> > >

QuickBooks MCQs

What does QuickBooks do with net profit at the beginning of a new year?

Subtracts net profit from an Owner's or Shareholder's Equity account.

Adds net profit to an Owner's or Shareholder's Equity account.

Adds net profit to Stockholder's Equity.

Adds net profit to Retained Earnings.

Answer

Correct Answer: Adds net profit to Retained Earnings.

Explanation:

Note: This Question is unanswered, help us to find answer for this one

QuickBooks Skill Assessment

Your Skill Level: Poor

Retake Quizzes to improve it