Tally ERP 9 Functions And Shortcuts: Quiz!
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Questions and Answers
- 1.
______________ shortcut is used to shut a company in Gateway of Tally.ERP 9.
- A.
Alt + S
- B.
Alt + F4
- C.
Alt + F1
- D.
Alt + F3
Correct Answer
C. Alt + F1Explanation
The shortcut "Alt + F1" is used to shut a company in Gateway of Tally.ERP 9. This means that when a user presses "Alt + F1" on their keyboard while using Tally.ERP 9, it will close the currently open company and take the user back to the Gateway screen.Rate this question:
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- 2.
The Shortcut key is used to select Company is Tally is:
- A.
Alt+F3
- B.
Alt+F1
- C.
F1
- D.
F4
Correct Answer
C. F1Explanation
The shortcut key F1 is used to select the company in Tally.Rate this question:
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- 3.
Which submenu is used to create new ledgers, groups, and voucher types in Tally?
- A.
Inventory Vouchers
- B.
Accounting Vouchers
- C.
Company Info
- D.
Account Info
Correct Answer
D. Account InfoExplanation
The submenu used to create new ledgers, groups, and voucher types in Tally is Account Info.Rate this question:
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- 4.
Tally Shortcut for Debit Note & Credit Note.
- A.
Alt+F8 & Alt+F8
- B.
CTRL+ F8 &CTRL+F7
- C.
ALT+F9 & ALT+ F8
- D.
CTRL+F9 & CTRL+F8
Correct Answer
D. CTRL+F9 & CTRL+F8Explanation
The correct answer is CTRL+F9 & CTRL+F8. These shortcut keys are used in Tally for creating a Debit Note and Credit Note respectively. By pressing CTRL+F9, a user can quickly create a Debit Note entry, which is used to record the increase in expenses or decrease in income. Similarly, by pressing CTRL+F8, a user can create a Credit Note entry, which is used to record the decrease in expenses or increase in income. These shortcuts help in speeding up the data entry process in Tally.Rate this question:
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- 5.
Tally provides an option to post stock value from the Inventory directly to the balance sheet.
- A.
Multiple Accounting
- B.
Non Integrated Accounts
- C.
Integrated Account & Inventory
- D.
All of the Above
Correct Answer
C. Integrated Account & InventoryExplanation
Tally provides an option to post stock value from the Inventory directly to the balance sheet. This means that Tally allows for the integration of the accounting and inventory functions, allowing the stock value to be reflected in the balance sheet. This ensures that the financial statements accurately represent the value of the inventory and its impact on the overall financial position of the company. Therefore, the correct answer is Integrated Account & Inventory.Rate this question:
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- 6.
Balance Sheet display__________________
- A.
Bank and cash Balances
- B.
Balances of all individual account
- C.
Entire summary of the all Transaction
- D.
Exact financial position of the business on specific date
- E.
Option 5
- F.
Option 6
Correct Answer
D. Exact financial position of the business on specific dateExplanation
The balance sheet is a financial statement that displays the exact financial position of a business on a specific date. It includes the balances of bank and cash accounts, as well as the balances of all individual accounts. The balance sheet provides a summary of all transactions and helps stakeholders understand the overall financial health of the business at a given point in time.Rate this question:
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- 7.
______________ Vouchers is a pure inventory voucher.
- A.
Payment
- B.
Delivery Note
- C.
Cash Paid Creditor
- D.
Expenses
Correct Answer
B. Delivery NoteExplanation
A delivery note is a document that is used to record the details of goods being delivered to a customer. It serves as proof of delivery and includes information such as the quantity, description, and condition of the goods. Unlike the other options listed, a delivery note specifically relates to inventory management and is used to update the inventory records. Therefore, it can be considered a pure inventory voucher.Rate this question:
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- 8.
Journal book is used to:
- A.
Records all the Ledgers
- B.
Entries regarding general transactions
- C.
Records all sales and purchase transactions
- D.
To records all the non-cash transactions only
Correct Answer
B. Entries regarding general transactionsExplanation
A journal book is used to record entries regarding general transactions. This means that any transaction that occurs within a business, whether it is a sale, purchase, or any other type of transaction, will be recorded in the journal book. It serves as a chronological record of all the transactions that take place, allowing for easy reference and analysis of the business's financial activities.Rate this question:
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- 9.
How many types of companies can be created in Tally ERP9?
- A.
2
- B.
3
- C.
4
- D.
5
Correct Answer
A. 2Explanation
Tally ERP9 allows the creation of two types of companies. This means that users can create either a single company or a multiple company in Tally ERP9.Rate this question:
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- 10.
Divide company data into two financial years from the Company .info menu is possible by selecting the option:
- A.
New Company
- B.
Split Company Data
- C.
Alter
- D.
Change Tally Vault
Correct Answer
B. Split Company DataExplanation
The option "Split Company Data" allows users to divide the company data into two financial years. This feature is useful when a company wants to separate their financial records for different years, making it easier to manage and analyze the data. By selecting this option, users can specify the start and end dates for each financial year, ensuring accurate and organized financial reporting.Rate this question:
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- 11.
Closing Stock appears in_________________
- A.
Trail Balance
- B.
Profit & Loss
- C.
Balance Sheet
- D.
Journal Voucher
Correct Answer
C. Balance SheetExplanation
Closing stock appears in the Balance Sheet because it represents the value of unsold goods at the end of the accounting period. It is considered as an asset and is included in the current assets section of the balance sheet. The value of closing stock is important for determining the cost of goods sold and calculating the gross profit.Rate this question:
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- 12.
Rates & Taxes comes under ____________ Groups.
- A.
Incomes
- B.
Duites & Taxes
- C.
Expenditure
- D.
To record all the non-cash transactions only
Correct Answer
B. Duites & TaxesExplanation
The correct answer is "Duites & Taxes". Rates & Taxes are a type of duty or tax that individuals or businesses are required to pay to the government. Therefore, it falls under the Duties & Taxes group.Rate this question:
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- 13.
Which option is used to import data from a pen drive or CD to an Appropriate place in Tally?
- A.
Backup
- B.
Restore
- C.
Import
- D.
5
Correct Answer
A. BackupExplanation
The correct answer is "Backup". In Tally, the option to import data from a pen drive or CD to an appropriate place is done through the backup feature. By creating a backup of the data stored in the pen drive or CD, it can be easily imported and restored to the desired location in Tally. This ensures that the data is safely transferred and integrated into the Tally software.Rate this question:
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- 14.
The shortcut key provided to shut opened company in tally is:
- A.
F3
- B.
F1
- C.
Alt +F1
- D.
Alt +F3
Correct Answer
C. Alt +F1Explanation
The correct answer is Alt + F1. This shortcut key is used to shut down the opened company in Tally. By pressing Alt + F1, the user can quickly close the current company and return to the company selection screen. This shortcut saves time and provides a convenient way to switch between different companies in Tally.Rate this question:
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- 15.
The shortcut key used to print any report in Tally is: Alt+P
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The shortcut key Alt+P is used to print any report in Tally.Rate this question:
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- 16.
The shortcut key available to view features in Tally is Alt+F11.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The correct answer is False. The shortcut key available to view features in Tally is not Alt+F11.Rate this question:
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- 17.
The option given in Tally to make changes in the created company is:
- A.
Alter
- B.
Select company
- C.
Shut comapny
- D.
Modify Company
Correct Answer
A. AlterExplanation
The option given in Tally to make changes in the created company is "Alter". This option allows users to modify or edit the company details such as name, address, financial year, and other related information. It also provides the flexibility to make changes in various settings and configurations of the company as per the user's requirements.Rate this question:
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- 18.
In tally,"credit note"voucher type records entry for _____________
- A.
Purchase return
- B.
Sales return
- C.
Inventory control
- D.
Both(A)and(B)
Correct Answer
B. Sales returnExplanation
The "credit note" voucher type in Tally records entry for sales return. This means that when a customer returns a product, a credit note is issued to record the return and adjust the sales transaction. This helps in maintaining accurate sales records and inventory control.Rate this question:
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- 19.
Trail Balance contains_______balance of all accounts.
- A.
Backup
- B.
Only credit
- C.
Closing
- D.
Opening
Correct Answer
A. BackupExplanation
The correct answer is "Backup". The trial balance contains the backup balance of all accounts. This means that it includes both the debit and credit balances of each account to ensure that the total debits equal the total credits in the accounting system. The backup balance is used to verify the accuracy of the financial records and to prepare financial statements.Rate this question:
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- 20.
Salary Account comes under which of the following head?
- A.
Direct Incomes
- B.
Direct Expenses
- C.
Indirect Incomes
- D.
Indirect Expenses
Correct Answer
D. Indirect ExpensesExplanation
A salary account is considered an indirect expense because it is an expense incurred by a company for the benefit of its employees. It is not directly related to the production or sale of goods or services, but it is necessary for the smooth functioning of the business. Indirect expenses are costs that cannot be directly attributed to a specific product or service, but are necessary for the overall operation of the business.Rate this question:
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- 21.
The option used to exit Tally is close:
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The option used to exit Tally is not "close". In Tally, the correct option to exit the software is "shut down". Choosing the "close" option will not close the Tally software completely, it will only minimize it. Therefore, the given answer is false.Rate this question:
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- 22.
The option used to view the list of Primary and Secondary groups in Tally ERP9 is:
- A.
Accounts
- B.
List
- C.
List of Accounts
- D.
Both [B] and [C]
Correct Answer
C. List of AccountsExplanation
The option "List of Accounts" is used to view the list of Primary and Secondary groups in Tally ERP9. This option provides a comprehensive view of all the accounts in the system, including both primary and secondary groups. It allows users to easily navigate and access the necessary information related to these groups.Rate this question:
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- 23.
Which Shortcut key is used to view next level details of the item on the same screen?
- A.
Ctrl+R
- B.
Shift+R
- C.
Shift +Enter
- D.
Ctrl+Enter
Correct Answer
B. Shift+RExplanation
Shift+R is the correct answer because it is the shortcut key used to view the next level details of an item on the same screen. By pressing Shift+R, the user can quickly access additional information or expand the details of an item without navigating to a different page or screen. This shortcut helps in improving productivity and efficiency by allowing users to quickly access and view detailed information without interrupting their workflow.Rate this question:
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- 24.
Which shortcut key is used to export data of any company in Microsoft Excel spreadsheet, SDF, HTML, or XML format?
- A.
Alt+O
- B.
Alt+S
- C.
Alt+E
- D.
Alt+P
Correct Answer
C. Alt+EExplanation
Alt+E is the correct answer because in Microsoft Excel, the "Alt" key is used to access the menu options. Pressing "Alt+E" opens the "Export" menu, which allows the user to export data in different formats such as SDF, HTML, or XML.Rate this question:
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- 25.
In Tally, Manufacturing expenses come under in which group?
- A.
Direct Expenses
- B.
Indirect Expenses
- C.
Miss Expenses
- D.
None of the above
Correct Answer
A. Direct ExpensesExplanation
Manufacturing expenses come under the group of Direct Expenses in Tally. Direct expenses are those expenses that can be directly traced to the production process or the manufacturing of goods. These expenses are incurred specifically for the production activities and are directly related to the manufacturing process. Therefore, manufacturing expenses are categorized as Direct Expenses in Tally.Rate this question:
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- 26.
In Tally, the contra voucher type is used to transfer the amount from one bank to another?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The contra voucher type in Tally is indeed used to transfer the amount from one bank to another. This type of voucher is specifically designed for recording transactions that involve cash or bank transfers. It allows users to transfer funds between different bank accounts within the software, making it convenient for managing financial transactions. Therefore, the given answer, "True," is correct.Rate this question:
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- 27.
_________________is the function of tally vault.
- A.
Ledger account
- B.
Cost category
- C.
Company configuration
- D.
Security mechanism
Correct Answer
D. Security mechanismExplanation
The correct answer is "Security mechanism." This is because a tally vault is a feature in Tally software that provides a secure storage area for sensitive and confidential data. It acts as a security mechanism by encrypting the data and protecting it from unauthorized access. The tally vault ensures the integrity and confidentiality of the data stored in it, making it an essential security feature in the software.Rate this question:
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- 28.
In tally, Memorandum Voucher is used to
- A.
For entries regarding bank overdraft
- B.
Remind entry which may have effect in future
- C.
Enter entry having multiple account effect
- D.
None of these
Correct Answer
B. Remind entry which may have effect in futureExplanation
The Memorandum Voucher in Tally is used to remind an entry that may have an effect in the future. It is a non-accounting voucher that helps in keeping track of transactions that are not yet complete or finalized. This voucher is used to temporarily record transactions that are not meant to be included in the books of accounts. It serves as a reminder to complete or finalize the transaction at a later date.Rate this question:
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- 29.
All expenses and losses always having ____________
- A.
Credit balance
- B.
Debit balance
- C.
Balance entered in voucher
- D.
Exact difference balance
Correct Answer
B. Debit balanceExplanation
Debit balance is the correct answer because expenses and losses are recorded on the debit side of an account. A debit balance indicates that the total debits exceed the total credits in an account, meaning that there are more expenses and losses than income and gains. Therefore, all expenses and losses always result in a debit balance.Rate this question:
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- 30.
GST is applied on which of the following incomes?
- A.
Professional fee
- B.
Commission of lottery ticket
- C.
Salary Income
- D.
All of these
Correct Answer
D. All of theseExplanation
GST is applied on all of these incomes, including professional fees, commission of lottery tickets, and salary income. GST, or Goods and Services Tax, is a consumption tax levied on the supply of goods and services. It is applicable to various types of income, including income earned from professional services, commissions, and salaries. Therefore, all the options listed in the question are subject to GST.Rate this question:
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- 31.
Which key is pressed to post entries in the double-entry accounting system, instead of a single entry system in Tally.ERP9?
- A.
F11
- B.
F12
- C.
Alt+F11
- D.
Alt+F12
Correct Answer
B. F12Explanation
In Tally.ERP9, the F12 key is pressed to post entries in the double-entry accounting system. This key is used specifically for this purpose instead of a single entry system.Rate this question:
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- 32.
Where do we record all types of adjustment entries in Tally?
- A.
F5:Payment
- B.
F6:Receipt
- C.
F7:Journal
- D.
F4:Contra
Correct Answer
C. F7:JournalExplanation
In Tally, all types of adjustment entries are recorded in the Journal. The Journal is used to record transactions that do not involve cash or bank accounts, such as adjusting entries for depreciation, accruals, prepayments, etc. The Journal entry allows for the accurate recording of these adjustments and ensures that the financial statements reflect the correct financial position of the company.Rate this question:
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- 33.
Which shortcut key is pressed and then? yes? is given in? Use Debit/Credit Noted? to post an entry in Credit Note and Debit Note in Tally
- A.
Alt+F11
- B.
F11
- C.
F12
- D.
Alt+F12
Correct Answer
B. F11Explanation
Pressing the F11 shortcut key in Tally allows the user to access the "Accounting Vouchers" menu. From there, they can select the option to post an entry in Credit Note and Debit Note. Therefore, the correct answer is F11.Rate this question:
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- 34.
F7: Journal voucher type credit purchase entry is posted in Tally.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because in Tally, journal voucher type is not used for recording credit purchase entries. Instead, the purchase voucher type is used for recording credit purchases in Tally.Rate this question:
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- 35.
F8: Sales voucher type credit sales are recorded in Tally.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
In Tally, sales voucher type credit sales are recorded. This means that when a sale is made on credit, it is recorded using the sales voucher type in Tally. This allows for accurate tracking and recording of credit sales in the Tally software. Therefore, the statement "Sales voucher type credit sales are recorded in Tally" is true.Rate this question:
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- 36.
Which shortcut key is used in? Company Features? Screen to use Statutory &taxation in Tally
- A.
F3
- B.
F4
- C.
F2
- D.
F1
Correct Answer
A. F3Explanation
The shortcut key "F3" is used in the Company Features screen to access the Statutory & taxation options in Tally. This shortcut allows users to quickly navigate to the relevant section and make necessary changes or updates related to statutory compliance and taxation requirements.Rate this question:
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- 37.
___________ key is used to post entry in Debit Note in tally.
- A.
F7
- B.
F8
- C.
Ctrl+F9
- D.
Ctrl+F8
Correct Answer
C. Ctrl+F9Explanation
Ctrl+F9 is the correct answer because in Tally, the Ctrl+F9 key combination is used to post an entry in a Debit Note. This key combination is specifically assigned for this purpose in the software. The other options (F7, F8, and Ctrl+F8) do not have this specific function in Tally.Rate this question:
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- 38.
Which shortcut key is used to view Report With all details in Tally 3.
- A.
F1
- B.
Alt+F1
- C.
F3
- D.
F1
Correct Answer
B. Alt+F1Explanation
Alt+F1 is the shortcut key used to view the report with all details in Tally 3. This key combination allows users to access a comprehensive report that includes all relevant information and details. By pressing Alt+F1, users can quickly and easily view the report they need without having to navigate through multiple menus or options. This shortcut key is designed to improve efficiency and streamline the reporting process in Tally 3.Rate this question:
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- 39.
In General the financial year from shall be from;
- A.
1st April of any year
- B.
31st March of any year
- C.
All of them are true
- D.
None of these
Correct Answer
A. 1st April of any yearExplanation
The correct answer is 1st April of any year. This is because in general, the financial year starts from 1st April of a year and ends on 31st March of the following year. This is the standard practice followed in many countries for financial reporting and taxation purposes.Rate this question:
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- 40.
The part account can be created through the Ledger creation window.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because the creation of an account in accounting is typically done through the Ledger creation window. This window allows users to input the necessary information and settings for the account, such as the account name, account type, and account number. By using this window, users can easily create and set up new accounts in the ledger, ensuring accurate and organized record-keeping for financial transactions.Rate this question:
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- 41.
Bottom of Tally Screen Shows.
- A.
Button bar
- B.
List of Vouchers
- C.
List of Companies
- D.
Calculator
Correct Answer
D. CalculatorExplanation
The bottom of the Tally screen shows a calculator. This is a feature that allows users to perform calculations directly within the Tally software. It provides convenience and efficiency by eliminating the need to switch between Tally and a separate calculator application. With the calculator readily available at the bottom of the screen, users can quickly and accurately perform calculations while working on their financial data or transactions in Tally.Rate this question:
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- 42.
_____________button help to connect data form spreadsheet or other application.
- A.
E-mail
- B.
Help
- C.
Export
- D.
Browser
Correct Answer
C. ExportExplanation
The Export button helps to connect data from a spreadsheet or other application. By clicking on the Export button, users can transfer or export data from one application to another, such as exporting data from a spreadsheet to a database or exporting data from an application to a file format that can be used by another program. This button is commonly used in software or applications that involve data management and integration.Rate this question:
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- 43.
For entries involvoing both cash and Bank transactions we use ____________ vouchers.
- A.
Contra voucher
- B.
Journal
- C.
Sales
- D.
Purchase
Correct Answer
A. Contra voucherExplanation
When there are transactions involving both cash and bank, we use Contra vouchers. Contra vouchers are used to record transactions that involve the transfer of funds between cash and bank accounts. These vouchers help in maintaining accurate records of cash and bank balances and ensure that the transactions are properly recorded in the books of accounts.Rate this question:
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- 44.
Adjustment entries can be entered in the Sales voucher.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Adjustment entries cannot be entered in the Sales voucher. Sales vouchers are used to record the sale of goods or services to customers, and they are not meant for recording adjustments or corrections. Adjustment entries are typically entered in separate journal vouchers or adjustment vouchers, which are specifically designed for making adjustments to the accounts. Therefore, the given statement is false.Rate this question:
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- 45.
Multiple Godown are activated from:
- A.
F11
- B.
F11< F1
- C.
F11<F2
- D.
F11<F3
Correct Answer
C. F11<F2Explanation
The given answer suggests that the activation of multiple godowns is based on the condition that F11 is less than F2. This means that if the value of F11 is smaller than the value of F2, then the godowns will be activated. This implies that F2 is considered to be more important or significant than F11 in determining the activation of the godowns.Rate this question:
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- 46.
To use Dr/Cr instead of To/By during Voucher entry vice versa, Press
- A.
F10
- B.
F12
- C.
F11
- D.
None of these
Correct Answer
B. F12Explanation
Pressing F12 during voucher entry allows the user to toggle between using "To/By" and "Dr/Cr" for entering the debit and credit amounts. This means that if the user initially entered the amounts using "To/By", pressing F12 will switch to using "Dr/Cr" and vice versa.Rate this question:
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- 47.
The shortcut used for sales order is_______________
- A.
Alt+F4
- B.
Alt+F5
- C.
Alt+F7
- D.
Alt+F8
Correct Answer
B. Alt+F5Explanation
The shortcut used for sales order is Alt+F5. This shortcut is commonly used in various software applications to quickly access or perform a specific function. In the context of sales order, pressing Alt+F5 may open a new sales order window or bring up a sales order form for data entry or editing. It provides a convenient and efficient way for users to navigate and work with sales orders without having to manually search for the corresponding menu options or buttons.Rate this question:
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- 48.
Which shortcut key is used to post an entry in Debit Note in tally?
- A.
F7
- B.
F8
- C.
Ctrl+F9
- D.
Ctrl+F8
Correct Answer
C. Ctrl+F9Explanation
Ctrl+F9 is the correct shortcut key used to post an entry in Debit Note in Tally. This shortcut key allows users to quickly and efficiently post a debit note entry without the need for manual navigation through the software's menus and options. By pressing Ctrl+F9, users can save time and streamline their workflow when working with debit notes in Tally.Rate this question:
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