Question :
A) Does not require as stringent a set of internal controls
B) Will produce a more accurate set of financial statements
C) Eliminates the need to reconcile control accounts and subsidiary ledgers
D) Will be more efficient at producing financial statements
Answer : D
What is the advantage of a computer-based transaction processing system
A) Does not require as stringent a set of internal controls
B) Will produce a more accurate set of financial statements
C) Eliminates the need to reconcile control accounts and subsidiary ledgers
D) Will be more efficient at producing financial statements
Answer : D
Description :
A computer-based transaction processing system will be more efficient at producing financial statements.
Related Questions - 1
Which of the following equation is true for balance sheet
A) Assets = Liabilities + Capital
B) Liabilities = Assets + Capital
C) Capital = Assets + Liabilities
D) All of these
Related Questions - 2
Which of the following can be budgeted in tally
A) Nett Transactions
B) Closing Balance
C) Both A and B
D) None of the above
Related Questions - 3
We can create multiple users in Tally activating
A) Tally Audit
B) Use Security Control
C) Both (a) and (b)
D) None of these
Related Questions - 4
Which shortcut key is used in Company Features screen to use Accounting Features in Tally
A) F1
B) F2
C) F3
D) F4
Related Questions - 5
Trial balance is prepared on ________ basis
A) Monthly
B) Annually
C) Half yearly
D) Any of the above