Computer Accounting System is used for recording the financial transaction. Sol:

Related MCQs

• Which of the following is true statement for computerised accounting system? a. the computer accounting system is based on the concept of database. b. Computer accounting system does not away with the concept of creating and maintaining journals, ledger etc.
• It refers to the system of recording, organising, summarising, analysing, interpreting and communicating the financial data of a business. Sol:
• Accounting procedures and accounting practices should remain same from year to year under which of the following accounting principles:
• To convert the accounts prepared on cash system of accounting into mercantile system of accounting, which of these adjustments is not necessary
• The process of recording business transaction in a book of original entry is known as-
• Recording of transaction in the journal is called
• Recording of transaction in ledger is called as
• Recording of a transaction in a Journal is called
• What are the features of a computerized accounting system? Sol:
• What is not an advantage of a computerized accounting system. Sol: