Question : The __________ is traditionally the most popular method of keeping records of financial transactions of any organization.
Option 1: manual system of accounting
Option 2: computerized system of accounting
Option 3: both 1 and 2
Option 4: None of these
Correct Answer: manual system of accounting
Solution : The manual system of accounting is traditionally most popular method of keeping records of financial transactions of any organization. Financial statements are the end products of the accounting process, which are prepared in accordance with the Generally Accepted Accounting Principles (GAAP). Hence, the correct option is 1.
Question : Computerized accounting system refers to the processing of accounting transactions through the use of ______.
Question : With __________ accounting the organisation have greater transparency.
Question : Under Computerised Accounting System, financial statements are generated from the _________ itself.
Question : CAS (Computerized Accounting System) is designed to:
Question : __________ are the end products of the accounting process, which are prepared in accordance with the generally accepted accounting principles.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile