Correct Answer: Accounting ratio

Solution : Answer = Accounting ratio

The accounting ratio may be expressed as an arithmetical relationship between two accounting variables. The term accounting ratio is used to describe significant relationships which exist between figures shown in a Balance Sheet, in a Statement of Profit and Loss, in a budgetary control system.
Hence, the correct option is 2.

Correct Answer: To the total of assets/total of equity and liabilities

Solution : Answer = To the total of assets/total of equity and liabilities

Common-size Balance Sheet shows the percentage relation of each asset/equity and liability to the total of assets/total of equity and liabilities.
Hence, the correct option is 3.

Correct Answer: The raw fact (as input) for any business application

Solution : People means users. A logical sequence of actions to perform a task is a procedure. Computer, associated peripherals, and their network are called hardware. The raw fact (as input) for any business application is called data. Hence the correct option is 3.

Correct Answer: All of the above

Solution : Following are the features computerised accounting system:
1. Data Security,
2. Improved Reporting,
3. Accuracy and Speed,
4. Scalability,
5. Quick Decision Making, and
6. Advanced Features.
Hence, the correct option is 4.

Correct Answer: BADC

Solution : The second option is the correct answer.

It starts with the introduction of the narrator's role as a junior clerk before becoming an accounts officer (B). The paragraph then provides additional context by revealing that the narrator began their career as a peon at a small firm (A).As the narrative unfolds, it mentions the gradual improvement in qualifications (D) and it concludes by highlighting the narrator's efforts in learning typing, accounting, and eventually graduating (C).

Therefore, the correct answer is BADC.

Correct Answer: Transparency and control

Solution : With computerized accounting, the organisation will have greater transparency for day-to-day business operations and access to vital information. This feature is known as transparency and control. Hence, the correct option is 1.

Correct Answer: The raw fact (as input) for any business application

Solution : Under computerized accounting, data means the raw fact (as input) for any business application. Hence, the correct option is 3.

Correct Answer: All of the above

Solution : Following are the salient features of Computerized Accounting System:
1. Simple and integrated,
2. Transparency and control,
3. Accuracy and Speed,
4. Scalability.
Hence, the correct option is 4.

Correct Answer: Both the statements are true

Solution : By integrating and automating all business processes, computerised accounting system benefits all firms.
These tasks could include production, inventory management, sales, and financing. Additionally, it makes it easier to organise precise and current business data in an approachable way. Hence, the correct option is 1.

Correct Answer: Generally Accepted Accounting Principles

Solution : In order to provide reports that meet user needs, computerised accounting systems handle financial transactions and events in accordance with generally accepted accounting principles (GAAP).

Hence the correct answer is option 4.