Tag: accountancy

Questions Related to accountancy

One of the greatest difficulties in auditing a computerized accounting system is:

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  1. Data can be erased from the computer with no visible evidence.

  2. Because of the lack of an audit trail, computer systems have weaker controls and more substantive testing is required.

  3. Because of the uniform nature of transaction processing, computer systems have strong controls and less substantive testing is required.

  4. The large dissemination of entry points into the computer system leads to weak overall reliance on information generated by a computer.

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Correct Option: A

Liability means the amount owed by the entity.

accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

  1. True

  2. False

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Correct Option: A

Broad classification of assets is ______________.

accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

  1. Fixed Assets

  2. Investments

  3. Currents Assets

  4. All of the above

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Correct Option: D

Which of the following is the example of intangible fixed assets?

accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

  1. Land

  2. Patents

  3. Furniture

  4. Machinery

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Correct Option: B

Sundry creditor is the example of which liability?

accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

  1. Non-current liability

  2. Current liability

  3. Capital

  4. Reserves

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Correct Option: B

Which of the following is related to owner's fund?

accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

  1. Capital

  2. Secured Loans

  3. Unsecured Loans

  4. Current Liabilities and Provisions

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Correct Option: A

Which of the following detail is included in Customers Master?

accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

  1. Name of the Customer

  2. Address

  3. PAN Details

  4. All of the above.

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Correct Option: D

A sequence of actions taken to transform the data into decision useful information is ________.

accountancy accounting and database system applications of dbms in generating accounting information accounting and database management system accounting using data base management system (dbms)

  1. Reporting System

  2. Front-end Interface

  3. Data Processing

  4. Back-end Database

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Correct Option: C
Explanation:

The use of computers in any database oriented application has four basic requirements & it is one of them.

Data Processing is a sequence of actions that are taken to transform the data into decision useful information.

______________ is the data storage system that is hidden from the user and responds to the requirement of the user to the extent the user is authorised to access.

accountancy accounting and database system applications of dbms in generating accounting information accounting and database management system accounting using data base management system (dbms)

  1. Data Processing

  2. Front-end Interface

  3. Reporting System

  4. Back-end Database

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Correct Option: D
Explanation:

Back-end Database is the data storage system that is hidden from the user and responds to the requirement of the user is authorised to access. It is one among the four basic requirement used for computers in any database oriented application.

A basic requirement which consist a set of principles, coding and grouping structure of accounting is _______________.

accountancy accounting and database system applications of dbms in generating accounting information accounting and database management system accounting using data base management system (dbms)

  1. Operating Procedure

  2. Accounting Framework

  3. Data Processing

  4. Back-end Database

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Correct Option: B
Explanation:

Accounting Framework consist a set of principles, coding and grouping structure of accounting.