Hello aspirant,
Financial accounting is a type of accounting that keeps track of a business's financial activities. The transactions are documented, summarised, and presented in a financial report or financial statement, such as an income statement or a balance sheet, using specified rules.
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Question : What is/are the applications of computerised accounting systems?
Option 1: To maintain Accounting Record of large organisations is Possible
Option 2: Separate Payroll Accounting is Possible
Option 3: Automation of All Financial Accounts
Option 4: All of the above
Question : Statement 1: In management accounting, data from cost accounting and financial accounting are both used. Statement 2: Therefore, a suitable system is required to combine cost accounts and financial accounts.
Option 1: Both the statements are true
Option 2: Both the statements are false
Option 3: Statement 1 is true and statement 2 is false
Option 4: Statement 1 is false and statement 2 is true
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