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