Quiznetik
Computerized Accounting with Tally | Set 2
1. in general the financial year from shall be from
A. 1st April of any year
B. 31st March of any year
C. All of them are true
D. None of these
Correct : A. 1st April of any year
2. We can modify an existing Company from
A. Company Info > Alter
B. Company Info > Alter Company
C. Gateway of Tally > Modify Company
D. None of these
Correct : A. Company Info > Alter
3. To change Current Date from Gateway of Tally press the key
A. F1
B. F5
C. F2
D. F9
Correct : C. F2
4. Party account can be created through
A. Group creation window
B. Ledger creation window
C. Inventory creation window
D. Any one of them
Correct : B. Ledger creation window
5. A ledger may get declaration space for its Alias through
A. F12
B. F11
C. Alt + F1
D. Alt + F2
Correct : A. F12
6. F12 is known as
A. Company Features
B. Company Configuration
C. Accounting Features
D. None of these
Correct : B. Company Configuration
7. What is the utility of Tally Vault Password?
A. It will lock the period of Company
B. It will lock all voucher entries for that Company
C. It will not show the Company Name in the Company Select List.
D. None of these
Correct : C. It will not show the Company Name in the Company Select List.
8. We can show Bill wise details of Debtors and Creditors by activating
A. Bill by bill
B. Maintain Bill wise Details
C. Maintain References
D. None of these
Correct : B. Maintain Bill wise Details
9. The shortcut key to quit from Tally is
A. Ctrl + L
B. Ctrl + P
C. Ctrl + M
D. Ctrl+Q
Correct : D. Ctrl+Q
10. How many inbuilt Accounts group are in tally by default?
A. 29
B. 31
C. 25
D. 34
Correct : B. 31
11. The shortcut used to activate calculator is
A. Ctrl + N
B. Ctrl + M
C. Ctrl + A
D. Ctrl + B
Correct : A. Ctrl + N
12. Suspense Account Group is defined under
A. Income
B. Expenditure
C. Liabilities
D. Assets
Correct : C. Liabilities
13. To activate MRP feature from Gateway of Tally initially we need to press
A. F11
B. F12
C. F10
D. Alt + F1
Correct : B. F12
14. MRP formula for inclusive of vat is
A. {Vat %*( MRP * QTY)}/100
B. (100*rate of vat)/(100+rateof vat)
C. Both a & b
D. None of these
Correct : C. Both a & b
15. Manufacturing Journal creates based on
A. Journal
B. Receipt Note
C. Stock Journal
D. Purchase Quotation
Correct : C. Stock Journal
16. To create Manufacturing Journal which option must be activated
A. Use Common Narration
B. Narrations for each entry
C. Prefilled with Zero
D. Use as manufacturing Journal
Correct : D. Use as manufacturing Journal
17. How many types of Measurement Units we can create in Tally?
A. 2
B. 3
C. 5
D. Unlimited
Correct : A. 2
18. To activate Job Costing which options require to be activated?
A. Maintain Cost Centre
B. Use Cost Centre for Job Costing
C. Both a & b
D. None of these
Correct : C. Both a & b
19. Multiple Godowns are activated from
A. F11
B. F11 > F1
C. F11 > F2
D. F11 > F3
Correct : C. F11 > F2
20. In Tally, there are _________ predefined ledgers
A. One
B. Three
C. Two
D. Four
Correct : C. Two
21. We can see list of Memorandum Vouchers from
A. Cash/Bank Books
B. Exception Reports
C. Accounts Books
D. Trail Balance
Correct : B. Exception Reports
22. To print a voucher from Tally we need to press
A. Ctrl + P
B. Shift + P
C. Alt + P
D. Ctrl + Alt + P
Correct : C. Alt + P
23. We can see Working Capital figure changing
A. Voucher configuration
B. Profit & Loss configuration
C. Balance Sheet configuration
D. Ledger configuration
Correct : C. Balance Sheet configuration
24. Input Vat Ledger is created under which account?
A. Duties & Taxes
B. Sales
C. Sales Return
D. None of these
Correct : A. Duties & Taxes
25. We can create multiple users in Tally activating
A. Tally Audit
B. Use Security Control
C. Both (a) and (b)
D. None of these
Correct : B. Use Security Control
26. “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
27. Retained Earnings is an alias of
A. Indirect Income
B. Reserve and Surplus
C. Capital Account
D. Investments
Correct : B. Reserve and Surplus
28. We can repeat narration by pressing
A. Shift + R
B. Alt + R
C. Ctrl +
D. Alt + Shift + R
Correct : C. Ctrl +
29. What is MRP?
A. Market Price
B. Maximum Retail Price
C. Marginal Price
D. Minimum Retail Price
Correct : B. Maximum Retail Price
30. 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)
31. 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)
32. 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
33. We can cancel a voucher using
A. Alt + X
B. Ctrl + X
C. Shift + X
D. Ctrl + Shift + X
Correct : A. Alt + X
34. To see reports of Job Work Analysis
A. Display-Statement of a/cs
B. Display-Statement of a/cs-Job Work Analysis
C. Display-Statement of a/cs-Cost Centre-Job work
D. None of these
Correct : B. Display-Statement of a/cs-Job Work Analysis
35. for reconciliation of Bank press
A. F12
B. F10
C. F5
D. F6
Correct : C. F5
36. To create Scenario which option requires to be activated?
A. Use Rev Journal & Optional voucher in F12
B. Use Optional voucher in F11
C. Use Reversing voucher in F11
D. Use Rev journal & Optional voucher in F11
Correct : D. Use Rev journal & Optional voucher in F11
37. Optional Voucher is one type of
A. Conventional Voucher
B. Unconventional Voucher
C. Both (a) & (b)
D. None of these
Correct : B. Unconventional Voucher
38. TDS deduction entry can be made through
A. Payment Voucher
B. Journal Voucher
C. Receipt Voucher
D. All of these
Correct : B. Journal Voucher
39. To create Purchase Order press
A. Alt + F4
B. Ctrl + F4
C. F4
D. None of these
Correct : A. Alt + F4
40. List of Optional Voucher we can get from
A. Cash Bank Books
B. Exceptional Reports
C. Accounts Books
D. Balance Sheet
Correct : B. Exceptional Reports
41. Input Vat Credit on Capital goods should be defined under
A. Capital Account
B. Current Liabilities
C. Duties & Taxes
D. Misc. Expenses (Assets)
Correct : C. Duties & Taxes
42. Single Entry mode is applicable for
A. Receipt Voucher
B. Contra Voucher
C. Payment Voucher
D. All of these
Correct : D. All of these
43. Online voucher creation from Day Book report by pressing
A. Ctrl + A
B. Shift + A
C. Alt + A
D. None of these
Correct : C. Alt + A
44. Reversing journal is a
A. Conventional Voucher
B. Unconventional Voucher
C. Both (a) and (b)
D. None of these
Correct : B. Unconventional Voucher
45. To hide the name of the Company you need to define
A. Security Control
B. Tally Audit
C. Create at least one User
D. Tally Vault Password
Correct : D. Tally Vault Password
46. To declare a voucher as Post Dated press
A. Ctrl + T
B. Alt + T
C. Ctrl + P
D. Ctrl + D
Correct : A. Ctrl + T
47. We can switch from Accounting Voucher to Inventory Voucher pressing
A. F2
B. Alt +F1
C. Ctrl + F1
D. F11
Correct : B. Alt +F1
48. Goods returning to a Creditor after challan but before bill we need to pass
A. Debit Note
B. Receipt Note
C. Rejection Out
D. Rejection In
Correct : C. Rejection Out
49. Branch / Division is a group defined under
A. Liabilities
B. Assets
C. Income
D. Expenditure
Correct : A. Liabilities
50. To use Dr/Cr instead of To/By during Voucher entry or vice versa, Press
A. F10
B. F12
C. F11
D. None of these
Correct : B. F12
51. ETCS means
A. Enable Tax Collected at Source
B. Electronic Tax Collected at Source
C. Electric Tax Collected at Source
D. None of these
Correct : B. Electronic Tax Collected at Source
52. What is TAN?
A. Tax Account Number
B. Tax Assessment Number
C. Tax Assignment Number
D. None of these
Correct : B. Tax Assessment Number
53. To get Payroll Reports choose
A. Gateway of Tally > Display
B. Gateway of Tally > Display > Statement of Accounts
C. Gateway of Tally > Display > Statement of Payroll
D. Gateway of Tally > Display > Payroll Reports
Correct : D. Gateway of Tally > Display > Payroll Reports
54. 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
55. BOM represents
A. Billing of Machines
B. Bill of Materials
C. Bill of Maintenance
D. None of these
Correct : B. Bill of Materials
56. "Alias" represents
A. Short name
B. Nick name
C. Code name
D. All of these
Correct : D. All of these
57. To change the date, shortcut used
A. Alt+F2
B. Alt+F3
C. F2
D. F1
Correct : C. F2
58. If we purchase any fixed asset in credit, we can pass it from
A. Payment mode
B. Receipt mode
C. Journal mode
D. Contra mode
Correct : C. Journal mode
59. Transfer of materials from one godown to another godown, use
A. Manufacturing Journal
B. Stock Journal
C. Purchase Journal
D. Both A & B
Correct : B. Stock Journal
60. Recording of actual stock as physically verified or counted is done through
A. Journal
B. Stock Journal
C. Physical Stock
D. Sales
Correct : C. Physical Stock
61. Service Tax Report can be seen from
A. Display > Day Book
B. Display > Account Books
C. Display > Statutory Masters
D. Display > Statutory Reports
Correct : D. Display > Statutory Reports
62. Payroll Auto fill is done through
A. Ctrl + A
B. Alt + A
C. Ctrl + B
D. Alt + B
Correct : B. Alt + A
63. What is the full form of TCS?
A. Tax Collected by Staff
B. Tax Consumption at Source
C. Tax Collected at Source
D. Tax Collected from Sales
Correct : C. Tax Collected at Source
64. The shortcut used for Sales Order is
A. Alt+F4
B. Alt+F5
C. Alt+F7
D. Alt+F8
Correct : B. Alt+F5
65. Budget represents ……………………
A. Estimation
B. Forecasting
C. Assumption
D. All of these
Correct : D. All of these
66. Find out which is not a Default Ledger in Tally
A. Cash in Hand
B. Capital Account
C. Profit & Loss
D. None of these
Correct : D. None of these
67. The Profit & Loss statement can be displayed in ----------- ----- format(s).
A. Horizontal
B. Vertical
C. A or B
D. None of the above
Correct : C. A or B
68. Default ledger accounts in tally are ______
A. Balance sheet & profit & loss profit & loss and trial balance
B. Profit & loss and trial balance
C. Cash and profit & loss
D. Cash and bank
Correct : C. Cash and profit & loss
69. Default 'godown' name in tally is ____________
A. Primary
B. Main location
C. A or b
D. None of the above
Correct : B. Main location
70. 'Tally vault' is a _________________
A. Security mechanism
B. Ledger a/c
C. Cost category
D. None of the above
Correct : A. Security mechanism
71. To create a sales voucher in tally, you have to press _______
A. F5
B. F7
C. F8
D. F9
Correct : C. F8
72. A Group Company is ------------------------- given to the merged accounts of member companies of the group.
A. a name
B. an identity
C. A and B
D. None of the above
Correct : C. A and B
73. In tally you get currency symbol option from _______ menu
A. Company creation
B. Stock items units
C. Regional setting
D. None of the above
Correct : A. Company creation
74. ------------------ 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
75. For 'stock journal' entry we press ______________ in tally
A. F7
B. Alt + F7
C. F10
D. F11
Correct : B. Alt + F7
76. Which option lists inventory valuation method in tally?
A. Stock report
B. Stock journal
C. Stock analysis
D. Stock summary
Correct : D. Stock summary
77. 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
78. What is the predefined number of groups in tally?
A. 16
B. 28
C. 128
D. 228
Correct : B. 28
79. 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
80. Which of the following user type can view audit list?
A. Tally Vault
B. Owner
C. Data Entry
D. Administrator
Correct : D. Administrator
81. 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
82. Which of the following file is usually used as a master file?
A. Inventory subsidiary
B. Cash disbursements.
C. Cash receipts.
D. Payroll transactions.
Correct : A. Inventory subsidiary
83. 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.
84. 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
85. Which of the following shows daily balance for a selected voucher type?
A. Daybook
B. Trial Balance
C. Balance Sheet
D. None of the above
Correct : A. Daybook
86. Which shortcut key(s) are used to enter a stock journal in tally?
A. F7
B. Control + F7
C. Alt + F7
D. Shift + F7
Correct : C. Alt + F7
87. How many types of users are present in tally?
A. 1
B. 2
C. 3
D. 4
Correct : C. 3
88. Which shortcut key(s) are used to display list of inventory reports within balance sheet?
A. F8
B. F9
C. F10
D. F11
Correct : B. F9
89. Which of the following is the predefined stock category in tally?
A. Primary
B. Symbol
C. Stock
D. Main location
Correct : A. Primary
90. 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 : B. Tally.ini
91. 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 : D. All of these
92. ‘Inventory books’ is used to view
A. Stock Items
B. Group Summary
C. Both A and B above
D. None of these
Correct : C. Both A and B above
93. Trial balance is prepared on............ basis
A. Monthly
B. Annually
C. Half yearly
D. Any of the above.
Correct : D. Any of the above.
94. A............. serves the purpose of both journal and ledger accounts
A. Journal proper
B. Purchase day book
C. Cash book
D. Any of the above
Correct : C. Cash book
95. The rate of trade discount varies with the ----------- purchased
A. Total asset
B. Current asset
C. Quantity
D. None of these
Correct : C. Quantity
96. A ‘credit note’ is sent by------------- to ----------------
A. Seller, buyer
B. Buyer, seller
C. Customer, seller
D. Creditor, seller
Correct : A. Seller, buyer
97. A ‘Debit note’ is a statement sent to the ------------- by the ----------------
A. Seller, buyer
B. Buyer, seller
C. Customer, seller
D. Creditor, seller
Correct : A. Seller, buyer
98. A trial balance is a---------
A. Ledger
B. Journal
C. Account
D. List
Correct : D. List
99. What type of application software is Tally?
A. Statistics package
B. Spreadsheet package
C. Accounting Package
D. All of these
Correct : C. Accounting Package
100. Tally package is developed by
A. Peutronics
B. Tally Solutions
C. Coral Softwares
D. Vedika Softwares
Correct : A. Peutronics