Which statement about journal entries in quickbooks online is true

Asked by wiki @ in Business viewed by 1306 People

Which statement about journal entries in QuickBooks Online is true?

A. A Journal Entry cannot be used to account for depreciation of an asset.
B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online.
C. Your client can’t create an Adjusting Journal Entry.

Answered by wiki @


Answer:

C. Your client can’t create an Adjusting Journal Entry.

Explanation:

In QuickBooks Online Accountant you (the accountant) make the adjusting journal entries, not your clients. It is like saying that you operate yourself while your doctor drinks coffee besides your bed.

the other options are wrong:

A. A Journal Entry cannot be used to account for depreciation of an asset.  ⇒ FALSE, QuickBooks doesn't automatically depreciate an asset, the user must do this through journal entries.

B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online.  ⇒ FALSE, when using QuickBooks Online Accountant you can create adjusting entries just like any other regular entry.


Similar Questions

How do you make a journal entry in quickbooks online

Asked by wiki @ in Business viewed by 277 persons

Which statement about journal entries in QuickBooks Online is true? A. A Journal Entry cannot be used to account for depreciation of an asset. B. The Accountant user can’t create …

How do you reconcile a bank statement in quickbooks online

Asked by wiki @ in Mathematics viewed by 358 persons

Which 2 statements are correct regarding reconciling a bank account in QuickBooks Online? (Select all that apply) You can only undo a bank reconciliation via a link in the Accountant …

Which 2 statements about setting up quickbooks payments are true

Asked by wiki @ in Business viewed by 1208 persons

which 2 statements regarding intuit approved quickbooks online apps are true? Select all that apply 1. It is recommended that the master administrator of the quickbooks company complete the setup. …

All of the following statements are true about gerrymandering except

Asked by wiki @ in Law viewed by 160 persons

All of the following would be true about Gerrymandering EXCEPT a A Provides an incumbent advantage Builds public approval of Congress

Choose the true statement about a firearm's maximum projectile range.

Asked by wiki @ in History viewed by 159 persons

Choose the true statement about a firearm's maximum projectile range.

Which of the following statements regarding mental disorders is true

Asked by wiki @ in Health viewed by 185 persons

Which of the following statements concerning mental illness is accurate? A. Individuals with mental disorders are often violent. B. Many psychological disorders are curable. C. Individuals with a psychological disorder …

Which of the following statements is true of inductive reasoning

Asked by wiki @ in Social Studies viewed by 166 persons

Which of the following statements is true of inductive reasoning?Multiple ChoiceIt involves drawing conclusions based on facts.It involves making predictions and then evaluating the predictions by making further observations.It refers …

Which of the following statements is true of knowledge management

Asked by wiki @ in Business viewed by 147 persons

Which of the following statements is​ true? A. A knowledge management system is based on a single technology to codify a database. B. Explicit knowledge assets reflect knowledge that cannot …

Which statements about the early life of jesus are true

Asked by wiki @ in History viewed by 160 persons

Which statements about the early life of jesus are true? Choose all that are correct. A. Jesus was born in Nazareth, but he was raised in Bethlehem B. Jesus grew …

Which of the following statements regarding redox reactions is true

Asked by wiki @ in Chemistry viewed by 164 persons

Which of the following statements regarding redox reactions is true? Which of the following statements regarding redox reactions is true? Redox reactions are only seen in the electron transport chain. …

Which of the following statements is true about hospice care

Asked by wiki @ in Health viewed by 170 persons

Which of the following statements is true of hospice facilities? They are for people who suffer from terminal illness. They are for people who cannot afford private clinics. They are …

Which of the following statements is not true music appreciation

Asked by wiki @ in Arts viewed by 164 persons

Which of the following statements is not true? Comic operas in the classical period treated middle-class subjects, had folklike tunes, and sometimes even ridiculed the aristocracy. Townspeople organized public concerts …

Which of the following statements about anxiety disorders is true

Asked by wiki @ in Health viewed by 172 persons

Question 15 Which of the following statements is true about anxiety disorders? O Phobias are anxiety disorders that lead to the loss of short-term memory. O Posttraumatic stress disorders occur …

Which of the following statements about hearing protection are true

Asked by wiki @ in Computers and Technology viewed by 178 persons

Which of the following statements about hearing protection are true ? a.all statements are true b.earplugs and earmuffs are the most common types of hearing protection devices c.long exposure to …

Which of the following statements about financial accounting is true

Asked by wiki @ in Business viewed by 154 persons

Which of the following statements is true of financial accounting?a.Financial accounting is subject to externally imposed rules.b.Financial accounting is directed toward external users.c.Financial accounting is able to provide audited, objective …

Most viewed questions in Business

A borrower questions the amount of the notary signing fee

Asked by wiki @ in Business viewed by 2518 persons

Records are anything papers memos

Asked by wiki @ in Business viewed by 2456 persons

Transfer prices should be set at check all that apply

Asked by wiki @ in Business viewed by 1775 persons

Which ics functional area sets the incident objectives

Asked by wiki @ in Business viewed by 1385 persons

Which statement about journal entries in quickbooks online is true

Asked by wiki @ in Business viewed by 1306 persons

If the earnings per share of a company is 3.85

Asked by wiki @ in Business viewed by 1279 persons

Which among the following is recommended way to run retrospectives

Asked by wiki @ in Business viewed by 1236 persons

Which 2 statements about setting up quickbooks payments are true

Asked by wiki @ in Business viewed by 1208 persons

Members should use the aicpa conceptual framework for independence to

Asked by wiki @ in Business viewed by 1083 persons

Osha written plan for emergency operations the employer must identify

Asked by wiki @ in Business viewed by 1066 persons

A company is selling used office equipment for 12000

Asked by wiki @ in Business viewed by 1036 persons

Izzy's ice cream is an international business as such it

Asked by wiki @ in Business viewed by 987 persons

The change brought about by online competition are examples of

Asked by wiki @ in Business viewed by 971 persons

A company opting to boost its sales of branded footwear

Asked by wiki @ in Business viewed by 952 persons

The importance of cash flows in the absolute valuation process

Asked by wiki @ in Business viewed by 944 persons