Class 11 Accountancy - Chapter Computerised Accounting System NCERT Solutions | An appropriate accounting software for a

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 ........

A sequence of actions taken to transform the data into decision useful information is called.......

‘Accounting software is an integral part of the computerised accounting system’ Explain. Briefly list the generic considerations before sourcing an accounting software.

The framework of storage and processing of data is called as ........

Give examples of two types of operating systems.

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?

A Trial balance is prepared:

(a) After preparation financial statement.
(b) After recording transactions in subsidiary books.
(c) After posting to ledger is complete.
(d) After posting to ledger is complete and accounts have been balanced.

Explain the factors, which necessitated systematic accounting.

If suspense account does not balance off even after rectification of errors it implies that:

(a) There are some one sided errors only in the books yet to be located.
(b) There are no more errors yet to be located.
(c) There are some two sided errors only yet to be located.
(d) There may be both one sided errors and two sided errors yet to be located.

Discuss the need of preparing a balance sheet.

Fill in the blanks:
(i) A bill of exchange is a __________ instrument.
(ii) A bill of exchange is drawn by the __________ upon his __________.
(iii) A promissory note is drawn by __________ in favour of his __________.
(iv) There are __________ parties to a bill of exchange.
(v) There are __________ parties to a promissory note.
(vi) Drawer and __________ can not be the same parties in case of a bill of exchange.
(vii) Bill of exchange in India languages is called __________.
(viii) __________ days of grace are added in terms of the bill to calculate the date of its __________.

Furniture purchased from M/s Rao Furnishigs for 8,000 was entered into the purchases book.
This is the error of ........................................
State the wrong entry recorded in the book of accounts

Correct effect should have been:

The rectification entry will be:

The primary qualities that make accounting information useful for decision-making are :
(a) Relevance and freedom from bias
(b) Reliability and comparability
(c) Comparability and consistency
(d) None of the above

Passbook is a copy of:
  (a) Copy of customer Account      (b) Bank column of cash book
  (c) Cash column of cash book      (d) Copy of receipts and payments

Who are the external users of information?