What Are QBO Sub-Accounts and How Are These Accounts Added

question 12

Multiple Choice

What are QBO Sub-accounts and how are these accounts added to the Chart of Accounts (COA) ?

• A)Subcategories of an account that aid in decision making.Add Sub-accounts by selecting New from the COA window,then enter the Category Type,select Detail Type and enter a name.
• B)Subcategories of an account used to determine the appropriate tax form.Add Sub-accounts by selecting New from the COA window,then enter the Category Type,select Detail Type and enter a name.
• C)Subcategories of an account that aid in decision making.Add Sub-accounts by selecting New from the COA window,next hit the + sign in the upper right corner,then enter the Category Type,select Detail Type and enter a name.
• D)Subcategories of an account that aid in decision making.Add Sub-accounts by selecting New from the COA window,then enter the Category Type,select Detail Type and enter a name.Check Sub-account box to confirm the account is a Sub-account.

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Definitions:

Expected Winnings

The average amount one can expect to win or lose from a gamble or game, calculated by multiplying each possible outcome by its probability and summing the results.

Hyperbolic Discounting

A cognitive bias where people tend to prefer smaller, immediate rewards over larger, delayed rewards, affecting decision-making.

Exponential Discounting

A process or model that describes how future benefits or costs are valued less as they are further in the future.

Interest Rate

The fraction of the borrowed amount a borrower needs to pay as interest to the lender.