The framework of storage and processing of data is called as ........
The framework of storage and processing of data is called as Operating environment .
Describe the various types of accounting software along with their advantages and limitations.
State the four basic requirements of a database applications.
‘Computerised Accounting Systems are best form of accounting system’. Do you agree? Comment.
Name the various categories of accounting package.
Define a computerised accounting system. Distinguish between a manual and computerised accounting system.
Database is implemented using ........
‘Accounting software is an integral part of the computerised accounting system’ Explain. Briefly list the generic considerations before sourcing an accounting software.
A sequence of actions taken to transform the data into decision useful information is called.......
Give examples of two types of operating systems.
Give two examples each of the organisations where ‘ready-to-use’, ‘customised’, and ‘tailored’ accounting packages respectively suitable to perform the accounting activity.
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?
Define accounting.
State the different elements of a computer system.
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?
State with reasons whether the following statements are True or False ;
(i) Making excessive provision for doubtful debits builds up the secret reserve in the business.
(ii) Capital reserves are normally created out of free or distributable profits.
(iii) Dividend equalisation reserve is an example of general reserve.
(iv) General reserve can be used only for some specific purposes.
(v) ‘Provision’ is a charge against profit.
(vi) Reserves are created to meet future expenses or losses the amount of which is not certain.
(vii) Creation of reserve reduces taxable profits of the business.
Why are the rules of debit and credit same for both liability and capital?
The journal entry to record the sale of services on credit should include:
(a) Debit to debtors and credit to capital.
(b) Debit to cash and Credit to debtors.
(c) Debit to fees income and Credit to debtors.
(d) Debit to debtors and Credit to fees income.
Enumerate informational needs of management.
'Accounting information should be comparable'. Do you agree with this statement? Give two reasons.
The role of accounting has changed over the period of time- Do you agree? Explain.
Explain errors of principle and give two examples with measures to rectify them.
What do you understand by ledger folio?
What is the purpose of preparing trading and profit and loss account?
Double column cash book records:
(i) All transactions
(ii) Cash and bank transactions
(iii) Only cash transactions
(iv) Only credit transactions