Question : Statement 1: By integrating and automating all business processes, computerised accounting system benefits all firms. Statement 2: These tasks could include production, inventory management, sales, and financing.
Option 1: Both the statements are true
Option 2: Both the statements are false
Option 3: Statement 1 is true and statement 2 is false
Option 4: Statement 1 is false and statement 2 is true
Correct Answer: Both the statements are true
Solution : By integrating and automating all business processes, computerised accounting system benefits all firms. These tasks could include production, inventory management, sales, and financing. Additionally, it makes it easier to organise precise and current business data in an approachable way. Hence, the correct option is 1.
Question : Statement 1: In management accounting, data from cost accounting and financial accounting are both used. Statement 2: Therefore, a suitable system is required to combine cost accounts and financial accounts.
Question : Statement 1: For efficient analysis and interpretation, the financial accounting data is categorised and codified. Statement 2: The accounts are categorised according to their nature.
Question : Statement 1: Sales promotion techniques aim to boost short-term sales.
Statement 2: Sales promotion techniques do not impact consumer behavior and loyalty.
Question : Statement 1: The functions of top management include planning, organizing, leading, and controlling.
Statement 2: The functions of top management include coordination and supervision of employees.
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