Which of the following statements is not true regarding QBO subaccounts?
A) QBO automatically sets up Subaccounts commonly used by companies.
B) QBO permits the use of Subaccounts which are useful in tracking additional detail.
C) Subaccounts are essentially subcategories of an account.
D) Subaccounts are added by selecting New from the Chart of Accounts window and selecting the Category Type,i.e.Expenses,then selecting Detail Type and entering in the Name.
Correct Answer:
Verified
Q2: Liabilities:
A)Are amounts a company owes to others.
B)Represent
Q3: QBO is able to display account numbers
Q4: When in the QBO Chart of Accounts
Q5: Which is not true regarding deleting accounts
Q6: An account name can be changed in
Q7: Which of the following is incorrect regarding
Q8: To enter account numbers into QBO:
A)Select Accounting
Q9: The main financial statements of a business
Q10: Profit and Loss Statement includes the following
Q11: Select the statement that is not true
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