Tag: computerised accounting system

Questions Related to computerised accounting system

Which of the following is not an advantage of a computerized accounting system?

elements of accounts computerised accounting system accounting systems - manual and computerized difference between manual and computerised accounting meaning and importance of computerised accounting system

  1. Computers process transaction uniformly.

  2. Computers help alleviate human errors.

  3. Computers can process many transactions quickly.

  4. Computers leave a thorough audit trail which can be easily followed.

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Correct Option: D

A, the Works Manager, gets 5% commission of net

profits after charging his commission and Bs commission. B, the General Manager,

gets 10% commission on the net profits after charging his commission and As

commission. If the profit before charging commission of A and B is 1,000, the commission of A will be:

elements of accounts computerised accounting system accounting systems - manual and computerized difference between manual and computerised accounting meaning and importance of computerised accounting system

  1. 42.50

  2. 43.50

  3. 47.00

  4. 49.00

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Correct Option: B

Which of the following is not an advantage of introducing computerized accounting systems?

elements of accounts computerised accounting system accounting systems - manual and computerized difference between manual and computerised accounting meaning and importance of computerised accounting system

  1. Increased job satisfaction

  2. Increased accuracy of entries

  3. Time saved through speed of inputs

  4. Costs involved in training staff to use system

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Correct Option: D

_________ is not an advantage of computerised accounting system.

elements of accounts computerised accounting system accounting systems - manual and computerized difference between manual and computerised accounting meaning and importance of computerised accounting system

  1. Speed

  2. Cost of Training

  3. Accuracy

  4. Up-to-Date Information

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Correct Option: B
Explanation:

The advantages of computerised accounting system are speed, accuracy and up-to-date information, whereas cost of training is a limitation of computerised accounting system.

___________ is one of the four basic requirements under use of computers in any database oriented application, where an integrated set of objects constitute the report.

elements of accounts computerised accounting system accounting systems - manual and computerized difference between manual and computerised accounting meaning and importance of computerised accounting system

  1. Front-end Interface

  2. Reporting System

  3. Back-end Database

  4. Data Processing

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Correct Option: B
Explanation:

Steps involved in designing accounting reports :-

1.Definition of objectives 

2.Structure of the report 

3.Querying with the database

4.Finalizing the report 

Therefore Reporting System is an integrated set of objects that constitute the report.

The identification of transactions, based on application of accounting principles is common to _________ accounting system.

elements of accounts computerised accounting system accounting systems - manual and computerized difference between manual and computerised accounting meaning and importance of computerised accounting system

  1. manual

  2. computerised

  3. Both (a) and (b)

  4. None of the above

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Correct Option: C
Explanation:

Identifying is one of the activities in the context of comparison between manual and computerised accounting system. The identification of transactions, based on application of accounting principles is, common to both manual and computerised accounting system.