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Computerised Accounting System

Q: ____________by definition, is the process of identifying, recording, classifying and summarising financial transactions to produce the financial reports for their ultimate analysis.

Accounting, by definition, is the process of identifying, recording, classifying and summarising financial transactions to produce the financial reports for their ultimate analysis.

Q: _________ is not an advantage of computerised accounting system.

The advantages of computerised accounting system are speed, accuracy and up-to-date information, whereas cost of training is a limitation of computerised accounting system.

Q: Transactions lead to data duplication in __________ accounting system.

In a manual accounting system, transactions recorded in the books of original entry are further classified by posting into ledger accounts. This results in transaction data duplicity. In computerised accounting, no such data duplication is made to cause classification of transactions.

Q: The computerised accounting system are ________.

In a computerized accounting system, the requirement of additional manpower is confined to data entry operators for storing additional vouchers. The marginal cost of processing additional transactions is almost negligible because of which the computerized accounting system is highly scalable.

Q: The recording of financial transactions through the books of original entries is followed in ________ accounting system.

The recording of financial transactions, in a manual accounting system is through books of original entries while the data content of such transactions is stored in a well-designed accounting database in the computerized accounting system.

Q: Which of the following softwares are used for data processing?(i) EXCEL (ii) ACCESS (iii) SPSS (iv) STAR (v) PASW.

SPSS, as the name suggests, is software for performing statistical procedures in the social sciences field. The major limitation of SPSS is that it cannot be used to analyze a very large data set.

Q: The following is not a limitation of computerized accounting system________.

The limitations of computerised accounting system are staff opposition, disruption and system failure, whereas reliability is and advantage of computerised accounting system. The main limitations emerge out of the environment in which the computerised accounting system is made to operate.

Q: ___________ is the basic requirement which consists a set of principles, coding and grouping structure of accounting.

Every computerised accounting system has two basic requirements; Accounting Framework : It consists a set of principles, coding and grouping structure of accounting.

Q: In a manual accounting system, ___________ are made to adhere to the principle of cost matching revenue, whereas in computerised accounting system _________ are prepared and stored to follow the principle of cost matching revenue.

In a manual accounting system Adjusting entries are recorded to match the expenses of the accounting period with the revenues generated by them.In computerized accounting, Journal vouchers are prepared and stored to follow the principle of cost matching revenue.

Q: The identification of transactions, based on application of accounting principles, is common to _________ accounting system.

Identification of transactions is one of the activities in the context of a comparison between manual and computerized accounting systems. The identification of transactions, based on the application of accounting principles, is common to both manual and computerized accounting systems.

Accountancy
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Easy Qs Med Qs Hard Qs

____________by definition, is the process of identifying, recording, classifying and summarising financial transactions to produce the financial reports for their ultimate analysis.

Cost accounting

Accounting

Management accounting

Financial accounting

Medium

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_________ is not an advantage of computerised accounting system.

Speed

Cost of Training

Accuracy

Up-to-Date Information

Medium

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Transactions lead to data duplication in __________ accounting system.

Computerised

Manual

Both manual and computerised

None of these

Medium

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The computerised accounting system are ________.

Scalable

Less scalable

Highly scalable

None of the Above

Medium

View solution>

The recording of financial transactions through the books of original entries is followed in ________ accounting system.

Computerised

Manual

Both manual and computerised

None of these

Medium

View solution>

Which of the following softwares are used for data processing?
(i) EXCEL (ii) ACCESS (iii) SPSS (iv) STAR (v) PASW.

(i), (ii), (iv) and (v)

(ii), (iii), (iv) and (v)

(iii) and (iv)

(i), (iii) and (iv)

Medium

View solution>

The following is not a limitation of computerized accounting system________.

Staff Opposition

Disruption

Reliability

System Failure

Medium

View solution>

___________ is the basic requirement which consists a set of principles, coding and grouping structure of accounting.

Operating procedure

Accounting framework

Data processing

Back-end database

Medium

View solution>

In a manual accounting system, ___ are made to adhere to the principle of cost matching revenue, whereas in computerised accounting system _ are prepared and stored to follow the principle of cost matching revenue.

adjusting entries, journal vouchers

journal entries, journal vouchers

adjusting entries, journal entries

None of these

Medium

View solution>

The identification of transactions, based on application of accounting principles, is common to _________ accounting system.

manual

computerised

Both (a) and (b)

None of the above

Medium

View solution>

Computerised Accounting System

Accountancy 611 Views

____________by definition, is the process of identifying, recording, classifying and summarising financial transactions to produce the financial reports for their ultimate analysis.

_________ is not an advantage of computerised accounting system.

Transactions lead to data duplication in __________ accounting system.

The computerised accounting system are ________.

The recording of financial transactions through the books of original entries is followed in ________ accounting system.

Which of the following softwares are used for data processing? (i) EXCEL (ii) ACCESS (iii) SPSS (iv) STAR (v) PASW.

The following is not a limitation of computerized accounting system________.

___________ is the basic requirement which consists a set of principles, coding and grouping structure of accounting.

In a manual accounting system, ___________ are made to adhere to the principle of cost matching revenue, whereas in computerised accounting system _________ are prepared and stored to follow the principle of cost matching revenue.

The identification of transactions, based on application of accounting principles, is common to _________ accounting system.

Accountancy
611 Views

Which of the following softwares are used for data processing?
(i) EXCEL (ii) ACCESS (iii) SPSS (iv) STAR (v) PASW.

In a manual accounting system, ___ are made to adhere to the principle of cost matching revenue, whereas in computerised accounting system _ are prepared and stored to follow the principle of cost matching revenue.