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