Class 11 Accountancy - Chapter Computerised Accounting System NCERT Solutions | Distinguish between a ‘ready-to-us

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.......

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?

If the trial balance agrees, it implies that:

(a) There is no error in the books.
(b) There may be two sided errors in the book.
(c) There may be one sided error in the books.
(d) There may be both two sided and one sided errors in the books.

Fill in the blanks :

(i) Passbook is a copy of.............as it appears in the ledger of the bank.
(ii) When money is with drawn from the bank, the bank ............. the account of the customer.
(iii) Normally, the cash book shows a debit balance, passbook shows .............balance.
(iv) Favourable balance as per the cash book means .............balance in the bank column of the cash book.
(v) If the cash book balance is taken as starting point the items which make the cash book balance smaller than the passbook must be .............for the purpose of reconciliation.
(vi) If the passbook shows a favourable balance and if it is taken as the starting point for the purpose of bank reconciliation statement then cheques issued but not presented for payment should be .............to find out cash balance.
(vii) When the cheques are not presented for payment, favourable balance as per the cash book is .............than that of the passbook.
(viii) When a banker collects the bills and credits the account passbook overdraft shows .............balance.
(ix) If the overdraft as per the passbook is taken as the starting point, the cheques issued but not presented are to be .............in the bank reconciliation statement.
(x) When the passbook balance is taken as the starting point items which makes the passbook balance .............than the balance in the cash book must be deducted for the purpose of reconciliation.

Describe how accounts are used to record information about the effects of transactions?

Give the journal entries for the following adjustments :
(a) Outstanding salary ₹ 3,500.
(b) Rent unpaid for one month at ₹ 6,000 per annum.
(c) Insurance prepaid for a quarter at ₹ 16,000 per annum.
(d) Purchase of furniture costing ₹ 7,000 entered in the purchases book.

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

Define accounting.

State the relationship between information and decision.

Enumerate informational needs of management.

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.

Why are the rules of debit and credit same for both liability and capital?