A
B
C
D
E
Correct answer is B
No explanation has been provided for this answer.
The quality of output information depends on the
Quality of input data
Time of processing
Speed of processing
Quantity of output service
Correct answer is A
The output is an instant reaction to the input. The value derived from output depends on the quality of input and your process for converting raw ideas and feedback into effective solutions.
Which of the following is a spreadsheet application?
Excel
Word
Internet
Windows
Correct answer is A
A spreadsheet is a sheet of paper that shows accounting or other data in rows and columns; a spreadsheet is also a computer application program that simulates a physical spreadsheet by capturing, displaying, and manipulating data arranged in rows and columns. Excel is an example of a spread sheet application
Interest on capital
Interest on drawings
Share of profit
Drawings
Correct answer is B
Interest on drawings is an expense to the partner, and hence it is credited to the profit and loss appropriation account.
Which of the following relates to cash basis of accounting?
Accruals and prepayments are considered
Debtors and creditors are recorded
Fixed assets are written off in the year of purchase
Profits are maximized
Correct answer is A
The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company.