Under Computerised Accounting System, Match the LIST-I with LIST-II.L…

The correct answer is Option (1) → A-I, B-II, C-III, D-IV

A Computerised Accounting System rests on a few basic components and works by grouping and coding the accounts, so that reports can be produced at once.

(A) The components of Computerised Accounting System are — this matches (I) Data, People, Procedure, Hardware, Software. These are the five components on which the system rests: the raw data, the users, the sequence of actions, the computers and the programs.

(B) The Grouping of Accounts means the classification of data into — this matches (II) Asset, capital, liabilities, revenue and expenses. Accounts are grouped on the basis of the accounting equation, which gives these five basic classes.

(C) The need of Codification is — this matches (III) The Encryption of data. A code is an identification mark given to each account, so that the computer can store and process the data quickly and in the right group. The book asks the same thing in its end-of-chapter questions, and its own answer key gives option (a), “The Encryption of data”; NTA pairs the two in the same way.

(D) Management Information System — this matches (IV) Deals with generation and processing of reports that are vital for management decision-making. MIS turns the recorded data into reports for managers.