11: Akiko's accountant advised her to use the accrual basis of accounting. Considering this, how should she enter data into QuickBooks? Answer: A. She should be sure to enter all customers and vendors in the appropriate lists first since she'll be using Accounts Receivable and Accounts Payable. B. She doesn't have to enter data differently for accrual basis versus cash basis. C. She should never use the Write Checks window because she'll be using Accounts Payable. D. She should make sure to enter all invoices before she enters any bills each day. Question 13: What report can indicate the viability of a company in the short term? Answer: A. Balance Sheet B. Statement of Cash Flows C. Profit & Loss report D. Balance Sheet by Class Question 18: Evelina has a variety of inventory items that have become obsolete. How does she account for this inventory adjustment? Answer: A. Adjust the quantity of inventory items so the value shows correctly on the balance sheet. B. Create an invoice for the items to mark them out of inventory. C. Change the inventory valuation method to FIFO and then mark the obsolete items out of inventory. D. Adjust the average cost per inventory item by adjusting the total value of the inventory