![]() ![]() Adjusting entries are recorded when cash-basis accounting is used. In QuickBooks Desktop, the Journal report is called the book of final entry. Once an account has been used in a transaction, no changes may be made to the account name. In a sole proprietorship, an owner's name is added to the Vendor List for recording withdrawals. Reconciliation Report may be printed as a summary or detailed report. ![]() Accrual-basis accounting matches the income from the period and the expenses for the period to determine the net income or net loss for the period. ![]() Additional investments made by an owner may be cash or noncash items. Transcribed image text: 262 QUICKBOOKS DESKTOP 2018: A Complete Course 3 Ir END-OF-CHAPTER QUESTIONS W TRUE/FALSE S ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER 4.01. ![]()
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