Scribd Logo
Upload

Welcome to Scribd!

  • 283 views

    Computerized Accounting With Peachtree Complete Accounting 2012 Chapter 2 Quiz True/False - Multiple Choice Questions

    Uploaded by

    Caitlene Lee Uy
    The document contains a quiz on Peachtree Complete Accounting 2012 with multiple choice and matching questions testing knowledge of accounting concepts like accounts receivable, fixed assets, double taxation, and general ledger trial balances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Computerized Accounting With Peachtree Complete Accounting 2012 Chapter 2 Quiz True/False - Multiple Choice Questions

    Uploaded by

    Caitlene Lee Uy
    283 views2 pages
    The document contains a quiz on Peachtree Complete Accounting 2012 with multiple choice and matching questions testing knowledge of accounting concepts like accounts receivable, fixed assets, double taxation, and general ledger trial balances.

    Original Description:

    Ch02 Questions

    Original Title

    Ch02 Questions

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document contains a quiz on Peachtree Complete Accounting 2012 with multiple choice and matching questions testing knowledge of accounting concepts like accounts receivable, fixed assets, double taxation, and general ledger trial balances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    283 views2 pages

    Computerized Accounting With Peachtree Complete Accounting 2012 Chapter 2 Quiz True/False - Multiple Choice Questions

    Uploaded by

    Caitlene Lee Uy
    The document contains a quiz on Peachtree Complete Accounting 2012 with multiple choice and matching questions testing knowledge of accounting concepts like accounts receivable, fixed assets, double taxation, and general ledger trial balances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Computerized Accounting With

    PEACHTREE COMPLETE ACCOUNTING 2012


    CHAPTER 2 QUIZ
    TRUE/FALSE MULTIPLE CHOICE QUESTIONS:
    1.

    Peachtree will allow you to save and close the Beginning Balances window even
    if the general ledger accounts do not balance.
    a. True
    b. False

    2.

    Which Peachtree account type is used to record amounts owed by customers for
    goods or services purchased on account?
    a. Accounts Payable
    b. Accounts Receivable
    c. Inventory
    d. Income

    3.

    Which Peachtree account type includes intangible assets such as copyrights,


    patents, and goodwill?
    a. Current Assets
    b. Fixed Assets
    c. Other Assets
    d. Owners Equity

    4.

    Which of the following is not an advantage of the corporation form of ownership?


    a. limited liability
    b. double taxation
    c. continuous life
    d. greater ability to raise capital than a sole proprietorship or partnership

    5.

    Which form of ownership involves one or more persons making management


    decisions, unlimited liability of the owners, and the mutual agency rule?
    a. sole proprietorship
    b. partnership
    c. corporation
    d. None of the above

    6.

    General ledger accounts in Peachtree must each have a unique number for
    identification purposes.
    a. True
    b. False

    Paradigm Publishing, Inc.

    Page 1

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

    double taxation
    Equity
    Fixed Assets
    General Ledger
    accounts payable
    General Ledger Trial Balance

    1. Debts owed by the business for goods or services purchased on account


    2. A report that lists general ledger accounts and their balances in order to prove that
    the general ledger is in balance
    3. A report that shows the activities of a companys accounts over a specific period
    of time
    4. Occurs when earnings of the corporation are taxed first at the corporate level and
    then again at the individual level when stockholders receive a share of the
    corporations earnings in the form of dividends
    5. Account type of accounts such as Plant Assets, Equipment, and Land
    6. Account type of accounts such as Capital and Drawing

    Paradigm Publishing, Inc.

    Page 2

    You might also like