Deck 2: Exploring Computerized Accounting Systems and Software

Question 1

When different accounts are clubbed on the basis of some common characteristics that are shared by them, the concept is known as_______.

A)Asset
B)Liability
C)Income
D)Grouping

Answer 1

Grouping

Question 2

Most organisations use __________ for coding their accounts.

A)Block code
B)Block number
C)Block group
D)Block section

Answer 2

Block code

Question 3

Computers can be used in accounting in different number of ways:

A)Utility in batch processing
B)Utility in Online/Interactive Processing
C)Utility in Wage/Payroll System
D)All of the above

Answer 3

All of the above

Question 4

Such systems also generate reports which allow the accounting professionals to have a proper view of different transactions in a comprehensive manner.

A)Enterprise Resource Planning software
B)Pre-packaged accounting software
C)Spreadsheet software
D)Customised accounting packages

Question 5

This software is a package which is used for managing the entire organisation in a comprehensive.

A)Enterprise Resource Planning software
B)Pre-packaged accounting software
C)Spreadsheet software
D)Customised accounting packages

Question 6

The individual field in the sheet is known as a _________.

A)Row
B)Cell
C)Column
D)Group

Question 7

Such kind of software offers various functionalities such as cell content, pivot table, formulas and macros.

A)Enterprise Resource Planning software
B)Pre-packaged accounting software
C)Spreadsheet software
D)Customised accounting packages

Question 8

The software may also allow for graphical rendering of data, which is useful for carryingout analysis.

A)Enterprise Resource Planning software
B)Spreadsheet software
C)Pre-packaged accounting software
D)Customised accounting packages

Question 9

This is the kind of software which is specifically designed for meeting the requirements ofa particular business.

A)Enterprise Resource Planning software
B)Customised accounting packages
C)Pre-packaged accounting software
D)Spreadsheet software

Question 10

The components of Computerised Accounting System are :

A)Data, Report, Ledger, Hardware, Software
B)Data, People, Procedure, Hardware, Software
C)People, Procedure, Ledger, Data, Chart of Accounts
D)Data, Coding, Procedure, Rules, Output

Question 11

The Computerised Accounting System refers to :

A)Printing of Balance Sheet and Profit and Loss Accounts using computer
B)Processing of accounting transaction through computer and produce records and reports
C)Processing of accounting related data and printing reports
D)None of the above

Question 12

The components of Computerised Accounting System refers to :

A)Business transactions are analysed, transactions recorded, prepare trial balance, preparation of balance sheet and profit and loss account
B)From data entry to preparation of final statements
C)Transformation of manual accounting system to CAS
D)None of the above

Question 13

The CAS should be

A)Simple and integrated, transparent, accurate, scalability, reliability
B)Complex, Accurate, Transparent, Faster to work
C)Able to transform the manual accounting system to computerised accounting system
D)None of the above.

Question 14

A computer is an electric device

A)True
B)False
C)none
D)all

Question 15

Control unit works as ___________ of the computer.

A)Monitor
B)Brain
C)Component
D)Part

Question 16

Accounting standards issued by ICAI are mandatory in India.

A)True
B)False
C)none
D)all

Question 17

Computer Accounting System is used for recording the financial transaction.

A)True
B)False
C)none
D)all

Question 18

Which of the following is true statement for computerised accounting system?
A. the computer accounting system is based on the concept of database.
B. Computer accounting system does not away with the concept of creating and maintaining journals, ledger etc.

A)Only a
B)Only b
C)Both a and b
D)None of the above

Question 19

Opening an account in a computerized accounting system is entirely different from opening an account in a manual system.

A)True
B)False
C)none
D)all

Question 20

Creation of company is the first step in Computerized Accounting process.

A)True
B)False
C)none
D)all

Question 21

Application softwares

A)Can operate on its own
B)Cannot operate without Operating Software
C)Both a and b
D)None of these

Question 22

Accounting software requires

A)Transactions to be entered once
B)Transactions to be entered at each stage i.e. recording and posting into accounts
C)Both a and b
D)None of the above

Question 23

Accounting softwares available are

A)Readymade or off-the-shelf software
B)Tailor-made software
C)Customised Software
D)All of these

Question 24

Which of the following software is not operating software?

A)MS DOS
B)Windows XP
C)MS Word
D)None of these