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