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In QBO,what Is the Difference Between the Vendor Transaction Bill

Question 10

Multiple Choice

In QBO,what is the difference between the vendor transaction Bill and Expense?

A) Expense - records services received that will be paid for later thus creating an account payable.
Bill - record expenses paid for using cash,check or credit card at the time a product or service is received.
B) Expense - record expenses paid for in cash,check or credit card at the time the product or service is received.
Bill - tracks products ordered from vendors which will be billed when received.
C) Expense - records a vendor refund received which reduces what a company owes the vendor.
Bill - record services received that will be paid for later creating an account payable.
D) Expense - record expenses paid for using cash,check or credit card at the time a company receives the product or service.
Bill - record services received that will be paid for later creating an account payable.

Correct Answer: