Which of the Following Is Correct Regarding QBO COA (Chart

question 6

Multiple Choice

Which of the following is correct regarding QBO COA (Chart of Accounts) ?

• 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 the 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.

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Definitions:

Goblet Cell

A column-shaped cell found in the respiratory and intestinal tracts, which secretes mucus to trap and move pathogens and dirt.

Seromucous Gland

A gland that produces both serous fluid (a watery solution) and mucous (a thicker, protective secretion).