Question : Under Computerised Accounting System, financial statements are generated from the _________ itself.
Option 1: software
Option 2: manual
Option 3: Both 1 and 2
Option 4: None of these
Correct Answer: software
Solution : Financial statements produced under a computerised accounting system are produced by the computer. Consequently, there is no requirement to create a trial balance. Hence, the correct option is 1.
Question : The __________ is traditionally the most popular method of keeping records of financial transactions of any organization.
Question : How do the identification and recording of adjustment entries post under computerised accounting system?
Question : Computerized accounting system refers to the processing of accounting transactions through the use of ______.
Question : __________ are the end products of the accounting process, which are prepared in accordance with the generally accepted accounting principles.
Question : Statement 1: In management accounting, data from cost accounting and financial accounting are both used. Statement 2: Therefore, a suitable system is required to combine cost accounts and financial accounts.
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