Which Is Not True Regarding Deleting Accounts in the QBO

question 13

Multiple Choice

Which is not true regarding deleting accounts in the QBO COA?

• A)Only accounts not being used can be deleted.
• B)If an account has not been used in 1 year or longer,even if it has a balance,it can be deleted.
• C)If an account has been used to record a transaction and has a balance,it can't be deleted.
• D)If an account has Sub-accounts associated with it,it can't be deleted.

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Definitions:

Lloyd's Of London

A UK-based marketplace for insurance and reinsurance where participants form syndicates to jointly insure and distribute risk.

Merchant Ships

Commercial vessels used in international trade to transport goods and sometimes passengers.

Risk Aversion

The tendency of individuals to prefer outcomes with lower uncertainty over outcomes with higher uncertainty, even if the latter may offer a higher expected return.

Equilibrium Premium

The price at which the supply and demand for insurance coverage balance, setting a market rate for premiums.