QBO Cert. Review - Objective Domain 5 Basic Reports & Views

For each statement identify which statement it describes:

Shows the money moving in and out of your business.

• Profit & Loss

• Balance Sheet

• Statement of Cash Flows

For each statement identify which statement it describes:

Has three sections: assets, liabilities, and equity.

• Profit & Loss

• Balance Sheet

• Statement of Cash Flows

For each statement identify which statement it describes:

Shows performance over a period of time.

• Profit & Loss

• Balance Sheet

• Statement of Cash Flows

For each statement identify which statement it describes:

Has three sections: income, costs of goods sold, and expenses.

• Profit & Loss

• Balance Sheet

• Statement of Cash Flows

For each statement identify which statement it describes:

Has three sections: operations, investments, and financing

• Profit & Loss

• Balance Sheet

• Statement of Cash Flows

For each statement identify which statement it describes:

Shows financial position as a specific point in time.

• Profit & Loss

• Balance Sheet

• Statement of Cash Flows

How would you modify the report in order to show a separate column for each month?

• Change the report period to "Each Month This Year"

• Select "by month" from the Compare another period menu.

• Change the display columns by field to "Months"

• Select Customize, and change the columns option to "monthly"

To share a report, which methods can you use? (Choose all that apply)

• Save as a PDF

• Export to Excel

• Export to Google Sheets

• Email

If you want to review the income and expenses for a period of time, which report would you use in QuickBooks Online?

• Transaction List by Date report

• Statement of Cash Flows

• Balance Sheet

• Profit & Loss

Which feature can you use to see segments of your business as columns on the Profit & Loss report?

• Segments

• Classes

• Accounts

• Products and Services