickBooks
Online? Ans: Void the check
Which three task can you perform when using bank feeds in the banking
area Ans: Match transactions entered in quickbooks to the bank
information as they clear the bank
Unreconcile a previously cleared transaction
issue a stop payment request for a check
For which two reason should you connect your online bank accounts to
quickbook online Ans: to ensure that your data remains true
to help prevent data entry errors
what is a reason for setting up products or service in quickbooks online
Ans: to automatically message customers when items are in stock
You own a retail clothing store. You order three dozen shirts from a
vendor. Two shirts arrive with obvious manufacturing errors. You contact
the vendor, who offers you a credit. In Quickbooks Online, what is the
effect of the vendor credit? Ans: Credit the cost of the damaged shirts to
the vendor credit and refunds income account
you can create new payment terms from the new customer form Ans:
true
you must specify payment terms when setting up a new customer Ans:
false
if you do not select payment terms for a customer quickbooks online
assigns the default invoice terms Ans: true
a money market account Ans: yes
a business savings account Ans: yes
a personal credit card account Ans: yes
