Drake Software Evaluation Guide

More documents

Recommendations

Info

2 1 0 | C P E E x a m 2 0 0 8 D R A K E S O F T W A R E20. In which case should Repair Index Files be used?a) When adding records to the EIN databaseb) After creating a new client filec) After a client return is calculatedd) Before processing e-file acknowledgements21. EIN, SSN, telephone numbers, and dates:a) Must be entered with no dashesb) Can be autofilled from the Auto fill Databasec) Need be entered only once, on screen 1d) Determine how returns are stored in the DDM22. Which of the following is a feature of Basic View/Print mode?a) A viewing tool that allows zooming and scrollingb) A viewing panel that displays a preview of a selected documentc) A collapsible and expandable tree view listing return documentsd) A color-coded cascade of forms that displays return documents23. To print blank federal or state tax forms in Drake Software:a) Go to Tools > Blank Forms, choose from the federal and state forms, and click Printb) Open a new return, click View, choose from the Forms list, and press CTRL + Pc) Click RIA Tax Forms, choose from the forms list, and click Printd) Click Support and download the selected forms from the Drake Support Web site24. Which statement is true about the PMT screen?a) This screen can be used to apply for a bank productb) If no payment date is entered on this screen, the default is the last day of the month in whichthe return was createdc) Separate accounts can be designed for federal and state payments on this screend) This screen is divided into two sections: one for withdrawals and the other for direct deposits25. Select one way to set the status of a return:a) From the Client Status Manager, click Customizeb) From within return data entry, click the CSM speed button and select a statusc) From the Client Status Manager, click Status, then select from the listd) From within return data entry, go to Tools > Set Client Status26. Where do you go to opt out of bonus depreciation for a 1065 return in Drake?a) From the Data Entry Menu, click BD or enter BD in the selector fieldb) From the Data Entry Menu, choose the 4562 tab and click Grid Data Entryc) From the Assets/Sales tab, go to the Depreciable Assets section and click 10 AdditionalDepreciation Electionsd) From the Depreciable Assets tab, click either Sales or AssetsDrake Software Evaluation GuideCopyrighted Material
2 0 0 8 D R A K E S O F T W A R E C P E E x a m | 2 1 127. You’ve bought and installed a new printer in your system. How do you add the printer to Drake forprinting tax returns?a) Create a new printer profile at Setup > Update Profileb) Enter the new printer settings at Setup > Printing > Printer Setupc) The program automatically detects every printer installed on your computerd) The program automatically recognizes new printers and goes online to download new drivers28. Of the following, which action produces Form 8879 in the software?a) Entering the EF screenb) Entering the PIN screenc) Entering the 8453 screend) Entering the 8879 screen29. The Drake Document Manager allows you to build an electronic file structure using the followingthree levels:a) 1 - Cabinet, 2 - Drawer, 3 - Folderb) 1 - Drawer, 2 - Folder, 3 - Filec) 1 - File, 2 - Folder, 3 - Documentd) 1 - Cabinet, 2 - Folder, 3- File30. PDF995 allows you to:a) Install the PDF printer in Setup > Printing > Default Printerb) Print returns and files in PDF formatc) Print e-filed returns from the Drake EF Databased) Print e-filed returns directly from the IRS Web site31. Which screen is used to electronically sign the Consent to Use of Tax Information required by IRSRegulation 7216?a) CONS screenb) USE screenc) DISC screend) BANK screen32. What support resource offers a database of technical support issues and articles of interest?a) Knowledge Baseb) Forumsc) Fed/State Factsd) Drake ETC33. In Drake, the form used to calculate a partner’s new basis for income or gain is:a) Partner’s Special Allocation screenb) Partner’s Adjusted Basis worksheetc) M2 Partner’s Capitald) Schedule K-1 Partner’s InformationCopyrighted MaterialDrake Software Evaluation Guide
Page 3 and 4:
2 0 0 8 D R A K E S O F T W A R E C
Page 5:
2 0 0 8 D R A K E S O F T W A R E |
Page 8 and 9:
2 | W e l c o m e 2 0 0 8 D R A K E
Page 10 and 11:
4 | C P E I n f o r m a t i o n 2 0
Page 12 and 13:
6 | I n s t a l l i n g t h e S o f
Page 14 and 15:
8 | I n s t a l l i n g t h e S o f
Page 16 and 17:
1 0 | I n s t a l l i n g t h e S o
Page 18 and 19:
1 2 | I n s t a l l i n g t h e S o
Page 20 and 21:
1 4 | N a v i g a t i n g t h e P r
Page 22 and 23:
1 6 | N a v i g a t i n g t h e P r
Page 24 and 25:
1 8 | P r o g r a m S e t u p 2 0 0
Page 26 and 27:
2 0 | P r o g r a m S e t u p 2 0 0
Page 28 and 29:
2 2 | P r o g r a m S e t u p 2 0 0
Page 30 and 31:
2 4 | P r o g r a m S e t u p 2 0 0
Page 32 and 33:
2 6 | P r o g r a m S e t u p 2 0 0
Page 34 and 35:
2 8 | P r o g r a m S e t u p 2 0 0
Page 36 and 37:
3 0 | P r o g r a m S e t u p 2 0 0
Page 38 and 39:
3 2 | P r o g r a m S e t u p 2 0 0
Page 40 and 41:
3 4 | P r o g r a m S e t u p 2 0 0
Page 42 and 43:
3 6 | P r o g r a m S e t u p 2 0 0
Page 44 and 45:
3 8 | R e v i e w Q u e s t i o n s
Page 46 and 47:
4 0 | H o t K e y s 2 0 0 8 D R A K
Page 48 and 49:
4 2 | R e v i e w Q u e s t i o n s
Page 50 and 51:
4 4 | R e t u r n P r e p a r a t i
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
9 0 | C a l c u l a t e a n d P r i
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
1 0 0 | R e v i e w Q u e s t i o n
Page 108 and 109:
1 0 2 | E l e c t r o n i c a l l y
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
1 1 6 | B u s i n e s s R e t u r n
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
1 3 8 | P a r t n e r s h i p R e t
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167: 1 6 0 | R e v i e w Q u e s t i o n
Page 168 and 169: 1 6 2 | T o o l s 2 0 0 8 D R A K E
Page 176 and 177: 1 7 0 | R e p o r t s 2 0 0 8 D R A
Page 188 and 189: 1 8 2 | S u p p o r t R e s o u r c
Page 196 and 197: 1 9 0 | S u i t e P r o d u c t s 2
Page 208 and 209: 2 0 2 | G l o s s a r y 2 0 0 8 D R
Page 214 and 215: 2 0 8 | C P E E x a m 2 0 0 8 D R A
Page 218 and 219: 2 1 2 | C P E E x a m 2 0 0 8 D R A
Page 220 and 221: 2 1 4 | C P E E x a m A n s w e r S
Page 222 and 223: v i |2 0 0 8 D R A K E S O F T W A
Page 224 and 225: v i i i |2 0 0 8 D R A K E S O F T
Page 226 and 227: x |2 0 0 8 D R A K E S O F T W A R
Page 228: x i i |2 0 0 8 D R A K E S O F T W
show all

Drake Software Evaluation Guide

Create successful ePaper yourself

Delete template?

Save as template?