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Questions and Answers
What is one advantage of using computerized accounting systems?
What is one advantage of using computerized accounting systems?
- Data is input and processed very rapidly (correct)
- Manual system is faster than computerized system
- Accounting staff are not needed with computerized systems
- Data is input twice for accuracy
How does a computerized accounting system contribute to greater accuracy?
How does a computerized accounting system contribute to greater accuracy?
- Data is only input once and transactions carried out automatically (correct)
- Accounting staff manually verify all transactions
- Data is manually cross-checked multiple times
- Data processing is slower than in a manual system
What type of documents can be produced automatically by a computerized accounting system?
What type of documents can be produced automatically by a computerized accounting system?
- Only remittance advices
- Only statements
- Invoices, credit notes, statements, and remittance advices (correct)
- Only invoices
How does constant updating of accounting records benefit an organization?
How does constant updating of accounting records benefit an organization?
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What type of management information can quickly be made available in report form by a computerized accounting system?
What type of management information can quickly be made available in report form by a computerized accounting system?
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