When Creating a New QuickBooks Data File for an Existing

question 2

Multiple Choice

When creating a new QuickBooks data file for an existing company,QuickBooks automatically offsets accounts payable balances with an entry to the:

• A)Uncategorized Expenses account
• B)Uncategorized Income account
• C)Opening Balance Equity account
• D)Capital Stock account

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Definitions:

Middle Passage

The hellish and often deadly middle leg of the transatlantic “Triangular Trade” inwhich European ships carried manufactured goods to Africa, then transported enslaved Africans tothe Americas and the Caribbean, and finally conveyed American agricultural products back toEurope; from the late sixteenth to the early nineteenth century, some 12 million Africans weretransported via the Middle Passage, unknown millions more dying en route.

Semi-Independent

Describes entities or regions that operate with some degree of autonomy but are not fully independent, often relying on a larger governing body for certain decisions or support.

African Cultural Elements

Aspects of culture that originate from or are significantly influenced by African societies, including traditions, languages, crafts, music, and belief systems, among others.