Top 1000+ Solved Financial Accounting MCQ Questions Answer
Q. What are the advantages of tailor-made software?Sol:
a. These are ready made softwares
b. Low cost
c. High secrecy of data
d. None of the above
Q. What are the factors to be considered while source accounting software?Sol:
a. Flexibility
b. Adaptability
c. Interest of management
d. Both a & b
Q. Ram want to install a computerised accounting system but his budget is low. Whichsoftware he should opt forSol:
a. Ready to use Software
b. Customized Software
c. Tailor-made Software
d. He can buy any of above, all cost same
Q. If an organisation want to develop a computerised accounting system according to its needas the business of organisation is complex. Which software it should opt for :
a. Ready to use Software
b. Customized Software
c. Tailor-made Software
d. Any of above
Q. What are the features of computerized accounting software?Sol:
a. storage of accounting data and on-line input
b. instantly produces different reports
c. group different account
d. All of the above
Q. The ……….of a vendor is also an important factor to consider while opting for acomputerized accounting software
a. Level of profit
b. Honesty
c. Capability
d. None of the above
Q. Acounting Packages are developed on the basis ofSol:
a. Accounting concepts
b. Accounting conventions
c. Both Accounting concepts and Conventions
d. None of the above
Q. What type of Software is an Accounting Package?Sol:
a. System Software
b. Application Software
c. Utility Software
d. Basic
Q. The components of computerised accounting system areSol:
a. Data, Report, Ledger, software, Hardware
b. Software, Hardware, People, Procedure, Data
c. Data, Coding, Procedure, Objective, Output
d. People, Procedure, Hard ware, software
Q. Grouping of Accounts means the classification of data from:Sol:
a. Assets, Capital, and Liabilities
b. Assets, Capital, Liabilities, Revenues & Expenses
c. Assets, Owners equity, Revenue & Expenses
d. Capital, Liabilities, Revenues, & Expenses
Q. Codification of Accounts required for the purpose of:
a. Hierarchical relationship between groups and components
b. Data processing faster and preparing of final accounts
c. Keeping data and information secured
d. None of the above
Q. Method of codification should be
a. Such that it leads to grouping of accounts
b. An identification mark
c. Easy to understand and leads to grouping of accounts
d. None of the above
Q. Final account subsystem in Accounting Information System (AIS) deals withSol:
a. Preparation of budgets
b. Preparation of Pay Roll
c. Preparation of Final Accounts
d. None of the above