Tag: accountancy

Quizzes (207) Questions (428)

Questions Related to accountancy

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

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

  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.
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice accountancy accounting using data base management system (dbms) applications of dbms in generating accounting information accounting and database management system accounting and database system

Broad classification of assets is ______________.

  1. Fixed Assets

  2. Investments

  3. Currents Assets

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Assets are broadly classified into fixed assets, investments, and current assets to reflect their liquidity and purpose within the business.

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

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

  1. Land

  2. Patents

  3. Furniture

  4. Machinery
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Intangible assets are assets that lack physical substance. Patents are legal rights that provide value but cannot be touched, unlike land, furniture, or machinery.

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

Sundry creditor is the example of which liability?

  1. Non-current liability

  2. Current liability

  3. Capital

  4. Reserves
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Sundry creditors represent amounts owed to suppliers for goods or services purchased on credit, which are expected to be paid within a short period, classifying them as current liabilities.

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

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

  1. Capital

  2. Secured Loans

  3. Unsecured Loans

  4. Current Liabilities and Provisions
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Capital represents the owner's investment in the business, making it the primary component of the owner's fund.

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

Which of the following detail is included in Customers Master?

  1. Name of the Customer

  2. Address

  3. PAN Details

  4. All of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A Customer Master file contains all relevant static information about a customer, including their name, address, and tax identification details like PAN, to facilitate efficient transaction processing.

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

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

  1. Reporting System

  2. Front-end Interface

  3. Data Processing

  4. Back-end Database
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

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

______________ 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.

  1. Data Processing

  2. Front-end Interface

  3. Reporting System

  4. Back-end Database
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

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

  1. Operating Procedure

  2. Accounting Framework

  3. Data Processing

  4. Back-end Database
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

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