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easyMCQCUET Accountancy 2022 23 Aug Shift 2 PYQs2026Accountancy
1 mark

"A system of letter or figure with arbitrary meaning for brevity and for machine processing of information".Above statement refers to the term :

  1. A
    Liabilities
  2. B
    Assets
  3. C
    Code
  4. D
    Debtors

Solution & Step-by-step Explanation

A 'Code' is an identification mark—a system of letters, numbers, or symbols used to represent data concisely to facilitate sorting, storing, and processing of information in computerized accounting systems.

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"A system of letter or figure with arbitrary meaning for brevity and for machine processing of information".Above statement refers to the term :
A
Liabilities
B
Assets
C
Code
D
Debtors

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