Tally MCQ Exam 2016

60 Questions

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Tally MCQ Exam 2016


Questions and Answers
  • 1. 
    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

  • 2. 
    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

  • 3. 
    Which of the following is not an account type?
    • A. 

      Personal Accounts

    • B. 

      Real Accounts

    • C. 

      Occasional account

    • D. 

      Nominal account

  • 4. 
    Term loans & other medium /long _term loans comes under __________Group
    • A. 

      Unsecured Loan

    • B. 

      Secured Loan

    • C. 

      Loans & Advances

    • D. 

      Current liability

  • 5. 
    ____________is beginning date of financial year
    • A. 

      1st January

    • B. 

      1st February

    • C. 

      1st March

    • D. 

      1st April

  • 6. 
    Manufacturing expenses comes under___________ Group
    • A. 

      Expenses (Indirect)

    • B. 

      Miss Expenses

    • C. 

      Direct Expenses

    • D. 

      None

  • 7. 
    Which financial statement can be made from Trial Balance?
    • A. 

      Ledger

    • B. 

      Purchases

    • C. 

      Sales

    • D. 

      Balance sheet

  • 8. 
     In case of personal accounts the receiver is
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Both

    • D. 

      Balance entered in voucher

  • 9. 
    • 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

  • 10. 
    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

  • 11. 
    _____________is a Reserved group which goes to liabilities
    • A. 

      Capital A/C

    • B. 

      Fixed Asset

    • C. 

      Investment

    • D. 

      Sundry debtors

  • 12. 
    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

  • 13. 
    Sales purchase A/C groups are reflected in _____________
    • A. 

      Profit & loss A/C

    • B. 

      Balance sheet

    • C. 

      Journal Register

    • D. 

      None of the above

  • 14. 
    Trial Balance contains ___________ balance of all accounts
    • A. 

      Closing

    • B. 

      Only credit

    • C. 

      Opening

    • D. 

      None

  • 15. 
    Under Group _______________ can be created
    • A. 

      Vouchers

    • B. 

      Date

    • C. 

      Multiple Ledgers

    • D. 

      All above

  • 16. 
    Closing stock appears in _______________
    • A. 

      Balance Sheet

    • B. 

      Trial Balance

    • C. 

      Profit & loss A/C

    • D. 

      None of the above

  • 17. 
    Cash in hand & bank A./C balance helps for______________
    • A. 

      Inventory control

    • B. 

      Payment Decision

    • C. 

      Sales performance

    • D. 

      All above

  • 18. 
    Changes carried out in F12 are ______________
    • A. 

      Global & will be effective for all working companies

    • B. 

      Not Global will not be effective for all working companies

    • C. 

      Affected to that particular company only

    • D. 

      None of the above

  • 19. 
    Restoration of data is ____________
    • A. 

      Re-entering the data

    • B. 

      Process of getting back the earlier data in Hard disk

    • C. 

      Process of keeping a copy of the data in another place

    • D. 

      All above

  • 20. 
    _________Can not be printed in a Quick Format
    • A. 

      Trial Balance

    • B. 

      Balance Sheet

    • C. 

      Cheque

    • D. 

      Ledger

  • 21. 
    _________Vouchers is a pure inventory voucher
    • A. 

      Cash Paid Creditor

    • B. 

      Delivery Note

    • C. 

      Material rejection entry

    • D. 

      Expenses

  • 22. 
    Inventory Management comprises of _________
    • A. 

      Delivery In

    • B. 

      Delivery Out

    • C. 

      Inventory control

    • D. 

      All of above

  • 23. 
    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

  • 24. 
    Memorandum Voucher is used to
    • A. 

      Enter entry having multiple account effect

    • B. 

      For entries regarding bank overdraft

    • C. 

      Remind entry which may have effect in future

    • D. 

      None of these

  • 25. 
    • A. 

      Contra

    • B. 

      Payment

    • C. 

      Capital

    • D. 

      Receipt

  • 26. 
    In case of personal Accounts Credit effect goes with
    • A. 

      Sometimes to giver & sometimes to taker

    • B. 

      Bank Account

    • C. 

      The Receiver

    • D. 

      The Giver

  • 27. 
     In each & every entry Debit & Credit balance must be equal
    • A. 

      Not necessary in Contra entry

    • B. 

      Above statement is true

    • C. 

      This is applicable in payment type entries only

    • D. 

      None of the above

  • 28. 
    Duties & Taxes is considered as ___________________ in accounting groups.
    • A. 

      Current liabilities

    • B. 

      Current assets

    • C. 

      Fixed assets

    • D. 

      Taxes

  • 29. 
    The supplier of the company belongs to ___________________ group in accounting
    • A. 

      Supplier

    • B. 

      Sundry debtor

    • C. 

      Sundry creditor

    • D. 

      Sundry Customer

  • 30. 
    VAT stands for ___________________
    • A. 

      Value Added Tax

    • B. 

      Valuable At Tax

    • C. 

      Value Added Tally

    • D. 

      VAT Stands TAX

  • 31. 
    ______________________ is the short key to change period in tally
    • A. 

      Ctrl + F2

    • B. 

      Alt + F2

    • C. 

      Alt + F1

    • D. 

      F2

  • 32. 
    Fax machine is a ____________ asset.
    • A. 

      Fixed

    • B. 

      Direct

    • C. 

      Current

    • D. 

      None

  • 33. 
    Use Alt + F7 for________________
    • A. 

      Journal

    • B. 

      Stock journal

    • C. 

      Goods out

    • D. 

      None

  • 34. 
    Tally is---------------Software
    • A. 

      Computerize Accounting

    • B. 

      Manual Accounting

    • C. 

      Operating System

    • D. 

      Language

  • 35. 
    TDS deduction ____________________ key used
    • A. 

      ALT + T

    • B. 

      ALT + S

    • C. 

      ALT + Q

    • D. 

      ALT + G

  • 36. 
    Tally package is developed by
    • A. 

      Peutronics

    • B. 

      Tally solutions

    • C. 

      Coral software

    • D. 

      Vedika software

  • 37. 
    • A. 

      It will lock the period of company

    • B. 

      It will lock all voucher entries for that company

    • C. 

      It will no show the company name in the Company Select List.

    • D. 

      None of these

  • 38. 
    We can show bill wise details of debtors and creditor by activating
    • A. 

      Bill by bill tivating

    • B. 

      Maintain bill wise details

    • C. 

      Maintain reference

    • D. 

      None of these

  • 39. 
    What is TAN?
    • A. 

      Tax Absorb Number

    • B. 

      Tax Assign Number

    • C. 

      Tax Account Number

    • D. 

      Tax Assessment Number

  • 40. 
    The shortcut key to quit from Tally is
    • A. 

      Ctrl + P

    • B. 

      Ctrl + Q

    • C. 

      Ctrl + M

    • D. 

      Ctrl + L

  • 41. 
    Manufacturing Journal creates based on
    • A. 

      Journal

    • B. 

      Purchase Quotation

    • C. 

      Stock Journal

    • D. 

      Receipt Note

  • 42. 
    Sales Tax Ledger falls under which Group?
    • A. 

      Sales

    • B. 

      Purchases

    • C. 

      Duties and Taxes

    • D. 

      Indirect Expenses

  • 43. 
    Single Entry mode is applicable for
    • A. 

      Receipt Voucher

    • B. 

      Payment Voucher

    • C. 

      Contra Voucher

    • D. 

      All of these

  • 44. 
    To change Current Date from Gateway of Tally press the key
    • A. 

      F1

    • B. 

      F2

    • C. 

      F5

    • D. 

      F9

  • 45. 
    BOM represents
    • A. 

      Bill Of Maintenance

    • B. 

      Bill Of Materials

    • C. 

      Billing Of Machines

    • D. 

      Billing Of Machine

  • 46. 
    F12 is known as
    • A. 

      Company Configuration

    • B. 

      Tax

    • C. 

      Accounting Features

    • D. 

      Company Features

  • 47. 
    What is MRP?
    • A. 

      Market Price

    • B. 

      Marginal Price

    • C. 

      Maximum Retail Price

    • D. 

      Minimum Retail Price

  • 48. 
    While exporting Ledgers from Tally to Web Page, we use
    • A. 

      ASCII Format

    • B. 

      XML Format

    • C. 

      SDF Format

    • D. 

      HTML Format

  • 49. 
    We can cancel a voucher using
    • A. 

      Alt + X

    • B. 

      Ctrl + X

    • C. 

      Shift + X

    • D. 

      Ctrl + Shift + X

  • 50. 
    The shortcut used to activate calculator is
    • A. 

      Ctrl + M

    • B. 

      Ctrl + N

    • C. 

      Ctrl + A

    • D. 

      Ctrl + M

  • 51. 
    TDS deduction entry can be made through
    • A. 

      Payment Voucher

    • B. 

      Journal Voucher

    • C. 

      Receipt Voucher

    • D. 

      All of these

  • 52. 
    Payroll Auto fill is done through
    • A. 

      Alt + A

    • B. 

      Alt + B

    • C. 

      Ctrl + A

    • D. 

      Ctrl + B

  • 53. 
    There are ......... predefined ledgers.
    • A. 

      1

    • B. 

      2

    • C. 

      3

    • D. 

      4

  • 54. 
    Find out which is not a Default Ledger in Tally.
    • A. 

      Profit and Loss

    • B. 

      Cash in Hand

    • C. 

      Capital Account

    • D. 

      None of these

  • 55. 
    To see any report in detailed way, press
    • A. 

      Alt + F2

    • B. 

      Alt + F1

    • C. 

      F3

    • D. 

      Alt + D

  • 56. 
    Transfer from Main Cash to Petty Cash/Bank you require to pass........... Voucher.
    • A. 

      Voucher

    • B. 

      Contra

    • C. 

      Payment

    • D. 

      Receipt

  • 57. 
    We can switch from Accounting Voucher to Inventory Voucher pressing
    • A. 

      F11

    • B. 

      F12

    • C. 

      Alt + F1

    • D. 

      Ctrl + F1

  • 58. 
    Recording of actual stock as physically verified or counted is done through
    • A. 

      Journal

    • B. 

      Sales

    • C. 

      Stock Journal

    • D. 

      Physical Stock

  • 59. 
    To print a voucher from Tally we need to press
    • A. 

      Ctrl + P

    • B. 

      Ctrl + Alt + P

    • C. 

      Shift + P

    • D. 

      Alt + P

  • 60. 
    To create Purchase Order press
    • A. 

      Ctrl + F4

    • B. 

      F4

    • C. 

      Alt + F4

    • D. 

      Alt + F3