Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Overview of Computerised Accounting System

Question:
The Grouping of Accounts, in the context of Computerized Accounting System, means the classification of data from.........
Options:
Asset, liabilities and capital
Asset, capital, liabilities, revenue and expenses
Asset, owners equity, revenue and expenses
None of the above
Correct Answer:
Asset, capital, liabilities, revenue and expenses
Explanation:
Assets = Liabilities + Capital + (Revenues – Expenses)