Quickbooks Online Exam (Updated) 2024 with 100% Correct & Verified Solutions

Quickbooks Online Exam (Updated) 2024 with
100% Correct & Verified Solutions
Quickbooks online, what is the difference between voiding and deleting a check?
D. Voiding a check keeps it in reports but reduces its value to zero
Deleting a check removes it from reports other than the Audit Log.


Which three tasks can you perform when using Bank Feeds in the Banking area? (Choose 3)
A. Issue a Stop Payment request for a check
B. Match transactions entered in Quickbooks to the bank information as they clear the bank.
D. Unreconcile a previously cleared transaction


Move each financial report from the list on the left to the correct description on the right.
1) Show assets, liabilities, and equity at one point in time.
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period.
4) Provides information about the current financial health of a business.
1) Balance sheet
2) Profit and loss statement
3) Profit and loss statement
4) Balance sheet


For each statement about managing unbilled expenses in Quickbooks Online, select True or False.
1) The unbilled costs by job report displays the unbilled expenses
2) If you clear the billable check box for a cost, it is no longer a business expense.
3) You can change the billable status of a cost by selecting or clearing the Billable check box on the
check.
1) True
2) False
3) True


For each aspect of a report, select YES is you can customize that aspect or No if you cannot.
1) The data range
2) The accounting
3) The way numbers are formatted
1) Yes
2) Yes
3) No


For each statement about Quickbooks Online Plus, select True or False
1) Quickbooks Online Plus provides inventory tracking
2) Quickbooks Online Plus allows up to 5 user license
3) Quickbooks Online Plus provides project profitability tracking.
4) Quickbooks Online Plus includes Payroll support at no additional cost.
1) True
2) True
3) True
4) False


For each statement about the Cash Flow Statement, select True or False
1) if shows a business's assets, liabilities, and equity

, 2) It summarizes the cash flowing in and out of a business
3) It is divided intro three sections: Operations, Investments, and Financing
4) It is another name for an income statement for companies that use accrual accounting
1) False
2) True
3) True
4) False


Which list can you import into Quickbooks Online Plus from the import Data screen?
C. Products and Services


What are three recurring transaction types in Quickbooks Online? (Choose 3)
B) Reminder
C) Scheduled
E) Unscheduled


For which two reasons should you connect your online bank accounts to Quickbooks Online? (Choose
2)
A. To ensure that your data remains secure
B. To help prevent data entry errors


You need to record a new transaction from a sales receipt
In which order should you perform the actions?
1) Match the the receipt
2) Select the receipt to make corrections or add missing inforamation
3) Upload an image of the receipt to Quickbooks Online
4) Create a new expense
3
1
4
2


What is a reason for setting up products or services in Quickbooks Online?
B) To automatically message customers when items are in stock.


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. What should you do?
C. In the Account and Settings area, on the Expenses tab, toggle on Make expenses and items billable.


What are the four types of products and services that can appear on QuickBooks sales form?
D. Bundle, Inventory, Non-inventory, and Service


What does the audit log display?
D. Transactions that affect your company file, including the time and associated user.


Which two statements describe the difference between recording expenses on checks and as credit
card expenses? (Choose 2)