Question 6 of 50 Which of the following statements is true about using hourly cost rates in Projects? A They won't appear in the Payroll Expenses view in the dashboard for the Project B They appear on the Project Profitability report They are added to the Project when you enter a bill for your subcontractor They are intended for employees paid using QuickBooks Payroll Question 16 of 50 Read the scenario below and answer the following question. Kai at Kai Automotive purchases much of his stock from overseas. Some of these shipments take six months or more to get to him. Because of this long lead time, his vendors require a 75% deposit at the time of order. It's a significant dollar amount. Up until now, he's been entering a bill for all the inventory items and paying 75% of the bill. He has hired you to review and fix his books, if necessary, and advise him on correct procedures to use going forward. Upon review, what are the 2 findings as of the date of the deposit? One or more of your selected options was incorrect. Selecting even just one incorrect option will earn no credit for this question. Please try again. Inventory is overstated COGS is overstated Accounts Payable is overstated Accounts Payable clearly reflects the prepayment Question 3 of 50 Which 2 statements are true regarding Classes in QuickBooks Online? One or more of your selected options was incorrect. Selecting even just one incorrect option will earn no credit for this question. Please try again. Classes affect the source of a transaction You can assign multiple classes to a transaction Classes can be renamed "divisions," "departments," etc., to suit different companies Columns in a Balance Sheet by Class will always balance The unspecified column on a Profit and Loss by Class represents transactions that have not had a class specified Question 1 of 50 Which 2 statements regarding sources and targets are true? One of more of your selected options was incorrect. Selecting even just one incorrect option will earn no credit for this question. Please try again. try again. There is one source per transaction There is only one target per transaction Sources provide information about classes Source accounts are always Balance Sheot accounts