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