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?

Describe the advantages of sub-dividing the Journal.

Why is it important to adopt a consistent basis for the preparation of financial statements? Explain.

What do you understand by Imprest amount in petty cash book?

State the title of the accounts affected, type of account and the account to be debited and account to be credited :
                                                                                         ₹
1. Bhanu commenced business with cash                  1,00,000
2. Purchased goods on credit from Ramesh               40,000
3. Sold goods for cash                                                 30,000
4. Paid salaries                                                            3,000
5. Furniture purchased for cash                                  10,000
6. Borrowed from bank                                                50,000
7. Sold goods to Sarita                                                10,000
8. Cash paid to Ramesh on account                           20,000
9. Rent paid                                                                 1,500

When an entry is made in journal:
(a) Assets are listed first.
(b) Accounts to be debited listed first.
(c) Accounts to be credited listed first.
(d) Accounts may be listed in any order.

‘An organisation is a collection of interdependent decision-making units that exists to pursue organisational objectives’. In the light of this statement, explain the relationship between information and decisions. Also explain the role of the Transaction Processing System in facilitating the decision-making process in business organisations.

The accounting concepts and accounting standards are generally referred to as the essence of financial accounting. Comment.

Explain briefly the procedure of calculating the date of maturity of a bill of exchange? Give example.

Which stakeholder group...                    would be most interested in
_____________________________       (a) the VAT and other tax liabilities of the firm
_____________________________       (b) the potential for pay awards and bouns deals
_____________________________       (c) the ethical or environmental activities of the firm
_____________________________       (d) whether the firm has a long-term future
_____________________________       (e) profitability and share performance
_____________________________       (f) the ability of the firm to carry on providing a
                                                                 service or producing a product.

You are a senior accountant of Ramona Enterprises Limited. What three steps would you take to make your company’s financial statements understandable and decision useful?

1. ——————————————————————————————
2. ——————————————————————————————
3. ——————————————————————————————

[Hint : Refer to qualitative characteristics of accounting information]