Tag: accounting software

Questions Related to accounting software

___________ occurs to ensure that the transaction in terms of delivery of money by ATM has been completed.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. Processing

  2. Revalidation

  3. Storage

  4. Information

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Correct Option: B

____________ is responsible for performing all the arithmetic computations such as addition, subtraction, division, multiplication and exponentiation.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. Memory unit

  2. Control unit

  3. Arithmetic and Logic unit

  4. Both a and b

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Correct Option: C

Which of the following are components of transaction processing system?

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. Input

  2. Processing

  3. Output

  4. All of the above

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Correct Option: D

______________ ensures the accuracy and reliability of input data by comparing the same with some predetermined standards or known data.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. Data Entry

  2. Data Validation

  3. Processing and Revalidation

  4. Storage

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Correct Option: B

___________________ provides online outcome in the form of information and reports without time lag between the transaction and its processing.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. Processing

  2. Batch Processing

  3. Real-Time Processing

  4. Both a and b

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Correct Option: C

Central processing unit has ________ main units.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. two

  2. three

  3. four

  4. five

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Correct Option: B
Explanation:

The three logical units that make up the central processing unit are the arithmetic and logic unit (ALU), main storage, and the control unit. Main storage retains active programs and data. It is relatively expensive, so secondary storage is used to store programs and data until they are needed in main storage.

Under ___________, reports can be prepared on the basis of the required information content according to decision usefulness of the report.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. storage

  2. information

  3. reporting

  4. data entry

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Correct Option: C

Transaction Processing Systems (TPS) are among the earliest computerised systems catering to the requirements of _______ business enterprise.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. small

  2. large

  3. medium

  4. both a and b

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Correct Option: B

Under ____________, processed actions which culminate into financial transaction data  describe the withdrawal of money by a particular customer.

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. data entry

  2. storage

  3. information

  4. reporting

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Correct Option: B

Which of the following CAATs allow fictitious transactions planted by the auditor to be processed along with real ones on client's system?

elements of accounts overview of computerised accounting system accounting software concepts and types of computerized accounting system types of accounting software

  1. Integrated test facility

  2. Test data approach

  3. Generalised audit software

  4. Parallel simulation

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Correct Option: A