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