Quiz: Challenging Tally Accounting Test!

45 Questions | Total Attempts: 25438

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Quiz: Challenging Tally Accounting Test!

Can you answer the following questions about Tally? This test quiz contains 45-essential questions of the topic which won't just test you but also build your knowledge base on your wrong answers. So, take this Tally accounting quiz to see how good are you and compare your score to others!


Questions and Answers
  • 1. 
    All expenses and losses are always having...?
    • A. 

      Credit balance

    • B. 

      Debit balance

    • C. 

      Exact difference balance

    • D. 

      Balance entered in voucher

  • 2. 
    Tracking number is used in  _____________transaction.
    • A. 

      Bank

    • B. 

      Cash

    • C. 

      All

    • D. 

      Stock item

  • 3. 
    ___________ is the function key for changing date.
    • A. 

      F1

    • B. 

      F2

    • C. 

      F3

    • D. 

      F4

  • 4. 
    Balance sheet displays...
    • A. 

      The entire summary of all ledger accounts

    • B. 

      Balances of all individual account

    • C. 

      Bank and Cash Balances

    • D. 

      The exact financial position of the business on a specific date

  • 5. 
    Tally is...
    • A. 

      Package, which maintains accounts

    • B. 

      Which maintains accounts with inventory records

    • C. 

      Which display the detail report trial balance, balance sheet, etc

    • D. 

      All are correct

  • 6. 
    Which of the following is not an account type?
    • A. 

      Personal Accounts

    • B. 

      Real Accounts

    • C. 

      Occasional account

    • D. 

      Nominal account

  • 7. 
    Term loans & other medium /long term loans come under __________Group.
    • A. 

      Unsecured Loan

    • B. 

      Secured Loan

    • C. 

      Loans & Advances

    • D. 

      Current Liability

  • 8. 
    ____________is beginning date of financial year.
    • A. 

      1st January

    • B. 

      1st February

    • C. 

      1st March

    • D. 

      1st April

  • 9. 
    Manufacturing expenses come under___________ Group.
    • A. 

      Expenses (Indirect)

    • B. 

      Miss Expenses

    • C. 

      Direct Expenses

    • D. 

      None

  • 10. 
    Which financial statement can be made from Trial balance?
    • A. 

      Ledger

    • B. 

      Purchases

    • C. 

      Sales

    • D. 

      Balance sheet

  • 11. 
    In the case of personal accounts, the receiver is...
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Both

    • D. 

      Balance entered in voucher

  • 12. 
    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

  • 13. 
    Journal book is used to...
    • A. 

      Record all the entries

    • B. 

      To record all the non-cash transactions only

    • C. 

      Record entries regarding general transactions

    • D. 

      All sale and purchase records

  • 14. 
    _____________is a Reserved group which goes to liabilities.
    • A. 

      Capital A/C

    • B. 

      Fixed Asset

    • C. 

      Investment

    • D. 

      Sundry debtors

  • 15. 
    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

  • 16. 
    Rates & Taxes come under ____________Groups.
    • A. 

      Duties & Taxes

    • B. 

      Income

    • C. 

      Expenditure

    • D. 

      None

  • 17. 
    Sales purchase A/C groups are reflected in _____________.
    • A. 

      Profit & loss A/C

    • B. 

      Balance sheet

    • C. 

      Journal Register

    • D. 

      None of the above

  • 18. 
    Limit on single payments is available for_______________.
    • A. 

      Only Groups

    • B. 

      Only ledger Accounts

    • C. 

      Group & Ledger

    • D. 

      None of the above

  • 19. 
    In tally 5.4, _____________ option is  available for maintaining Accounts.
    • A. 

      Account only

    • B. 

      Accts-with-Inv

    • C. 

      Inventory only

    • D. 

      All are correct

  • 20. 
    Trial Balance contains ___________ balance of all accounts.
    • A. 

      Opening

    • B. 

      Closing

    • C. 

      Only credit

    • D. 

      None

  • 21. 
    Under Group _______________ can be created.
    • A. 

      Vouchers

    • B. 

      Date

    • C. 

      Multiple Ledgers

    • D. 

      All of above

  • 22. 
    Reports come under exception reports...
    • A. 

      Memorandum Vouchers

    • B. 

      Negative stock

    • C. 

      Optional Vouchers

    • D. 

      All above

  • 23. 
    Closing stock appears in _______________.
    • A. 

      Balance Sheet

    • B. 

      Trial Balance

    • C. 

      Profit & loss A/C

    • D. 

      None of the above

  • 24. 
    Cash in hand & bank A/C balance helps for______________.
    • A. 

      Inventory control

    • B. 

      Payment Decision

    • C. 

      Sales performance

    • D. 

      None

  • 25. 
    Tally gives the facility to fine tune our control of Budgets over ledger accounts.
    • A. 

      This statement is true

    • B. 

      Tally does not give the facility to fine tune our control of Budgets

    • C. 

      Tally gives the facility to fine tune our control of Budgets over only cost Centers

    • D. 

      Tally gives the facility to fine tune our control of budgets over the group of Accounts

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