Multiple Choice Questions:

11. One way to display the balance sheet is to use these menu bar selections:

a. Reports & Forms; Financial Statements, Print

b. Reports & Forms; Financial Statements, Inventory, Options

c. Reports & Forms; Financial Statements, Balance Sheet, Display

d. Reports & Forms; Financial Statements, Financial Statements, Display

12. On the Navigation Bar, make the following selections to record a payment on account:

a. On the Customers & Sales Navigation Center, click on the Bank Deposits icon and select New Bank Deposit

b. On the Customers & Sales Navigation Center, click on the Receive Money icon and select Receive Money from Customer, Apply to Invoices tab

c. On the Bank Navigation Center, click on the Enter Bills icon and select New Bills

d. Maintain; Receipts, record the cash sale

13. The classified Balance Sheet will divide its Liabilities section as the following subsections:

a. Current Liabilities and Long-Term Liabilities

b. Current Liabilities and Other Liabilities

c. Other Liabilities and Long-Term Liabilities

d. Present Liabilities and Tomorrows Liabilities

14. The Balance Sheet will divide the assets section as follows:

a. Current Assets and Other Assets

b. Current Assets and Property, Plant, and Equipment

c. Current Assets and Long-Term Assets

d. Other Assets and Property, Plant and Equipment

15. The Balance Sheet should be prepared:

a. Before the income statement and the statement of retained earnings

b. Before the income statement and after the statement of retained earnings

c. After the income statement and the statement of retained earnings

d. After the income statement and before the statement of retained earnings

16. The price of each inventory item is stored in the:

a. Maintain Purchase Items file

b. Inventory & Services; Inventory Items file

c. Tasks; Inventory items

d. Tasks; Purchase orders

17. To go from the income statement to an original entry is called:

a. Drill down

b. Options, specific to the range

c. Display

d. Filter

18. The classified Balance Sheet will subsection the assets section as follows:

a. Current Assets and Other Assets

b. Current Assets and Property, Plant, and Equipment

c. Current Assets and Long-Term Assets

d. Other Assets and Property, Plant, and Equipment

19. Bellwether Garden Supply offers incentives to credit customers to pay sales on account faster, through the use of:

a. Purchase discounts

b. Discounts at the point of sale

c. Sales discounts

d. Net 30 day payments

20. Peachtree's accounts receivable system includes:

a. Accounts Payable subsidiary system

b. Controlling account in the general journal

c. Customer ledgers

d. Purchases/Receive Inventory window