Tag: introduction to computer and accounting information system

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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

Accounting software is used to perform the function of ________.

  1. auditing

  2. accounting

  3. taxation

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Accounting software is specifically designed to automate and manage the recording, processing, and reporting of accounting transactions.

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 detailed process for recovering information or an IT system in the event of a catastrophic disaster such as a fire or flood?

  1. Disaster recovery plan

  2. Hot site

  3. Cold site

  4. Disaster recovery cost curve
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A disaster recovery plan is a structured approach that describes how an organization can quickly resume work after an unplanned incident.

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

Accounting is concerned with recording of ____________ transactions and events.

  1. social

  2. legal

  3. financial

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

Accounting is defined as the process of identifying, measuring, and communicating financial information about an economic entity.

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

When would an auditor typically not perform additional tests of a computer systems controls?

  1. When the assessed level of control risk is at a minimum.

  2. When computer controls appear to be strong and risk is at a minimum.

  3. When controls appear to be weak.

  4. When inherent risk is at a maximum.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

If controls are weak, an auditor typically performs substantive testing rather than relying on the controls, as testing weak controls is inefficient and ineffective.

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

When would "auditing around the computer" be appropriate?

  1. When controls over the computer system are strong.

  2. When controls over the computer system are non-existent.

  3. When controls over the computer system are adequate.

  4. It is never appropriate to audit around the computer
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Auditing around the computer involves checking inputs and outputs without examining the internal processing logic, which is appropriate when the system lacks internal controls.

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