Accounts and Settings is an option available by clicking on the Gear icon in the upper right side of the QBO screen.What is the difference between the Chart of Accounts and Recurring Transactions?
A)The Chart of Accounts is a list of transactions entered and Recurring Transactions is a list of transactions saved for future use.
B)The Chart of Accounts is a list of accounts the company uses and Recurring Transactions is a list of all transactions entered.
C)The Chart of Accounts is a list of accounts the company uses and Recurring Transactions are transactions saved for future reuse.
D)The Chart of Accounts contains all accounts ever used and available for future use by a company and Recurring Transactions are transactions saved for future use.

Question

Quizplus · Accepted Answer

The Chart of Accounts is a list of accounts the company uses, whereas Recurring Transactions are transactions saved for future reuse. Option A is not correct because the Chart of Accounts is not a list of transactions entered but a list of accounts. Option B is incorrect because the Chart of Accounts does not list all transactions entered, and Recurring Transactions are saved for future use, not all transactions entered. Option D is incorrect because the Chart of Accounts only contains accounts currently being used or available for future use, and Recurring Transactions are saved for future use, not all transactions ever used.

Accounts and Settings Is an Option Available by Clicking on the Gear