Intuit Bookkeeping Exam Study Guide New 2024 Version
with All Questions from Actual Past Exam and 100%
Correct Answers
In a lease agreement, the party that is paying rent is referred to as the: ---------- Correct
Answer --------- Lessee
Big Boss Building Company purchased some construction equipment to keep up with d
When using QBO software, depreciation expense must be entered as a: ----------
Correct Answer --------- Journal Entry
A kind of lease in which ownership of the asset is intended at the end of the lease is
called: ---------- Correct Answer --------- A capital lease
A capital lease will show up on the profit and loss statement ---------- Correct Answer ----
----- False
What is the book balance? --------- Correct Answer --------- includes any uncleared
checks or deposits in transit
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