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!
TRIVIAL
Caroline Sandler
Created on March 22, 2026
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Transcript
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!