State whether the following statements are true or false with reason:I

1.	State whether the following statements are true or false with reason:In the computerized accounting system, closing balances are carried forward to the next period, automatically.
Answer» This statement is True. Just like a manual accounting system, closing balances are not to be carried forward for the next period, in a computerized accounting system. As per the program it is automatically carried forward.

State whether the following statements are true or false with reason:In the computerized accounting system, closing balances are carried forward to the next period, automatically.

Answer»

This statement is True.

Just like a manual accounting system, closing balances are not to be carried forward for the next period, in a computerized accounting system. As per the program it is automatically carried forward.

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State whether the following statements are true or false with reason:In the computerized accounting system, closing balances are carried forward to the next period, automatically.

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