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