Which of the Following Is Correct Regarding QBO COA

question 9

Multiple Choice

Which of the following is correct regarding QBO COA?

• 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 of its 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:

Proliferative Phase

The buildup of the endometrium in response to increased estrogen during the menstrual cycle.

Corpus Luteum

The tissue formed from a ruptured ovarian follicle that produces important hormones after the oocyte emerges.

Glycogen

A form of glucose storage in the body, primarily found in the liver and muscles.

Smegma

A whitish substance that can accumulate under the foreskin in males and in the female genital area, consisting of dead skin cells and other secretions.