Class 11 Accountancy - Chapter Computerised Accounting System NCERT Solutions | State the four basic requirements of a d

Describe the various types of accounting software along with their advantages and limitations.

‘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.

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?

Select the Correct Answer:

A bank reconciliation statement is prepared by:
  (a) Creditors                                     (b) Bank
  (c) Account holder in a bank            (d) Debtors

Double column cash book records:
(i) All transactions
(ii) Cash and bank transactions
(iii) Only cash transactions
(iv) Only credit transactions

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:

Record the rectification entry for the following transactions:

Credit sales to Rajni 5,000 recorded in Purchases book:
This is an error of ..........................................
State the wrong entry recorded in the book of accounts

Correct effect should have been:

The rectification entry will be:

Select Right Answer:

Voucher is prepared for:
(i) Cash received and paid
(ii) Cash/Credit sales
(iii) Cash/Credit purchase
(iv) All of the above

Voucher is prepared from:
(i) Documentary evidence
(ii) Journal entry
(iii) Ledger account
(iv) All of the above

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.

What is a journal? Give a specimen of journal showing at least five entries.

What is the purpose of contra entry?

State the nature of accounting information required by long-term lenders.