Identify the term that refers to the processing of accounting transaction through the use of hardware and software in order to produce accounting records and reports.

CAS

The correct answer is Option (2) → CAS

Computerised Accounting System refers to the processing of accounting transaction through the use of hardware and software in order to produce accounting records and reports. CAS takes accounting transactions as inputs that are processed through Accounting Software to generate the following reports like • Day books/Journals • Ledger • Trial Balance • Position Statement (Balance Sheet) • Statement of Profit and Loss (Profit and Loss Account).