Tag: accounting software

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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

An organisation is a collection of interdependent decision-making units that exist to pursue organisational objectives.

  1. True

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

An organisation is a collection of interdependent decision-making units that exists to pursue organisational objectives. Every organisation accepts inputs and transforms them into outputs. All organisational system pursue certain objectives through a process of resource allocation, which is accomplish through the process of managerial 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

_____________ is used the most common form of information system.

  1. Management Informal System (MIS)

  2. Management Information System (MIS)

  3. Management Input System (MIS)

  4. Management Internal System (MIS)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Management Information System (MIS) is used the most common form of information system. A management information system is a system that provides the information necessary to take decision and manage an organisation effectively.

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

With the increasing use of information systems in organisations, _______ have started playing a vital role in supporting business operations.

  1. transaction processing systems (TPS)

  2. central processing unit (CPU)

  3. arithmetic and logic unit (ALU)

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

Every medium sized to large organisation has a well established information system that is meant to generate the information required for decision-making. With the increasing use of information system in organisations, Transaction processing systems (TPS) have started playing a vital role in supporting business operations.

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. Control unit

  2. Central unit

  3. Memory unit

  4. Arithmetic and logic unit
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Arithmetic and logic unit is responsible for performing all the arithmetic computations such as addition, subtraction, division, multiplication and exponentiation. In addition to this it also performs logical operations involving comparisons among variables and data items.

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

A large number of devices are now available to automate the input process for a TPS.

  1. True

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

Information Technology (IT) follows the GIGO principle (Garbage in-Garbage out), it is necessary that input to the IT-based information system is accurate, complete and authorised. This is a achieved by automated by automating the input, A large number of devices are now available to automate the input process for a TPS.

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

A simple computerised accounting system accepts the complete transaction data as output.

  1. True

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

A simple computerised accounting system accepts the complete transaction data as input; stores such data in computer storage media (say hard disk) and retrieves the accounting data for processing as and when required for generating an accounting report, as output. 

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

MIS is viewed and used by which of the following levels by management?

  1. Operational, Tactical, Static

  2. Operational, Factual, Strategic

  3. Operational, Tactical, Strategic

  4. Operational, Tactical, Sequencial
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

MIS is supportive of the institution's long-term strategic goals and objectives. MIS is viewed and used at many levels by management: Operational, Tactical and Strategic.

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 represent examples of general, application and user control activities, respectively, in the computer environment?

  1. Control over access to programs, computer exception. reports, and manual checks of computer output.

  2. Manual checks of computer output, control over access to programs and computer exception reports.

  3. Computer exception reports, control over access to programs and manual checks of computer output.

  4. Manual checks of computer output, computer exception reports and control over access to programs
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

General controls relate to the environment (access to programs), application controls relate to specific processing (exception reports), and user controls involve manual verification of results.

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

Accounting information system identifies, collects, processes, and communicates economic information about an entity to a wide variety of users. 

  1. True

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

Accounting Information System (AIS) identifies, collects, processes, and communicates economic information about an entity to a wide variety of users. Such information is organised in a manner that correct decisions can be based on it.