Challenging Tally Accounting Quiz

50 Questions | Total Attempts: 117

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Tally Quizzes & Trivia

Questions and Answers
  • 1. 
    Contra entry is used for ___________
    • A. 

      Transaction involves Cash and Bank

    • B. 

      Transactions related to Purchase

    • C. 

      Salaries paid to the employees

    • D. 

      Contracting expenses only

  • 2. 
    All expenses and losses always having:
    • A. 

      Credit balance

    • B. 

      Debit balance

    • C. 

      Exact difference balance

    • D. 

      Balance entered in voucher

  • 3. 
    Tracking number is used in  _____________transaction.
    • A. 

      Bank

    • B. 

      Cash

    • C. 

      All

    • D. 

      Stock item

  • 4. 
    ___________ is the function key for changing date.
    • A. 

      F1

    • B. 

      F2

    • C. 

      F3

    • D. 

      F4

  • 5. 
    Balance sheet display...
    • A. 

      Entire summary of the all ledger accounts

    • B. 

      Balances of all individual account

    • C. 

      Bank and cash Balances

    • D. 

      Exact financial position of the business on specific date

  • 6. 
    Tally is...
    • A. 

      Package, which maintains accounts only

    • B. 

      Which maintains accounts with inventory records

    • C. 

      Which display the detail report trial balance, balance sheet etc

    • D. 

      All are correct

  • 7. 
    Which of the following is not an account type?
    • A. 

      Personal Accounts

    • B. 

      Real Accounts

    • C. 

      Occasional account

    • D. 

      Nominal account

  • 8. 
    Term loans & other medium /long _term loans comes under __________Group.
    • A. 

      Unsecured Loan

    • B. 

      Secured Loan

    • C. 

      Loans & Advances

    • D. 

      Current liability

  • 9. 
    ____________is beginning date of financial year.
    • A. 

      1st January

    • B. 

      1st February

    • C. 

      1st March

    • D. 

      1st April

  • 10. 
    Manufacturing expenses comes under___________ Group.
    • A. 

      Expenses (Indirect)

    • B. 

      Miss Expenses

    • C. 

      Direct Expenses

    • D. 

      None

  • 11. 
    Which financial statement can be made from Trial balance
    • A. 

      Ledger

    • B. 

      Purchases

    • C. 

      Sales

    • D. 

      Balance sheet

  • 12. 
    In case of personal accounts  the receiver is
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Both

    • D. 

      Balance entered in voucher

  • 13. 
    Which of the following information is must to create a company
    • A. 

      Name of the company & Financial year

    • B. 

      Name of the company & Income Tax No

    • C. 

      Name of the company & Sales Tax No

    • D. 

      All Above

  • 14. 
    Journal book is used to
    • A. 

      Records all the entries

    • B. 

      To records all the non-cash transactions only

    • C. 

      Entries regarding general transactions

    • D. 

      All sale and purchase records

  • 15. 
    _____________is a Reserved group which goes to liabilities
    • A. 

      Capital A/C

    • B. 

      Fixed Asset

    • C. 

      Investment

    • D. 

      Sundry debtors

  • 16. 
    Alias is ____________
    • A. 

      To change group name

    • B. 

      Simple mechanism to call an account by another name

    • C. 

      Type of Group

    • D. 

      Type of Ledger

  • 17. 
    Rates & Taxes comes under  ____________ Groups
    • A. 

      Duties &Taxes

    • B. 

      Income

    • C. 

      Expenditure

    • D. 

      None

  • 18. 
    Sales purchase A/C  groups are reflected in _____________
    • A. 

      Profit & loss A/C

    • B. 

      Balance sheet

    • C. 

      Journal Register

    • D. 

      None if the above

  • 19. 
    Limit on single payments is available for_______________
    • A. 

      Only Groups

    • B. 

      Only ledger Accounts

    • C. 

      Group& Ledger

    • D. 

      None of the above

  • 20. 
    System of traversing form  Balance sheet to voucher permitting to view al the
    • A. 

      Special situation

    • B. 

      Tracking

    • C. 

      Audit trail

    • D. 

      None of the above

  • 21. 
    In tally 5.4 _____________ option is  available for maintaining Accounts
    • A. 

      Account only

    • B. 

      Accts-with-Inv

    • C. 

      Inventory only

    • D. 

      All are correct

  • 22. 
    Trial Balance contains ___________ balance of all accounts
    • A. 

      Opening

    • B. 

      Closing

    • C. 

      Only credit

    • D. 

      None

  • 23. 
    Under Group _______________ can be created
    • A. 

      Vouchers

    • B. 

      Date

    • C. 

      Multiple Ledgers

    • D. 

      All above

  • 24. 
    Reports come under exception reports
    • A. 

      Memorandum Vouchers

    • B. 

      Negative stock

    • C. 

      Optional Vouchers

    • D. 

      All above

  • 25. 
    Closing stock appears in _______________
    • A. 

      Balance Sheet

    • B. 

      Trial Balance

    • C. 

      Profit & loss A/C

    • D. 

      None of the above

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