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