Answer True or False to each of the following. 1.  To add a customer you click on the Task menu.         True/False 2.  A list of all the accounts used by a company showing the assigned numbers to each account is called Chart of Accounts. True/False 3.  Reports can only be generated for final accounts when using an accounting software package. True/False 4. Under the File Menu, more than one company can be viewed at a time. True/False 5.  To  add a vendor click on Maintain,  add vendor. True/False

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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 Answer True or False to each of the following.

1.  To add a customer you click on the Task menu.        

True/False

2.  A list of all the accounts used by a company showing the assigned numbers to each account is called Chart of Accounts.

True/False

3.  Reports can only be generated for final accounts when using an accounting software package.

True/False

4. Under the File Menu, more than one company can be viewed at a time.

True/False

5.  To  add a vendor click on Maintain,  add vendor.

True/False

Answer True or False to each of the following.

1. A quote can be converted to a sales invoice 

2. Most companies use batch posting instead of real-time posting for transactions 

3. The Peachtree system can use both the accrual basis and cash basis to record   transactions of accounting 

4. To set up a new company, you would select the maintain option on the menu bar 

5. Accounts descriptions cannot be changed once they have been saved 

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The Peachtree system can use both the accurals basis and cash basis to record transactions of accounting true or false

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