Section 6 Quickbooks Online Advisor Certification

1)What are the names of the three tabs listed across the top of the Reports Center?

A)Favorites, Custom reports, Management reports

B)Standard, Custom reports, Management reports

C)Business overview, Favorites, Custom reports

D)Standard, Business overview, Custom reports

2)Your client wants to understand the difference between cash-basis and accrual-basis reporting.

Which is the best definition of cash-basis reporting?

A)Cash-basis reports display income as of the date the customer payment is received/recorded and expenses as of the date a vendor bill is paid

B)Cash-basis reports display income and expenses as of the date recorded

C)Cash-basis reports display income as of the invoice date, and expenses as of the bill date

D)Cash-basis reports display income and expenses as of the invoice date

E)Cash-basis reports display income and expenses as of the bill date

3)What report in QuickBooks Online will show whether a client was profitable for a specific period?

A)Balance Sheet

B)A/R Aging report

C)Profit & Loss

D)Trial Balance

4)Which QuickBooks Online report answers the common business question "How much did I earn from my services and spend on expenses"?

A)Balance Sheet

B)Sales by Customer Summary

C)Statement of Cash Flows

D)Profit & Loss

5)Which report should you run to list all customers who currently owe balances and how old the balances are?

A)A/P Aging Summary

B)A/R Aging Summary

C)A Balance Sheet report

D)A Trial Balance

6)Kathryn is concerned about her cash flow and wants to know how much she has spent with each of her vendors last month.

Which report in QuickBooks Online would provide that information?

A)A/P Aging report

B)Expenses by Vendor Summary

C)Profit & Loss Report

D)Balance Sheet