Question : Statement 1: Cash and Bank Sub-system deals with the receipt and payment of cash both physical cash and electronic fund transfer.
Statement 2: Electronic fund transfer takes place without having the physical entry or exit of cash by using credit cards or electronic banking.

Option 1: Both statements are correct

Option 2: Both statements are incorrect

Option 3: Statement 1 is correct and statement 2 is incorrect

Option 4: Statement 1 is incorrect and statement 2 is correct

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 : Receipts and Payments Account of a non-profit organisation is prepared on the basis of:

Option 1: Accrual Basis

Option 2: Cash Basis

Option 3: Both Cash and Accrual

Option 4: None of these

Question : CAS (Computerized Accounting System) is designed to:

Option 1: automate

Option 2: integrate

Option 3: both 1 and 2

Option 4: None of these

Question : On which basis of accounting, Receipts and Payment account is prepared in case of Non Profit Organisation?

Option 1: Profit Basis 

Option 2: Accural Basis

Option 3: Cash basis 

Option 4: None of these