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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. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.
accrual method
Retained Earnings
New Company Wizard
Help Menu
2. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.
real-time
real-time
Tooltips
Company Information
3. 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.
The Purchase Rep
Maintain Company Information
Accounting Periods
15
4. After the company is created - you can change the current period at any time by selecting Tasks>System>_________________ from the menu bar.
General Ledger Defaults Account Segments
five
batch
Change Accounting Period
5. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)
two
real-time
batch
Account Segments
6. Peachtree recommends using ________ posting.
Maintain
May
real-time
five
7. This button is available on most Peachtree windows. Help topics relating to the current window appear when you click the button.
Help Button
Account Segment
Accounts Payable
fiscal year setup accounting method
8. The _________ _________ is an account in your General Ledger used by Peachtree to store rounding differences on Financial Statements.
Help Button
Retained Earnings
Rounding Account
Tooltips
9. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab
Tooltips
Accounting Periods
General Ledger Defaults Account Segments
Company Information
10. You can segment your chart of accounts ID by creating descriptions - lengths - and separators for up to _________ segments. (spell out your answer)
five
May
two
Accounts Payable
11. 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.
real-time
Help Menu
Rounding Account
15
12. Peachtree recommends using ________ posting.
Accounting Periods
real-time
Help Button
General Ledger Defaults Account Segments
13. You cannot change _________ once New Company Setup is complete.
five
Maintain Company Information
Accounting Periods
close
14. You can/cannot change Accounting Methods once New Company Setup is complete.
F1
General Ledger Defaults Account Segments
cannot
real-time
15. In the Vendor Defaults menu - Peachtree allows you to customize up to _____ additional fields for maintaining information on your vendors.(spell out your answer)
Maintain
May
New Company Wizard
five
16. The ________ _________ window is used to enter and update budget information for accounts.
The Form Delivery
cannot
Maintain Budgets
real-time
17. Typically - the _________ ___________ account is for the Rounding Account.
Maintain
fiscal year setup accounting method
Help Menu
Retained Earnings
18. Guides you through entering the company address - telephone numbers - tax ID numbers - and business type.
New Company Wizard
Leading or trailing spaces
five
close
19. ________________ field is not available in PFA. (use software abbreviation)
The Purchase Rep
Rounding Account
close
The Form Delivery
20. To access the default information window for the General Ledger - select ______ Default - Information - General Ledger
batch
Maintain
cannot
multiple budgets
21. Highest number of accounting periods Peachtree will allow.
15
13
fiscal year setup accounting method
Tooltips
22. The _________ __________ records income when cash is received and expenses when they are paid.
The Form Delivery
May
cash method
Accounts Payable
23. 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
Maintain Company Information
Maintain Budgets
two
24. 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 )
15
Account Segment
cash method
Maintain Company Information
25. 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.
Company Information
May
Change Accounting Period
Maintain Company Information
26. General Ledger defaults are/aren't available in Peachtree First Accounting.
27. Displays Help topics relating to the current window.
Help Button
accrual method
General Ledger Defaults Account Segments
F1
28. 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
The Form Delivery
Account Segment
Help Menu
29. 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.
fiscal year setup accounting method
close
accrual method
account numbering system
30. Displays Help topics relating to the current window.
account mask
Help Button
F1
May
31. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.
F1
close
Company Information
accrual method
32. PPA (and above) allows you to track _________. (use software abbreviation)
General Ledger Defaults Account Segments
Help Menu
Tooltips
multiple budgets
33. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)
two
five
New Company Wizard
The Purchase Rep
34. At the end of the second fiscal year - you ________ the first fiscal year to make the next fiscal year available.
General Ledger Defaults Account Segments
close
five
Leading or trailing spaces
35. ________ are not available in Peachtree First Accounting.
Budgets
account mask
accrual method
Maintain Budgets
36. __________ are not permitted in an account ID. However - spaces between characters are allowed.
May
Account Segments
Help Button
Leading or trailing spaces
37. Highest number of accounting periods Peachtree will allow.
13
Account Segments
May
fiscal year setup accounting method
38. ____________ __________ monitors the products received from vendors and the money paid to vendors.
Company Information
Accounts Payable
Company Information
two
39. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.
F1
Help Menu
General Ledger Defaults Account Segments
accrual method
40. Information about your vendors is entered through the _________ _________ window.
Maintain Vendors
General Ledger Defaults Account Segments
cannot
two
41. If you choose ______ posting - you must post the journals before the General Ledger will be updated.
five
Accounting Periods
Account Segments
batch
42. After one or more transactions have been posted - Peachtree records account beginning balances as __________.
cash method
Accounting Periods
five
prior-period adjustments
43. If you choose ______ posting - you must post the journals before the General Ledger will be updated.
Account Segments
New Company Wizard
batch
Account Segment
44. When you use _________ posting - transactions update the General Ledger when they are saved.
real-time
cash method
prior-period adjustments
Maintain Company Information
45. 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.
Help Button
13
New Company Wizard
15
46. These appear when you pass the cursor over buttons in the toolbars. They tell you what the button is for.
Accounting Periods
Account Segments
Tooltips
Company Information
47. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab
fiscal year setup accounting method
cannot
Accounting Periods
General Ledger Defaults Account Segments
48. When you use _________ posting - transactions update the General Ledger when they are saved.
real-time
batch
accrual method
aren't
49. You cannot change _________ once New Company Setup is complete.
Help Menu
Accounting Periods
Maintain
Rounding Account
50. These appear when you pass the cursor over buttons in the toolbars. They tell you what the button is for.
Tooltips
New Company Wizard
fiscal year setup accounting method
15