1. You own a retail clothing store. You order three dozen shirts from a vendor. Two shirts arrive with obvious manufacturing errors. You contact the vendor, who offers you a credit. In Quickbooks Online, what is the effect of the vendor credit?

   1. Credit the account you used to make the purchase

   2. Credit the cost of the damaged shirts to the Vendor Credits and Refunds income account

   3. Refund the cost of the damaged shirts in cash

   4. Reissue the vendor invoice for a lower amount

   5. You need to record a new transaction from a sales receipt. In which order should you perform the actions? Place numbers next to the statements for correct order of steps.

      Select the receipt to make corrections or add missing information (1,2,3) Create a new expense (1,2,3) Upload an image of the receipt to QuickBooks Online.(1,2,3) Match the receipt to the expense. (1,2,3)

      1. You need to connect financial accounts to QuickBooks Online. For each account type, highlight YES if QuickBooks Online can connect to that type of financial account or NO if it cannot.

         1. A money market account (YES,NO)

         2. A business saving account (YES,NO)

         3. A personal credit card account (YES,NO)