Deck 1: Exploring Features and Advantages of Computerized Accounting Systems

Question 1

What are the features of a computerized accounting system?

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

Answer 1

It generates a print-out of purchase and sale invoices

Question 2

What is not an advantage of a computerized accounting system.

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

Answer 2

Reduced training cost

Question 3

What are the types of a computerized accounting system?

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

Answer 3

All of the above

Question 4

What are the advantages of tailor-made software?

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

Question 5

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

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

Question 6

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

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

Question 7

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 :

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

Question 8

What are the features of computerized accounting software?

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

Question 9

The ……….of a vendor is also an important factor to consider while opting for a computerized accounting software

A)Level of profit
B)Honesty
C)Capability
D)None of the above

Question 10

Software must be easy to…….

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

Question 11

Acounting Packages are developed on the basis of

A)Accounting concepts
B)Accounting conventions
C)Both Accounting concepts and Conventions
D)None of the above

Question 12

What type of Software is an Accounting Package?

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

Question 13

The components of computerised accounting system are

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

Question 14

Grouping of Accounts means the classification of data from:

A)Assets, Capital, and Liabilities
B)Assets, Capital, Liabilities, Revenues & Expenses
C)Assets, Owners equity, Revenue & Expenses
D)Capital, Liabilities, Revenues, & Expenses

Question 15

Codification of Accounts required for the purpose of:

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 16

Method of codification should be

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 17

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

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

Question 18

Pick the odd one out

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

Question 19

Which among the following is an example of mnemonic codes?

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

Question 20

Which among the following deals with generation of reports that are vital for managementdecision making?

A)Costing sub system
B)Pay Roll Accounting Sub system
C)Budget Sub System
D)Management Information System

Question 21

The need of codification is

A)Easy to process data
B)Keeping proper records
C)The generation of block codes
D)The encryption of data

Question 22

Choose the correct pair

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 23

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

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

Question 24

Following businesses generally require customised software:

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

Question 25

Features of computerised accounting system

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