here are four types of products and services in QuickBooks. Question 1 Select one: a. Inventory, Non-Inventory, Service and Category b. Inventory, Non-Inventory, Service and Bundle c. Inventory, Non-Inventory, Service and Products d. Inventory, Service and Bundle, Assets you need to keep track of Accounts Payable, each of your suppliers must be set up on the Suppliers list. Is this statement True or False? Question 1 Select one: True False Drag and drop the correct response to complete the sentence. When you record Expenses, the statement that will be affected is the-------------------? Expenses that you will pay for at a later time, is called ______________ Question 3 Select one: a. Expenses b. Accounts Payable c. Accounts Receivable d. Debt Drag and drop the correct response to complete the sentence. After paying bills, your-------------------- will reflect the payments made and lower your Accounts Payable balance. uickBooks uses the _______ to store information about the people and companies that you do business with. Question 5 Select one: a. Contact Information List b. Customer List c. Supplier List d. Banking list A list of scheduled, unscheduled, or reminders of transactions that will be or need to be entered in QuickBooks. This statement best describes the name of which function in QuickBooks? Question 1 Select one: a. General Journal entries b. Recurring Transactions c. Account tracking d. none of these answers are correct. A list of your accounts and balances in QuickBooks is called what? Question 2 Select one: a. Customer List b. Supplier List c. Account List d. Chart of Accounts You can customize the display of the Chart of Accounts by clicking the Gear icon on the Chart of Accounts. Select the columns to display or deselect the columns to remove them from the Chart of Accounts. Is this statement True or False? Question 3 Select one: True False You have just added the account, Legal and Professional Fees. What account type is this? Question 4 Select one: a. Asset b. Liability c. Capital d. Expense Your business has taken out a short term loan for six months. You need to create an account for the loan. What type of account are you creating? Question 5 Select one: a. Loan b. Expense c. Bank d. Other Current Liability