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