Tag: accounting systems - manual and computerized

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Questions Related to accounting systems - manual and computerized

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

Which of the following is not an advantage of a computerized 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.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Computerized systems often lack the visible, step-by-step audit trail found in manual systems, as transactions are processed electronically, which is a disadvantage.

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

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:

  1. 42.50

  2. 43.50

  3. 47.00

  4. 49.00
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let P = 1000. A's commission = 0.05 * (1000 - A - B). B's commission = 0.10 * (1000 - A - B). Solving these simultaneous equations leads to A = 43.50 (approx).

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

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

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Training costs are an implementation expense, not an operational advantage of the system itself.

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

_________ is not an advantage of computerised accounting system.

  1. Speed

  2. Cost of Training

  3. Accuracy

  4. Up-to-Date Information
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

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

  1. Front-end Interface

  2. Reporting System

  3. Back-end Database

  4. Data Processing
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

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

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

  1. manual

  2. computerised

  3. Both (a) and (b)

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