Question

Which of the following is the feature of computerised accounting system?
a. Online input and storage of accounting data.
b. Printout of purchase and sales invoices.

• A. Only a
• B. Only b
• C. Both a and b
• D. None of the above

Answer 1

Answer: (C)

Both a and b

The computer accounting system is based on the concept of databases. Typically computerised accounting system offers the following features:
1) Online input and storage of accounting data.
2) Printout of purchase and sales invoices.
3) Logical scheme for codification of accounts and transactions. Every account and transaction is assigned a unique code.
4) Grouping of accounts is done from the very beginning.
5) Instant reports for management.