Which two statements are true regarding using bank rules in QuickBooks Online?

The statement that QuickBooks Online only applies one rule per transaction is correct. This is because when a transaction meets the criteria of multiple bank rules, QuickBooks will apply the first rule it encounters that matches the transaction. The application of this rule occurs during the categorization process, ensuring that each transaction is assigned according to the established conditions of the rule.

While it's important to note that multiple rules may exist that could apply to a transaction, the software's design is such that only the first applicable rule is activated, streamlining the process of transaction categorization. This ensures consistency and efficiency in how bank rules are enforced, minimizing potential confusions from applying several rules to a single transaction.

In contrast, determined factors like whether rules can apply to accepted transactions only or if they can be edited do not affect the confirmation that only one rule will be applied at any time. Additionally, while rules can indeed apply to multiple transactions simultaneously, this is not the focus of the statement in question. Thus, the single application of rules per transaction stands out as the correct assertion.