SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. Displays Help topics relating to the current window.
New Company Wizard
Accounts Payable
F1
cash method
2. To access the default information window for the General Ledger - select ______ Default - Information - General Ledger
F1
Maintain
two
13
3. ___________ Options are not available in __________. (use software abbreviation)
Accounts Payable
prior-period adjustments
close
The Form Delivery
4. You cannot change _________ once New Company Setup is complete.
Accounting Periods
batch
Rounding Account
Accounts Payable
5. These appear when you pass the cursor over buttons in the toolbars. They tell you what the button is for.
13
13
real-time
Tooltips
6. You cannot change _________ once New Company Setup is complete.
Account Segment
cannot
Accounting Periods
Change Accounting Period
7. You can/cannot change Accounting Methods once New Company Setup is complete.
five
Maintain Vendors
Company Information
cannot
8. Highest number of accounting periods Peachtree will allow.
real-time
13
accrual method
Rounding Account
9. At the end of the second fiscal year - you ________ the first fiscal year to make the next fiscal year available.
Retained Earnings
accrual method
batch
close
10. The _________ _________ is an account in your General Ledger used by Peachtree to store rounding differences on Financial Statements.
multiple budgets
Rounding Account
Company Information
cannot
11. In the General Ledger Defaults on the tab __________ ___________ - you can create or change segments for your chart of accounts ID.
Company Information
Account Segments
15
Help Button
12. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.
Company Information
Accounting Periods
Account Segments
close
13. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab
General Ledger Defaults Account Segments
real-time
The Purchase Rep
Leading or trailing spaces
14. You can/cannot change Accounting Methods once New Company Setup is complete.
Maintain Company Information
Help Menu
cannot
Maintain
15. 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.
cannot
Accounts Payable
accrual method
F1
16. Peachtree recommends using ________ posting.
13
two
cash method
real-time
17. The posting method can be changed at any time by selecting ________ _________ from the Maintain menu.
Tooltips
cash method
Maintain Budgets
Company Information
18. This button is available on most Peachtree windows. Help topics relating to the current window appear when you click the button.
Beginning Balances Equity
Maintain Vendors
Rounding Account
Help Button
19. 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 __________ _________.
Tooltips
F1
account mask
accrual method
20. 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.
batch
Maintain Company Information
Beginning Balances Equity
accrual method
21. 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.
Maintain
accrual method
account mask
The Purchase Rep
22. After one or more transactions have been posted - Peachtree records account beginning balances as __________.
accrual method
an account ID
prior-period adjustments
13
23. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.
cash method
Help Menu
fiscal year setup accounting method
Maintain Company Information
24. All companies to be consolidated must have the same _______ _______ ________ - as well as the same __________ ___________.
fiscal year setup accounting method
Company Information
Tooltips
real-time
25. All companies to be consolidated must have the same _______ _______ ________ - as well as the same __________ ___________.
Help Button
May
fiscal year setup accounting method
Maintain Company Information
26. Peachtree allows the use of both numbers and characters in an ___________.
real-time
account numbering system
multiple budgets
accrual method
27. 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
Maintain Company Information
Maintain Vendors
cannot
28. Displays Help topics relating to the current window.
real-time
Maintain Budgets
F1
Budgets
29. The _________ __________ records income when cash is received and expenses when they are paid.
13
cash method
May
F1
30. Lists all Help options available in the program. The various topics are categorized in the Contents and Index options.
New Company Wizard
General Ledger Defaults Account Segments
Account Segments
Help Menu
31. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)
two
cannot
13
Maintain Budgets
32. Information about your vendors is entered through the _________ _________ window.
Budgets
F1
Maintain Vendors
aren't
33. After the company is created - you can change the current period at any time by selecting Tasks>System>_________________ from the menu bar.
Tooltips
The Form Delivery
New Company Wizard
Change Accounting Period
34. Highest number of accounting periods Peachtree will allow.
real-time
The Purchase Rep
Tooltips
13
35. You can segment your chart of accounts ID by creating descriptions - lengths - and separators for up to _________ segments. (spell out your answer)
F1
five
real-time
account numbering system
36. Asterisks (*) - question marks (?) - and plus signs (+) cannot be used in _________.
close
an account ID
General Ledger Defaults Account Segments
Budgets
37. Guides you through entering the company address - telephone numbers - tax ID numbers - and business type.
Retained Earnings
May
New Company Wizard
cash method
38. __________ are not permitted in an account ID. However - spaces between characters are allowed.
cannot
15
Leading or trailing spaces
Help Menu
39. At the end of the second fiscal year - you ________ the first fiscal year to make the next fiscal year available.
five
Help Button
batch
close
40. 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 )
Help Button
Maintain Company Information
Account Segment
two
41. General Ledger defaults are/aren't available in Peachtree First Accounting.
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
42. The _________ __________ records income when cash is received and expenses when they are paid.
Tooltips
two
cash method
real-time
43. Peachtree allows __________ fiscal years to be open at a time. (spell out the answer)
multiple budgets
two
Accounting Periods
cash method
44. PPA (and above) allows you to track _________. (use software abbreviation)
General Ledger Defaults Account Segments
New Company Wizard
Accounts Payable
multiple budgets
45. Typically - the _________ ___________ account is for the Rounding Account.
General Ledger Defaults Account Segments
May
real-time
Retained Earnings
46. These appear when you pass the cursor over buttons in the toolbars. They tell you what the button is for.
Tooltips
Company Information
Maintain Vendors
real-time
47. If you want to change the account segmentation later - you can do so in _______ ________ _______ on the _______ ________ tab
real-time
Retained Earnings
General Ledger Defaults Account Segments
cash method
48. Peachtree recommends using ________ posting.
Maintain
Accounting Periods
real-time
General Ledger Defaults Account Segments
49. 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
F1
Maintain Company Information
close
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.
Retained Earnings
15
real-time
batch