Learn C programming, Data Structures tutorials, exercises, examples, programs, Database, Software, Data Mining, MCQs
Generating and paying bills MCQs on Peach Tree
By: Prof. Dr. Fazal Rehman Shamil | Last updated: August 1, 2024
Which Peachtree feature is used to generate a new bill from a vendor? a) Bills b) Purchase Orders c) Vendor Payments d) Purchase Receipts Answer: a) Bills
How do you enter a bill for an invoice received from a vendor in Peachtree? a) Use the Bills feature under Accounts Payable b) Create a new Purchase Order c) Record a new Vendor Payment d) Enter the details in the Purchase Receipts module Answer: a) Use the Bills feature under Accounts Payable
When you need to pay a vendor bill in Peachtree, which feature should you use? a) Vendor Payments b) Bills c) Purchase Orders d) Payment Receipts Answer: a) Vendor Payments
To ensure that a bill is correctly recorded and paid, which steps should you follow? a) Record the bill and then apply a payment to it b) Create a Purchase Order and adjust the bill accordingly c) Record the payment and then create a bill d) Enter the details in the Purchase Receipts section first Answer: a) Record the bill and then apply a payment to it
What report in Peachtree provides an overview of all unpaid vendor bills? a) Accounts Payable Aging Report b) Unpaid Bills Report c) Vendor Payment Report d) Purchase Orders Report Answer: a) Accounts Payable Aging Report
Which Peachtree option should you use to pay multiple vendor bills at once? a) Batch Payments b) Pay Multiple Bills c) Vendor Payment Batch d) Pay Vendors Answer: a) Batch Payments
How can you track the status of a bill that has been partially paid? a) Check the Bill History or Account Details b) Review the Purchase Orders module c) Generate a Vendor Payments Report d) View the Accounts Payable Aging Report Answer: a) Check the Bill History or Account Details
To correct an error in a recorded bill, what should you do? a) Adjust or void the bill and re-enter it correctly b) Edit the bill directly and save the changes c) Create a new bill with the correct details and delete the old one d) Record a separate adjustment entry to correct the error Answer: a) Adjust or void the bill and re-enter it correctly
What information is typically required to record a vendor payment? a) Payment amount, date, vendor name, and applied bills b) Payment amount, vendor address, and bill reference c) Payment method, vendor contact details, and invoice number d) Payment date, bill number, and purchase order details Answer: a) Payment amount, date, vendor name, and applied bills
Which Peachtree report helps track and manage vendor payments and adjustments? a) Accounts Payable Report b) Vendor Payments Report c) Bill Summary Report d) Payment History Report Answer: b) Vendor Payments Report
