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