Question

What are the critical components of a system for purchasing goods and then paying creditors, using a computerised accounting system?

A. The computerised system must have a sound system of coding.

B. The computerised system does not follow any principles from existing manual data entry.

C. The computerised interface is comprised of a number of subsystems such as debtors, creditors, payroll, banking and inventory.

D. The computerised system is not expected to reduce the number of errors relating to manual data entry.

Answer 1

Ans: C

​​​​​​​The computerised interface is comprised of a number of subsystems such as debtors, creditors, payroll, banking and inventory.

Reason:

It Helps you record business transactions, including income and expenses, payments to workers, and stock and asset details. Efficient way to keep financial records and requires less storage space.

The main advantages of a computerized accounting system are listed below: Speed – data entry onto the computer with its formatted screens and built-in databases of customers and supplier details and stock records can be carried out far more quickly than any manual processing.