Correct Answer: Rs 3,600

Solution : Answer = Rs 3,600

Profit= $36000 \times \frac{2}{5} \times \frac{3}{12}$= 1800 × 2= 3600.
Hence, the correct option is 3.

Correct Answer: Processing of accounting transaction through computer and produce reports and records

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 2.

Correct Answer: Tailor-made Software

Solution : Software that has been created especially for one person, one business, or one organisation is referred to as tailored software, also known as bespoke software, customised software, or personalised applications. There are no restrictions on what the programme may do because it was created just for your business.

Hence the correct answer is option 3.

Correct Answer: A logical sequence of actions to perform a task

Solution : Sequence means a logical sequence of actions to perform a task. Hence, the correct option is 1.

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: All of the above

Solution : Following are the features of computerised accounting environment:
1. Simple and Integrated,
2. Accuracy & Speed,
3. Scalability,
4. Instant Reporting, and
5. Security.
Hence, the correct option is 4.

Correct Answer: Both Assertion A and reason R are correct but the reason R is the correct explanation of Assertion A 

Solution : Answer = Both Assertion A and reason R are correct but reason R is the correct explanation of Assertion A 

It may become invalid to compare financial accounts from various accounting years due to a shift in the level of prices. This is a result of accounting records failing to take changing currency values into account. Since accounting accounts are created at historical cost, changes in the worth of money are not taken into account.
Hence, the correct option is 2.

Correct Answer: Both 1 and 2

Solution : Answer = Both 1 and 2
AS-3 has been mandatory for Enterprises whose equity or debt securities are listed on a recognised inventory exchange in India, and All other commercial, industrial and business enterprises, whose turnover for the accounting period exceeds Rs. 50 Crores.
Hence, the correct option is 3.

Correct Answer: Universal and flexible
   

Solution : The correct answer is (b) Universal and flexible

The principles of management are considered universal in the sense that they are applicable to various organizations and industries. While the specific application of management principles may vary based on the context and organizational needs, the fundamental principles remain relevant across different settings. These principles provide a framework and guidelines for effective management practices, such as planning, organizing, leading, and controlling.

Furthermore, the principles of management are also flexible, meaning they can be adapted and customized to suit the unique requirements and challenges of each organization. Managers can apply and modify these principles based on the specific circumstances, goals, and resources of their organization.

Correct Answer: When the entire output is sold in an accounting year.

Solution :