A Computerised Accounting System (CAS) is an advanced framework that automates financial processes and streamlines bookkeeping tasks. Utilising software solutions, CAS enhances accuracy, efficiency, and speed in managing financial data, allowing businesses to produce real-time reports and analyses effortlessly. From tracking expenses and revenues to managing payroll and tax obligations, these systems cater to various organizational needs. The integration of technology in accounting not only reduces manual errors but also facilitates compliance with regulatory standards, making it an essential tool for modern businesses aiming for operational excellence and strategic financial management.
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[q] What is the primary purpose of a Computerised Accounting System?
A) To manage human resources
B) To maintain security protocols
C) To automate accounting processes
D) To design software applications
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[a] To automate accounting processes [q] Which of the following is a benefit of using a Computerised Accounting System?
A) Increased data redundancy
B) Reduced risk of human error
C) Limited access to financial data
D) Higher costs of maintenance [a] Reduced risk of human error [q] What does ERP stand for in the context of accounting systems?
A) Emergency Response Planning
B) Enterprise Resource Planning
C) Extended Resource Program
D) Economic Reporting Policy [a] Enterprise Resource Planning [q] In a Computerised Accounting System, which of the following is used to record a transaction?
A) Journal Entry
B) Trial Balance
C) Cash Flow Statement
D) Ledger [a] Journal Entry [q] What is a key feature of Computerised Accounting Systems?
A) Physical storage of records
B) Manual calculation of entries
C) Automated reporting and analysis
D) Installation of security cameras [a] {answer_51]} [q] Which software is commonly used for Computerised Accounting?
A) Microsoft Word
B) QuickBooks
C) Adobe Photoshop
D) AutoCAD [a] QuickBooks [q] What does reconciliation in accounting refer to?
A) Balancing a bank statement with a ledger
B) Creating new accounts
C) Deleting outdated transactions
D) None of the above [a] Balancing a bank statement with a ledger [q] What is an essential requirement for implementing a Computerised Accounting System?
A) High-speed internet only
B) Basic computer skills only
C) Proper training and user understanding
D) No requirements at all [a] Proper training and user understanding [q] What impact does a Computerised Accounting System have on financial reporting?
A) Reports are less accurate
B) Reports are generated manually
C) Real-time data availability and enhanced accuracy
D) Reports are only available annually [a] Real-time data availability and enhanced accuracy [q] Which accounting principle is often maintained in both manual and computerised systems?
A) Consistency
B) Subjectivity
C) Non-comparability
D) Difficulty of access [a] Consistency [x]Click here to explore more flashcards: Accountancy Flashcards [restart] [/qdeck]
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