3. Why can't you merge an income account with an expense account in the Chart of Accour A. Expense accounts are not included in the Chart of Accounts. B. You can only merge accounts that are of the same type. C. The income account would override the expense account. D. QuickBooks only supports the unmerging of accounts, not the merging of them.

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
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3. Why can't you merge an income account with an expense account in the Chart of Accounts?
A. Expense accounts are not included in the Chart of Accounts.
B. You can only merge accounts that are of the same type.
C. The income account would override the expense account.
D. QuickBooks only supports the unmerging of accounts, not the merging of them.
4. What is a product or service linked to?
A. A Journal Entry
B. The associated uncategorized asset account
C. At least one account in the Chart of Accounts
D. The historical transaction
Transcribed Image Text:3. Why can't you merge an income account with an expense account in the Chart of Accounts? A. Expense accounts are not included in the Chart of Accounts. B. You can only merge accounts that are of the same type. C. The income account would override the expense account. D. QuickBooks only supports the unmerging of accounts, not the merging of them. 4. What is a product or service linked to? A. A Journal Entry B. The associated uncategorized asset account C. At least one account in the Chart of Accounts D. The historical transaction
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