SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Peachtree Accounting
Start Test
Study First
Subject
:
it-skills
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Displays Help topics relating to the current window.
cannot
13
The Purchase Rep
F1
2. If you choose ______ posting - you must post the journals before the General Ledger will be updated.
batch
five
May
Tooltips
3. Peachtree recommends using ________ posting.
F1
real-time
13
Accounting Periods
4. If you choose ______ posting - you must post the journals before the General Ledger will be updated.
Help Menu
batch
fiscal year setup accounting method
Beginning Balances Equity
5. The _________ __________ records income when cash is received and expenses when they are paid.
five
cash method
prior-period adjustments
Company Information
6. The total length of the account number - including separators - can be up to ___ characters - and Peachtree will display the structure of the ID on the right side of the window.
Leading or trailing spaces
15
13
Help Menu
7. You cannot change _________ once New Company Setup is complete.
Accounting Periods
General Ledger Defaults Account Segments
May
two
8. When you use _________ posting - transactions update the General Ledger when they are saved.
two
The Form Delivery
real-time
Rounding Account
9. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.
Company Information
Retained Earnings
The Form Delivery
two
10. Typically - the _________ ___________ account is for the Rounding Account.
Tooltips
cash method
Maintain
Retained Earnings
11. Peachtree allows the use of both numbers and characters in an ___________.
cash method
fiscal year setup accounting method
account numbering system
Accounting Periods
12. The _______ ________ records income (not cash) when it is earned and expenses when they are incurred - that is - when your vendors bill you not necessarily when you pay them.
Accounting Periods
batch
F1
accrual method
13. After one or more transactions have been posted - Peachtree records account beginning balances as __________.
cash method
fiscal year setup accounting method
account mask
prior-period adjustments
14. You can/cannot change Accounting Methods once New Company Setup is complete.
cannot
Maintain Vendors
fiscal year setup accounting method
The Form Delivery
15. ________________ field is not available in PFA. (use software abbreviation)
cannot
Company Information
The Purchase Rep
Help Menu
16. All companies to be consolidated must have the same _______ _______ ________ - as well as the same __________ ___________.
cannot
cash method
fiscal year setup accounting method
real-time
17. Highest number of accounting periods Peachtree will allow.
13
real-time
account numbering system
Retained Earnings
18. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)
May
two
real-time
Maintain Vendors
19. You can/cannot change Accounting Methods once New Company Setup is complete.
May
New Company Wizard
accrual method
cannot
20. This button is available on most Peachtree windows. Help topics relating to the current window appear when you click the button.
real-time
cannot
Help Button
accrual method
21. Trial Balance: Shows the result of the Assets - Expenses column minus the Liabilities - Equity - Income column. This value should be zero before you click OK. If this value is non-zero - the amount shown will post to a _________ __________ __________
F1
Beginning Balances Equity
cash method
real-time
22. Guides you through entering the company address - telephone numbers - tax ID numbers - and business type.
New Company Wizard
13
Beginning Balances Equity
General Ledger Defaults Account Segments
23. After the company is created - you can change the current period at any time by selecting Tasks>System>_________________ from the menu bar.
Retained Earnings
close
Change Accounting Period
The Form Delivery
24. The _______ ________ records income (not cash) when it is earned and expenses when they are incurred - that is - when your vendors bill you not necessarily when you pay them.
accrual method
two
close
13
25. The _________ _________ is an account in your General Ledger used by Peachtree to store rounding differences on Financial Statements.
fiscal year setup accounting method
General Ledger Defaults Account Segments
aren't
Rounding Account
26. These appear when you pass the cursor over buttons in the toolbars. They tell you what the button is for.
accrual method
an account ID
Tooltips
Maintain Vendors
27. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.
real-time
accrual method
Tooltips
Help Menu
28. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab
13
account mask
Budgets
General Ledger Defaults Account Segments
29. In the Vendor Defaults menu - Peachtree allows you to customize up to _____ additional fields for maintaining information on your vendors.(spell out your answer)
Retained Earnings
five
Accounting Periods
Maintain Company Information
30. The chart of accounts can be divided into departments. When printing certain reports - you can filter or mask the information that appears. In the window below - the "NU" in account 57000-NU is an example of an __________ _________.
account mask
Company Information
an account ID
cash method
31. ____________ __________ monitors the products received from vendors and the money paid to vendors.
Account Segment
cash method
batch
Accounts Payable
32. All companies to be consolidated must have the same _______ _______ ________ - as well as the same __________ ___________.
fiscal year setup accounting method
New Company Wizard
account mask
Tooltips
33. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.
five
Help Menu
Retained Earnings
Accounts Payable
34. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)
cannot
two
15
Company Information
35. PPA offers you the ________ feature - which allows you to segment your chart of accounts and filter reports using drop-down selection lists rather than the masking method using the asterisk. (use software abbreviation )
close
prior-period adjustments
Maintain Vendors
Account Segment
36. Highest number of accounting periods Peachtree will allow.
13
Maintain Budgets
Help Menu
General Ledger Defaults Account Segments
37. This button is available on most Peachtree windows. Help topics relating to the current window appear when you click the button.
real-time
accrual method
Help Button
Accounting Periods
38. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab
General Ledger Defaults Account Segments
Help Button
F1
13
39. Once the new company has been created - you can select this menu selection at any time to review or update the information entered on this window.
New Company Wizard
Company Information
Maintain Company Information
account mask
40. You cannot change _________ once New Company Setup is complete.
Accounting Periods
account mask
account numbering system
Maintain
41. Guides you through entering the company address - telephone numbers - tax ID numbers - and business type.
Help Button
F1
Beginning Balances Equity
New Company Wizard
42. The _________ __________ records income when cash is received and expenses when they are paid.
Tooltips
cash method
Beginning Balances Equity
15
43. For example - if transactions will be entered in Peachtree starting in June - the account beginning balances should be entered as of the end of ______.
close
Maintain Budgets
batch
May
44. Displays Help topics relating to the current window.
Help Button
General Ledger Defaults Account Segments
F1
Company Information
45. Asterisks (*) - question marks (?) - and plus signs (+) cannot be used in _________.
an account ID
Maintain Vendors
account numbering system
Tooltips
46. These appear when you pass the cursor over buttons in the toolbars. They tell you what the button is for.
13
five
Tooltips
Help Menu
47. At the end of the second fiscal year - you ________ the first fiscal year to make the next fiscal year available.
Company Information
multiple budgets
close
Leading or trailing spaces
48. ________ are not available in Peachtree First Accounting.
batch
aren't
Maintain
Budgets
49. You can segment your chart of accounts ID by creating descriptions - lengths - and separators for up to _________ segments. (spell out your answer)
five
The Purchase Rep
New Company Wizard
15
50. PPA (and above) allows you to track _________. (use software abbreviation)
cannot
two
13
multiple budgets
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests