Question : Accounting reports are which form of accounting information?
Option 1: Physical
Option 2: Economic
Option 3: Mental
Option 4: None of these
Correct Answer: Physical
Solution : The accounting reports are the physical representation of accounting information. They act as a summary of all the relevant facts and information related to a particular event. The accounting reports are essentially the final or end reports that show how an organisation performed during an accounting period.
Hence the correct answer is option 1
Question : Cash Flow statement is based on -
Option 1: Accrual basis of accounting
Option 2: Cash basis of accounting
Option 3: Mixed basis of accounting
Question : The computerised accounting system refers to -
Option 1: Printing of Balance sheet and Profit and loss accounts using computer
Option 2: Processing of accounting transaction through computer and produce reports and records
Option 3: Processing of accounting related data and priting reports
Option 4: None of the above
Question : Computerized accounting system refers to the processing of accounting transactions through the use of ______.
Option 1: hardware
Option 2: software
Option 3: both 1 and 2
Option 4: none of these
Question : What are the components of accounting information system?
Option 1: Cash sub system
Option 2: Tax Accounting System
Option 3: Final Account Sub-system
Option 4: All of these
Question : Under Computerised Accounting System, financial statements are generated from the _________ itself.
Option 1: software
Option 2: manual
Option 3: Both 1 and 2
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile