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