Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with questions 31, 32, 33, 34, and finally, 35 (all questions pertain to Quickbooks Online). Also, if you need any more information, do

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Need help with questions 31, 32, 33, 34, and finally, 35 (all questions pertain to Quickbooks Online). Also, if you need any more information, do not hesitate to let me know. Thank you!!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Question 31: What is an asset? Answer: A. A Everything the business owns B. A The prot a business makes c. A Everything the business owns minus any liabilities D. A What the business will use within the next year Question 32: Why do expense forms not require a payee? Answer: A. A The customer cannot be located B. A All expense forms require a payee so QuickBooks knows who to credit c. A It allows you to create one-off transactions that don't require a record D. A It's a scheduled transaction, so the payee is already known Question 33: What is NOT an example of an other current asset? Answer: A. A Prepaid insurance B. A Mortgage c. A Security deposit D. A Prepaid rent Question 34: When would you consider a customer debt an uncollectible receivable? Answer: A. A The debt is older than one year. B. A You've been unable to contact them to collect. c. A The debt is associated with a non-inventory item. D. A You need to match income with expenses. Question 35: Match the recurring transaction type with the examples of what you'd use it for. Scheduled DROP HERE Reminder DROP HERE Unscheduled DROP HERE

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Debra Good

13th Canadian edition

134616316, 134166698, 9780134632407 , 978-0134166698

More Books

Students also viewed these Accounting questions