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