entor Cash Flows QUESTION 29 In QBO, what is NOT true regarding inventory? To maintain consistency QBO uses the same inventory item when recording sales and purchases. O QBO automatically updates inventory records by reducing the quantity on hand for all sales. O QBO can track both the cost and the sale price for inventory items. QBO must track the quantity of Non-inventory items such as supplies as well as inventory items. QUESTION 30 In QBO, users can save adjusting entries as recurring transactions. Which of the following is FALSE regarding recurring transactions used When saving adjusting entries as recurring transactions users still must update the amount of the adjustment as needed. There are two ways to save adjusting entries as recurring transactions: 1. Using the Onscreen journal and 2. Using the recurring trans Saving adjusting entries as recurring transactions saves time. It is challenging to use recurring transactions for adjustments since most adjustment amounts need to change every month. QUESTION 31 Which selection below is FALSE regarding payroll? Payroll involves preparing employee paychecks. Payroll involves paying independent contractors as well as employees. Payroll involves withholding the appropriate amount in taxes. Payroll is paying the company's share of payroll taxes