Q. Choose the correct pair Sol:
✅ Correct Answer: (A)
Cash and Bank sub system – Deals with receipts and payments of cash
Financial Accounting MCQs and Notes
Q. The need of codification is Sol:
✅ Correct Answer: (D)
The encryption of data
Q. Which among the following deals with generation of reports that are vital for management
decision making?
Sol:
decision making?
Sol:
✅ Correct Answer: (D)
Management Information System
Q. Which among the following is an example of mnemonic codes? Sol:
✅ Correct Answer: (C)
ACC, ECO, ENG, MAL
Q. Final account subsystem in Accounting Information System (AIS) deals with Sol:
✅ Correct Answer: (C)
Preparation of Final Accounts
Q. Method of codification should be
✅ Correct Answer: (C)
Easy to understand and leads to grouping of accounts
Q. Codification of Accounts required for the purpose of:
✅ Correct Answer: (A)
Hierarchical relationship between groups and components
Q. Grouping of Accounts means the classification of data from: Sol:
✅ Correct Answer: (B)
Assets, Capital, Liabilities, Revenues & Expenses
Q. The components of computerised accounting system are Sol:
✅ Correct Answer: (B)
Software, Hardware, People, Procedure, Data