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