Financial Accounting > QUESTIONS & ANSWERS > ACCOUNTING 321 QUESTIONS WITH ANSWERS.VERY HELPFUL DURING REVISION. (All)

ACCOUNTING 321 QUESTIONS WITH ANSWERS.VERY HELPFUL DURING REVISION.

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Question 5b Which 2 features of QuickBooks Online Advanced aren't available to QuickBooks Online Plus clients?(Select all that apply)   Unlimited accounts and classes   Advanced Price rules   Advanced import and batch entry   Project tracking Question 6 You are adding a new client subscription through QuickBooks Online Accountant. Which billing option would you choose if you wanted Intuit to bill your client?   Wholesale billing   Direct billing   Direct discount   Wholesale discount Question 6 Which 2 statements about Wholesale billing in QuickBooks Online are true?(Select all that apply)  The practice gets billed at wholesale prices for QuickBooks Online subscriptions   The practice gets billed directly and determines the amount to bill the client   The client gets billed directly, but the practice determines the price   The client gets billed directly when they're signed up for a wholesale discount account  The client wi  ll be required to enter their credit card information when they log in to newlt created subscription PreviousNext Question 7 You've just taken on a new client, a small business owner, who was managing their books with spreadsheets. What's the recommended first step to begin working with this client in QuickBooks Online?   Ask the client to sign up to QuickBooks Online on QuickBooks.com   Create a QuickBooks Online account for the client and manually email their Intuit ID and password to them   Select Add client in QuickBooks Online Accountant  Add the client in QuickBooks Online PreviousNext w Question 7 Below is a series of steps for accepting an invitation from the client to become their accountant user: 1. Open the email account you use for your Intuit ID 2. You will see an invite from the client company 3. Select the Accept button to accept the invitation 4. ________________________ and you'll see a Success! box 5. Select Continue What is the missing step?   Create a new username and password for the client company   Create a new Intuit ID   Enter your QuickBooks Online Accountant sign-in information   Sign in to the client's QuickBooks Online company Question 10 The Work section in QuickBooks Online Accountant is a great starting point for planning your new client engagement. What are the first step(s) in the client onboarding workflow?   Training and mentoring   Customizing the QuickBooks Online company  Recommending the best QuickBooks Online solution   Meeting with client and gathering information PreviousNext Question 11 What are the 5 main account types in the Chart of Accounts?(Select all that apply)   Assets   Liabilities   Bundle   Income   Expenses   Price rules   Equity   Payroll PreviousNext Question 12 When would you recommend merging accounts to a client?(Select all that apply)  If there are too many accounts active in the Chart of Accounts   When a client has added more than one of the exact sam

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