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2025/2026 INTUIT BOOKKEEPING PROFESSSIONAL
CERTIFICATE EXAM WITH CURRENTLTY COMPLETE
TESTING QUESTIONS AND DETAILED CORRECT
ANSWERS/GUARANTEED PASS/TOP-RATED A+.
INTUIT
Ace your Intuit Bookkeeping Professional Certificate exam with
this comprehensive guide, designed to master essential
accounting principles, payroll processing, and tax preparation
using QuickBooks. This resource delivers practical, scenario-
based questions covering financial statements, reconciliation,
and client reporting.
What event would most likely cause an auditor to issue a
negative ongoing concern opinion for a company? ......
ANSWER ....... the company has a high debt to equity
ratio and it facing liquidity problems
what is the main purpose of the adjusting process in
accounting ...... ANSWER ....... to correct error and
misstatements in final statements that can result from
inaccurate records or faulty assumptions.
to record transactions that have not been entered in the
accounting records during the accounting period
, Page 2 of 24
to record changes of a business that occur as a result of
time or business activity
which statements are true about the balance sheet ......
ANSWER ....... it displays what the business owns and
what the business owes as of a single day.
it should be monitored on a regular basis since it's
integral to maintaining the health of the business
it is used to track all assets, liabilities, and equity of a
business
it is final statement that reports assets, liabilities, and
equity for specific time
asset ...... ANSWER ....... a resource with economic
value that a business owns or controls
you're a bookkeeper for a small law firm that provides legal
services to clients on a monthly retainer basis. you use
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accrual accounting to record the final transactions of the
firm in june, you billed 10 clients for a total of $20,000, but
only 8 of them paid you by june 30th the other 2 clients paid
$2,000 each on july 10. you also incurred $5,000 in expenses
for rent, utilities, and supplies in june, which you paid june
30. now would you report your revenue and expenses for
june under the matching principle? ...... ANSWER .......
revenue = $20,000
expenses = $5,000
bookkeeper notices there is increase in Accounts Payable
(liability account) from recording a utility bill. what is impact
on accounting equation? ...... ANSWER ....... decrease
owners equity
business bought a new printer with cash for $1,000 on 1/10.
useful life = 5 years. residual value $100. uses straight line
method to calculate depreciation.
-business has received $50 coupon to buy books.
-business made rounding error of $2 in recording COGS for
january. COGS before error = $10,000
-how should he apply mutuality principle in accounting
records ...... ANSWER ....... he should record the printer
2025/2026 INTUIT BOOKKEEPING PROFESSSIONAL
CERTIFICATE EXAM WITH CURRENTLTY COMPLETE
TESTING QUESTIONS AND DETAILED CORRECT
ANSWERS/GUARANTEED PASS/TOP-RATED A+.
INTUIT
Ace your Intuit Bookkeeping Professional Certificate exam with
this comprehensive guide, designed to master essential
accounting principles, payroll processing, and tax preparation
using QuickBooks. This resource delivers practical, scenario-
based questions covering financial statements, reconciliation,
and client reporting.
What event would most likely cause an auditor to issue a
negative ongoing concern opinion for a company? ......
ANSWER ....... the company has a high debt to equity
ratio and it facing liquidity problems
what is the main purpose of the adjusting process in
accounting ...... ANSWER ....... to correct error and
misstatements in final statements that can result from
inaccurate records or faulty assumptions.
to record transactions that have not been entered in the
accounting records during the accounting period
, Page 2 of 24
to record changes of a business that occur as a result of
time or business activity
which statements are true about the balance sheet ......
ANSWER ....... it displays what the business owns and
what the business owes as of a single day.
it should be monitored on a regular basis since it's
integral to maintaining the health of the business
it is used to track all assets, liabilities, and equity of a
business
it is final statement that reports assets, liabilities, and
equity for specific time
asset ...... ANSWER ....... a resource with economic
value that a business owns or controls
you're a bookkeeper for a small law firm that provides legal
services to clients on a monthly retainer basis. you use
, Page 3 of 24
accrual accounting to record the final transactions of the
firm in june, you billed 10 clients for a total of $20,000, but
only 8 of them paid you by june 30th the other 2 clients paid
$2,000 each on july 10. you also incurred $5,000 in expenses
for rent, utilities, and supplies in june, which you paid june
30. now would you report your revenue and expenses for
june under the matching principle? ...... ANSWER .......
revenue = $20,000
expenses = $5,000
bookkeeper notices there is increase in Accounts Payable
(liability account) from recording a utility bill. what is impact
on accounting equation? ...... ANSWER ....... decrease
owners equity
business bought a new printer with cash for $1,000 on 1/10.
useful life = 5 years. residual value $100. uses straight line
method to calculate depreciation.
-business has received $50 coupon to buy books.
-business made rounding error of $2 in recording COGS for
january. COGS before error = $10,000
-how should he apply mutuality principle in accounting
records ...... ANSWER ....... he should record the printer
