Quiznetik

Computerized Accounting with Tally | Set 1

1. Tally package is developed by

Correct : B. Tally Solutions

2. How many type of companies can be created in Tally?

Correct : A. 2

3. Which menu appears after starting Tally for the first time?

Correct : B. Company Info

4. Which shortcut key is pressed to go to company Info. Menu from Gateway of Tally?

Correct : D. Alt+F3

5. Which key is pressed to go to Gateway of Tally from company Info. Menu?

Correct : C. Esc

6. Which option is used in Tally to make changes in created company?

Correct : C. Alter

7. Which option from Company Info. menu is selected to create a new Company in Tally?

Correct : B. Create Company

8. Which option is selected from Company Info Menu to divide company data into two financial years?

Correct : C. Split Company Data

9. Which option is used to copy company’s data into pen drive or CD?

Correct : A. Backup

10. Which option is used to place data taken in pen drive or CD to Appropriate place in Tally?

Correct : B. Restore

11. Which option is used to open company created in Tally?

Correct : C. Select Company

12. Which option is used in Tally to close opened Company?

Correct : B. Shut Company

13. Which shortcut key is used to take print of any report in Tally?

Correct : C. Alt+P

14. Which shortcut key is used to export data of any company in Microsoft Excel spreadsheet or in any other company?

Correct : B. Alt+E

15. Which shortcut key is used for Select Company in Tally?

Correct : C. F3

16. Which shortcut key is used to shut opened company in Tally?

Correct : B. Alt+F1

17. Which shortcut key is used to change current period in Tally?

Correct : B. Alt+F2

18. Which option is used to move from one company to another when more than one companies are open?

Correct : B. Shut Company

19. Which Shortcut key is pressed to create a new company in Tally?

Correct : B. Alt+F3

20. Which Shortcut key is pressed to view features in Tally?

Correct : B. F11

21. Which shortcut key is used to view configure in Tally?

Correct : C. F12

22. Which menu is used to create new ledgers, groups and voucher types in Tally?

Correct : D. Masters

23. Which submenu is used to create new ledgers, groups and voucher types in Tally?

Correct : A. Account Info.

24. With how many types ledger, group and voucher types can be created in Tally?

Correct : A. 2

25. Which submenu is used for voucher entry in Tally?

Correct : B. Account Vouchers

26. Which option is used to exit Tally?

Correct : C. Quit

27. Salary Account comes under which head?

Correct : B. Indirect Expenses

28. How many groups are pre-defined in Tally?

Correct : A. 28

29. How many primary groups are there in Tally?

Correct : C. 15

30. How many secondary groups are there in Tally?

Correct : B. 13

31. Which option is used to view list of Primary and Secondary groups in Tally?

Correct : A. List of Accounts

32. Which ledger is created by Tally automatically as soon as we create a new company?

Correct : D. A and B both

33. Which option is used to make changes in created Groups of Ledgers in Tally?

Correct : C. Alter

34. How many voucher types area readily available in Tally?

Correct : A. 18

35. How many voucher types are provided in Tally to record transactions?

Correct : A. 2

36. Which key is pressed to post entries in double entry accounting system instead of single entry system in Tally.ERP9?

Correct : B. F12

37. Which voucher type is used to transfer amount from one bank to another?

Correct : A. Contra

38. Rs.10, 000 withdrawn from State Bank. In which voucher type this transaction will be recorded?

Correct : C. Contra

39. Where do we record transactions of salary, rent or interest paid?

Correct : D. Payment

40. Where do we record interest received, commission received or rent received in Tally?

Correct : B. Payment

41. Where do we record cash sales in Tally?

Correct : B. Receipt

42. Where do we record credit purchase of furniture in Tally?

Correct : D. Journal

43. Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally?

Correct : A. Journal

44. Where do we record all type of adjustment entry in Tally?

Correct : C. F7:Journal

45. Which shortcut key is pressed and then ‘yes’ is given in “Use Debit/Credit Noted” to post entry in Credit Note and Debit Note in Tally?

Correct : B. F11

46. In which voucher type credit purchase entry is posted in Tally?

Correct : C. F9:Purchase

47. In which voucher type credit sales is recorded in Tally?

Correct : D. F8:Sales

48. Which shortcut key is used in ‘Company Feature’s screen to use Accounting Features in Tally?

Correct : A. F1

49. Which shortcut key is used in ‘Company Features’ screen to use Inventory Features in Tally?

Correct : B. F2

50. Which shortcut key is used in ‘Company Features’ Screen to use Statutory & Taxation in Tally?

Correct : A. F3

51. Which option is used to enable VAT, TDS, and Service Tax etc. in Tally?

Correct : B. Statutory & Taxation

52. Which key is used to post entry in Debit Note in tally?

Correct : C. Ctrl+F9

53. Which key is used to post entry in Debit Note in Tally?

Correct : C. Ctrl+F8

54. Which of the following equation is true for balance sheet?

Correct : D. All of these

55. Which shortcut key is used to view Report with all details in Tally?

Correct : B. Alt + F1

56. How many options related to Company Features are there in F11: Features in Tally?

Correct : A. 3

57. Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc.?

Correct : C. Kgs.

58. Which shortcut key is pressed to display Part No. for automobile industries?

Correct : D. F12

59. Which option is used to view Trial Balance from Gateway of Tally?

Correct : C. Gateway of Tally→ Reports → Display → Trial Balance

60. Which option is true for viewing Profit & Loss A/C in Gateway of Tally?

Correct : A. Gateway of Tally→ Reports → Profit & Loss A/C

61. What percent of additional Tax is applied in VAT is 4%?

Correct : B. 4%

62. What percent of Additional Tax is applied if VAT in 12.5%?

Correct : B. 2.5%

63. Which shortcut key is used to enable Value Added Tax?

Correct : C. F11

64. Which shortcut key is pressed to set ‘Yes’ in “Allow Selection of VAT/Tax class during entry?”

Correct : B. F12

65. Which group [Under] is selected in Input VAT or Output VAT?

Correct : A. Duties & Taxes

66. Which group [Under] is selected in Input Additional Tax or Output Additional Tax?

Correct : C. Duties & Taxes

67. Which shortcut key is pressed to create a new Ledger during voucher entry?

Correct : A. Alt + C

68. Which shortcut key is pressed for voucher entry or deleting a ledger?

Correct : D. Alt + D

69. By default, which mode is on in Purchase and Sales voucher?

Correct : B. Item Invoice Mode

70. Which step is followed to view Purchase Register?

Correct : C. Gateway of Tally→ Display → Account Books → Purchase Register

71. By which report we can come to know if VAT is payable or refundable.

Correct : B. VAT Computation

72. Which will be group of VAT Adjustment ledger?

Correct : C. Duties & Taxes

73. TDS is applied on which of the following incomes?

Correct : D. All of these

74. On which of the following incomes TDS in not applied?

Correct : B. Cable Operator

75. According to law who has to pay TDS to the Income Tax Department?

Correct : B. Service Receiver

76. What is the TDS exemption limit for contractor and sub-contractor?

Correct : C. 20000

77. What is the TDS exemption limit for professional fees like Audit fees, Consultancy fees, Training fees?

Correct : B. 20000

78. Which shortcut key is used to enable Tax Deducted at Source [TDS]?

Correct : B. F11

79. Which step is appropriate to view TDS Nature of Payment?

Correct : C. Gateway of Tally→ Display → Statutory Info. → TDS Nature of Payment

80. Which group [Under] should be selected for TDS on Advertisement A/C?

Correct : B. Duties & Taxes

81. Which group [Under] should be selected for TDS on Professional or Technical Services A/C?

Correct : C. Duties & Taxes

82. In which voucher type entry is done for TDS calculations?

Correct : C. F7:Journal

83. In which voucher type, amount of VAT or TDS payable to the government will be noted?

Correct : A. F5:Payment

84. Amount payable as TDS can be known by which report in Tally?

Correct : A. Computation

85. Which shortcut key is used to take print of VAT or TDS reports?

Correct : C. Alt + P

86. Which is the shortcut key to zoom TDS Challan?

Correct : B. Alt + Z

87. Which website should be visited to get any information related to TDS?

Correct : B. www.incometax india.gov.in

88. Which option is used to print From 16A of TDS?

Correct : D. Gateway of Tally→ Display → Statutory Report → TDS Reports → Return → Print

89. Which shortcut key is used to set No in ‘Use Common Ledger A/c for Item Allocation?’

Correct : D. F12

90. Which option is selected for different types of VAT entries in Purchase Invoice or Sales Invoice?

Correct : B. Not Applicable

91. Which of the following is not compulsory to create while entry in Accounts with Inventory?

Correct : C. Stock Categories

92. Which reports are prepared monthly in Tally?

Correct : C. Trial Balance

93. VAT Structure is beneficial for whom?

Correct : D. Cash Flow or Funds Flow

94. By which option Purchase or Sales register can be viewed?

Correct : C. Accounts Books

95. Which option is used to view Stock Items or Group Summary?

Correct : B. Inventory Books

96. Which option is used to view VAT or TDS computation?

Correct : B. Statutory Books

97. Financial year normally ends no?

Correct : B. 31 March

98. Default invoice mode is on for Sales or Purchase entry. Which key should be pressed for entry of sales or Purchase as a voucher?

Correct : B. Ctrl + V

99. We can change the Company Information from

Correct : B. Company Info > Alter

100. Company Restore option is available in

Correct : B. Company Information