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