Computerised Accounting System Test 1

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Computerised Accounting System Test 1

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Weekly Quiz Competition

Question 1
1 / -0

Ready-to-Use accounting software is suited to_________ organisations.

A
conventional business

B
big firms

C
public ltd companies

D
none of the above
Question 2
1 / -0

_________ is not an advantage of computerised accounting system.

A
Speed

B
Cost of Training

C
Accuracy

D
Up-to-Date Information

Solution

The advantages of computerised accounting system are speed, accuracy and up-to-date information, whereas cost of training is a limitation of computerised accounting system.
Question 3
1 / -0

____________by definition, is the process of identifying, recording, classifying and summarising financial transactions to produce the financial reports for their ultimate analysis.

A
Cost accounting

B
Accounting

C
Management accounting

D
Financial accounting

Solution

Accounting, by definition, is the process of identifying, recording, classifying and summarising financial transactions to produce the financial reports for their ultimate analysis.
Question 4
1 / -0

Transactions lead to data duplication in __________ accounting system.

A
Computerised

B
Manual

C
Both manual and computerised

D
None of these

Solution

In a manual accounting system, transactions recorded in the books of original entry are further classified by posting into ledger accounts. This results in transaction data duplicity. In computerised accounting, no such data duplication is made to cause classification of transactions.
Question 5
1 / -0

The following is not a limitation of computerized accounting system________.

A
Staff Opposition

B
Disruption

C
Reliability

D
System Failure

Solution

The limitations of computerised accounting system are staff opposition, disruption and system failure, whereas reliability is and advantage of computerised accounting system. The main limitations emerge out of the environment in which the computerised accounting system is made to operate.
Question 6
1 / -0

Which of the following softwares are used for data processing?
(i) EXCEL (ii) ACCESS (iii) SPSS (iv) STAR (v) PASW.

A
(i), (ii), (iv) and (v)

B
(ii), (iii), (iv) and (v)

C
(iii) and (iv)

D
(i), (iii) and (iv)

Solution

SPSS, as the name suggests, is software for performing statistical procedures in the social sciences field. The major limitation of SPSS is that it cannot be used to analyze a very large data set.
Question 7
1 / -0

The computerised accounting system are ________.

A
Scalable

B
Less scalable

C
Highly scalable

D
None of the Above

Solution

In a computerized accounting system, the requirement of additional manpower is confined to data entry operators for storing additional vouchers. The marginal cost of processing additional transactions is almost negligible because of which the computerized accounting system is highly scalable.
Question 8
1 / -0

The recording of financial transactions through the books of original entries is followed in ________ accounting system.

A
Computerised

B
Manual

C
Both manual and computerised

D
None of these

Solution

The recording of financial transactions, in a manual accounting system is through books of original entries while the data content of such transactions is stored in a well-designed accounting database in the computerized accounting system.
Question 9
1 / -0

___________ is the basic requirement which consists a set of principles, coding and grouping structure of accounting.

A
Operating procedure

B
Accounting framework

C
Data processing

D
Back-end database

Solution

Every computerised accounting system has two basic requirements; Accounting Framework : It consists a set of principles, coding and grouping structure of accounting.
Question 10
1 / -0

In a manual accounting system, ___________ are made to adhere to the principle of cost matching revenue, whereas in computerised accounting system _________ are prepared and stored to follow the principle of cost matching revenue.

A
adjusting entries, journal vouchers

B
journal entries, journal vouchers

C
adjusting entries, journal entries

D
None of these

Solution

In a manual accounting system Adjusting entries are recorded to match the expenses of the accounting period with the revenues generated by them.
In computerized accounting, Journal vouchers are prepared and stored to follow the principle of cost matching revenue.

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Re-Attempt Weekly Quiz Competition

Computerised Accounting System Test 1

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Computerised Accounting System Test 1

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SHARING IS CARING

Question 1

conventional business

big firms

public ltd companies

none of the above

Question 2

Speed

Cost of Training

Accuracy

Up-to-Date Information

Solution

Question 3

Cost accounting

Accounting

Management accounting

Financial accounting

Solution

Question 4

Computerised

Manual

Both manual and computerised

None of these

Solution

Question 5

Staff Opposition

Disruption

Reliability

System Failure

Solution

Question 6

(i), (ii), (iv) and (v)

(ii), (iii), (iv) and (v)

(iii) and (iv)

(i), (iii) and (iv)

Solution

Question 7

Scalable

Less scalable

Highly scalable

None of the Above

Solution

Question 8

Computerised

Manual

Both manual and computerised

None of these

Solution

Question 9

Operating procedure

Accounting framework

Data processing

Back-end database

Solution

Question 10

adjusting entries, journal vouchers

journal entries, journal vouchers

adjusting entries, journal entries

None of these

Solution

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