Tag: selection of an accounting software package

Questions Related to selection of an accounting software package

Which of the following is an accounting package?

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. Ready to use

  2. Customised

  3. Tailored

  4. All of the above

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Correct Option: D

The cost of installation and maintenance is relatively _______ in customised accounting package.

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. low

  2. medium

  3. equal

  4. high

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Correct Option: D

State the categories accounting packages are classified into ______.

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. Ready to use

  2. Customised

  3. Tailored

  4. All of the above

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Correct Option: D

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

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. conventional business

  2. big firms

  3. public ltd companies

  4. none of the above

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Correct Option: A

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

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

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

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

  3. (iii) and (iv)

  4. (i), (iii) and (iv)

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Correct Option: A
Explanation:

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.

From the following, identify by the web-based financial software.

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. Private Equity Software

  2. Share Accounting Software

  3. Wealth Management Software

  4. WINGS $2013$

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Correct Option: D
Explanation:

Wings 2013 ERP is a complete enterprise software for small and medium businesses. Wings ERP is a completely web-based software.

Ready-to-use accounting software is suited to organisations running small/conventional business where the frequency or volume of accounting transaction is ________. 

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. very average

  2. very high

  3. very low

  4. very limited

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Correct Option: C
Explanation:

Ready-to-use accounting software is suited to organisations running small/conventional business where the frequency or volume of accounting transactions is very low. This is because the cost of installation is generally low and number of users is limited.

Which of the following software has applications in both Mathematics and Statistics?

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. SPSS

  2. SAS

  3. R

  4. None of the above

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Correct Option: D

Accounting package is classified in to __________________.

elements of accounts selection of an accounting software package erp practical application of accounting software accounting information system

  1. Ready-to-use; Customised; Tailored

  2. Recording; Storing of accounting data; Tailored

  3. Ready-to-use; Customised; Recording

  4. Customised; Tailored; Storing of accounting data;

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Correct Option: A
Explanation:

The accounting packages are classified into the following categories:
1. Ready-to-use
2. Customised
3. Tailored
Each of these categories offers distinctive features.

Secrecy of data and software can be better maintained in ______ software.

commercial studies selection of an accounting software package erp practical application of accounting software accounting information system

  1. Recording

  2. Ready-to-use

  3. Customised

  4. None of the Above

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Correct Option: C
Explanation:

Secrecy of data and software can be better maintained in customized and tailored software as compared to ready-to-use software.