When Tracking Time for Subcontractors,which QuickBooks Window Is Used to Enter

question 10

Multiple Choice

When tracking time for subcontractors,which QuickBooks window is used to enter subcontractor information?

• A)Vendors List
• B)Item List
• C)Payroll Setup
• D)Employee List

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Definitions:

Discontinued Component

A segment or unit of a business that has been sold off, ceased operations, or is classified as held for sale, and is reported separately in the financial statements.

Gross Profit

The difference between revenue and the cost of goods sold (COGS), indicating how much a company earns from its core business activities.

Multiple-Step Income Statement

A comprehensive income statement that separates operating revenues and expenses from non-operating ones, providing a detailed view of a company's financial activities.

Single-Step Income Statement

An income statement format that deducts total expenses from total revenues with one calculation, to find the net income.