Inventory Management MCQs on Peach Tree

By: Prof. Dr. Fazal Rehman | Last updated: August 1, 2024

1. Which Peachtree feature is used to track and manage inventory items?
   a) Inventory & Services
   b) Inventory Management
   c) Items & Services
   d) Product Tracking
   Answer: a) Inventory & Services
2. How can you add a new inventory item in Peachtree?
   a) Go to the Inventory & Services menu and select New Item
   b) Use the Add Item option under the Setup menu
   c) Access the Inventory List and click on Add New
   d) Create a new item through the Sales Orders module
   Answer: a) Go to the Inventory & Services menu and select New Item
3. What information is typically required when setting up a new inventory item?
   a) Item name, description, unit of measure, and cost
   b) Item name, sales price, stock quantity, and location
   c) Item code, supplier details, and reorder level
   d) Item name, quantity on hand, and sales tax rate
   Answer: a) Item name, description, unit of measure, and cost
4. How do you adjust inventory levels in Peachtree?
   a) Use the Inventory Adjustment feature
   b) Modify the quantity directly in the Inventory List
   c) Create a new purchase order to adjust quantities
   d) Update the stock level through the Sales Orders module
   Answer: a) Use the Inventory Adjustment feature
5. Which report would you use to view current inventory levels and valuation in Peachtree?
   a) Inventory Valuation Report
   b) Stock Summary Report
   c) Inventory Status Report
   d) Item Listing Report
   Answer: a) Inventory Valuation Report
6. How can you set up inventory items to automatically reorder when stock levels are low?
   a) Set reorder points in the Inventory Item setup
   b) Use the Auto-Reorder feature under Inventory Management
   c) Create a Purchase Order template with reorder settings
   d) Adjust reorder levels in the Inventory Adjustment module
   Answer: a) Set reorder points in the Inventory Item setup
7. Which Peachtree feature allows you to track inventory costs and sales prices?
   a) Inventory Item Setup
   b) Cost Management
   c) Item Pricing
   d) Inventory Valuation
   Answer: a) Inventory Item Setup
8. To perform an inventory count and reconcile discrepancies, which feature should you use?
   a) Physical Inventory Count
   b) Inventory Reconciliation
   c) Stock Adjustment
   d) Count & Adjust
   Answer: a) Physical Inventory Count
9. How can you view inventory transactions and movements for a specific item in Peachtree?
   a) Use the Item History feature
   b) Access the Inventory Transactions report
   c) Check the Inventory Movement Log
   d) Review the Item Details in the Inventory List
   Answer: a) Use the Item History feature
10. What action should you take if you need to update the cost of an inventory item after a purchase?
    a) Adjust the inventory cost through the Inventory Item setup
    b) Modify the cost directly in the Inventory Adjustment module
    c) Create a new purchase order with updated cost
    d) Use the Cost Change feature under Inventory Management
    Answer: a) Adjust the inventory cost through the Inventory Item setup

More MCQs on Peachtree

• Main navigation areas (e.g., Customers & Sales, Inventory & Services)
• Using menus and icons
• Accessing and customizing reports
• Customer and Sales Management MCQs
  • Creating and managing customer records
  • Processing sales invoices
  • Handling sales returns and adjustments
• Inventory Management MCQs
  • Setting up and maintaining inventory items
  • Recording inventory purchases and adjustments
  • Tracking inventory levels and costs
• Vendor and Purchasing MCQs
  • Creating and managing vendor records
  • Recording purchase orders and bills
  • Handling vendor payments and adjustments
• Accounts Payable and Receivable MCQs
  • Managing accounts payable (AP) and accounts receivable (AR)
  • Generating and paying bills
  • Invoicing customers and receiving payments
• General Ledger and Journal Entries MCQs
  • Understanding the general ledger structure
  • Recording and adjusting journal entries
  • Managing and reconciling accounts
• Payroll and Employee Management MCQs
  • Setting up employee records
  • Processing payroll and employee deductions
  • Handling employee benefits and taxes
• Financial Statements and Reports MCQs:
  • Generating and interpreting financial statements (e.g., Balance Sheet, Income Statement)
  • Customizing and analyzing reports
  • Understanding key financial metrics
• Backup and Data Management MCQs
  • Performing and restoring backups
  • Managing data integrity and security
  • Handling data migrations and updates
• System Configuration and Setup MCQs
  • Setting up company information and preferences
  • Customizing forms and templates
  • Configuring system settings and user permissions
• Troubleshooting and Support MCQs
  • Common issues and solutions
  • Accessing help resources and support
  • Performing basic troubleshooting steps
• Integration and Advanced Features MCQs
  • Integrating with other software or systems
  • Using advanced features like job costing or project management
  • Exploring additional modules or functionalities MCQs