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