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