TRIVIAL

QUIZ

TRIVIAL

elas Finance pillar

start

QUESTION 1/6

Question 1/6

Explanation

Outstanding Invoices = 0 and Total Revenue increased, which means the invoice was issued and paid. AR is the correct place to confirm payment activity.

Question 2/6

QUESTION 2/6

Explanation

AR shows a $3,000 payment this month and no outstanding invoices, confirming the payment was recorded correctly and nothing is pending

QUESTION 3/6

QUESTION 3/6

Explanation

New accounts are created in Chart of Accounts using the Add Account button.

QUESTION 4/6

QUESTION 4/6

Explanation

Past periods must be closed before reporting. April is still active, so it remains open.

QUESTION 5/6

QUESTION 5/6 - sports

Explanation

Depreciation is an adjusting entry that must be recorded manually through Journal Entries.

QUESTION 6/6

QUESTION 6/6

Explanation

The Balance Sheet requires a specific date and the fiscal period it belongs to

End of the quiz!

Congrats!