Computerized Accounting With
PEACHTREE COMPLETE ACCOUNTING 2012
CHAPTER 6 QUIZ
TRUE/FALSE – MULTIPLE CHOICE QUESTIONS:
1.
Invoice terms of 2% 10 days, net 30 days mean which of the following?
a. 2% discount if the invoice is paid within 30 days
b. 2% discount if the invoice is paid within 10 days; otherwise the 2% discount
is due in 30 days
c. 2% discount if the invoice is paid within 10 days; otherwise the net amount of
the invoice is due in 30 days
d. 2% discount if the invoice is paid within 10 days; otherwise the net amount
less 2% is due in 30 days
2.
In Peachtree, a purchase on account can be recorded before the corresponding
vendor account has been established.
a. True
b. False
3.
To prepare an invoice, which option do you choose from the Tasks menu?
a. Receipts
b. Sales/Invoicing
c. Purchase Orders
d. None of the above
4.
When performing a reconciliation of the Cash account and bank statement, which
of the following is added to the Ending Bank Statement balance to determine the
Adjusted Bank Statement Balance?
a. Deposits in Transit
b. Outstanding Checks
c. Bank Collections
d. NSF Checks
e. Bank Fees
5.
When a customer sends a check for the payment of an invoice, which of the
following from the Tasks menu do you choose to record this transaction?
a. Receipts
b. Payments
c. Sales/Invoicing
d. Purchase Orders
© Paradigm Publishing, Inc.
Page 1
6.
In the Account Reconciliation window, which field do you place a check mark in
to indicate checks that have been paid by the bank?
a. Clear
b. Paid
c. Done
d. None of the above
MATCHING QUESTIONS:
A.
B.
C.
D.
E.
F.
Write Checks
Cash
Cash Receipts Journal
contra income account
NSF
sales discount
1. Petty Cash, Money Market Savings, and Payroll Checking Accounts are this type
of account
2. Represents an incentive amount deducted from the total if an invoice is paid
within a certain time period
3. A check returned by the bank because the customer did not have enough money in
his or her checking account to cover the check
4. The function used to enter a payment of a bill not previously recorded
5. Sales Discount is this type of account
6. A report used to verify the general ledger postings for the receipt of cash for a
given period of time
© Paradigm Publishing, Inc.
Page 2