Reference no: EM132741883

Problem 1: A bundle is a way of grouping products and services that you often sell together. Bundles save time when you create sales transactions. Instead of entering each product or service as a separate line item, you just enter the bundle itself.

• True
• False

Problem 2: There are several different types of reports available for you in QuickBooks Online. The basic reports types are the following:

a. Transaction Reports, List Reports, Accountant Reports, Financial Reports

b. Financial Reports, General Reports, List Reports, Accountant Reports

c. Transaction Reports, List Reports, Summary Reports, Detail Reports

d. Accountant Reports, List Reports, Tax Reports, Detail Reports

Problem 3: The profit and loss report provides you with your business' performance in any specific period of time. This report is also known as an income statement. It summarizes your income and expenses for the month or year (or any period), so you can tell whether you're operating at a profit or a loss.

• True
• False