Final answer:
The EasyStep Interview creates default accounts and opening balances for those accounts - true.
Step-by-step explanation:
The statement is true. The EasyStep Interview is a feature in accounting software, such as QuickBooks, that helps users set up their company's financial accounts and starting balances. It asks a series of questions to gather information about the business and creates default accounts based on the user's responses. These default accounts include various types of accounts such as assets, liabilities, equity, income, and expenses.
Additionally, the EasyStep Interview also sets the opening balances for these accounts. Opening balances represent the initial amount of money or value in each account when the company starts using the accounting software. It helps establish a baseline for tracking financial transactions and generating accurate financial statements.