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