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