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
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.
Question : What ate the reports that computerized accounting software takes into consideration as input through Accounting Software?
Option 1: Day books/journals
Option 2: ledger
Option 3: trial balance, position statement (Balance Sheet) and Statement of Profit and Loss (Profit and Loss Account)
Option 4: All of the above
Question : Modern computerised accounting system is based on the concept of database which is implemented using -
Option 1: Management Information System
Option 2: Database Management System
Option 3: Marketing Information System
Option 4: Accounting Information System
Question : What are the features of computerised accounting software?
Option 1: storage of accounting data and on-line input
Option 2: instantly produces different reports
Option 3: group different account
Question : ____________ shows the financial performance, i.e., the result of business operations during an accounting period and is also known as an Income Statement.
Option 1: Profit and loss account
Option 2: Balance sheet
Option 3: Manufacturing account
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