What Is NOT True Regarding the Products and Services List

question 12

Multiple Choice

What is NOT true regarding the Products and Services List?

• A)It can be updated either Before entering transactions or While entering transactions.
• B)It collects information about the products or services purchased from vendors.
• C)It links the product item to the accounts in the Chart of Accounts,therefore,when the item is selected in the QBO form,then the linked accounts are automatically updated as well.
• D)It collects information about the products purchased from vendors and sold to customers.

---

Definitions:

Quantitative Assessments

The process of evaluating or measuring something based on numerical data or metrics.

Sales Plan

A strategic document that outlines the business targets, tactics, and activities for a specific period of time, aimed at achieving sales goals.

Low Margin Products

Products that generate a minimal profit margin, often due to low selling prices and/or high costs of goods sold.

Profit Goal

A specific financial objective setting a desired net income or margin that a company or division aims to achieve.