S.N.
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Questions
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Answer
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1
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Zero valued entries only reflect in the ______
book.
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accounting
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2
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______ are used to define a Pay Structure of an
Employee or an Employee Group.
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Salary Details
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3
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The state and central tax is always ____ of the
integrated tax.
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one half
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4
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In upward rounding, if the decimal value is 50 or
99 paisa then Tally will automatically convert it into 0 rupees.
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False
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5
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The casual taxpayer has to deposit tax in
advance.
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True
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6
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Transportation and Telecom services are which
type of business entities?
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Infrastructure
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7
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In Tally, to enable payroll for a company, which
keyboard shortcut is used?
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F11
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8
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Which of these keyboard shortcuts is used to
create masters through voucher?
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Alt+C
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9
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Under the reverse charge mechanism, the liability
to pay tax is on the ___.
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recipient
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10
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The process of listing items that make up another
item is termed as ___.
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Bill of Materials
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11
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Which of these menus is used to create the new
ledgers, groups, and voucher types in Tally?
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Masters
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12
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When the buyer pays money to a seller then the
seller has to prepare which document?
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Receipts
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13
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What do the terms 'Cr' and 'Dr' stand for in
Tally?
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Credit and Debit
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14
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Intrastate supply attracts which type of GST?
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CGST and SGST
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15
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The _____ option allows you to export the reports
or data from Tally.
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Export
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16
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To create multiple ledgers at a time, select the
_______ option under Multiple Ledgers from the Ledger menu.
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Create
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17
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The Tally Help option appears on _______.
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Horizontal Button Bar
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18
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In the accounting equation, assets are equal to
.................. plus.................
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liabilities, capital
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19
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The validity of registration for casual taxpayer
is maximum ___ days.
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90
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20
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Accounts which are related to expenses, losses,
incomes or gains are called ____ accounts.
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Nominal
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21
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A building is an example of an intangible real
account.
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False
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22
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A ___ discount is a discount given to the buyer
on the product price when they buy the product in large quantity.
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Trade
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23
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You should use this voucher to record the sale of
goods to a company.
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Sales
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24
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Stock items are purchased or sold based on their
_____ and ____.
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Quantity, Unit
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25
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Which of these is the main working area in Tally?
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Gate way of Tally
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26
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The option ‘Maintain more than one payroll or
cost category?’ can be seen on which screen?
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Accounting Features
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27
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To make a purchase entry, from Accounting
Vouchers, press the ___ key.
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F9
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28
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Which button is clicked to open the Inventory
Features screen from Gateway of Tally?
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F11: Features
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29
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A ledger is also known as the ................
book of entry.
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Principal
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30
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To create a Stock Group, go to Gateway of Tally
> Inventory Info. > Stock Group > _____
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Create
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31
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When payment is made through cheque, the bank
account should be credited.
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True
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32
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The process of transferring entries from journal
to ledger is called ____.
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Posting
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33
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The ____ balance for the previous financial year
becomes the ____ balance for the current financial year.
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closing,opening
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34
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If you see a single underline below a keyboard
character in Tally, you should press which special key along with it?
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alt
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35
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The process of writing in ____ is known as
Journalizing.
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Journals
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36
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To setup Bill of Materials, go to Gateway of
Tally > ___: Configure > Accts/Inventory Info.
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F12
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37
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Pressing the F6 key in Accounting Vouchers will
open the _____ voucher.
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Receipt
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38
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What is contributed by the owners or shareholders
and financial institutions in the form of the cash?
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Capital
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39
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You cannot edit or delete a ledger in the display
mode.
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True
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40
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In multi-currency transactions in Tally, the
ongoing or current exchange rate is known as the _______ rate.
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standard
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41
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To record additional costs on a purchase, you
need to enable ____.
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Track additional cost of purchase
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42
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Which shortcut key is used to delete the group?
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Alt+D
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43
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Accounting is the process of systematically
................, ................, and .................. financial
information.
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recording, classifying, summarizing
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44
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Ideally, the _______ voucher should be used when
the company buys goods.
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Purchase
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45
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Bill of Material feature is mostly useful for
manufacturing organizations.
|
|
46
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Sales are also known as payables.
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FALSE
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47
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To make a sales entry, from Accounting Vouchers,
press the ___ key.
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F8
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48
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Taxable event in the GST is supply ____.
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Goods and /or Services
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49
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Cash is an example of what?
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Assets
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50
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Through the Company Features menu, you can change
which of these?
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Accounting features
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