Computerized Accounting Software Quiz
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Questions and Answers

Which of the following is a computerized accounting software?

  • AuditMaster
  • Excel Pro
  • QuickBooks Lite
  • PCA package (correct)

Which of these software options is not typically used for accounting?

  • Sage Accounting
  • Photoshop CC (correct)
  • FreshBooks
  • PCA package

What is one potential benefit of using computerized accounting software?

  • Reduction in data security
  • Complexity in financial reporting
  • Increased manual data entry
  • Enhanced accuracy in calculations (correct)

Which of the following is least likely to be a feature of computerized accounting software?

<p>Manual ledger entries (D)</p> Signup and view all the answers

What is the primary role of computerized accounting software?

<p>To manage and process financial transactions (A)</p> Signup and view all the answers

What is the main advantage of using a computerized accounting system?

<p>Enhanced security and accessibility (A)</p> Signup and view all the answers

Which of the following options represents the correct combination of benefits provided by computerized accounting systems?

<p>Security and accessibility (A)</p> Signup and view all the answers

Which statement is true regarding computerized accounting systems?

<p>They can improve both security and accessibility. (A)</p> Signup and view all the answers

What is NOT a benefit typically associated with computerized accounting systems?

<p>Data corruption (A)</p> Signup and view all the answers

Which of the following is a recognized type of accounting system?

<p>Online accounting system (A), Paper-based accounting system (B), Manual accounting system (C)</p> Signup and view all the answers

Which statement accurately describes customized software?

<p>It is software that can be modified to meet specific needs. (D)</p> Signup and view all the answers

What is the nature of PCA and QuickBooks in the context of software?

<p>They are examples of customized software. (C)</p> Signup and view all the answers

Which of the following statements is true regarding tailor-made software?

<p>It can be developed to suit particular business processes. (B)</p> Signup and view all the answers

Which of the following best contrasts customized software with standard software?

<p>Customized software is unique and designed for specific needs, while standard software is generic. (B)</p> Signup and view all the answers

How does the cost of developing customized software generally compare to off-the-shelf solutions?

<p>It generally costs more due to development and tailored features. (D)</p> Signup and view all the answers

Where is the navigation bar located in most Peachtree windows?

<p>On the left side of the window (A)</p> Signup and view all the answers

Which of the following statements about the navigation bar in Peachtree is true?

<p>It appears on the left side of the window. (D)</p> Signup and view all the answers

What is the incorrect assertion about the Peachtree navigation bar's location?

<p>It is located at the bottom. (A)</p> Signup and view all the answers

Which position does the navigation bar NOT occupy in Peachtree windows?

<p>Top of the window (A), Right side of the window (B), Bottom of the window (C)</p> Signup and view all the answers

Identify the true statement regarding the navigation bar's location in Peachtree.

<p>It usually appears on the left. (D)</p> Signup and view all the answers

What account is credited when recording the materials cost for Adler’s Landscaping?

<p>Accounts Payable (A)</p> Signup and view all the answers

What is the purpose of a Vendor Ledgers Report?

<p>To manage vendor payments and credits (A)</p> Signup and view all the answers

Which account would typically be involved in recording a materials purchase?

<p>Accounts Payable (D)</p> Signup and view all the answers

Which of the following accounts is not involved in the transaction described?

<p>Common Stock (B)</p> Signup and view all the answers

What is the correct double-entry for recording materials cost?

<p>Debit Materials Cost, Credit Accounts Payable (C)</p> Signup and view all the answers

What should you click on in the Banking Navigation Center to begin the process of receiving money?

<p>Receive Money Icon (C)</p> Signup and view all the answers

After clicking on the Receive Money icon, what option should you select next?

<p>Receive Money From Customer (A)</p> Signup and view all the answers

Where do you record the cash sale after selecting Receive Money From Customer?

<p>Apply to Revenues Tab (C)</p> Signup and view all the answers

Which of the following steps is part of receiving money from a customer?

<p>Record the cash sale (B)</p> Signup and view all the answers

What is the first action required in the process of receiving money in the Banking Navigation Center?

<p>Click on Receive Money Icon (D)</p> Signup and view all the answers

Flashcards

Computerized Accounting System Benefits

Benefits include security and accessibility of accounting data.

Question 3 Answer

The answer to question 3 combines security and accessibility.

Computerized Accounting System Types

Specific types of accounting systems exist.

Question A & B Answer

The answer is D for a specific question involving A and B.

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Data Corruption

Data corruption is a potential problem with computerized accounting systems.

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Unemployment

The state of being without a job.

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Software used

Computer programs for accounting tasks.

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PCA package

A computer accounting program.

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Accounting software

Programs for managing financial information .

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Financial Data

Information related to money or business.

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Customized Software

Software designed to meet specific needs of a particular user or organization.

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PCA and QuickBooks

Common software programs, but not customized.

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Customized Software Programs

Software created for specific tasks or processes.

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PCA

A common software program, not customized.

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QuickBooks

A common software program, not customized.

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Navigation Bar Location

The navigation bar is typically located at the left side of Peachtree windows.

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Peachtree Navigation

The navigation bar's location in Peachtree is on the left.

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Question 9 Answer (False)

The statement about the navigation bar location in Peachtree windows is false.

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Question 9 Correct Answer

The correct location for the navigation bar is on the left.

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Question 10

A question with missing context about a Peachtree window.

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Sales Journal Entry

An accounting entry recording sales transactions.

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Vendor Ledgers Report

A report showing transactions with suppliers/vendors.

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Materials Cost Dr. Account

An account that increases the value of raw materials used in production.

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Accounts Payable

Liability account representing amounts owed to vendors.

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Correct Journal Entry

The journal entry reflecting a transaction accurately.

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Receive Money

A banking process for receiving funds from clients.

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Apply to Revenues

Record cash sales to update income accounts.

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Cash Sale Recording

Entering cash sales into a financial system.

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Banking Navigation

Using a bank's online interface to manage financial transactions.

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Customer Funds Receipt

Process for accepting payments from clients/customers.

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