Which of the following statements is not true regarding QBO subaccounts?

Multiple Choice

• QBO automatically sets up Subaccounts commonly used by companies.

• QBO permits the use of Subaccounts which are useful in tracking additional detail.

• Subaccounts are essentially subcategories of an account.

• Subaccounts are added by selecting New from the Chart of Accounts window and selecting the Category Type, i.e. Expenses, then selecting Detail Type and entering in the Name.