Class 11 Accountancy - Chapter Applications of Computers in Accounting NCERT Solutions | Give three examples of a transaction pro

State the relationship between information and decision.

Explain, using examples, the relationship between the organisational MIS and the other functional information system in an organisation. Describe how AIS receives and provides information to other functional MIS.

List the distinctive advantages of a computer system over a manual system.

State the various essential features of an accounting report.

Draw block diagram showing the main components of a computer.

Describe the various elements of a computer system and explain the distinctive features of a computer system and manual system.

‘An organisation is a collection of interdependent decision-making units that exists to pursue organisational objectives’. In the light of this statement, explain the relationship between information and decisions. Also explain the role of the Transaction Processing System in facilitating the decision-making process in business organisations.

Fill in the correct words :

1. The user oriented programmes designed and developed for performing certain specific tasks are called as ...........
2. Language syntax is checked by software called as ...........
3. The people who write programmes to implement the data processing system design are called as ...........
4. ........... is the brain of the computer.
5. ........... and ........... are two of the important requirements of an accounting report.
6. An example of responsibility report is ...........

What is Accounting Information System?

Give example of the relationship between a Human Resource Information System and MIS.

Name any two types of commonly used negotiable instruments.

Why is it necessary to record the adjusting entries in the preparation of final accounts?

State the meaning of incomplete records?

What is ‘Depreciation’?

Briefly state how the cash book is both journal and a ledger.

State the meaning of a trial balance?

State the four basic requirements of a database applications.

Define accounting.

Why is it necessary for accountants to assume that business entity will remain a going concern?

State the need for the preparation of bank reconciliation statement?

Differentiate between source documents and vouchers.

Trial balance is:

(a) An account.
(b) A statement.
(c) A subsidiary book.
(d) A principal book.

Tick the Correct Answer

Agreement of trial balance is affected by:

(a) One sided errors only.
(b) Two sided errors only.
(c) Both (a) and (b).
(d) None of the above.

What is retirement of a bill of exchange?

Are debits or credits listed first in journal entries? Are debits or credits indented?

What are ‘provisions’? How are they created? Give accounting treatment in case of provision for doubtful Debts.

What are closing entries? Give four examples of closing entries.

Mr. Sunrise started a business for buying and selling of stationery with ₹ 5,00,000 as an initial investment. Of which he paid ₹ 1,00,000 for furniture, ₹ 2,00,000 for buying stationery items. He employed a sales person and clerk. At the end of the month he paid ₹ 5,000 as their salaries. Out of the stationery bought he sold some stationery for ₹ 1,50,000 for cash and some other stationery for ₹ 1,00,000 on credit basis to Mr. Ravi. Subsequently, he bought stationery items of ₹ 1,50,000 from Mr. Peace. In the first week of next month there was a fire accident and he lost ₹ 30,000 worth of stationery. A part of the machinery, which cost ₹ 40,000, was sold for ₹ 45,000.

From the above, answer the following :
1. What is the amount of capital with which Mr. Sunrise started business?
2. What are the fixed assets he bought?
3. What is the value of the goods purchased?
4. Who is the creditor and state the amount payable to him?
5. What are the expenses?
6. What is the gain he earned?
7. What is the loss he incurred?
8. Who is the debtor? What is the amount receivable from him?
9. What is the total amount of expenses and losses incurred?
10. Determine if the following are assets, liabilities, revenues, expenses or none of the these: sales, debtors, creditors, salary to manager, discount to debtors, drawings by the owner.

Briefly explain the purpose and benefits of retiring a bill of exchange to the debtor and the creditor.