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