22. 23. 24. 25. Entering Inventory Part items detail results in the creation of which of the following accounts: Retained Earnings b. Opening Balance Equity Supplies d. Cost of Goods Sold Sales Tax details must always be the same for all customers. True b. False All amounts and all accounts determined automatically by QuickBooks will never need to be changed. 2. True b. False An advantage of using a pre-set chart of accounts would be: 2. Less user training necessary b. No danger of assigning incorrect account types More familiar account titles used C. d. Easier to compare statements and reports