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Computerised Accounting System Test 3

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Computerised Accounting System Test 3
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Weekly Quiz Competition
  • Question 1
    1 / -0
    ________, one of the advantage of computerised accounting system, allows the users to store data in a manner that does not require a large amount of physical space. 
    Solution
    The advantage of computerised accounting system, storage and retrieval, allows the users to store data in a manner that does not require a large amount of physical space.
  • Question 2
    1 / -0
    Some accounting software is user friendly requiring a _____ training to the users.
    Solution
    Some accounting software is user friendly requiring a simple training to the users. Some other complex software packages linked to other information systems requiring intensive training on a continuous basis.
  • Question 3
    1 / -0
    An important consideration before sourcing an accounting software is ____.
    Solution
    An important consideration before sourcing an accounting software is flexibility, viz. data entry and the availability and design of various reports expected from it.
  • Question 4
    1 / -0
    Linkage to other information system is ______ in ready-to-use.
    Solution
    Ready-to-use software offers little scope of linking to other information systems.
  • Question 5
    1 / -0
    The size of organisation and the volume of business transactions ________ the software choices.
    Solution
    The size of the organisation and the volume of business transactions do affect the software choices. Small organisations, e.g. in non-profit organisations, where the number of accounting transactions is not so large, many opt for simple, single user operated software.
  • Question 6
    1 / -0
    Which one of the following is not an accounting software?
    Solution
    • Tally, Oracle and SAP are some of best software available for accounting purposes. They all have some pros and cons of their own.
    • GAAP is not an Accounting software. It stands for Generally Accepted Accounting principles.

  • Question 7
    1 / -0
    Following factors are usually taken in considerations before sourcing accounting software:
    1. Flexibility; Cost of Installation and Maintenance; Size of Organisation
    2. Ease of Adoption and Training needs; Utilities/MIS reports; Expected Level of Secrecy (Software and Data)
    3. Exporting/Importing Data Facility; Vendors Reputation and Capability
    4. Recording; Customisation; Ready-to-use; Tailored
    Solution
    Flexibility, Cost of Installation and Maintenance; Size of Organisation; Ease of Adoption and Training needs; Utilities/MIS Reports; Expected level of Secrecy (Software and Data); Exporting/Importing Data Facility; Vendors Reputation and Capability are the factors usually taken in consideration before sourcing accounting software.
  • Question 8
    1 / -0
    A computerised accounting system is an accounting information system that processes the ______ to produce reports as per user requirements.
    Solution
    A computerized accounting system is an accounting information system that processes financial transactions and events as per the Generally Accepted Accounting Principles (GAAP) to produce reports for user requirements.
  • Question 9
    1 / -0
    The internet has assisted in decreasing the ______ in issuing financial reports to users.
    Solution
    Earlier the physical copies of financial reports were sent via post or courier (though the option is still available).
    But now, with the advent of internet, it has become possible for the companies display the financial reports on their official website, it is convenient for any one sitting in any part of the world to refer to these reports and also to other information of the company.
    This saves a lot of time of the company and also the other stakeholders.
  • Question 10
    1 / -0
    The secrecy and authenticity checks are robust in ______ softwares, and they offer high flexibility in terms of number of users.
    Solution
    The accounting software is generally tailored for large business organizations with multi users and geographically scattered locations. The secrecy and authenticity checks are robust in such softwares. They are designed to meet the specific requirements of the users and form an important part of an organizational MIS. 
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