Multiple Choice
Which of the following is correct regarding QBO COA?
A) By customizing the QBO COA to align with the business tax return,countless hours are saved in preparation time,and tax returns are more accurate.
B) QBO does not encourage editing of its COA since too many errors can be made by changing what was initially set up when the company was organized.
C) QBO does allow editing of the accounts in the COA,however,it only allows authorized users to make changes.QBO codes accounts for tax return preparation tracking.
D) QBO is not able to assist in tax return preparation and only requests legal entity status for COA account purposes.Changes to the COA are encouraged and should happen often.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: When in the QBO Chart of Accounts
Q5: Which of the following statements is not
Q6: Liabilities:<br>A)Are amounts a company owes to others.<br>B)Represent
Q7: Select the statement that is not true
Q8: An account name can be changed in
Q10: To enter account numbers into QBO:<br>A)Select Accounting
Q11: All of the following are true regarding
Q12: What are QBO Sub-accounts and how are
Q13: Which is not true regarding deleting accounts
Q14: What is the primary objective of accounting