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