Quiznetik
Computerized Accounting Software | Set 2
1. What is the advantage of a computer-based transaction processing system?
A. Does not require as stringent a set of internal controls.
B. Will produce a more accurate set of financial statements.
C. Eliminates the need to reconcile control accounts and subsidiary ledgers.
D. Will be more efficient at producing financial statements.
Correct : D. Will be more efficient at producing financial statements.
2. Which of the following file is usually used as a master file?
A. Inventory subsidiary
B. Cash disbursements.
C. Cash receipts.
D. Payroll tr
Correct : A. Inventory subsidiary
3. How can data be imported in tally ?
A. One company to another company created within Tally Package
B. Other programs - a spreadsheet or a database file.
C. Depends on number of companies
D. Both A and B
Correct : D. Both A and B
4. ------------------ gives the balance for each day for the voucher type has been selected.
A. Trial Balance
B. Daybook
C. Balance Sheet
D. None of the above
Correct : B. Daybook
5. For 'stock journal' entry we press ______________ in tally
A. F7
B. Alt + F7
C. F1
D. F11
Correct : B. Alt + F7
6. Which option lists inventory valuation method in tally?
A. Stock report
B. Stock journal
C. Stock analysis
D. Stock summary
Correct : D. Stock summary
7. How to activate the tally audit feature in a company?
A. Press F11 key
B. During the creation of a company
C. In -comp info -> security control-option
D. Press F12 key
Correct : B. During the creation of a company
8. What is the predefined number of groups in tally?
A. 16
B. 28
C. 128
D. 228
Correct : B. 28
9. Which of the following is used for voucher entry?
A. Ledger Account
B. Groups
C. Sub-Groups
D. Depends on number of companies
Correct : A. Ledger Account
10. Which of the following user type can view audit list?
A. Tally Vault
B. Owner
C. Data Entry
D. Administrator
Correct : D. Administrator
11. How can data be imported in tally?
A. One company to another company created within Tally Package
B. Other programs - a spreadsheet or a database file.
C. Depends on number of companies
D. Both A and B
Correct : D. Both A and B
12. Which of the following can be budgeted in tally?
A. Net Transactions
B. Closing Balance
C. Closing Balance
D. A and B
Correct : D. A and B
13. Which file in tally is used to record the import activity?
A. Tally.dat
B. Tally.ini
C. Tally. Imp
D. None of the above
Correct : A. Tally.dat
14. Which of the following is compulsory to create while entry in Accounts with Inventory?
A. Stock Groups
B. Stock Items
C. Units of Measure
D. All of these
Correct : C. Units of Measure
15. ‘Inventory books’ is used to view
A. Stock Items
B. Group Summary
C. Both A and B above
D. None of these
Correct : B. Group Summary
16. The rate of trade discount varies with the ----------- purchased
A. Total asset
B. Current asset
C. Quantity
D. None of these
Correct : D. None of these
17. A ‘credit note’ is sent by------------- to ----------------
A. Seller, buyer
B. Buyer, seller
C. Customer, seller
D. Creditor, seller
Correct : C. Customer, seller
18. A ‘Debit note’ is a statement sent to the ------------- by the ----------------
A. Seller, buyer
B. Buyer, seller
C. Customer, seller
D. Creditor, seller
Correct : C. Customer, seller
19. for reconciliation of Bank press
A. F12
B. F10
C. F5
D. F6
Correct : C. F5
20. We can cancel a voucher using
A. Alt + X
B. Ctrl + X
C. Shift + X
D. Ctrl + Shift + X
Correct : A. Alt + X
21. Discount Column is available in
A. Sales Invoice
B. Purchase Invoice
C. Both (a) and (b)
D. None of these
Correct : C. Both (a) and (b)
22. We can use Stock Journal for
A. Production and Consumption
B. Inter Godown transfer for stock
C. Both (a) and (b)
D. None of these
Correct : C. Both (a) and (b)
23. “Allow components list details (Bill of Materials)” option is activated for
A. Ledgers
B. Cost Category
C. Stock Items
D. Budgets
Correct : C. Stock Items
24. How can we see Vat Reports?
A. Gateway of Tally > Display
B. Gateway of Tally > Vat Reports
C. Gateway of Tally > Display > Statutory Info
D. Gateway of Tally > Display> Statutory Reports
Correct : D. Gateway of Tally > Display> Statutory Reports
25. By default, which mode is on in Purchase and Sales voucher?
A. Norma Mode
B. Item Invoice Mode
C. Particulars Mode
D. None of these
Correct : B. Item Invoice Mode
26. 'Tally vault' is a _________________
A. Security mechanism
B. Ledger a/c
C. Cost category
D. None of the above
Correct : A. Security mechanism
27. To declare a voucher as Post Dated press
A. Ctrl + T
B. Alt + T
C. Ctrl + P
D. Ctrl + D
Correct : A. Ctrl + T
28. We can get the report of Interest from
A. Account Books
B. Cash and Fund flow
C. Inventory Books
D. Statements of Accounts
Correct : D. Statements of Accounts