Intuit Bookkeeping Professional Certificate ACTUAL EXAM LATEST UPDATE THIS YEAR QUESTIONS AN DETAILED ANSWERS

Intuit Bookkeeping Professional Certificate


Exam Coverage


Exam coverage for the Intuit Bookkeeping Professional Certificate
includes foundational bookkeeping and accounting concepts used in
small business and financial record management through Intuit training
programs. It focuses on accounting principles, debits and credits, the
accounting cycle, journal entries, ledgers, bank reconciliations, and
preparation of financial statements such as balance sheets and income
statements. The exam also evaluates understanding of payroll basics,
accounts payable and receivable, bookkeeping ethics, and use of
accounting software tools.Emphasis is placed on accurate financial
recordkeeping, organizing business transactions, interpreting financial

,data, maintaining compliance with accounting standards, and applying
bookkeeping skills in real-world business environments. 📊📘


What is the accounting formula?


Assets = Liabilities + Equity + Revenue - Expenses


What does DEA/LER stand for?


- Debit
Expenses and Assets
- Credit
Liabilities
Equity
Revenue

,What are the 6 steps of the Accounting-Cycle?


- Collect and Analyze Transactions
- Record/Post transactions to the ledger
- Prepare and unadjusted trial balance
- Prepare adjusting entries at the end of the period
- Prepare an adjusted trial balance
- Prepare financial statements

, What are the 4 Types of financial statements?


- The income statement
- The balance sheet
- The statement of equity
- The statement of cash flow


What are the 5 Account Types?


- Assets
- Liabilities
- Equity
- Revenue
- Expenses