Question : What is chart of accounts?
Option 1: provides an index of every account in an accounting system
Option 2: provides a way of every account in non-accounting system
Option 3: Both 1 and 2
Option 4: None of these
Correct Answer: provides an index of every account in an accounting system
Solution : An index of all the accounts in an accounting system is provided by a chart of accounts (COA), a financial and organisational tool. Hence, the correct option is 1.
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.
Question : For making a trial balance it is not necessary to make a ________ in computerized accounting system -
Question : The computerised accounting system refers to -
Question : Modern computerised accounting system is based on the concept of database which is implemented using -
Question : Under computerized system of accounting, MIS stands for
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