Question

What is one way that QuickBooks uses the Account Type?

1) To track revenue and expense by office or business segment
2) For financial ratios in the Analysis module
3) To change the color of different sections on the financial statements
4) To identify where the account appears on the financial statements

Answer 1

QuickBooks uses the Account Type to track revenue and expense by office or business segment.

Step-by-step explanation:

One way that QuickBooks uses the Account Type is to track revenue and expense by office or business segment. By assigning each account to a specific account type, businesses can easily generate reports that show income and expenses for different segments of their company. This allows them to analyze the financial performance of each segment separately and make informed decisions based on the data.