INTUIT ACADEMY BOOKKEEPING CERTIFICATION EXAM ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

INTUIT ACADEMY BOOKKEEPING CERTIFICATION EXAM ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

Question 1: What are the 5 Account Types?
CORRECT ANSWER: - Assets - Liabilities - Equity -
Revenue - Expenses
Question 2: What is the accounting formula?
CORRECT ANSWER: Assets = Liabilities + Equity +
Revenue - Expenses
Question 3: What does DEA/LER stand for?
CORRECT ANSWER: - Debit Expenses and Assets - Credit
Liabilities Equity Revenue
Question 4: What are the 6 steps of the Accounting-Cycle?
CORRECT ANSWER: - Collect and Analyze Transactions -
Record/Post transactions to the ledger - Prepare and
unadjusted trial balance - Prepare adjusting entries at the end
of the period - Prepare an adjusted trial balance - Prepare
financial statements
Question 5: What are the 4 Types of financial statements?
CORRECT ANSWER: - The income statement - The
balance sheet - The statement of equity - The statement of
cash flow
Question 6: What are the 4 types of accounting adjustments?
CORRECT ANSWER: - Deferrals - Accruals - Missing
Transactions - Tax Adjustments
Question 7: What tasks would a bookkeeper do?
CORRECT ANSWER: - Handle bank feeds and reconciles
bank accounts, managing accounts receivable/payable, and
record financial transactions

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