Tag: elements of accounts

Questions Related to elements of accounts

Since the computer can do many jobs simultaneously, segregation is not as defined as it is in a manual system. How can a computer system be modified to compensate for the lack of segregation of duties? 

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. The computer system should be under the direction of the internal audit department.

  2. The computer system should be accessible to various competent parties so they can check on each other's work.

  3. Strong controls should be built into both the computer software and hardware to limit access and manipulation.

  4. Many companies run complete parallel manual and automated accounting systems for a cross check on input and output.

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Correct Option: C

The most commonly used input device are ________ and ________.

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. keyboard, mouse

  2. keyboard, printer

  3. graphic plotter, mouse

  4. graphic plotter, keyboard

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Correct Option: A

Which of the following are components of computer?

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. Input Unit

  2. Central Processing System

  3. Output Unit

  4. All of the above

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Correct Option: D

Broadly, the components of Computerised Accounting System are :

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. Computer Hardware

  2. Software

  3. Financial Data

  4. All of the above

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Correct Option: D

What is a computerized accounting system?

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. It's a system that teaches accounting courses.

  2. It is a program that counts the currency that comes into a business.

  3. It's a computer that is dedicated to accounting entries.

  4. A software package that manages the financial activities and records of a business.

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Correct Option: B

Which of the following is not included in components of computerised accounting system?

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. Computer Hardware

  2. Software

  3. Financial Data

  4. None of the above

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Correct Option: D

The success of a growing organisation with a complexity of transactions tends to depend on ______________.

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. resource optimisation

  2. quick decisio-making

  3. control

  4. all of the above

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Correct Option: D

The accounting software is so designed that a transaction, once entered, is automatically transported or transferred or posted to the ledger account.

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. True

  2. False

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Correct Option: A

Which of the following is not the feature of Computerised Accounting System?

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. Online Input and Storage of Accounting Data.

  2. Printout of Vouchers and Invoices.

  3. Recording of Bank Receipts.

  4. None of the above.

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Correct Option: D

Which of the following are the limitations of computer system?

elements of accounts applications of computers in accounting introduction to computer and accounting information system meaning of computerised accounting system application of computerised accounting system

  1. Lack of commonsense, Lack of decision making, Zero IQ

  2. Speed, Accuracy, Zero IQ

  3. Lack of commonsense, Lack of decision making, Accuracy

  4. Lack of commonsense, Speed, Accuracy

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Correct Option: A
Explanation:

A computer system possesses some characteristics, which in comparison to human beings, turn out to be its capabilities but there are some limitations of computer system which are as follows: Lack of commonsense, Zero IQ, Lack of decision-making etc.