Test your basic knowledge |

Peachtree Accounting

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. Information about your vendors is entered through the _________ _________ window.






2. General Ledger defaults are/aren't available in Peachtree First Accounting.


3. 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.






4. You can/cannot change Accounting Methods once New Company Setup is complete.






5. Peachtree allows the use of both numbers and characters in an ___________.






6. This button is available on most Peachtree windows. Help topics relating to the current window appear when you click the button.






7. This button is available on most Peachtree windows. Help topics relating to the current window appear when you click the button.






8. 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.






9. After one or more transactions have been posted - Peachtree records account beginning balances as __________.






10. All companies to be consolidated must have the same _______ _______ ________ - as well as the same __________ ___________.






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.






12. The ________ _________ window is used to enter and update budget information for accounts.






13. ________________ field is not available in PFA. (use software abbreviation)






14. You can/cannot change Accounting Methods once New Company Setup is complete.






15. 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 __________ _________.






16. In the Vendor Defaults menu - Peachtree allows you to customize up to _____ additional fields for maintaining information on your vendors.(spell out your answer)






17. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)






18. ____________ __________ monitors the products received from vendors and the money paid to vendors.






19. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab






20. The _________ _________ is an account in your General Ledger used by Peachtree to store rounding differences on Financial Statements.






21. 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 )






22. Displays Help topics relating to the current window.






23. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.






24. You cannot change _________ once New Company Setup is complete.






25. ___________ Options are not available in __________. (use software abbreviation)






26. ________ are not available in Peachtree First Accounting.






27. Highest number of accounting periods Peachtree will allow.






28. Peachtree recommends using ________ posting.






29. You cannot change _________ once New Company Setup is complete.






30. For example - if transactions will be entered in Peachtree starting in June - the account beginning balances should be entered as of the end of ______.






31. 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.






32. 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.






33. To access the default information window for the General Ledger - select ______ Default - Information - General Ledger






34. In the General Ledger Defaults on the tab __________ ___________ - you can create or change segments for your chart of accounts ID.






35. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)






36. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab






37. If you choose ______ posting - you must post the journals before the General Ledger will be updated.






38. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.






39. __________ are not permitted in an account ID. However - spaces between characters are allowed.






40. If you choose ______ posting - you must post the journals before the General Ledger will be updated.






41. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.






42. Highest number of accounting periods Peachtree will allow.






43. Typically - the _________ ___________ account is for the Rounding Account.






44. 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.






45. When you use _________ posting - transactions update the General Ledger when they are saved.






46. You can segment your chart of accounts ID by creating descriptions - lengths - and separators for up to _________ segments. (spell out your answer)






47. The _________ __________ records income when cash is received and expenses when they are paid.






48. PPA (and above) allows you to track _________. (use software abbreviation)






49. Displays Help topics relating to the current window.






50. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.