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Tally Accounting

25 Questions
Tally Accounting

Max time: 30 MinutesNo. Of Questions: 25Read All Questions CarefullyNo Negative Marking-:All The Best:-

Questions and Answers
  • 1. 
    • A. 

      To create company

    • B. 

      To delete company

    • C. 

      To select company

    • D. 

      To shut company

  • 2. 
    Trail balance is summarized form of ___________.
    • A. 

      Journal

    • B. 

      Ledger

    • C. 

      Stock Summary

    • D. 

      None of Above

  • 3. 
    Inventory is the information of ___________.
    • A. 

      Ledgers

    • B. 

      Groups

    • C. 

      Stock

    • D. 

      Proprietor

  • 4. 
    The period of an accounting year is ___________.
    • A. 

      1 January to 31 December

    • B. 

      1 March to 31 March

    • C. 

      1 April to 31 March

    • D. 

      31 March to 1 April

  • 5. 
    If we have to make the payment of our telephone bill then which voucher will be used.
    • A. 

      Contra Voucher

    • B. 

      Payment Voucher

    • C. 

      Journal Voucher

    • D. 

      Receipt Voucher

  • 6. 
    • A. 

      Analysis

    • B. 

      Interpretation

    • C. 

      Calculation

    • D. 

      Classification

  • 7. 
    • A. 

      Payment Voucher

    • B. 

      Receipt Voucher

    • C. 

      Sale Voucher

    • D. 

      Memo Voucher

  • 8. 
    • A. 

      Ramesh is debited by mesh info tech for 5,000 Rs.

    • B. 

      Mesh InfoTech is not debited by Ramesh for 5,000 Rs.

    • C. 

      Mesh InfoTech is credited by Ramesh for 5,000 Rs.

    • D. 

      Ramesh is credited by mesh info tech for 5,000 Rs.

  • 9. 
    • A. 

      Backup the company data

    • B. 

      Restore the company data

    • C. 

      Alter the company data

    • D. 

      None of these

  • 10. 
    Select the steps to create a new voucher:
    • A. 

      Gateway of tally> Voucher entries> Press Function key.

    • B. 

      Gateway of tally> Account info.>Voucher type>Create

    • C. 

      Gateway of tally> Account info> Voucher type> Display

    • D. 

      Gateway of tally> Account info> Voucher type> Alter

  • 11. 
    • A. 

      True

    • B. 

      False

  • 12. 
    • A. 

      Financial Transactions

    • B. 

      Recording

    • C. 

      Classifying

    • D. 

      Summarizing

    • E. 

      Analysis and interpretation

  • 13. 
    Which one is better defined as Money measurement concept?
    • A. 

      Every business is a separate entity from the proprietor. Business & owners are distinct.

    • B. 

      All transaction is to be recorded in the books of accounts at this cost price when purchased, not on market price.

    • C. 

      Every transaction has dual effect. If there is a debit then there has to be a corresponding credit of equal amount.

    • D. 

      Record only those transactions in the book of accounts, which can be expressed in terms of money.

  • 14. 
    The term in proprietor in tally is used as
    • A. 

      A person who credits the goods to the company for a period

    • B. 

      A person to whom company lends money in advance

    • C. 

      Investor of money in any company

    • D. 

      None of these

  • 15. 
    • A. 

      Payment voucher

    • B. 

      Memo voucher

    • C. 

      Debit voucher

    • D. 

      Credit voucher

    • E. 

      Journal voucher

  • 16. 
    • A. 

      True

    • B. 

      False

  • 17. 
    Whether the business is in profit or loss during the period covered by the trial balance. A trading and profit and loss account is prepared for this purpose. Which account reveals this fact?
    • A. 

      Real A/c

    • B. 

      Nominal A/c

    • C. 

      Final A/c

    • D. 

      Tangible A/c

  • 18. 
    What is the short key in tally for printing the sale voucher?
    • A. 

      Ctrl+P

    • B. 

      Ctrl+Alt+P

    • C. 

      Alt+P

    • D. 

      None of these

  • 19. 
    Balance sheet is a _______________.
    • A. 

      Statement of assets and liabilities a company.

    • B. 

      Statement of Voucher entries

    • C. 

      Statement of codes of accounting

    • D. 

      None of above

  • 20. 
    Restore option is used to store the data of another drive to your hard disk.
    • A. 

      True

    • B. 

      False

  • 21. 
    • A. 

      Transactions > Ledgers > Journal > Trail Balance > Balance Sheet

    • B. 

      Ledgers > Transactions > Journal > Trail Balance > Balance Sheet

    • C. 

      Transactions > Journal > Ledgers >Trail Balance > Balance Sheet

    • D. 

      Journal > Transactions > Ledgers > Trail Balance > Balance Sheet

  • 22. 
    • A. 

      True

    • B. 

      False

  • 23. 
    This button of button area is used to switch between the selected companies.
    • A. 

      F3

    • B. 

      Alt + F3

    • C. 

      F1

    • D. 

      Alt + F1

  • 24. 
    Suspense account is used ______________________.
    • A. 

      To keep track of money which we don’t want to show in balances sheet, whose transaction is not yet known.

    • B. 

      It is used to holds indirect income of the company for e.g. income by selling the goods.

    • C. 

      Records of all investment bonds, shares etc.

    • D. 

      None of above.

  • 25. 
    Assets are the property of _____________.
    • A. 

      Debtor

    • B. 

      Owner

    • C. 

      Creditor

    • D. 

      None of these