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Ch03 Questions

The document contains a quiz on using Peachtree Complete Accounting 2012, including true/false and multiple choice questions about journal entries, financial statements, and accounting terms like compound entry and double-entry accounting.

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Caitlene Lee Uy
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98 views2 pages

Ch03 Questions

The document contains a quiz on using Peachtree Complete Accounting 2012, including true/false and multiple choice questions about journal entries, financial statements, and accounting terms like compound entry and double-entry accounting.

Uploaded by

Caitlene Lee Uy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Computerized Accounting With

PEACHTREE COMPLETE ACCOUNTING 2012


CHAPTER 3 QUIZ
TRUE/FALSE MULTIPLE CHOICE QUESTIONS:
1.

In Peachtree, to change a previously recorded journal entry, you must first delete
it and then create a new entry.
a. True
b. False

2.

A report listing assets, liabilities, and owners equity and used to show the
financial condition of a business on a specific date is which of the following?
a. statement of changes in financial position
b. income statement
c. balance sheet
d. journal

3.

Special journals eliminate the need for a general journal.


a. True
b. False

4.

Which of the following special journals is used to record purchases of goods or


services on account in Peachtree?
a. cash disbursements journal
b. cash receipts journal
c. purchases journal
d. sales journal

5.

Which of the following from the Reports & Forms menu would you choose to
print a balance sheet?
a. General Ledger
b. General Journal
c. Financial Statements
d. Company Reports

6.

Which option from the General Journal Entry toolbar would you choose to bring
up a previously recorded entry in the General Journal?
a. List
b. Recur
c. Row
d. Reports

Paradigm Publishing, Inc.

Page 1

MATCHING QUESTIONS:
A.
B.
C.
D.
E.
F.

compound entry
double-entry accounting
general journal
net loss
source documents
transactions

1. Financial events that change a firms assets, liabilities, or owners equity


2. A method of accounting in which equal debits and credits are recorded for each
transaction
3. A journal used to record all types of transactions
4. Papers that provide evidence of business transactions
5. A type of journal entry involving more than two accounts
6. The term used to refer to the excess of expenses over revenue

Paradigm Publishing, Inc.

Page 2

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