Chapter 1:__________ 1) Which of the following statements is true regarding QuickBooks Online? A) QuickBooks Online can only be accessed by using installed software on a computer desktop or laptop. B) QuickBooks Online is updated annually to ensure the content screens are familiar to users. C) QuickBooks Online only updates upon the user request. D) QuickBooks Online is cloud-based and uses a web browser to access. 2) QuickBooks Online refers to the QuickBooks system accessed through a web browser with data stored __________. A) on a compact disc (CD). B) on your account’s computer hard drive. C) on a flash drive. D) in the cloud. 3) When setting up a new company in QBO, selections are made during the set up. It is easy to change all the selections and preferences at a later time. ⊚ true ⊚ false 4) Which of the following is not a transaction category? A) Banking B) Customers and Sales C) Company Preferences D) Employees and Payroll