INTUIT BOOKKEEPING EXAM QUESTIONS WITH

INTUIT BOOKKEEPING EXAM QUESTIONS WITH

Question 1: What are the four key elements of
bookkeeping ethics?
CORRECT ANSWER: Honesty, Objectivity,
Confidentiality and Professionalism
Question 2: What does DEALER stand for?
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: The Income Statement 

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