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HW-804 Finance 20 MCQs
1. Menu choices that are followed by an ellipsis (...) are associated with
A. the Sales/Invoicing window.
B. shortcuts.
C. dialog boxes.
D. text fields.
2. In Peachtree, the employee deductions display as negative amounts on the Payroll Entry window because
A. the employer always pays deductions from the paycheck.
B. they're deducted from the employee's gross pay.
C. they're not used to compute the paycheck.
D. they're added to the paycheck amount.
3. To set up specific guidelines for individual employees, make the following selections.
A. Employees & Payroll Navigation Center > Employees > View and Edit Employees
B. Tasks > Select for Payment > select employee
C. Maintain > Default Information > Employees
D. Employee tasks > Employees > Employee Maintenance > make appropriate selection
4. If an inventory item is damaged, which of the following selections would you make from Peachtree's Navigation Bar to record the damage?
A. Inventory & Services Navigation Center > Track Packages
B. Inventory & Services Navigation Center > Inventory Count
C. Inventory & Services Navigation Center > Prices
D. Inventory & Services Navigation Center > Inventory Adjustments
5. In Peachtree, the Vendor Ledgers Report is another name for the
A. Accounts Receivable subsidiary ledger.
B. Accounts Payable open items report.
C. Accounts Payable subsidiary ledger.
D. Inventory subsidiary ledger.
6. When you purchase inventory stock items, the journal entry is
A. Dr. the Accounts Receivable/Customer account; Cr. the Sales account.
B. Dr. the Accounts Payable/Vendor account; Cr. the Inventory account.
C. Dr. the Cash account; Cr. the Revenue account.
D. Dr. the Inventory account; Cr. the Accounts Payable/Vendor account.
7. To display the size of your backup file, you can use the Windows program called
A. Defrag.
B. Windows Accessories.
C. Windows Explorer.
D. Scan disk.
8. On the Employee Defaults window, the Company Fields tab is for
A. liability accounts that are related to employee deductions.
B. assets accounts that are related to employee deductions.
C. expense and liability accounts that are related to employee deductions.
D. liability and expense accounts related to employer deductions.
9. In Peachtree, the price of each inventory item is stored in the
A. Maintain Purchase Items file.
B. Tasks; Purchase orders.
C. Maintain Inventory Items file.
D. Tasks; Inventory items.
10. To transfer money to the Money Market Fund, make the following type of entry.
A. Receipts
B. General Journal
C. Tasks
D. Payments
11. The Income Statement's net income or (net loss) is also shown on the
A. departmental gross profit totals.
B. income statement's revenue section.
C. balance sheet's capital section.
D. cash balance at the end of the period.
12. Peachtree's accounts receivable system includes the
A. sales/invoicing window.
B. accounts payable subsidiary system.
C. customer ledgers.
D. controlling account in the general ledger.
13. Commands that Peachtree automatically selects are called
A. shortcuts.
B. dialog boxes.
C. objects.
D. defaults.
14. One way to display the balance sheet is to use which of the following menu bar selections?
A. Reports & Forms > Financial Statements > Standard Balance Sheet > OK
B. Reports & Forms > Financial Statements > Standard Financial Statements > Display
C. Reports & Forms > Financial Statements > Inventory > Options
D. Reports & Forms > Financial Statements > Print
15. Expenses and revenues over a period of time are shown on the
A. balance sheet.
B. departmental gross profit report.
C. statement of cash flow.
D. income statement.
16. On the Navigation Bar, make the following selections to enter a sales invoice.
A. Customers & Sales Navigation Center > Sales Invoices > New Sales Invoice
B. Customers & Sales Navigation Center > Sales Invoices > Set Up Invoice Defaults
C. Customers & Sales Navigation Center > Customers > View and Edit Customers
D. Tasks > Purchases/Receive Inventory
17. The income statement is a summary of
A. cash receipts and where they came from.
B. cash payments and what they were used for.
C. revenues and expenses over a period of time.
D. the overall change in cash.
18. Which of the following would you select to look at an employee's record in Peachtree?
A. The Payroll Entry window
B. Tasks > Employees
C. Shortcut > General Journal entry
D. Employees & Payroll Navigation Center > Employees > View and Edit Employees
19. The following accounts are debited and credited when you purchase inventory on account.
A. Dr. Inventory account, credit Account Receivable/Vendor
B. Dr. Accounts Receivable/Customer; Cr. Sales account
C. Dr. Inventory account; Cr. Accounts Payable/Vendor
D. Dr. Accounts Payable/Vendor; Cr. Expense account
20. The file extension for Peachtree backup files is
A. .ptb
B. .pdf
C. .pbcx
D. .pbb
Answer will be sent by email as attachment.
A. the Sales/Invoicing window.
B. shortcuts.
C. dialog boxes.
D. text fields.
2. In Peachtree, the employee deductions display as negative amounts on the Payroll Entry window because
A. the employer always pays deductions from the paycheck.
B. they're deducted from the employee's gross pay.
C. they're not used to compute the paycheck.
D. they're added to the paycheck amount.
3. To set up specific guidelines for individual employees, make the following selections.
A. Employees & Payroll Navigation Center > Employees > View and Edit Employees
B. Tasks > Select for Payment > select employee
C. Maintain > Default Information > Employees
D. Employee tasks > Employees > Employee Maintenance > make appropriate selection
4. If an inventory item is damaged, which of the following selections would you make from Peachtree's Navigation Bar to record the damage?
A. Inventory & Services Navigation Center > Track Packages
B. Inventory & Services Navigation Center > Inventory Count
C. Inventory & Services Navigation Center > Prices
D. Inventory & Services Navigation Center > Inventory Adjustments
5. In Peachtree, the Vendor Ledgers Report is another name for the
A. Accounts Receivable subsidiary ledger.
B. Accounts Payable open items report.
C. Accounts Payable subsidiary ledger.
D. Inventory subsidiary ledger.
6. When you purchase inventory stock items, the journal entry is
A. Dr. the Accounts Receivable/Customer account; Cr. the Sales account.
B. Dr. the Accounts Payable/Vendor account; Cr. the Inventory account.
C. Dr. the Cash account; Cr. the Revenue account.
D. Dr. the Inventory account; Cr. the Accounts Payable/Vendor account.
7. To display the size of your backup file, you can use the Windows program called
A. Defrag.
B. Windows Accessories.
C. Windows Explorer.
D. Scan disk.
8. On the Employee Defaults window, the Company Fields tab is for
A. liability accounts that are related to employee deductions.
B. assets accounts that are related to employee deductions.
C. expense and liability accounts that are related to employee deductions.
D. liability and expense accounts related to employer deductions.
9. In Peachtree, the price of each inventory item is stored in the
A. Maintain Purchase Items file.
B. Tasks; Purchase orders.
C. Maintain Inventory Items file.
D. Tasks; Inventory items.
10. To transfer money to the Money Market Fund, make the following type of entry.
A. Receipts
B. General Journal
C. Tasks
D. Payments
11. The Income Statement's net income or (net loss) is also shown on the
A. departmental gross profit totals.
B. income statement's revenue section.
C. balance sheet's capital section.
D. cash balance at the end of the period.
12. Peachtree's accounts receivable system includes the
A. sales/invoicing window.
B. accounts payable subsidiary system.
C. customer ledgers.
D. controlling account in the general ledger.
13. Commands that Peachtree automatically selects are called
A. shortcuts.
B. dialog boxes.
C. objects.
D. defaults.
14. One way to display the balance sheet is to use which of the following menu bar selections?
A. Reports & Forms > Financial Statements > Standard Balance Sheet > OK
B. Reports & Forms > Financial Statements > Standard Financial Statements > Display
C. Reports & Forms > Financial Statements > Inventory > Options
D. Reports & Forms > Financial Statements > Print
15. Expenses and revenues over a period of time are shown on the
A. balance sheet.
B. departmental gross profit report.
C. statement of cash flow.
D. income statement.
16. On the Navigation Bar, make the following selections to enter a sales invoice.
A. Customers & Sales Navigation Center > Sales Invoices > New Sales Invoice
B. Customers & Sales Navigation Center > Sales Invoices > Set Up Invoice Defaults
C. Customers & Sales Navigation Center > Customers > View and Edit Customers
D. Tasks > Purchases/Receive Inventory
17. The income statement is a summary of
A. cash receipts and where they came from.
B. cash payments and what they were used for.
C. revenues and expenses over a period of time.
D. the overall change in cash.
18. Which of the following would you select to look at an employee's record in Peachtree?
A. The Payroll Entry window
B. Tasks > Employees
C. Shortcut > General Journal entry
D. Employees & Payroll Navigation Center > Employees > View and Edit Employees
19. The following accounts are debited and credited when you purchase inventory on account.
A. Dr. Inventory account, credit Account Receivable/Vendor
B. Dr. Accounts Receivable/Customer; Cr. Sales account
C. Dr. Inventory account; Cr. Accounts Payable/Vendor
D. Dr. Accounts Payable/Vendor; Cr. Expense account
20. The file extension for Peachtree backup files is
A. .ptb
B. .pdf
C. .pbcx
D. .pbb
Answer will be sent by email as attachment.
