Question : When, Value of output= Sales?

Option 1: When the entire output is sold in an accounting year.

Option 2: When the entire output is sold in the previous year.

Option 3: When the entire output is sold in the next year

Option 4: When the entire output is unsold.

Question : In National income accounting, GVA stands for:

Option 1: general vesting added

Option 2: general visited account

Option 3: gross value accounting

Option 4: gross value added

Question : What is chart of accounts?

Option 1: provides an index of every account in an accounting system

Option 2: provides a way of every account in non-accounting system

Option 3: Both 1 and 2

Option 4: None of these

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 : The components of computerised accounting system are -

Option 1: Data, Report, Ledger, software, Hardware

Option 2: Software, Hardware, People

Option 3: Data, Coding, Procedure, Objective, Output

Option 4: People, Procedure, Hard ware, software

Question : An accounting information system processes the financial transactions and events based on -

Option 1: Governing Principles

Option 2: Management Principles

Option 3: Accepted Principles

Option 4: Generally Accepted Accounting Principles