Tag: elements of accounts

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Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

Since the computer can do many jobs simultaneously, segregation is not as defined as it is in a manual system. How can a computer system be modified to compensate for the lack of segregation of duties? 

  1. The computer system should be under the direction of the internal audit department.

  2. The computer system should be accessible to various competent parties so they can check on each other's work.

  3. Strong controls should be built into both the computer software and hardware to limit access and manipulation.

  4. Many companies run complete parallel manual and automated accounting systems for a cross check on input and output.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In computerized systems, since one person can perform multiple tasks, compensating controls like access restrictions, password protection, and audit logs are necessary to maintain security and integrity.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

The most commonly used input device are ________ and ________.

  1. keyboard, mouse

  2. keyboard, printer

  3. graphic plotter, mouse

  4. graphic plotter, keyboard
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A keyboard and a mouse are the standard, most widely used hardware devices for entering data and commands into a computer.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

Which of the following are components of computer?

  1. Input Unit

  2. Central Processing System

  3. Output Unit

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

A computer system consists of an input unit, a central processing unit (CPU), and an output unit to function as a complete information processing system.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

Broadly, the components of Computerised Accounting System are :

  1. Computer Hardware

  2. Software

  3. Financial Data

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

A computerized accounting system requires hardware to run, software to process data, and the financial data itself to be effective.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

What is a computerized accounting system?

  1. It's a system that teaches accounting courses.

  2. It is a program that counts the currency that comes into a business.

  3. It's a computer that is dedicated to accounting entries.

  4. A software package that manages the financial activities and records of a business.
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

Which of the following is not included in components of computerised accounting system?

  1. Computer Hardware

  2. Software

  3. Financial Data

  4. None of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All the listed options (computer hardware, software, and financial data) are components of a computerized accounting system. Since all options are included, the correct choice is None of the above meaning none of these are excluded from the components.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

The success of a growing organisation with a complexity of transactions tends to depend on ______________.

  1. resource optimisation

  2. quick decisio-making

  3. control

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

As organizations grow, they require efficient resource management, quick decision-making, and strong internal controls to maintain stability and profitability.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

The accounting software is so designed that a transaction, once entered, is automatically transported or transferred or posted to the ledger account.

  1. True

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

One of the primary benefits of computerized accounting software is the automation of posting transactions to the general ledger once they are entered in a journal or voucher.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

Which of the following is not the feature of Computerised Accounting System?

  1. Online Input and Storage of Accounting Data.

  2. Printout of Vouchers and Invoices.

  3. Recording of Bank Receipts.

  4. None of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All options listed (online input and storage, printout of vouchers and invoices, recording of bank receipts) are indeed features of computerized accounting systems. Since all are features, the correct answer is None of the above, meaning none of these are excluded as features.

Multiple choice elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

Which of the following are the limitations of computer system?

  1. Lack of commonsense, Lack of decision making, Zero IQ

  2. Speed, Accuracy, Zero IQ

  3. Lack of commonsense, Lack of decision making, Accuracy

  4. Lack of commonsense, Speed, Accuracy
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A computer system possesses some characteristics, which in comparison to human beings, turn out to be its capabilities but there are some limitations of computer system which are as follows: Lack of commonsense, Zero IQ, Lack of decision-making etc.