Top 1000+ Solved Financial Accounting MCQ Questions Answer
Q. The CAS should beSol:
a. Simple and integrated, transparent, accurate, scalability, reliability
b. Complex, Accurate, Transparent, Faster to work
c. Able to transform the manual accounting system to computerised accounting system
d. None of the above.
Q. Computer Accounting System is used for recording the financial transaction.Sol:
a. True
b. False
c. none
d. all
Q. 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.
a. Only a
b. Only b
c. Both a and b
d. None of the above
Q. Opening an account in a computerized accounting system is entirely different from opening an account in a manual system.
a. True
b. False
c. none
d. all
Q. Creation of company is the first step in Computerized Accounting process.Sol:
a. True
b. False
c. none
d. all
Q. Application softwaresSol:
a. Can operate on its own
b. Cannot operate without Operating Software
c. Both a and b
d. None of these
Q. Accounting software requiresSol:
a. Transactions to be entered once
b. Transactions to be entered at each stage i.e. recording and posting into accounts
c. Both a and b
d. None of the above
Q. Accounting softwares available areSol:
a. Readymade or off-the-shelf software
b. Tailor-made software
c. Customised Software
d. All of these
Q. Which of the following software is not operating software?Sol:
a. MS DOS
b. Windows XP
c. MS Word
d. None of these
Q. The public hospitals do not carry the activities with an intention of earning profits.Sol:
a. True
b. False
c. none
d. all
Q. The Income and Expenditure Account is a summary of cash transactions.Sol:
a. True
b. False
c. none
d. all
Q. The Income and Expenditure Account includes all revenue expenses and incomeirrespective of its cash flowSol:
a. True
b. False
c. none
d. all