28 of 30 Which statement about QuickBooks reports is false? The Balance Sheet report may be displayed in a standard, summary, or comparative format. The Balance Sheet report shows the assets, liabilities, and equity balances as of a certain date. The Balance Sheet report shows the same information as the Trial Balance report, A detailed report, showing all transactions affecting balance sheet accounts, can be produced. 29 of 30 Which of the following is false? As transactions are recorded in the activities windows, QuickBooks simultaneously updates the vendor's file in the Vendor Center QuickBooks automatically decreases (debits) the Accounts Payable account, therefore, you do not have to enter the account number or name for this default account The Enter Bills window is used to record purchases on account. Payment for a cash purchase cannot be entered in the Write Checks window. 30 of 30 Which of the following is a true statement? Customer files are automatically set up for you in QuickBooks You can only view reports after you update the general ledger. It is not necessary to set up a customer file for each customer who buys on account. DickBooks automatically updates any related reports with information about customer transactions