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Question

Which of the following is not an accounting software package ?

This question was previously asked in
UGC NET 2015 Paper 1 Question Paper (27-Dec-2015)
The correct answer is

Sage M

Accounting software packages are ready-made programs used to record transactions, maintain ledgers and prepare financial statements in a computerised accounting system.

Quick Books (by Intuit) is a widely used accounting package for small and medium businesses. Sage One is Sage's cloud-based accounting package for small businesses, and Sage 50 (earlier Peachtree / Sage Line 50) is Sage's desktop accounting package.

There is no accounting software package marketed as Sage M; it is not a product in the Sage family of accounting programs.

So the name that does not refer to an accounting software package is Sage M.

Hence, the answer is Sage M.

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Important Questions from Basics of Accounting

  1. An amount received __________ is a capital receipt.
  2. Which of the following statement is incorrect regarding the assumptions of Break-even analysis ?
  3. Match the type of account books in List-I with their appropriate purpose in List-II :
    List-IList-II
    (a) Purchase book(i) For recording cash receipts and payments
    (b) Cash book(ii) For recording transactions for which no specific book is maintained
    (c) Sales book(iii) For recording all goods purchased on credit
    (d) Journal(iv) For recording all goods sold on credit
    (v) For recording all sales returned by the customers
    (vi) For recording all purchases returned to suppliers
    Code :
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    Reason (R) : A fixed asset is anything that is owned over a long period of time and can be converted into cash.
  5. In which textile finishing process, the surface fibres are burned off to produce smooth surface ?
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