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Question 31 of 50 What is a Refund Receipt? OA) A form used to record money that is returned to a customer. B) A form used to record a credit or reduction in the amount the customer is charged. OC) A form used to record a pending credit to a customer. OD) A form used to record a pending charge to a customer. Clear selection Question 32 of 50 What are the four type of adjusting entries when using the accrual basis of accounting? A) Depreciation, Prepaid, Unearned, and Accrual B) Reminder, Accrual, Depreciation, and Prepaid OC) Scheduled, Unscheduled, Accruals, and Depreciation OD) Prepaid, Unearned, Accrued Expenses, and Accrued Revenues Clear selection Question 33 of 50 If the accounting system balances, the O A) Total assets equal the total accounts payable. OB) Total accounts receivable equal the total accounts payable. c) Total debits equal the total credits. OD) Total liabilities equal the total accounts receivable. Clear selection Question 34 of 50 Financial statements are distributed to OA) Board of Directors OB) External and internal users c) Owners OD) All of the choices are correct. Clear selection Question 35 of 50 In a cash basis accounting system, an expense is recorded when A) The Profit and Loss Statement is created. OB) The company pays for the good or service. C) At the end of the accounting period. D) The cost is incurred or expires. Clear selection Question 36 of 50 In QuickBooks Online, when can the Vendor List be updated? OA) Only after entering transactions. B) Before entering transactions and after entering transactions. C) Before entering transactions and while entering transactions. D) None of the choices are correct. Clear selection

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