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Your client, 123 Co., notices that in the Chart of Accounts there is a negative balance in the QuickBooks Balance column for the Accumulated Amortization
Your client, 123 Co., notices that in the Chart of Accounts there is a negative balance in the QuickBooks Balance column for the Accumulated Amortization - Software account. They think that all the entries have been made incorrectly and that the account should have a positive balance. Which of the following statements is true and can help resolve their concerns? Select the single best answer: A. The fact that "Accumulated Amortization - Software" carries a smaller (absolute value) balance than "Software" is more worrisome. B. The fact that there is no balance in the "Bank Balance" column is more worrisome. C. Accumulated amortization accounts should carry a negative balance in QuickBooks Online. D. "Accumulated Amortization" is an account that doesn't display in the reporting features of QuickBooks Online, so they shouldn't worry. E. You should agree to reverse all the entries
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