Tag: overview of computerised accounting system

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

___________ occurs to ensure that the transaction in terms of delivery of money by ATM has been completed.

  1. Processing

  2. Revalidation

  3. Storage

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

Revalidation in the context of ATM transactions ensures that the requested action (dispensing money) has been successfully completed and recorded by the system.

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

____________ is responsible for performing all the arithmetic computations such as addition, subtraction, division, multiplication and exponentiation.

  1. Memory unit

  2. Control unit

  3. Arithmetic and Logic unit

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

The Arithmetic and Logic Unit (ALU) is the part of the CPU responsible for performing all mathematical calculations and logical operations.

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 are components of transaction processing system?

  1. Input

  2. Processing

  3. Output

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

A transaction processing system (TPS) collects, stores, modifies, and retrieves the transactions of an organization. These steps involve input, processing, and output.

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

______________ ensures the accuracy and reliability of input data by comparing the same with some predetermined standards or known data.

  1. Data Entry

  2. Data Validation

  3. Processing and Revalidation

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

Data validation is the process of ensuring that data is clean, correct, and useful. It involves checking input against predefined rules or standards to prevent errors.

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

___________________ provides online outcome in the form of information and reports without time lag between the transaction and its processing.

  1. Processing

  2. Batch Processing

  3. Real-Time Processing

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

Real-time processing systems process data immediately as it arrives, providing near-instantaneous output without the delay associated with batch processing.

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

Central processing unit has ________ main units.

  1. two

  2. three

  3. four

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

The three logical units that make up the central processing unit are the arithmetic and logic unit (ALU), main storage, and the control unit. Main storage retains active programs and data. It is relatively expensive, so secondary storage is used to store programs and data until they are needed in main storage.

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

Under ___________, reports can be prepared on the basis of the required information content according to decision usefulness of the report.

  1. storage

  2. information

  3. reporting

  4. data entry
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Reporting is the phase in an information system where data is organized and presented in a format useful for decision-making.

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

Transaction Processing Systems (TPS) are among the earliest computerised systems catering to the requirements of _______ business enterprise.

  1. small

  2. large

  3. medium

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

Transaction Processing Systems were originally developed to handle the high volume of data generated by large business enterprises, which required automated record-keeping.

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

Under ____________, processed actions which culminate into financial transaction data  describe the withdrawal of money by a particular customer.

  1. data entry

  2. storage

  3. information

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

Storage involves keeping transaction data securely. In the context of an ATM, the record of the withdrawal is stored in the database for future reference and reporting.

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 CAATs allow fictitious transactions planted by the auditor to be processed along with real ones on client's system?

  1. Integrated test facility

  2. Test data approach

  3. Generalised audit software

  4. Parallel simulation
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Integrated Test Facility (ITF) involves creating a dummy entity (like a department or branch) within the client's system. Auditors then process test transactions through this dummy entity alongside real transactions to verify system integrity.