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