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