Which of these statements is not true about QuickBooks? QuickBooks can display and print a variety of internal management reports as well as typical accounting and financial reports, many of which should be printed morthly. The Accounts Payable and vendor-related reports help a company manage its liability payments, ensure timely and correct remittances, control cash flow, and retain an accurate record of all vendor-related transactions. As activities are entered in the windows, behind-the-scenes accounting activity is recorded in general journal format and posted to the general ledger, and it flows into the financial statements Reports, the third level of operation in QuickBooks, reflect only the information and activities recorded in the Vendor Center through the Activities windows. 2 of 30 A company must prepare financial statements at least once a year before adjusting journal entries are made. quarterly monthly 3 of 30 The Open Invoices report does not show a customer's cash sales list any credit memos applied. list each open invoice (with date and invoice number) for a customer list all unpaid invoices for each customer at a specific date