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