Setting up company information and preferences MCQs on Peach Tree

1. What is the primary purpose of entering company information in Peachtree during setup?
   a) To personalize the software interface
   b) To ensure accurate financial reporting and record-keeping
   c) To enhance the performance of the software
   d) To enable multi-user access
   Answer: b) To ensure accurate financial reporting and record-keeping
2. Which menu option should be selected to enter or edit company information in Peachtree?
   a) Company menu > Company Information
   b) File menu > Company Preferences
   c) Options menu > Company Setup
   d) Tools menu > Company Configuration
   Answer: a) Company menu > Company Information
3. What key information is typically required when setting up a new company in Peachtree?
   a) Company name, address, and fiscal year
   b) User roles and permissions
   c) Inventory item details
   d) Vendor payment terms
   Answer: a) Company name, address, and fiscal year
4. How can you set the fiscal year in Peachtree during company setup?
   a) By selecting the fiscal year start and end dates in the company information section
   b) By importing the fiscal year settings from an existing company file
   c) By configuring the tax settings
   d) By running the fiscal year wizard
   Answer: a) By selecting the fiscal year start and end dates in the company information section
5. What is the purpose of configuring company preferences in Peachtree?
   a) To tailor the software to meet specific business needs and streamline operations
   b) To update software to the latest version
   c) To import historical data
   d) To set user passwords
   Answer: a) To tailor the software to meet specific business needs and streamline operations
6. Where can you configure the default settings for transactions in Peachtree?
   a) Defaults menu > Maintain Default Information
   b) File menu > Transaction Preferences
   c) Edit menu > Default Settings
   d) Tools menu > Transaction Configuration
   Answer: a) Defaults menu > Maintain Default Information
7. What is the significance of setting up default accounts for transactions in Peachtree?
   a) To ensure that all transactions are posted to the correct accounts automatically
   b) To enhance user interface customization
   c) To enable data export to Excel
   d) To set user permissions
   Answer: a) To ensure that all transactions are posted to the correct accounts automatically
8. Which of the following should be configured to ensure correct sales tax calculations in Peachtree?
   a) Sales tax codes and tax agencies
   b) User access levels
   c) Inventory categories
   d) Customer communication preferences
   Answer: a) Sales tax codes and tax agencies
9. What should you do to configure the appearance and layout of reports in Peachtree?
   a) Set preferences in the Reports and Forms section
   b) Adjust settings in the User Interface section
   c) Modify the chart of accounts
   d) Customize the toolbar
   Answer: a) Set preferences in the Reports and Forms section
10. Why is it important to review and adjust the company information and preferences after the initial setup?
    a) To ensure that the software continues to meet the evolving needs of the business
    b) To update the software to the latest version
    c) To add new user accounts
    d) To clear historical data
    Answer: a) To ensure that the software continues to meet the evolving needs of the business

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