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ACCT 251 Final Exam
ACCT 251 Final Exam – Page 1
The Final Exam has 3 pages and is worth 270 points total. This first page has all Multiple Choice questions.
Question 1.1. (TCO 1) To display the size of your backup file, you can use the Windows program called: (Points : 5)
Question 2.2. (TCO 1) The Edit menu allows you to do the following: (Points : 5)
Question 3.3. (TCO 1) The balance sheet lists: (Points : 5)
assets, liabilities, and capital of a business.
revenues and expenses of a business.
the percentage of revenue at the end of the year.
the percentage of debt at the end of the year.
Question 4.4. (TCO 1) Business managers and owners depend on financial statements because: (Points : 5)
Peachtree automatically calculates accurate financial statements.
financial statements are for internal use only.
they have primary responsibility for the business.
they can evaluate cash and make appropriate decisions.
they can use account balances to customize financial statements.
Question 5.5. (TCO 2) The sample company, Bellwether Garden Supply, uses which method of posting? (Points : 5)
Cash basis posting
Accrual basis posting
Question 6.6. (TCO 2) The posting method used by the business in Chapter 9 is: (Points : 5)
a combination of batch posting and real-time posting.