Computerized Accounting Software Quiz

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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?

Manual ledger entries (D) Signup and view all the answers

What is the primary role of computerized accounting software?

To manage and process financial transactions (A) Signup and view all the answers

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

Enhanced security and accessibility (A) Signup and view all the answers

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

Security and accessibility (A) Signup and view all the answers

Which statement is true regarding computerized accounting systems?

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

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

Data corruption (A) Signup and view all the answers

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

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

Which statement accurately describes customized software?

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

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

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

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

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

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

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

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

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

Where is the navigation bar located in most Peachtree windows?

On the left side of the window (A) Signup and view all the answers

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

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

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

It is located at the bottom. (A) Signup and view all the answers

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

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

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

It usually appears on the left. (D) Signup and view all the answers

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

Accounts Payable (A) Signup and view all the answers

What is the purpose of a Vendor Ledgers Report?

To manage vendor payments and credits (A) Signup and view all the answers

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

Accounts Payable (D) Signup and view all the answers

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

Common Stock (B) Signup and view all the answers

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

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

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

Receive Money Icon (C) Signup and view all the answers

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

Receive Money From Customer (A) Signup and view all the answers

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

Apply to Revenues Tab (C) Signup and view all the answers

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

Record the cash sale (B) Signup and view all the answers

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

Click on Receive Money Icon (D) Signup and view all the answers

Computerized Accounting System Benefits

Benefits include security and accessibility of accounting data.

Question 3 Answer

The answer to question 3 combines security and accessibility.