Tag: accountancy

Quizzes (207) Questions (428)

Questions Related to accountancy

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

Every report is collection of related information for a particular need and purpose and must meet the twin objectives of reporting.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A report is prepared with a definite objective. Every report is collection of related information for a particular need and purpose and must meet the twin objectives of reporting: one to reduce the level of uncertainty that is faced by a decision-maker; second to influence the behavior (or positive actions) of the decision-maker.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

The record set of final SQL that relies upon preceding SQL statement, is collection of report-oriented information. 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The record set of final SQL that relies upon preceding SQL statement, is collection of report-oriented information. This record set need be embedded in the report being produced.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

_________ are meant to create the SQL compatible query statement with or without the help of Graphic User Interface to define tables, store data and retrieve both data and information.

  1. Tables

  2. Queries

  3. Pages

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

Queries are the database objects used to retrieve, filter, and manipulate data from tables using SQL or graphical interfaces.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

The object class meant to create data access pages, which can be posted on a website of an organisation using internet or sent via e-mail is called _________.

  1. forms

  2. tables

  3. reports

  4. pages
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Data access pages are specialized HTML files created in older versions of MS Access to allow database interaction over the web or via email.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

A positive net amount implies a _________ and _________ amount implies a credit.

  1. debit, positive

  2. debit, credit

  3. debit, negative

  4. credit, positive
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In accounting database models, positive values are typically assigned to debits, while negative values are assigned to credits to allow for simple summation.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

__________ report design appears on the RHS of Database Window as object under reports.

  1. Balance sheet

  2. Trial balance

  3. Profit and loss

  4. Both a and c
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In the context of the specific database accounting model being referenced, the trial balance report is the object saved and displayed under the reports list.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

Under Model-II, the sum of amount is to be multiplied by _____ to ensure that the amount of credit is always negative just as amount of debit is taken as positive.

  1. 1

  2. -2

  3. -1

  4. 3
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

To ensure that credit amounts are treated as negative values in a calculation, they are multiplied by -1, which flips their sign while maintaining their magnitude.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

Under Model-I, the sum of amount generated by sum (amount) is multiplied by ____ so that the final amount assigned to total field is always negative.

  1. 1

  2. -1

  3. -2

  4. 2
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Similar to Model-II, Model-I requires multiplying the sum of certain amounts by -1 to ensure the total field reflects the correct negative balance for credits.

Multiple choice accountancy accounting software - tally concept of entity and relationship designing and creating simple tables, forms, and queries objective in dbms

Every transacted amount that have been debited as well as credited appear _______ in record set.

  1. once

  2. twice

  3. thrice

  4. both a and c
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In a double-entry accounting system, every transaction involves at least two entries: one debit and one credit, meaning the amount appears twice in the record set.

Multiple choice accountancy depreciation accounting asset disposal account disposal of asset disposal of asset and any addition or extension to the existing asset

When scrap is sold ________ account is credited.

  1. Asset A/c

  2. Bank A/c

  3. Scrap A/c

  4. None of the Above.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Scrap value is the estimated cost that a fixed asset can be sold for after providing in for full depreciation.  When an asset is purchased, asset account is debited as assets have debit balance. So when scrap is sold, asset account is credited with the amount received on sale.