In QuickBooks Online, when can the Product and Services List be updated? Multiple Choice Before entering transactions and after entering transactions Before entering transactions and while entering transactions. Only after entering transactions. None of the choices are correct occur when the company records an amount before the bank records the amount. Multiple Choice O Accounting errors O Bank errors O Reconciliation errors O Timing differences Which of the following is true regarding inactive accounts in QBO? Multiple Choice If you need to restore an inactive account, QBO will permit you to do so. To inactivate an account, select Banking on the Navigation bar QBO automatically inactivates an account if it is not used for over 1 year Inactive accounts are completely deleted from QBO and no longer appear in reports Why is it important to align QuickBooks Online with a company's legal entity and tax information? Multiple Choice The type of legal entity a business uses impacts the equity accounts needed and the tax form filed by the business Because the amount of taxes charged to customers depends on the a company's legal entity A company can use more than one legal entity at a time None of the choices are correct