Question 1

The components of computerised accounting system are

Accepted Answer

A) Data, Report, Ledger, software, Hardware 
B) Software, Hardware, People, Procedure, Data 
C) Data, Coding, Procedure, Objective, Output 
D) People, Procedure, Hard ware, software 
A) Data, Report, Ledger, software, Hardware 
B) Software, Hardware, People, Procedure, Data 
C) Data, Coding, Procedure, Objective, Output 
D) People, Procedure, Hard ware, software B

Question 2

What are the factors to be considered while source accounting software?

Accepted Answer

A) Flexibility 
B) Adaptability 
C) Interest of management 
D) Both a & b 
A) Flexibility 
B) Adaptability 
C) Interest of management 
D) Both a & b D

Question 3

Software must be easy to…….

Accepted Answer

A) Install 
B) Adapt 
C) Understand 
D) All of the above 
A) Install 
B) Adapt 
C) Understand 
D) All of the above D

Question 4

Codification of Accounts required for the purpose of:

Accepted Answer

A) Hierarchical relationship between groups and components 
B) Data processing faster and preparing of final accounts 
C) Keeping data and information secured 
D) None of the above 
A) Hierarchical relationship between groups and components 
B) Data processing faster and preparing of final accounts 
C) Keeping data and information secured 
D) None of the above

Question 5

What are the advantages of tailor-made software?

Accepted Answer

A) These are ready made softwares 
B) Low cost 
C) High secrecy of data 
D) None of the above 
A) These are ready made softwares 
B) Low cost 
C) High secrecy of data 
D) None of the above

Question 6

Pick the odd one out

Accepted Answer

A) Password security 
B) Data Audit 
C) Data Bank 
D) Data vault 
A) Password security 
B) Data Audit 
C) Data Bank 
D) Data vault

Question 7

Features of computerised accounting system

Accepted Answer

A) Complete visibility 
B) Fast, powerful, simple and integrated 
C) Accuracy and speed 
D) All of the above 
A) Complete visibility 
B) Fast, powerful, simple and integrated 
C) Accuracy and speed 
D) All of the above

Question 8

Final account subsystem in Accounting Information System (AIS) deals with

Accepted Answer

A) Preparation of budgets 
B) Preparation of Pay Roll 
C) Preparation of Final Accounts 
D) None of the above 
A) Preparation of budgets 
B) Preparation of Pay Roll 
C) Preparation of Final Accounts 
D) None of the above

Question 9

What are the features of computerized accounting software?

Accepted Answer

A) storage of accounting data and on-line input 
B) instantly produces different reports 
C) group different account 
D) All of the above 
A) storage of accounting data and on-line input 
B) instantly produces different reports 
C) group different account 
D) All of the above

Question 10

Which among the following is an example of mnemonic codes?

Accepted Answer

A) AS03, AS04, AS05 
B) 1925, 1926, 1927, 1928 
C) ACC, ECO, ENG, MAL 
D) 001-100, 101-200, 201-300, 301-400 
A) AS03, AS04, AS05 
B) 1925, 1926, 1927, 1928 
C) ACC, ECO, ENG, MAL 
D) 001-100, 101-200, 201-300, 301-400

Question 11

It refers to the system of recording, organising, summarising, analysing, interpreting andcommunicating the financial data of a business.

Accepted Answer

A) Manual Accounting 
B) Computerised Accounting 
C) Auditing 
D) Human Resource Accounting 
A) Manual Accounting 
B) Computerised Accounting 
C) Auditing 
D) Human Resource Accounting

Question 12

Method of codification should be

Accepted Answer

A) Such that it leads to grouping of accounts 
B) An identification mark 
C) Easy to understand and leads to grouping of accounts 
D) None of the above 
A) Such that it leads to grouping of accounts 
B) An identification mark 
C) Easy to understand and leads to grouping of accounts 
D) None of the above

Question 13

What are the types of a computerized accounting system?

Accepted Answer

A) Ready to use Software 
B) Customized Software 
C) Tailor-made Software 
D) All of the above 
A) Ready to use Software 
B) Customized Software 
C) Tailor-made Software 
D) All of the above

Question 14

Choose the correct pair

Accepted Answer

A) Cash and Bank sub system - Deals with receipts and payments of cash 
B) Inventory subsystem - deals with recording of sales 
C) Payroll Accounting sub system - deals with the preparation of final accounts 
D) Accounts receivable sub system - deals with expenses 
A) Cash and Bank sub system - Deals with receipts and payments of cash 
B) Inventory subsystem - deals with recording of sales 
C) Payroll Accounting sub system - deals with the preparation of final accounts 
D) Accounts receivable sub system - deals with expenses

Question 15

What is not an advantage of a computerized accounting system.

Accepted Answer

A) High Speed 
B) High Reliability 
C) Reduced training cost 
D) None of the above 
A) High Speed 
B) High Reliability 
C) Reduced training cost 
D) None of the above

Question 16

Following businesses generally require customised software:

Accepted Answer

A) Banking 
B) Medical 
C) Retail or point of Sale 
D) All of the above 
A) Banking 
B) Medical 
C) Retail or point of Sale 
D) All of the above

Question 17

If an organisation want to develop a computerised accounting system according to its need as the business of organisation is complex. Which software it should opt for :

Accepted Answer

A) Ready to use Software 
B) Customized Software 
C) Tailor-made Software 
D) Any of above 
A) Ready to use Software 
B) Customized Software 
C) Tailor-made Software 
D) Any of above

Question 18

What type of Software is an Accounting Package?

Accepted Answer

A) System Software 
B) Application Software 
C) Utility Software 
D) Basic 
A) System Software 
B) Application Software 
C) Utility Software 
D) Basic

Question 19

Ram want to install a computerised accounting system but his budget is low. Whichsoftware he should opt for

Accepted Answer

A) Ready to use Software 
B) Customized Software 
C) Tailor-made Software 
D) He can buy any of above, all cost same 
A) Ready to use Software 
B) Customized Software 
C) Tailor-made Software 
D) He can buy any of above, all cost same

Question 20

What are the features of a computerized accounting system?

Accepted Answer

A) It facilitates off-line input and storage of accounting data 
B) This system never fails 
C) It generates a print-out of purchase and sale invoices 
D) None of the above 
A) It facilitates off-line input and storage of accounting data 
B) This system never fails 
C) It generates a print-out of purchase and sale invoices 
D) None of the above

Exam 1: Exploring Features and Advantages of Computerized Accounting Systems

The components of computerised accounting system are

What are the factors to be considered while source accounting software?

Software must be easy to…….

Codification of Accounts required for the purpose of:

What are the advantages of tailor-made software?

Pick the odd one out

Features of computerised accounting system

Final account subsystem in Accounting Information System (AIS) deals with

What are the features of computerized accounting software?

Which among the following is an example of mnemonic codes?

It refers to the system of recording, organising, summarising, analysing, interpreting andcommunicating the financial data of a business.

Method of codification should be

What are the types of a computerized accounting system?

Choose the correct pair

What is not an advantage of a computerized accounting system.

Following businesses generally require customised software:

If an organisation want to develop a computerised accounting system according to its need as the business of organisation is complex. Which software it should opt for :

What type of Software is an Accounting Package?

Ram want to install a computerised accounting system but his budget is low. Whichsoftware he should opt for

What are the features of a computerized accounting system?

Exploring Computerized Accounting Systems and Software

Non-Profit Organizations and Financial Statements

Not-For-Profit Organizations and Financial Accounts

Goodwill and Intangible Assets

Valuation and Calculation of Goodwill

Understanding the Concepts of Lessor, Lessee, and Minimum Rent

Royalty Accounting and Partnership Firms

Accounting

Accounting and Corporate Finance

Accounting and Finance

Depreciation, Share Capital, and Forfeiture of Shares

Financial Statements and Accounting Principles

Insurance Provision and Accounting Standards

Formation and Capital Structure of Public Companies

Share Forfeiture, Debentures, and Sinking Fund

Financial Accounting and Banking

Insurance and General Insurance Companies: Understanding Terms and Concepts

Single Entry System and Company Ownership

Share Capital and Shareholders in a Company

Debentures, Bonds, and Shares

Accounting Concepts and Principles

Accounting Concepts and Practices

Financial Statements and Accounting for Nonprofit Organizations

Hire Purchase, Sale of Goods, and Bookkeeping

Accounting and Bookkeeping

Allocation of Selling Expenses Among Departments Based on Sales

Accounting Concepts and Systems

Accounting and Financial Transactions

Ac Types, Balances, and Entries

Errors, Adjustments, and Expenditures in Accounting

Capitalization, Errors, Cash Book, and Types of Accounts

Revenue Recognition and Expenditure Classification

Depreciation and Asset Provision

Accounting Adjustments and Financial Statement Treatment

Balance Sheet and Profit Loss Account

Accounting and Financial Management

Bills of Exchange, Consignment, and Partnership

Accounting Standards and Joint Ventures

Accounting and Financial Management : Part A

Accounting and Financial Management : Part B

Accounting: Interest, Bill, Partnership Agreement,insurance, Contingent Liability, and Business Resources

Fundamentals of Accounting: Objectives, Concepts, and Principles

Depreciation and Reserves: Understanding the Accounting Concepts

Underwriting and Creditor Questions in Company Affairs

Amalgamation, Llp, and Single Entry System

Single Entry System and Profit Calculation

Accounting for Receipts, Payments, Income, and Expenditure in Consignment and Joint Venture Businesses

Accounting for Co-Venturers, Consignments, and Branches

Accounting Arrangements and Operations for Branches

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