Tag: elements of accounts

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Questions Related to elements of accounts

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

A simple computerised accounting system accepts the complete transaction data as output.

  1. True

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

A simple computerised accounting system accepts the complete transaction data as input; stores such data in computer storage media (say hard disk) and retrieves the accounting data for processing as and when required for generating an accounting report, as output. 

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

MIS is viewed and used by which of the following levels by management?

  1. Operational, Tactical, Static

  2. Operational, Factual, Strategic

  3. Operational, Tactical, Strategic

  4. Operational, Tactical, Sequencial
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

MIS is supportive of the institution's long-term strategic goals and objectives. MIS is viewed and used at many levels by management: Operational, Tactical and Strategic.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

Which of the following represent examples of general, application and user control activities, respectively, in the computer environment?

  1. Control over access to programs, computer exception. reports, and manual checks of computer output.

  2. Manual checks of computer output, control over access to programs and computer exception reports.

  3. Computer exception reports, control over access to programs and manual checks of computer output.

  4. Manual checks of computer output, computer exception reports and control over access to programs
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

General controls relate to the environment (access to programs), application controls relate to specific processing (exception reports), and user controls involve manual verification of results.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

Accounting information system identifies, collects, processes, and communicates economic information about an entity to a wide variety of users. 

  1. True

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

Accounting Information System (AIS) identifies, collects, processes, and communicates economic information about an entity to a wide variety of users. Such information is organised in a manner that correct decisions can be based on it. 

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

If an auditor is using test data in a client's computer system to test the integrity of the system's output, which of the following type of controls is the auditor testing.

  1. General controls

  2. User controls

  3. Quantitative test controls

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

Testing the integrity of system output using test data is a classic method for verifying application controls, which ensure that data is processed correctly.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

Which of the following would not be an appropriate procedure for testing the general control activities of an information system?

  1. Inquiries of client personnel

  2. Inspecting computer logs

  3. Testing for the serial sequence of source documents

  4. Examination of the organizational chart to determine the segregation of duties
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Testing for the serial sequence of source documents is an application control (input control), not a general control. General controls focus on the environment, such as segregation of duties or access logs.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

____________ are a set of computer programmes, which are designed to perform certain supporting operations.

  1. operating system

  2. utility programmes

  3. application software

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

Utility programs are specialized software designed to perform maintenance and supporting operations for the computer system.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

__________ are user oriented programmes designed and developed for performing certain specified tasks.

  1. Operating system

  2. language processors

  3. utility programmes

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

Application software consists of programs developed to help the user perform specific tasks, such as word processing or accounting.

Multiple choice elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

_____________ are set of programmes which control internal functions.

  1. operating system

  2. application software

  3. system&nbsp;<span>software</span>

  4. connectivity&nbsp;<span>software</span>
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

System software, such as the operating system, is responsible for controlling the internal functions and hardware of the computer.