Quiznetik

Computerised Accounting | Set 1

1. The short key for company creation is ………………

Correct : C. alt+f3

2. F10 is the short key for ……………….. Voucher

Correct : B. Memo

3. Sales return are recorded in ………………. Voucher

Correct : D. Credit note

4. Erp stands for

Correct : A. Enterprise resource planning

5. The home screen of tally is also known as

Correct : B. Gate way of tally

6. Calculator area can be activated using

Correct : C. Ctrl +n

7. Full form of odbc

Correct : A. Open data base connectivity

8. The option ‘statutory compliance for’ is appearing in

Correct : A. Company creation screen

9. Changes in accounts are possible only in

Correct : B. Alteration mode

10. Reserve group accounts in tally is

Correct : A. 28

11. An account that the user need not create is

Correct : C. Cash in hand

12. The voucher type for recording goods received

Correct : B. Receipt note

13. TDS stands for

Correct : A. Tax deducted at source

14. Employee salary details are shown in

Correct : D. Pay roll

15. Salary comes under ……………. Head

Correct : C. Indirect expense

16. Vouchers can be displayed in

Correct : B. Day book

17. Professionals usually maintain accounts as

Correct : B. accounts only

18. A company can be deleted only in

Correct : B. alter

19. Company features in tally includes

Correct : D. all of the above.

20. The short key for changing period in tally is

Correct : B. alt+f2

21. Integrated accounts with inventory is available in

Correct : B. f11 features

22. Collection of ledgers of same nature is called

Correct : C. Group

23. Drawings accounts is to be created by linking with

Correct : A. Capital account

24. The options ‘ use common narration’ and ‘ narration each entry’ appear

Correct : C. F11 accounting features

25. Predefined groups are also called as

Correct : C. Statutory group

26. Which of the following is not a disadvantage of introducing computerized accounting system

Correct : C. Saving made on labour cost

27. Tally package is developed by

Correct : B. Tally solutions

28. We can change the company information from

Correct : B. company info → alter

29. How many inbuilt account groups are in tally by default

Correct : A. 29

30. The short cut used to activate calculator is

Correct : A. Ctrl + n

31. Budget represents ……………………

Correct : D. All of these

32. To see any report in detailed way, press

Correct : D. Alt+f1

33. Service tax report can be seen from

Correct : C. Display > statutory masters

34. Transfer from main cash to petty cash you require to pass ………………

Correct : C. Contra

35. If the financial year from is 1st april 2005 and the books beginning from is 1stjanuary 2006 then what will be the closing date?

Correct : B. 31st march 2006

36. Income tax number of the company will appear in which report?

Correct : D. None of these

37. Patent account falls under

Correct : D. None of these

38. Find out which is not a default ledger in tally.

Correct : B. Capital account

39. Multiple godowns are activated from

Correct : B. F11 > f1

40. “allow components list details (bill of materials)” option is activated for

Correct : B. Cost category

41. What is MRP?

Correct : B. Maximum retail price

42. Discount column is available in

Correct : C. Both (a) and (b)

43. We can cancel a voucher using

Correct : A. Alt + x

44. To create purchase order press

Correct : D. None of these

45. Single entry mode is applicable for

Correct : D. All of these

46. To use dr/cr instead of to/by during voucher entry or vice versa, press

Correct : C. F11

47. What is tan?

Correct : A. Tax account number

48. Drawings account is to be created by linking with

Correct : A. Capital

49. Which of the following is related with payment of cash

Correct : B. Tds

50. The options ‘use common narration’ and ‘narration for each entry’ appears in

Correct : B. Voucher entry screen

51. Transactions are firstly entered in:

Correct : A. Journal

52. A trial balance is prepared:

Correct : B. To test the arithmetical accuracy

53. Capital is treated as liability because of:

Correct : D. Entity concept

54. ______ are the liabilities which are payable after a long period

Correct : A. Fixed liabilities

55. ______ is an example for long term liabilities

Correct : B. Debentures

56. _______ is the collection of all accounts

Correct : D. Ledger

57. _______ is the book of original entry.

Correct : A. Journal

58. The process of ascertaining the balance of a particular account on a given date is:

Correct : C. Balancing

59. _______ is the expense which is unpaid at the end of the accounting period.

Correct : A. Outstanding expenses

60. ______ is an example for tangible assets.

Correct : A. Furniture

61. Which account is the odd one?

Correct : C. Stock of raw materials

62. Which of the following is the example of external users of accounting information?

Correct : A. Government

63. A ______ is sent to a customer when he returns the goods.

Correct : B. Credit note

64. A ______ is sent to the seller when he is taken back the sold goods.

Correct : A. Debit note

65. Which of the following is not a transaction?

Correct : D. An employee is dismissed from the job.

66. Bank account is _________.

Correct : B. Real account

67. Income earned but not received is known as __________

Correct : D. Accrued income

68. _____ refers the amount invested by the owner into business.

Correct : C. Capital

69. _______ is the major source of revenue of any business.

Correct : D. Sales

70. Assets acquired for long term use in the business are called _________.

Correct : A. Fixed assets

71. A person who owes money to the business is a ____________.

Correct : A. Debtor

72. Accrued income comes under

Correct : C. Current asset

73. Taxes paid come under which group?

Correct : D. Duties and taxes

74. Accounting principles are divided into two types. These are

Correct : D. 1 and 3 both

75. The term current assets does not include __________

Correct : D. Goodwill

76. What is the utility of tally vault password?

Correct : C. It will not show the company name in the company select list.

77. F12 is known as

Correct : B. Company configuration

78. To activate MRP feature from gateway of tally initially we need to press

Correct : A. F11

79. There are _________ predefined ledgers

Correct : A. One

80. To print a voucher from tally we need to press

Correct : C. Alt + p

81. Closing stock come under------

Correct : C. Stock in hand

82. E-mail can be used to

Correct : A. Send mail directly from tally screen

83. In tally screen right extreme displays------

Correct : D. Button bar

84. Retained earnings is an alias of

Correct : B. Reserve and surplus

85. Capital of the company is included under

Correct : B. Fixed liabilities

86. Carriage inwards can be included in

Correct : A. Direct expenses

87. Function key for changing date is

Correct : B. F2

88. Function key for changing current period is

Correct : A. Alt + f2

89. The branch of accounting which analyses and interprets the overall data is-----

Correct : C. Management accounting

90. To view detailed form of every report, we have to press----

Correct : B. Alt +f1

91. Function key for receipt voucher is?

Correct : D. F6

92. Function key for payment voucher is?

Correct : C. F5

93. Function key to select purchase voucher is?

Correct : B. F9

94. Function key to select sales voucher is?

Correct : A. F8

95. Function key to select journal voucher is?

Correct : C. F7

96. Function key to select contra voucher is?

Correct : A. F4

97. To activate cost centre and cost category feature we have to select

Correct : B. F 11 features

98. The left hand side of tally screen shows

Correct : D. List of selected companies

99. For selecting debit note voucher we have to use ----- key

Correct : A. Ctrl f9

100. For selecting credit note voucher we have to use ----- key

Correct : B. Ctrl f8