Peachtree MCQs (Chapterwise Multiple Choice Questions)

Is the following statement true or false?
Transactions can be posted to any accounting period within the fiscal year by changing the accounting period.

True

False

Answer & Explanation

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

Which of the following accounts do not have detailed ledgers maintained in the General Ledger,but only summary amounts?

Accounts Receivable

Accounts Payable

Payroll

Inventory

All the above

Answer & Explanation

Correct Answer: All the above

Note: This Question is unanswered, help us to find answer for this one

Is the following statement true or false?
Before the payroll year is closed,which payroll reports need to be printed?

Yearly Earnings Report

Payroll Tax Report

Payroll Journal

All the above

Answer & Explanation

Correct Answer: All the above

Note: This Question is unanswered, help us to find answer for this one

What does the Cash Requirement report show?

All outstanding invoices due

All outstanding invoices due and the net-to-pay amounts

All outstanding invoices due without any discounts

Total cash available for paying bills

Answer & Explanation

Correct Answer: All outstanding invoices due and the net-to-pay amounts

Note: This Question is unanswered, help us to find answer for this one

Is the following statement true or false?
Since Peachtree Fixed Assets is a separate application from Peachtree Accounting, Peachtree Fixed Assets needs to be started separately

True

False

Answer & Explanation

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

Is the following statement true or false?
Customer defaults can be overridden for any one customer or specific invoice.But,the defaults cannot be changed for all customers that use standard terms.

True

False

Answer & Explanation

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

Which of the following represents a costing method that can be selected for inventory items?

FIFO

LIFO

Average Cost

All the above

Answer & Explanation

Correct Answer: All the above

Note: This Question is unanswered, help us to find answer for this one

What would cause the depreciable basis of an asset to vary?

Changing the depreciation method used

Changing the location of the asset

Deleting a fixed asset record

Changing the description of the asset

Answer & Explanation

Correct Answer: Changing the depreciation method used

Note: This Question is unanswered, help us to find answer for this one

Is the following statement true or false?
A sales order is different than a sales invoice in that a sales order allows a partial shipment to be made on an order.

True

False

Answer & Explanation

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

What information is needed to set up a vendor record?

General vendor information only

Vendor history only

General vendor information,purchase defaults,custom fields,and vendor history

General vendor information and purchase defaults

Answer & Explanation

Correct Answer: General vendor information,purchase defaults,custom fields,and vendor history

Note: This Question is unanswered, help us to find answer for this one

Peachtree Quick Quiz

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Peachtree MCQ

Peachtree Quick Quiz

Is the following statement true or false?Transactions can be posted to any accounting period within the fiscal year by changing the accounting period.

Which of the following accounts do not have detailed ledgers maintained in the General Ledger,but only summary amounts?

Is the following statement true or false?Before the payroll year is closed,which payroll reports need to be printed?

What does the Cash Requirement report show?

Is the following statement true or false?Since Peachtree Fixed Assets is a separate application from Peachtree Accounting, Peachtree Fixed Assets needs to be started separately

Is the following statement true or false?Customer defaults can be overridden for any one customer or specific invoice.But,the defaults cannot be changed for all customers that use standard terms.

Which of the following represents a costing method that can be selected for inventory items?

What would cause the depreciable basis of an asset to vary?

Is the following statement true or false?A sales order is different than a sales invoice in that a sales order allows a partial shipment to be made on an order.

What information is needed to set up a vendor record?

Is the following statement true or false?
Transactions can be posted to any accounting period within the fiscal year by changing the accounting period.

Is the following statement true or false?
Before the payroll year is closed,which payroll reports need to be printed?

Is the following statement true or false?
Since Peachtree Fixed Assets is a separate application from Peachtree Accounting, Peachtree Fixed Assets needs to be started separately

Is the following statement true or false?
Customer defaults can be overridden for any one customer or specific invoice.But,the defaults cannot be changed for all customers that use standard terms.

Is the following statement true or false?
A sales order is different than a sales invoice in that a sales order allows a partial shipment to be made on an order.