DEVRY ACCT 251 Final Exam

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DEVRY ACCT 251 Final Exam

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• 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)
• Windows Explorer
• Scan disk
• Defrag
• Windows Accessories
• Windows Defender
• Question 2.2. (TCO 1) The Edit menu allows you to
  do the following (Points 5)
• cut
• copy
• paste
• clear
• find transactions
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• Question 3.3. (TCO 1) The balance sheet lists
  (Points 5)

2

• 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)
• Batch posting
• Real-time posting
• Cash basis posting
• Accrual basis posting
• Just-in-time posting
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• Question 6.6. (TCO 2) The posting method used by
  the business in Chapter 9 is (Points 5)
• batch posting
• real-time posting
• a combination of batch posting and real-time
  posting.
• accrual posting

3

• Question 7.7. (TCO 2) The account type specified
  on the chart of accounts is also the account
  classification for the (Points 5)
• balance sheet and income statement
• general ledger
• general journal
• cash receipts journal
• receipts
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• Question 8.8. (TCO 3) In Chapter 11, the
  ______________________________is completed before
  recording and posting the end-of-quarter
  adjusting entries. (Points 5)
• adjusted trial balance
• cash disbursements journal
• unadjusted trial balance
• cash receipts journal
• post-closing trial balance
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• Question 9.9. (TCO 3) The best time to record
  adjusting entries is (Points 5)
• the end of the quarter.
• the end of each month.
• six month intervals.
• the end of the year only.