Intuit Bookkeeping Exam Update Questions and CORRECT ANSWERs Rated A+

Intuit Bookkeeping Exam Update Questions and CORRECT ANSWERs Rated A+
Question 1: What are the four key elements of bookkeeping
ethics?
CORRECT ANSWER: Honesty, Objectivity, Confidentiality
and Professionalism
Question 2: What is DEALER?
CORRECT ANSWER: Dividends + Expenses + Assets =
Liabilities + Owner's Equity (beginning) + Revenue
Question 3: What is the accounting equation?
CORRECT ANSWER: Assets = Liabilities + Equity
Question 4: What is a profit and loss statement?
CORRECT ANSWER: Shows the company's revenues and
expenses during a particular period - The Income Statement

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