Q. Accounting standards issued by ICAI are mandatory in India. Sol:
✅ Correct Answer: (A)
True
Financial Accounting MCQs and Notes
Q. Control unit works as ___________ of the computer. Sol:
✅ Correct Answer: (B)
Brain
Q. A computer is an electric device Sol:
✅ Correct Answer: (B)
False
Q. The CAS should be Sol:
✅ Correct Answer: (A)
Simple and integrated, transparent, accurate, scalability, reliability
Q. The components of Computerised Accounting System refers to :
✅ Correct Answer: (A)
Business transactions are analysed, transactions recorded, prepare trial balance, preparation of balance sheet and profit and loss account
Q. The Computerised Accounting System refers to : Sol:
✅ Correct Answer: (B)
Processing of accounting transaction through computer and produce records and reports
Q. The components of Computerised Accounting System are : Sol:
✅ Correct Answer: (B)
Data, People, Procedure, Hardware, Software
Q. This is the kind of software which is specifically designed for meeting the requirements of
a particular business.
Sol:
a particular business.
Sol:
✅ Correct Answer: (B)
Customised accounting packages
Q. The software may also allow for graphical rendering of data, which is useful for carrying
out analysis.
Sol:
out analysis.
Sol:
✅ Correct Answer: (B)
Spreadsheet software
Q. Such kind of software offers various functionalities such as cell content, pivot table, formulas and macros.
✅ Correct Answer: (C)
Spreadsheet software