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Computer Applications in Accounting MCQs

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Question;1. On the Navigation Bar, make the following selections to record a payment on account:A. On the Customers & Sales Navigation Center, click on the Bank Deposits icon and select New Bank Deposit.B. Maintain, Receipts, record the cash sale.C. On the Bank Navigation Center, click on the Enter Bills icon and select New Bills.D. On the Customers & Sales Navigation Center, click on the Receive Money icon and select Receive Money From Customer, Apply to Invoices tab2. Sam is using an Excel worksheet to manage his expenses. The output in cell F18 looks incorrect to Sam.To check the formula in cell F18, Sam should first select the cell and look at the _______ to see if theformula is correct.A. function tabB. name box and current cell addressC. rangeD. formula bar3. The account credited on the Receipts windowA. is Account No. 1020, Checking Account.B. is Account No. 1040, IRA Savings.C. is the GL Account selected.D. irrelevant because the Receipts window doesn't need to have an account credited.4. For the appropriate two decimal places to show on task windows, you need toA. display the beginning balances.B. select global settings for two decimal places.C. select Maintain > Company Info.D. select Company > Restore.5. Saving Peachtree data to the hard drive or external media is calledA. restoring data.B. data mining.C. exporting to Excel.D. backing up.6. The shortened company name that Peachtree assigns to new companies is made up of theA. entire company name.B. last word within the company name.C. first word only.D. first three letters of the first word, the first three letters of the second word, and first two letters of the third word.7. Which of the following is a true statement about the chart of accounts?A. The chart of accounts is a list of accounts in the general ledger.B. The chart of accounts is the accounts shown on the balance sheet.C. The chart of accounts is a list of accounts in the general journal.D. The chart of accounts is the accounts shown on the income statement.8. The amount of money the business owes to suppliers or vendors is calledA. accounts receivable.B. contracts payable.C. accounts payable.D. prepaid expense.9. Accountants recommend that you use FIFO when you desire to Accountants recommend that you use FIFO when you desire toA. get the highest net income.B. charge the most recent inventory costs against revenue.C. charge costs against revenue in the order in which costs are incurred.D. get the lowest net income.10. To change an entry on the Write Checks window or Receipts window,A. add a transaction line.B. delete the record.C. edit the record.D. make a completely new entry.11. The Write Checks window automatically debits which of the following accounts?A. Account No. 1040, IRA SavingsB. The account credited not debitedC. The Expense account selectedD. Account No. 1020 Checking Account12. On the Navigation Bar, make the following selections to enter employee maintenance information.A. Tasks, then Payroll EntryB. Employees & Payroll Navigation Center, click on the Employees icon, and select View and Edit EmployeesC. Employees & Payroll Navigation Center, click on the Pay Employees icon, and select Set Up Payroll ServiceD. Employees & Payroll Navigation Center, click on the Employees icon, and select Write Letters to Employees13. Ralph has been assigned by his boss a project to create budgeting formulas for the company's payrollexpense reports using Excel. What should Ralph consider when creating the formulas?A. Excel has third-party formulas you can purchase from Microsoft.B. Excel has limited capabilities, so it would be easier to use payroll software for this application.C. Excel performs formulas based on order of precedence.D. Excel has predefined formulas, so you don't have to create any formulas from scratch.14. When you want to create an invoice in Peachtree without inventory items, you need to use which ofthe following forms?A. Sales orderB. Purchase invoiceC. Sales invoiceD. Service invoice15. You enter all checks, cash, and credit card slips in the _______ window.A. General Journal entryB. ReceiptsC. Sales ReceiptsD. Payments16. Peachtree's _______ is the complete collection of accounts of a company, transactions associated withthese accounts, and account balances for a specified period of time.A. data file statisticB. general ledger systemC. maintenance systemD. default17. In Peachtree, there are two ways to record entries from the transaction register: from theA. System Page and Analysis Tools.B. System page, link to synchronize Peachtree.C. Banking tasks and view reports selections.D. Menu bar or the Navigation Bar.18. To complete account reconciliation, checks and deposits need to beA. set up in account reconciliation maintenance.B. selected by clicking Tasks, Change Accounting Periods.C. recorded.D. journalized and posted.19. In Excel, the order of precedence determinesA. which cells are to be printed.B. the order in which calculations are performed.C. which figures are multiplied or divided.D. the format of the cell reference.20. The Inventory Profitability Report showsA. gross profit percentage.B. net loss.C. net income.D. reorder amount

 

Paper#45127 | Written in 18-Jul-2015

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