Financial Accounting is basically Non-Integrated Accounting which accounts for only the monetary aspects of every business transaction. You purchase hundreds of inventory items but to record purchase, you only debit one “Purchase” Account with purchase value without any mention of quantities involved. Similarly you sell different trade items and record them by giving credit to only “Sales” Account.
Under non-integrated accounting systems, Financial Accounting and Inventory/Cost Accounting books/
ledgers are separately maintained. An Integrated Accounting System would be one where only a single set of books would contain all the information of Financial Accounting as well as Inventory/ Cost Accounting. Integrated system would be difficult to maintain if accounts are maintained manually but most available Computerized Accounting Systems are Integrated Systems. In integrated system, the problem of reconciliation of financial accounts and cost accounts does not arise.
0 of 10 questions completed
Take This Challenge !
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
0 of 10 questions answered correctly
Time has elapsed
You have reached 0 of 0 points, (0)
Thanks for participating!
See you soon!
- Question 1 of 10
1. Question1 points
Which of the following is not related to Gandhara School of Art ?CorrectIncorrect
- Question 2 of 10
2. Question1 points
The famous monastary at Vikramasila was founded by theCorrectIncorrect
- Question 3 of 10
3. Question1 points
Most of the Ajanta paintings were done during the period ofCorrectIncorrect
- Question 4 of 10
4. Question1 points
Which of the following Mughal emperors is credited with the composition of Hindi songs ?CorrectIncorrect
- Question 5 of 10
5. Question1 points
The coins of which of the following reveal their love for music ?CorrectIncorrect
- Question 6 of 10
6. Question1 points
Purana Qila was constructed during the reign ofCorrectIncorrect
- Question 7 of 10
7. Question1 points
The temple of Angkorvat is inCorrectIncorrect
- Question 8 of 10
8. Question1 points
Who built the mausoleum of Jahangir and where ?CorrectIncorrect
- Question 9 of 10
9. Question1 points
Akbar built the Panch Mahal, noted for its various types of pillars, atCorrectIncorrect
- Question 10 of 10
10. Question1 points
Most of the buildings of Fatehpur Sikri are built withCorrectIncorrect