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