Tally Accounting Trivia Quiz

25 Questions | Total Attempts: 2869

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Tally Accounting Trivia Quiz

A tally is application software used to ease the accounting function of a business by reducing paperwork and allowing an accountant to easily edit and input data within the system. Having being introduced to the system it is important to ensure that you are up to the task on what is expected of you. Below is a Tally accounting trivia Max time: 30 Minutes No. Of Questions: 25. All the best.


Questions and Answers
  • 1. 
    Why is F1 used?
    • 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. 
    What is the use of direct command?
    • A. 

      Analysis

    • B. 

      Interpretation

    • C. 

      Calculation

    • D. 

      Classification

  • 7. 
    If receptionist of Kamla travels charged Mr. Manish 1650 for 3 tickets from Delhi to Lucknow, so which transaction voucher will be filled?
    • A. 

      Payment Voucher

    • B. 

      Receipt Voucher

    • C. 

      Sale Voucher

    • D. 

      Memo Voucher

  • 8. 
    Mesh InfoTech purchased the goods of 5,000 Rs. from a sundry creditor Ramesh, which statement is correct?
    • 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. 
    F4 button is used to ___________.
    • 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. 
    Credit was comes in Debit what goes out is ____________.
    • A. 

      True

    • B. 

      False

  • 12. 
    Accounting Process contains following steps
    • 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. 
    Which voucher provides debit note and credit note options?
    • A. 

      Payment voucher

    • B. 

      Memo voucher

    • C. 

      Debit voucher

    • D. 

      Credit voucher

    • E. 

      Journal voucher

  • 16. 
    There may be several transactions relating to one particular account.
    • 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. 
    Which is the correct order of accounting cycle?
    • 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. 
    Tally is accounting software with coding.
    • 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

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