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Practical application of accounting software - class-XI

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Which of the following is an accounting package?

  1. Ready to use

  2. Customised

  3. Tailored

  4. All of the above


Correct Option: D

The cost of installation and maintenance is relatively _______ in customised accounting package.

  1. low

  2. medium

  3. equal

  4. high


Correct Option: D

State the categories accounting packages are classified into ______.

  1. Ready to use

  2. Customised

  3. Tailored

  4. All of the above


Correct Option: D

Ready-to-Use accounting software is suited to_________ organisations.

  1. conventional business

  2. big firms

  3. public ltd companies

  4. none of the above


Correct Option: A

Which of the following softwares are used for data processing?
(i) EXCEL (ii) ACCESS (iii) SPSS (iv) STAR (v) PASW.

  1. (i), (ii), (iv) and (v)

  2. (ii), (iii), (iv) and (v)

  3. (iii) and (iv)

  4. (i), (iii) and (iv)


Correct Option: A
Explanation:

SPSS, as the name suggests, is software for performing statistical procedures in the social sciences field. The major limitation of SPSS is that it cannot be used to analyze a very large data set.

From the following, identify by the web-based financial software.

  1. Private Equity Software

  2. Share Accounting Software

  3. Wealth Management Software

  4. WINGS $2013$


Correct Option: D
Explanation:

Wings 2013 ERP is a complete enterprise software for small and medium businesses. Wings ERP is a completely web-based software.

Ready-to-use accounting software is suited to organisations running small/conventional business where the frequency or volume of accounting transaction is ________. 

  1. very average

  2. very high

  3. very low

  4. very limited


Correct Option: C
Explanation:

Ready-to-use accounting software is suited to organisations running small/conventional business where the frequency or volume of accounting transactions is very low. This is because the cost of installation is generally low and number of users is limited.

Which of the following software has applications in both Mathematics and Statistics?

  1. SPSS

  2. SAS

  3. R

  4. None of the above


Correct Option: D

Accounting package is classified in to __________________.

  1. Ready-to-use; Customised; Tailored

  2. Recording; Storing of accounting data; Tailored

  3. Ready-to-use; Customised; Recording

  4. Customised; Tailored; Storing of accounting data;


Correct Option: A
Explanation:

The accounting packages are classified into the following categories:
1. Ready-to-use
2. Customised
3. Tailored
Each of these categories offers distinctive features.

Secrecy of data and software can be better maintained in ______ software.

  1. Recording

  2. Ready-to-use

  3. Customised

  4. None of the Above


Correct Option: C
Explanation:

Secrecy of data and software can be better maintained in customized and tailored software as compared to ready-to-use software.

The cost of installation an maintenance for ready-to-use is _____.

  1. Relatively high

  2. Low

  3. High

  4. None of the Above


Correct Option: B
Explanation:

The frequency or volume of accounting transactions in ready-to-use is very low. This is because the cost of installation is low and number of users is limited in ready-to-use.

The number of users and their interface in tailored is _____.

  1. Limited

  2. As per specification

  3. Unlimited

  4. None of the Above


Correct Option: C
Explanation:

The Secrecy and authenticity checks are robust in such tailored software and they offer high flexibility in terms of number of users.

The cost of installation and maintenance is relatively high because the high cost is to be paid to the vendor for _____. 

  1. Recording

  2. Customisation

  3. Ready-to-use

  4. Tailored


Correct Option: B
Explanation:

The cost of installation and maintenance is relatively high because the high cost is to be paid to the vendor for customisation. the customisation includes modification and addition to the software content provisions for the specified number of users and their authentication, etc.

Some accounting software is user friendly requiring a _____ training to the users.

  1. simple

  2. specialised

  3. average

  4. complex


Correct Option: A
Explanation:

Some accounting software is user friendly requiring a simple training to the users. Some other complex software packages linked to other information systems requiring intensive training on a continuous basis.

Following factors are usually taken in considerations before sourcing accounting software:
1. Flexibility; Cost of Installation and Maintenance; Size of Organisation
2. Ease of Adoption and Training needs; Utilities/MIS reports; Expected Level of Secrecy (Software and Data)
3. Exporting/Importing Data Facility; Vendors Reputation and Capability
4. Recording; Customisation; Ready-to-use; Tailored

  1. 1, 2, 3

  2. 2, 3, 4

  3. 1, 3, 4

  4. All of the above


Correct Option: A
Explanation:

Flexibility, Cost of Installation and Maintenance; Size of Organisation; Ease of Adoption and Training needs; Utilities/MIS Reports; Expected level of Secrecy (Software and Data); Exporting/Importing Data Facility; Vendors Reputation and Capability are the factors usually taken in consideration before sourcing accounting software.

An important consideration before sourcing an accounting software is ____.

  1. Customization

  2. Ready-to-use

  3. Tailored

  4. Flexibility


Correct Option: D
Explanation:

An important consideration before sourcing an accounting software is flexibility, viz. data entry and the availability and design of various reports expected from it.

The tailored software is designed to meet the specific requirements of the users and form an important part of the ______.

  1. Organisational FIS

  2. Organisational MIS

  3. Organisational MIE

  4. Organisational MES


Correct Option: B
Explanation:

The tailored software is designed to meet the specific requirement of the users and form an important part of the organisational MIS (Management Information System). Tailored software can interact and share information with the various sub components of the organisational MIS.

Linkage to other information system is ______ in ready-to-use.

  1. restricted

  2. not restricted

  3. definite

  4. None of the above


Correct Option: A
Explanation:

Ready-to-use software offers little scope of linking to other information systems.

The size of organisation and the volume of business transactions ________ the software choices.

  1. do not affect

  2. do affect

  3. do or do not affect

  4. none of the above


Correct Option: B
Explanation:

The size of the organisation and the volume of business transactions do affect the software choices. Small organisations, e.g. in non-profit organisations, where the number of accounting transactions is not so large, many opt for simple, single user operated software.

Which one of the following is not an accounting software?

  1. Tally

  2. Miracle

  3. Profit

  4. SPSS


Correct Option: C
Explanation:
  • Tally is one of the best business accounting software for accounting, inventory, payroll. 
  • Miracle is general purpose accounting software with features as par current industry standards. Main strength of Miracle is easy to use, scalability and flexibility. Miracle is available in different variants like Premium Copy, Standard Copy, Super Account Copy, Account Copy & Billing Copy.
  • SPSS (Statistical Package for the Social Sciences), also known as IBM SPSS Statistics, is a software package used for the analysis of statistical data. Although the name of SPSS reflects its original use in the field of social sciences, its use has since expanded into other data markets.
  • Profit is not an Accounting software.It is a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

Unix environment allows ______ compared to Windows.

  1. single-users

  2. multi-users

  3. non-users

  4. None of the Above


Correct Option: B
Explanation:

Unix environment allows multi-users compared to Windows. In Unix,the user cannot make the computer system functional unless the user clicks with a password, which is not a restriction in Windows.

Which one of the following software's is used for Research Analysis?

  1. SAP

  2. ERP

  3. SPSS

  4. TALLY


Correct Option: C
Explanation:

SPSS is short for Statistical Package for the Social Sciences, and it's used by various kinds of researchers for complex statistical data analysis.

Most top research agencies use SPSS to analyze survey data and mine text data so that they can get the most out of their research projects.

Statistical software packages research in social sciences include________.

  1. SPSS

  2. STATA

  3. Mini Tab

  4. All of the above


Correct Option: D

The software must be capable of attracting users and if it requires simple training should be able to motivate its potential users.

This Statement is true for which of the following factor taken in considerations before sourcing an accounting software.

  1. Flexibility

  2. Ease of adaption and training needs

  3. Size of organisation

  4. Expected level of secrecy


Correct Option: B
Explanation:

Ease of adaptation and training needs is one of the factor which required for taken in consideration before sourcing an accounting software. Some accounting software is user friendly requiring a simple training to the users. The software must be capable of attracting users and if its requiring simple training should be able to motivate its potential users.  

Select the most appropriate alternative from those given below and rewrite the sentence.
___ key is used for entering transaction in purchase voucher. 

  1. F5

  2. F6

  3. F9

  4. F8


Correct Option: C

State whether the following statement are True or False:
Ctrl + B is used to activate the calculator. 

  1. True

  2. False


Correct Option: B

State whether the following statement are True or False:
Alt + F1 are the short key for Company Information menu

  1. True

  2. False


Correct Option: A

State whether the following statement are True or False:
F5 Function key is for Receipt Voucher. 

  1. True

  2. False


Correct Option: B

The secrecy and authenticity checks are robust in ______ softwares and they offer high flexibility in terms of number of users.

  1. Ready to use

  2. Customised

  3. Tailored

  4. None of the above


Correct Option: C
Explanation:

The accounting software is generally tailored in large business organisations with multi users and geographically scattered locations. The secrecy and authenticity checks are robust in such softwares. They are designed to meet the specific requirements of the users and form an important part of an organisational MIS. 

State whether the following statement are True or False:
Alt + F1 is used to delete the specific information.

  1. True

  2. False


Correct Option: A

An important consideration before sourcing an accounting software is flexibility.

This Statement is true for which of the following factor taken in considerations before sourcing an accounting software.

  1. Flexibility

  2. Ease of adaption and training needs

  3. Size of organisation

  4. Expected level of secrecy


Correct Option: A
Explanation:

An important consideration before sourcing an accounting software is flexibility, viz. data entry and the availability and design of various reports expected from it. Flexibility is one of the factor which is taken into consideration before sourcing an accounting software.

To select the budget, which of the following shortcut key one will use in tally ?

  1. ALT+ B

  2. ALT+ Q

  3. ALT+ K

  4. ALT+ M


Correct Option: A

To delete a voucher or to delete a master, which of the following shortcut key one will use in Tally ?

  1. ALT+A

  2. ALT+D

  3. ALT+O

  4. ALT+W


Correct Option: B
Explanation:

Tally Accounting is a software used for accounting purposes. It is provided by Tally Solutions and is a standard business accounting software. Tally ERP is a very robust ERP product and is a complete business management solution. Tally is defined as record, count or a record of debit and credit or an account.

ALT+D is the shortcut key used in Tally to delete a voucher or yo delete a master.

Ready-to-use accounting software is suited to organisations running _______ business where the frequency or volume of accounting transactions is very low.

  1. small

  2. large

  3. medium

  4. both a and b


Correct Option: A

The accounting software is generally tailored in ______ business organisations with multi users and geographically scattered locations.

  1. snall

  2. large

  3. medium

  4. none of the above


Correct Option: B

GAAP tells the ________.

  1. accounting policies

  2. accounting procedures

  3. accounting statements

  4. both a and b


Correct Option: D

In Tally F2 key is used ______________.

  1. To change menu period

  2. To change data

  3. To save records

  4. To delete the records


Correct Option: A
Explanation:

Tally Accounting is a software used for accounting purposes. It is provided by Tally Solutions and is a standard business accounting software. Tally ERP is a very robust ERP product and is a complete business management solution. Tally is defined as record, count or a record of debit and credit or an account.

F2, is the shortcut key in Tally, is used to change the period for which accounting is to be done.

In Tally F6 key is used _________________.

  1. Selection of contra voucher

  2. Selection of payment voucher

  3. Selection of receipt voucher

  4. To Select company


Correct Option: C

Match of the following with reference to shortcut keys used in Tally:
P. To remove  in a line                 1. CTRL + ALT+ I
Q. To Abandom the form              2.  ALT + R
R. To import statutory master       3. ALT + I
S. Rewrite data for a company     4. ALT+I
                                                    5. ALT+Q
                                                    6. Delete
Select the correct answer from the option given below

  1. P Q R S

    3 6 4 2

  2. 3 5 1 2

  3. 2 5 4 3

  4. 6 3 2 1


Correct Option: B

To export the report in ASCIL, HTML, or XML format, which of the following shortcut key one will use in tally ____________.

  1. ALT + E

  2. ALT + P

  3. ALT + EX

  4. ALT + IE


Correct Option: A

To select the budget, which of the following shortcut key one will use in tally ____________.

  1. ALT + B

  2. ALT + Q

  3. ALT + K

  4. ALT + M


Correct Option: A
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