Tag: using computerised accounting system

Questions Related to using computerised accounting system

A report must be effective and efficient to the user and should substantiate the decision-making process.

elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

  1. True

  2. False

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Correct Option: A
Explanation:

When the related information is summarized to meet a particular need, it is called as a Report. The content and design of the reports is expected to vary depending up on the level to which it is submitted and decision to made on the basis of the report. Hence, a report must be effective and efficient to the user and should substantiate the decision-making process. Hence, a report must be effective and efficient to the user and should substantiate the decision-making process.

According to the conditions or exceptions the exception report is prepared.

elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

  1. True

  2. False

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Correct Option: A
Explanation:

According to the conditions or exceptions the exception report is prepared. for example, inventory report in short supplies, stock status query, over stocked status, etc.

The accounting Sub-system transaction cycle would not include the processing of purchase orders.

elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

  1. True

  2. False

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Correct Option: B
Explanation:

The accounting Sub-system transaction cycle would include the processing of purchase orders, advance to suppliers/vendors, inventory status updation, account payable etc.

Bad debts report for a given product, Stock valuation report are prepared under ________ reports.

elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

  1. summary

  2. demand

  3. exception

  4. responsibility

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Correct Option: B
Explanation:

 Demand Reports This reports are prepared only when the management request them, e.g,Bad Debts Report for a given product ,Stock Valuation Report.

Under ______________, the business process in the marketing and sales department involve functions such as inquiry, contact creation, entry of orders, etc.

elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

  1. AIS and Marketing Information System

  2. AIS and Manufacturing Information System

  3. Accounting Information System

  4. Manufacturing Information System

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Correct Option: A

Stock status query, over stocked status are to be prepared under ___________ reports.

elements of accounts using computerised accounting system grouping and codification of accounting steps in installation of cas accounting information system

  1. summary

  2. demand

  3. responsibility

  4. exception

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Correct Option: D