Class 11 Accountancy - Chapter Computerised Accounting System NCERT Solutions | The framework of storage and processing

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?

What do you understand by ledger folio?

Why is it necessary to create a provision for doubtful debts at the time of preparation of final accounts?

If the rent received in advance Rs. 2,000. The adjustment entry will be :

(a) Debit profit and loss account and Credit rent account.
(b) Debit rent account Credit rent received in advance account.
(c) Debit rent received in advance account and Credit rent account.
(d) None of these.

A purchase of machine for cash should be debited to:
(i) Cash account
(ii) Machine account
(iii) Purchase account
(iv) None of these

What entry (debit or credit) would you make to:
(a) increase revenue
(b) decrease in expense,
(c) record drawings
(d) record the fresh capital introduced by the owner.

Discuss the concept-based on the premise do not anticipate profits but provide for all losses.

Enumerate main objectives of accounting.

What is meant by provision for doubtful debts? How are the relevant accounts prepared and what journal entries are recorded in final accounts? How is the amount for provision for doubtful debts calculated?

Giving examples, explain each of the following accounting terms:
* Fixed assets              * Revenue              * Expenses
* Gain                           * Profit                    * Capital
* Short-term liabilities

Why is it necessary for accountants to assume that business entity will remain a going concern?