Startup Bookkeeping Basics Quiz

To ignore accruals for payables or receivables

To only record sales and payments

To record all financial transactions in a detailed way (correct)

To overwhelm the company with information

Exclusively using spreadsheets for recording transactions

Recording and retrieving financial transaction records (correct)

Only storing financial transaction records

Ignoring the needs of senior managers

Only basic understanding of financial statements

Knowledge of marketing strategies

Debits and credits, and basic understanding of financial statements (correct)

Advanced tax preparation skills

<p>Manually using spreadsheets or bookkeeping software</p> Signup and view all the answers

<p>Senior managers compared to the accountant preparing financial statements</p> Signup and view all the answers