Which Is Not True Regarding Entering Transactions into QBO

question 15

Multiple Choice

Which is not true regarding entering transactions into QBO?

• A)There are two methods for entering transactions: Onscreen Journal and Onscreen Forms.
• B)Onscreen Journal is more accurate and preferred since QBO will show the user the Journal Entry immediately after entry.
• C)Onscreen Journal is often used to make adjusting entries at year end.
• D)When entering information into Onscreen Form,QBO automatically converts the information into a journal entry.

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Definitions:

Creditor

An individual or institution to whom money is owed.

Special Warranty Deed

A Special Warranty Deed is a type of deed in which the seller guarantees they have not impaired the title but only during their ownership.

General Warranty Deed

A type of deed in real estate that provides the highest level of protection for the buyer, where the seller guarantees they hold clear title to the property and have the right to sell it.

Buyer

An individual or entity that purchases goods or services from a seller in exchange for monetary payment or other consideration.