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