Tag: application of computerised accounting 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 not used to implement a computerised accounting system. 

  1. True

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

Accounting software is used to implement a computerised accounting system. The computer accounting system is based on the concepts of database.

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 sequence of steps is used by the TPS in processing a transaction? 

  1. Data entry, Data validation, Processing and revalidation, Storage, Information, Reporting

  2. Data analysis, Data validation, Processing and revalidation, Storage, Information, Reporting

  3. Data entry, Data validation, Storage, Information, Reporting, Processing and revalidation

  4. Data entry, Data validation, Processing and revalidation, Information, Reporting, Storage
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

When the purchase department purchases materials from a supplier, an external transaction take place. The scope of financial accounting is confined to external transactions only. TPS involves following steps in processing a transaction: Data entry, Data validation, Processing and revalidation, Storage, Information, Reporting.

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 statements is not true of the test data approach in a test of computerised accounting system?

  1. Test data tests only those controls which the auditor wishes to rely

  2. Test data should consist of data related to all controls prevalent in the organization

  3. The result of test data indicates that all the application and general controls are functioning properly

  4. Test data processed by the client's computer programme under the auditor's control
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The test data approach involves using a sample of data to test specific controls. It is not intended to verify that all application and general controls are functioning properly, as it only tests the specific logic covered by the test data.

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

Computers are dumb devices with ________________ as they cannot visualize and think what exactly to do under a particular situation. 

  1. lack of commonsense

  2. zero IQ

  3. lack of decision-making

  4. both a and b
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Computers are often described as having 'zero IQ' because they cannot perform tasks outside of their programmed instructions or exercise human-like judgment.

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 a limitation of a computer system?

  1. Lack of Commonsense

  2. Zero IQ

  3. Reliability

  4. Lack of Decision-making
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Reliability is a major strength of computer systems, not a limitation. Lack of common sense, zero IQ, and lack of decision-making are all recognized limitations.

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

_____________ is a complex process involving information, knowledge, intelligence, wisdom and ability to judge.

  1. Commonsense

  2. Decision-making

  3. Zero IQ

  4. Both a and b
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Decision-making is a high-level cognitive process that requires human judgment, experience, and wisdom, which computers currently lack.

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

___________ controls various input devices which are used for entering data into the computer system.

  1. Input unit

  2. Output unit

  3. Hardware

  4. Central processing ystem
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The input unit is the part of the computer system responsible for accepting data and instructions from the user and converting them into a machine-readable format.

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

_________________ is where computer systems as on date do not possess any common sense because no full-proof algorithm is designed to programme common sense.

  1. Lack of Commonsense

  2. Zero IQ

  3. Lack of Decision-making

  4. Both b and c
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The inability of computers to handle situations requiring common sense is due to the fact that common sense is based on vast, unstructured human experience that is difficult to codify into algorithms.

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 features of computerised accounting system?

  1. Online input and storage of accounting data.

  2. Printout of purchase and sales invoice.

  3. Grouping of accounts is done from the very beginning.

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

Computerized accounting systems automate data entry, storage, and reporting. They allow for efficient invoice generation and structured account grouping from the start, making all listed options correct.

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 equation does the chart of accounts tie-in with?

  1. Accounting equation

  2. Wave equation

  3. The origin of complex numbers

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A chart of accounts (COA) is a financial organizational tool that provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue and expense.