Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Overview of Computerised Accounting System

Question:
Which of the following is the definition of "accounting cycle" in the context of Computerized Accounting System?
Options:
The accounting cycle means preparing the financial statements for a particular period of time.
The accounting cycle refers to a period of time for which financial statements are prepared by an organization.
The accounting cycle means the processes involved in identifying, measuring and communicating the information.
All of the above
Correct Answer:
The accounting cycle means the processes involved in identifying, measuring and communicating the information.
Explanation:
The accounting cycle means the processes involved in identifying, measuring and communicating the information.