Lession- 01
Transportation and Telecomm services are which type of business entities?
Trader
Manufacturer
Infrastructure
Insurance
Hindustan Unilever is an example of a wholesaler.
TRUE
FALSE
FALSE
What is contributed by the owners or shareholders and financial institutions in the form of the cash?
Capital
Products and services
Returns on investments
Two or more people set up a business together in the partnership business structure.
TRUE
FALSE
FALSE
Sales are also known as payables.
TRUE
FALSE
FALSE
Lession-02
Which document do you need to prepare for cash sales?
Cheque
CashMemo
DebitNote Receipt
In the case of credit sales, you need to prepare an invoice.
TRUE
FALSE
FALSE
When the buyer pays money to a seller then the seller has to prepare which document?
Cash Memo
Pay-in-Slip
Receipt
Credit Note
In case goods are overvalued or defective, the purchaser prepares a debit note against the seller of goods and adds the amount in the note.
TRUE
FALSE
FALSE
If a customer returns goods or given a discount then which document is issued to the customer by the seller?
CreditNote
Cheque
Invoice
Receipt
Lession-03
In the accounting equation, assets are not equal to liabilities plus capital.
TRUE FALSE
Which of these provides the financial position of a business on a particular date? Question
Balancesheet
TrialBalance
ProfitandLossStatement Cash is an example of what?
Assets
Liabilities
Profit Loss
Outstanding wage is an example of liabilities.
TRUE FALSE
Capital is which part of the liability in an accounting equation.
Owner'sclaim
Outsider'sclaim
Insider'sclaim Borrower'sclaim Lession-04
A journal is also known as the original book of entry.
TRUE FALSE
The process of writing in ____ is known as Journalizing.
Journals
Ledgers Vouchers
A bank account is an example of a ____ account
Personal
Real Nominal
A building is an example of an intangible real account.
TRUE
FALSE
Accounts which are related to expenses, losses, incomes or gains are called ____ accounts.
Personal
Real
Nominal
Real
Nominal
Lession-05
A ___ discount is a discount given to the buyer on the product price when they buy the product in large quantity.
Trade
Cash
Seasonal Contractual
What is the type of discount provided by the seller of goods to encourage prompt payment from the buyer?
Trade
Cash
Seasonal Contractual
Accounts which are related to expenses, losses, incomes or gains are called ____ accounts.
Personal
Real Nominal
A building is an example of an intangible real account.
TRUE FALSE
A credit is an accounting entry that is made when an asset ____.
increases
decreases
remainssame
Lession-06
remainssame
Lession-06
A ledger is also known as the principal book of entry.
TRUE
FALSE
FALSE
The left column in a ledger shows the different ____ balances.
credit
debit
pending
The process of transferring entries from journal to ledger is called ____.
credit
debit
pending
The process of transferring entries from journal to ledger is called ____.
posting
balancing
journalizing
A building is an example of an intangible real account.
TRUE
FALSE
FALSE
The book that contains every single transaction that has occurred in a business is called a _____.
Question
listing
journal
ledger
voucher
journal
ledger
voucher
Lession-07
Accounting is the process of systematically recording, classifying, and summarizing financial information.
TRUE
FALSE
In the single-entry system, all the credit transactions and accrued liabilities are omitted.
TRUE
FALSE
FALSE
_______ are the amount payable against the credit purchase.
Stocks
Assets
Liabilities
Discounts
Discounts
General ledger serves the purpose of re-classifying and summarizing all the information recorded in the cash book and journal, according to the account heads. Question
TRUE
FALSE
FALSE
Which of these accounts are different types of incomes or expenses?
Bankaccount
Cashaccount
Realaccount
Nominalaccount
Lession-08
Nominalaccount
Lession-08
The Tally Help option appears on _______.
Horizontal ButtonBar
Menu Bar
Task Bar
Vertical button Bar
Vertical button Bar
If you see a single underline below a keyboard character in Tally, you should press which special key along with it?
Alt
Ctr
Del
Shift
Shift
A directory is the path where the company data is stored in Tally.
TRUE
FALSE
FALSE
If you delete a company, you can still recover its records.
TRUE
FALSE
FALSE
In order to set various company features required for transaction entries, click F11: Features on the ______.
Horizontal Button Bar
Menu Bar
Task Bar
Vertical button Bar
Lession-09
If you want to give a code to stock items, you should set which of these options to Yes?
Use Description for Stock Items
Allow ADVANCED entries in Masters
Use PART NUMBERS for Stock Items
Use ALTERNATE UNIT for Stock Items
Use ALTERNATE UNIT for Stock Items
Where are inventory details displayed by default?
Gateway of Tally
Horizontal Button Bar
Vertical Button Bar
Voucher Entry screen
Gateway of Tally
Horizontal Button Bar
Vertical Button Bar
Voucher Entry screen
Which of these options should be set to Yes if you want to include a different name for the employee in the payroll reports?
Provide Contract Details
Show Employee Display Name
Show Resigned/Retired Employees
Show Statutory Details
For which e-mail server should the option 'Use SSL on Standard Port' be set to Yes?
Company
Domain
Domain
Hotmail
Any Domain
None of the these
None of the these
You should enable which of these options if Error 16004 keeps appearing?
Enable HTTP Log(tally http.log )?
Enable ODBC server?
Connection time out(in seconds) .
Connect to Tally NET Server running on non HTTP port?
Enable ODBC server?
Connection time out(in seconds) .
Connect to Tally NET Server running on non HTTP port?
Lession-10
Inventory Info menu is mainly about _____.
Ledgers
Groups
Stocks
Vouchers
Groups
Stocks
Vouchers
Which of these is used to view the list of primary and secondary groups in Tally?
Accounts
List of Accounts
List
None of the above
List of Accounts
List
None of the above
Which shortcut key is used to delete the group?
Alt+A
Alt+X
Alt+C
Alt+D
Alt+X
Alt+C
Alt+D
Ledgers that have financial transactions of the same nature are classified under a single group.
TRUE
FALSE
FALSE
The alias feature allows you to refer a ledger either by the name or alias.
TRUE
FALSE
FALSE
Lession-11
What is contributed by the owners or shareholders and financial institutions in the form of the cash?
Question
Capital
Products and services
Returns on investments
Cash is an example of what?
Asset
Liabilities
Profit Loss
Products and services
Returns on investments
Cash is an example of what?
Asset
Liabilities
Profit Loss
Accounts which are related to expenses, losses, incomes or gains are called ____ accounts.
Personal
Real
Nominal
Real
Nominal
_______ are the amount payable against the credit purchase.
Question
Stocks
Assets
Liabilities
Discounts
Assets
Liabilities
Discounts
Which of these options should be set to Yes if you want to include a different name for the employee in the payroll reports?
Provide Contract Details
Show Employee Display Name
Show Resigned/Retired Employees
Show Statutory Details
Lession-12
Inventory information contains the details of inventory masters.
TRUE
FALSE
FALSE
To create a Stock Group, go to Gateway of Tally > Inventory Info. > Stock Group > _____
Create
Display
Alter All of the above
Which of these options from the Inventory Info menu is used to view a single stock category or multiple stock categories?
Stock Groups
Stock Categories
Stock Items Godowns
Stock Items Godowns
The 'Third party stock with us' option is used when the godown is used to record details of third party goods with the company.
TRUE
FALSE
FALSE
Stock items are purchased or sold based on their _____ and ____.
Question
price,quality
quality,unit
quality,unit
quantity,unit
quality,quantity
quality,quantity
Lession-13
Which of these keyboard shortcuts is used to create masters through voucher?
Alt+C
Ctrl+C
Alt+M Ctrl+M
What do the terms 'Cr' and 'Dr' stand for in Tally?
CashandDebt
CreditandDebt
Credit and Debit
CurrencyandDebt
CurrencyandDebt
Pressing the F6 key in Accounting Vouchers will open the _____ voucher.
Contra
Journal
Receipt
Sales
Sales
You should use this voucher to record the sale of goods to a company.
DebitNote
Receipt
Purchase
Sales
Sales
Suppose you purchased 500 sports equipment on credit and are yet to make the payment. This purchase should be recorded in which voucher?
Contra
DebitNot
Journal
Purchase
Journal
Purchase
Lession-14
Which of these menus is used to create the new ledgers, groups, and voucher types in Tally?
Reports
Utilities
Transactions
Masters
Masters
You cannot edit or delete a ledger in the display mode.
TRUE
FALSE
FALSE
To create multiple ledgers at a time, select the _______ option under Multiple Ledgers from the Ledger menu.
Delete
Alter
Create
Configure
Configure
Office cost is a direct expense for a company.
TRUE
FALSE
FALSE
When payment is made through cheque, the bank account should be credited.
TRUE
FALSE
FALSE
Lession-15
If you wish to create an item group on the Stock Item Creation screen, use the keyboard shortcut ______.
Alt+A
Alt+C
Alt+I
Alt+G
A ______voucher is used to record the details of transactions involving customer orders for stock items.
Contra Entry
Payment
Sales Order
Purchase
Sales Order
Purchase
The keyboard shortcut Alt+F9 is used to open which voucher from Inventory Vouchers?
Inventory Voucher
Sales Order Voucher
Purchase Voucher
Receipt Note Voucher
Sales Order Voucher
Purchase Voucher
Receipt Note Voucher
On 13th May, KM Sports ordered 400 sports shoes from your company. For this transaction, you should select the purchase order.
TRUE
FALSE
FALSE
On 4th July, your company delivered 800 school bags to RK Enterprises. Which voucher should be used to record this transaction?
Delivery Note Voucher
Receipt Note Voucher
Payment Voucher
Purchase Voucher
Lession-16
Receipt Note Voucher
Payment Voucher
Purchase Voucher
Lession-16
In Tally, deleting a company is same as closing a company.
TRUE
FALSE
Through the Company Features menu, you can change which of these?
Accounting features
Excise duty
Income tax returns
VAT settings
Excise duty
Income tax returns
VAT settings
To go to Accounting Features, you need to use which function key?
F12
F11
F1
F8
Which of these is the main working area in Tally?
Gate way of Tally
Menu Bar
Info Panel Calculator Area
Menu Bar
Info Panel Calculator Area
To enable cheque printing, set the 'Enable cheque printing' option to Yes.
TRUE
FALSE
FALSE
Lession- 17
Bill Wise Details in Tally.ERP 9 is a function that helps you track the details of a ___ entry.
voucher
journal
ledger
journal
ledger
Which keyboard shortcut is used to create a Purchase voucher?
F5
F7
F8
F9
F7
F8
F9
You should use which adjustment method when you do not know which bills need to be adjusted with money?
Advance
Against ref
Against ref
New ref
On account
On account
To record advance payment for sales, which type of adjustment method should be used?
Against Ref
New Ref
Advanced Ref
Onaccount
New Ref
Advanced Ref
Onaccount
_______ are used to maintain details of all sales and purchase transactions at the invoice level.
Bill-wise Details
Credit Note Vouchers
Multiple Currencies
Trial Balances
Credit Note Vouchers
Multiple Currencies
Trial Balances
Lession-18
For the currency symbols that cannot be accessed directly from the keyboard, you should use which of these with the Alt key?
Question
Numeral
Unicode
EBCDIC
ASCII code
ASCII code
The current rate of exchange is the _____rate in Tally.
buying
standard
selling
None of the above
standard
selling
None of the above
In multi-currency transactions in Tally, the ongoing or current exchange rate is known as the _______ rate.
buying
standard
selling \
existing
buying
standard
selling \
existing
On 14th September, you sent an invoice of Rs. 73,000 to Goa Computers towards the sale of 500 CPUs. This is a _______.
ledger
purchase in voice
receipt note
sales Invoice
purchase in voice
receipt note
sales Invoice
The Bill Settlement option is used to settle selected or all bills from the list of bills displayed in the _____ report.
receivable
payable
stock summary
outstanding
payable
stock summary
outstanding
Lession-19
_______ are used to maintain details of all sales and purchase transactions at the invoice level.
Question
Bill-wise Details
Credit Note Vouchers
Multiple Currencies
Trial Balances
Credit Note Vouchers
Multiple Currencies
Trial Balances
You should use which adjustment method when you do not know which bills need to be adjusted with money?
Advance
Against ref
New ref
On account
Against ref
New ref
On account
As of 20th September, you owe JK Solutions an amount of Rs. 20,000. To check this pending amount, you should use which kind of report?
Purchase Report
Ledger Outstanding Report
Sales Report Receipt Report
Ledger Outstanding Report
Sales Report Receipt Report
To check the trial balance, go to Gateway of Tally > Display > ____.
Day Book
Inventory Books
Trial Balance
Accounts Book
Inventory Books
Trial Balance
Accounts Book
To record advance payment for sales, which type of adjustment method should be used?
Against Ref
New Ref
Advanced Ref
On account
New Ref
Advanced Ref
On account
Lession-20
To record additional costs on a purchase, you need to enable ____.
Use multiple price levels
Track additional cost of purchase
Use cost tracking for stock item
Maintain batch-wise details
Track additional cost of purchase
Use cost tracking for stock item
Maintain batch-wise details
When items in the purchase invoice have the same unit of measurement, you should use Appropriate by ___________.
To use the Tracking Number feature, set the 'Use rejection inward and outwards notes' options to No.
TRUE
FALSE
FALSE
Zero valued entries are used when you deliver goods as replacements or free samples.
TRUE
FALSE
FALSE
Zero valued entries only reflect in the ______ book.
inventory
accounting
day
All of the above
Lession-21
Which button is clicked to open the Inventory Features screen from Gateway of Tally?
Question
F1:Shut Comp
F2:Date
F11:Features
F12:Configure
F12:Configure
In Manufacturing company, you can consider different items as part of the same batch if these items have the same_____ date.
manufacturing
receipt
receipt
expiry
purchase
When items in the purchase invoice have the same unit of measurement, you should use Appropriate by ___________.
Quantity
Value
Quality Price
Zero valued entries only reflect in the ______ book.
inventory
accounting
day
Alloftheabove
accounting
day
Alloftheabove
The keyboard shortcut Alt+F9 is used to open which voucher from Inventory Vouchers?
Inventory Voucher
Sales Order Voucher
Purchase Voucher
Receipt Note Voucher
Sales Order Voucher
Purchase Voucher
Receipt Note Voucher
Lession-22
To create a Stock Group, go to Gateway of Tally > Inventory Info. > Stock Group > _____
Create
Display
Alter
All of the above
Display
Alter
All of the above
You cannot edit or delete a ledger in the display mode.
TRUE
FALSE
Through the Company Features menu, you can change which of these?
Accounting features
Excise duty
Income tax returns VAT settings
Excise duty
Income tax returns VAT settings
The current rate of exchange is the _____rate in Tally.
buying
standard
selling
None of the above
standard
selling
None of the above
When items in the purchase invoice have the same unit of measurement, you should use Appropriate by ___________.
Quantity
Value
Quality
Price
Lession-23
The Batch-wise details feature is used to identify the movement of inventories in batches.
TRUE
FALSE
FALSE
To make a purchase entry, from Accounting Vouchers, press the ___ key.
F9
F12
F11
F8
F8
To make a sales entry, from Accounting Vouchers, press the ___ key.
F9
F12
F11
F8
F8
To enable the Batch-wise details, from Gateway of Tally, press F11>F12 for Company Inventory Features and set the 'Maintain batch-wise details' option to ___.
Yes
No
None of these
Yes
No
None of these
Ideally, the _______ voucher should be used when the company buys goods.
DebitNote
Receipt
Purchase
Sales
Receipt
Purchase
Sales
Lession-24
Press_______ shortcut key to see predefined vouchers from the 'List of accounts' screen.
Alt+D
Ctrl+A
Ctrl+V
Ctrl+V
Alt+F
The Stock journal is used to transfer different materials from one godown to another within the same company.
TRUE
FALSE
FALSE
A _____ is the record of an authenticated document for different materials taken out from the stock for various purposes.
payment
batch
bill of Material
voucher
batch
bill of Material
voucher
When you enable the Bill of Materials option, you can see changes in the Stock Item Creation screen.
TRUE
FALSE
FALSE
Bill of Material feature is mostly useful for manufacturing organizations.
TRUE FALSE
Lession-25
The process of listing items that make up another item is termed as ___.
Bill Settlement
Batch-wise Details
Actual and Billed Quantity
Bill of Materials
A Bill of Materials may contain vendor name and quantity of each raw material.
TRUE
FALSE
FALSE
Multiple 'Bill of Materials' is used when bills for different stock items are required for a single finished good.
TRUE
FALSE
FALSE
To setup Bill of Materials, go to Gateway of Tally > ___: Configure > Accts/Inventory Info.
F10
F11
F12
F8
To check the ___ report, go to Gateway of Tally > Display > Inventory Books > Stock Item
Movement Analysis
Stock Item
Daily breakup
Ratio Analysis
Stock Item
Daily breakup
Ratio Analysis
You can connect only one company through Tally.NET.
TRUE
FALSE
FALSE
By default, the Tally.NET user is authorized in the capacity of a/an_____ who has restricted access to the company data
Auditor
Data Entry operator
System administrator
All of the above
All of the above
Tally.NET allows you to connect companies from Tally.ERP 9 and helps you to create and maintain remote users.
TRUE
FALSE
FALSE
Who can modify access controls of a Tally.NET auditor?
Financial Advisor
Chartered Accountant
Product Manager
System Administrator
System Administrator
Tally.NET is a/an ________ feature that provides a host of capabilities.
optional
additional
default
All of above
optional
additional
default
All of above
Lession-27
While taking the backup,______ is the location where the data backup files for multiple companies are stored.
Directory
Server
Destination
Source
Directory
Server
Destination
Source
While restoring files, first select_____ and then_____.
destination,server
source,destination
destination,source
server,destination
destination,server
source,destination
destination,source
server,destination
The ____ balance for the previous financial year becomes the ____ balance for the current financial year.
closing,opening
opening,closing
closing,closing
opening,opening
closing,opening
opening,closing
closing,closing
opening,opening
The _____ option allows you to export the reports or data from Tally.
Export
Display
Alter
Split from
Display
Alter
Split from
For which of these reasons do you need to import vouchers from one company to another?
Data migration within different version
Data import from third party
All of the above
Lession-28
____is commonly used to transfer different types of data or files.
URL
Web-page
FTP
HTTP
Web-page
FTP
HTTP
The SQL query language in Tally.ERP 9 is used to _____ information.
delete
retrieve
upload
None of the above
delete
retrieve
upload
None of the above
________ feature from Tally allows you to send an e-mail, and publish and upload files to the Internet.
GST
E-capabilities
ODBC VAT
E-capabilities
ODBC VAT
You have to install _____ before installing Tally.ERP 9 to enable Open Database Connectivity (ODBC).
MS-Query
SQLQuery
MQL TQL
Which syntax is used to a list of ledger collections that are exposed to
ODBC?
SELECT$ Name FROM ODBC Tables
SELECT$Name FROM Ledger
SELECT*FROM Ledger
SELECT$Name FROM Ledger
Lession-29
SELECT$Name FROM Ledger
Lession-29
Which indirect tax was applicable prior to GST on goods?
Which indirect tax was applicable on intrastate sale of goods prior to GST?
VAT
Service tax
Customduty
Exciseduty
Service tax
Customduty
Exciseduty
Taxable event in the GST is supply ____.
Goods
Services
Goodsand/orServices
Services
Goodsand/orServices
What do you mean by securities?
Goods
Financial Instruments (Shares and Debentures)
Cash
Cash
Intrastate supply attracts which type of GST?
CGST
SGST
CGSTandSGST
IGST
IGST
Lession-30
Question
25
20
10
30
The validity of registration for casual taxpayer is maximum ___ days. Question
100
150
90
30
The aggregate turnover requires for GST registration under special category is ____ lacs Question
25
20
10
30
The casual taxpayer has to deposit tax in advance.
TRUE
FALSE
FALSE
Under GST, a dealer whose turnover is less than the recommended threshold amount for GST registration will be termed as a/an _____ dealer.
composite
registered
local
unregistered
registered
local
unregistered
Lession-31
For availing input tax credit, the taxpayer has received ________.
Goods
Services
Goodsand/orServices
The taxpayer is eligible to avail _______ against the input tax.
debit
credit
payment
credit
payment
Under the reverse charge mechanism, the liability to pay tax is on the ___.
supplier
recipient
both
recipient
both
Both goods and services are covered under the reverse charge mechanism.
TRUE
FALSE
FALSE
As per GST, the reverse charge mechanism also apply to supply of ___ goods.
Lession-32
The most important thing while doing a transaction in Tally is to create ____.
vouchers
masters
ledgers journals
masters
ledgers journals
The Accounts masters include ____ and groups.
ledgers
vouchers
journals
vouchers
journals
The inventory master includes Stock Group, Stock Items, and Unit of Measure.
TRUE
FALSE
FALSE
To activate GST for your company, open the company and press __
Accounting Features > F3: Statutory & Taxation
F11
F12
F10
F9
F12
F10
F9
In upward rounding, if the decimal value is 50 or 99 paisa then Tally will automatically convert it into 0 rupees.
TRUE
FALSE
FALSE
Lession-33
The Batch-wise details feature is used to identify the movement of inventories in batches.
TRUE
FALSE
FALSE
The process of listing items that make up another item is termed as ___.
Bill Settlement
Batch-wise Details
Actual and Billed Quantity
BillofMaterials
BillofMaterials
While taking the backup,______ is the location where the data backup files for multiple companies are stored.
Directory
Server
Destination
Source
Directory
Server
Destination
Source
Which indirect tax was applicable prior to GST on goods?
Service tax
VAT
Exciseduty
VAT
Exciseduty
For availing input tax credit, the taxpayer has received ________.
Goods
Services
Goods and/or Services
Services
Goods and/or Services
Lession-34
By using F12: Configure, you can enable the required settings of Inventory Masters.
TRUE
FALSE
FALSE
To create a single stock group, go to Gateway of Tally > Inventory Info. >
Stock Groups > Single Stock Group > ____
Create
Alter
Display
Alter
Display
You can set up the GST rates for your company using which option?
GST Rate Setup
Tax Type
Taxability
Tax Type
Taxability
A compound unit is a combination of ___ simple units.
Two
Three
Four
Two
Three
Four
By default Tally. ERP 9 will show the Compound unit for creating the unit of measure.
TRUE
FALSE
Lession-35
Lession-35
The first two digits of GSTIN represent the ____ code
The state and central tax is always ____ of the integrated tax.
one-half
one-third
one-fourth
one-fifth
one-third
one-fourth
one-fifth
You can record a journal voucher to transfer the closing balance of ____ as the opening balance under GST.
Cess
Surcharge
CENVAT
All of the above
Cess
Surcharge
CENVAT
All of the above
If you make a purchase of goods within the ___, then it is an intrastate inward supply of goods.
city
district
state
country
district
state
country
The shortcut key ____ is used to create a voucher for the purchase of goods.
F9
F10
F11
F12
Lession-36
Which shortcut key is used to change the range of pages to be printed?
Ctrl+D
Ctrl+V
Ctrl+A
Ctrl+G
Ctrl+G
Under which group is the ledger for IGST created?
Indirect Expenses
Duties&TaxesIndirectIncomes
Primary
Duties&TaxesIndirectIncomes
Primary
The highest level at which the tax rate can be defined is the _____ level.
transaction
stockitem
stockgroup
company
stockitem
stockgroup
company
You need to use the _____ format to upload different GST reports on the GST portal.
JSON
Excel
PDF
XML
XML
GSTR-2 shows statutory reports for purchase in Tally.
TRUE
FALSE
FALSE
Lession-37
In the case of taxable exports, which of these taxes is applicable?
CGST
IGST
SGST
VAT
SGST
VAT
In GST, all imports and unregistered supplies are earmarked as reverse charge mechanism.
TRUE
FALSE
TRUE
FALSE
If an individual supplies goods through an e-commerce operator, he or she is also eligible for the composite dealer surcharge.
TRUE
FALSE
FALSE
Under GST, a dealer whose turnover is less than the recommended threshold amount for GST registration will be termed as a/an _____ dealer.
composite
egistered
local
unregistered
egistered
local
unregistered
You are exporting 40,000 LED lights to a Thailand-based company. To record this transaction, you should create which type of ledger?
Purchase Ledger
Purchase Ledger
General Ledger
Distributed Ledger
SalesLedger
SalesLedger
Lession-38
0
5
10
25
In economics, the term SEZ stands for ______.
Special Environmental Zone
Special Ecological Zone
Special Economic Zone
Special Entertainment Zone
Special Entertainment Zone
If you received an advance amount of Rs. 10,000 then you should make this entry as a/an ____ receipt.
advance
sales
special
tax-free
sales
special
tax-free
The term 'intrastate outward services' refers to _______.
purchase from another state
sales made out side the state
purchase from within the same state
sales within the same state
purchase from another state
sales made out side the state
purchase from within the same state
sales within the same state
To separately record interstate and intrastate purchase ledgers, there is no need to create a separate interstate purchase taxable ledger.
TRUE
FALSE
FALSE
Lession-39
To make a payment entry, you should select Accounting Vouchers and press the ____key from the keyboard.
F5
F6
F7
F8
To activate credit/debit note, go to F11: Company Features > Accounting Features or Inventory features.
TRUE
FALSE
TRUE
FALSE
A sales return is recorded in the ____.
credit note
debit note
payslip
debit note
payslip
To view the GSTR-1 report, go to Gateway of Tally > Display > ___ > GST> GSTR-1
Statutory Reports
Statutory Reports
Statutory Info.
Exception Reports
To modify GST details, set 'Set/alter GST details' to Yes.
TRUE
FALSE
FALSE
Lession-40
To activate GST for your company, open the company and press __
Accounting Features > F3: Statutory & Taxation
F11
F12
F10
F9
F9
Go to the Gateway of Tally > Display > Statutory Reports > GST > ____ to view the GSTR-2 report.
GSTR-2
GSTR-2
GSTR-1
GSTR-3A
GSTR-3A
CGST is a state tax.
TRUE
FALSE
FALSE
To print an invoice that you made, go to Gateway of Tally > Display > ___ and select the required voucher.
Inventory Books
Account Books
Trial Balance
Day Book
Inventory Books
Account Books
Trial Balance
Day Book
GSTR-1 includes the details of all outward supplies made in a given period. Question
TRUE
FALSE
FALSE
Lession-41
The company received the payment. So, to make this entry, use the ___ voucher.
Payroll
Receipt
Payment
Payment
To record a payment made to a company, use the ___ voucher
Payroll
Receipt
Payment
Receipt
Payment
The company purchased an item. To make this entry, use the purchase voucher.
TRUE FALSE
The company made a sale. To record this, use ___ voucher.
Sales
Purchase
Receipt
Purchase
Receipt
To modify GST details, set 'Set/alter GST details' to Yes.
TRUE
FALSE
FALSE
Lession-42
The company purchased an item. So, to make this entry, use the purchase voucher.
TRUE
FALSE
TRUE
FALSE
The company made a sale. To record this, use ___ voucher.
Sales
Purchase
Receipt
Purchase
Receipt
To view the amount payable to a company, go to Gateway of Tally > Display > Statements of Accounts > Outstandings > Receivables.
TRUE
FALSE
TRUE
FALSE
To modify GST details, set 'Set/alter GST details' to Yes.
TRUE
FALSE
FALSE
What is used to record a purchase return?
Credit Note
Debit Note
Receipt
Sales
Receipt
Sales
Lession-43
Amendement of Registraion is not allowed once the GSTIN has been received.
TRUE
FALSE
TRUE
FALSE
In the GST portal, you need to go to Service>>Registration>>Amendment of Nomn Core Filed to Amend any detail under GSTIN.
TRUE
FALSE
FALSE
GSTIN can be canceled only by GSTIN officer.
TRUE
FALSE
FALSE
Application for the Cancellation of GSTIN can be done in the GST portal by logging in and then going to Service>>Registration>>Application of Cancellation of GSTIN.
TRUE
FALSE
TRUE
FALSE
GSTR2A is an auto-populated report of the Purchase Invoice that is uploaded by a supplier in GSTR1.
TRUE
FALSE
TRUE
FALSE
Lession-44
A compound unit is a combination of ___ simple units.
Two
Three
Four
Two
Three
Four
You need to use the _____ format to upload different GST reports on the GST portal.
JSON
Excel
PDF
XML
The term 'intrastate outward services' refers to _______.
purchase from another state
sales made outside the state
purchase from within the same state
sales within the same state
sales made outside the state
purchase from within the same state
sales within the same state
To print an invoice that you made, go to Gateway of Tally > Display > ___ and select the required voucher.
Inventory Books
Account Books
Trial Balance
Day Book
Account Books
Trial Balance
Day Book
To modify GST details, set 'Set/alter GST details' to Yes.
TRUE
FALSE
FALSE
Lession-45
GSTR2A is like filing a tax return.
TRUE
FALSE
FALSE
GSTR2A does not have to really match with the books of accounts.
TRUE
FALSE
FALSE
Invoice matching of Purchase with supplier GSTR1 can be done in ___
GSTR1A
GSTR2A
GSTR3
GSTR3B
GSTR2A
GSTR3
GSTR3B
Show Cause Notice means an Order or Scrutiny issued by the department for a query. Question
TRUE
FALSE
FALSE
Payment of Tax can be done at the time of ____ filling.
GSTR1
GSTR2A
GSTR3B
None of the above
GSTR2A
GSTR3B
None of the above
Lession-46
In case of any GST liability under GSTR3B, _______is must. Question
Set off of ITC
Challan Generation
Filing GSTR1
All of above
Challan Generation
Filing GSTR1
All of above
3.1 Table in GSTR3B shows___________.
Summary of Sales
Summary of ITC
Net Tax
None of then above
Summary of ITC
Net Tax
None of then above
Eligible ITC can be seen in GSTR3B in table number __ in the GST portal.
4
5
3.1
6
GSTR1 form is __________report
Sales
Purchase
Net Liability
None of the above
Purchase
Net Liability
None of the above
GSTR1 in case of Regular return needs to be uploaded on _______ basis.
Monthly
Quarterly
Half-Yearly
Yearly
Lession-47
The ledger for transport is created under which accounting group? Question
Quarterly
Half-Yearly
Yearly
Lession-47
The ledger for transport is created under which accounting group? Question
Sundry Debtor
Sundry Creditor
Indirect Expenses
Direct Expenses
Sundry Creditor
Indirect Expenses
Direct Expenses
Which of the following is mandatory if a transporter is not GST registered?
PAN
Mobile Number
Transporter ID
Bank Account Number
Mobile Number
Transporter ID
Bank Account Number
Assume a company used its own vehicle to transport goods. Which of the following is mandatory while recording the transport details for a sales invoice?
Transporter ID
Your PAN
Your GSTIN
Vehicle Number
Your PAN
Your GSTIN
Vehicle Number
Enable e-way bill set up in Tally from --------. Question
F11: features> F1: Accounts
F11: features>F2: Inventory
F11: features>F3: Statutory
F12: Configuration
You have to mention e way bill threshold limit during every voucher entry.
TRUE
FALSE
FALSE
Lession-48
What does TDS stand for? Question
An e-commerce operator can deduct TCS on the goods and services received.
TRUE
FALSE
TRUE
FALSE
What does ISD stand for? Question
Input Service Seller
Input Service Buyers
Input Service Distributor
None of the above
Input Service Buyers
Input Service Distributor
None of the above
Transitional Credit facility under GST is available only for ___ months from the date of implementation of GST. Question
6
7
8
9
You can a record a ____ voucher to raise the liability towards interest, penalty, late fee, or other dues.
journal
payroll
receipt
payment
Lession-49
journal
payroll
receipt
payment
Lession-49
In Tally, to enable payroll for a company, which keyboard shortcut is used?
F10
F9
F12
F9
F12
Employee Masters
Payroll Configurations
Payroll Masters
Pay Heads
Payroll Configurations
Payroll Masters
Pay Heads
The option ‘Maintain more than one payroll or cost category?’ can be seen on which screen?
Accounting Features
Payroll Configuration
Employee Group Creation
Employee Alteration form
Payroll Configuration
Employee Group Creation
Employee Alteration form
You can enter detailed information about all your employees through the Multiple Employee Creation screen.
TRUE
FALSE
TRUE
FALSE
Payroll Units can be either Simple or Compound. Question
Lession-50
______ are used to define a Pay Structure of an Employee or an Employee Group. Question
Employee Masters
Pay Heads
Payroll Units
Salary Details
There are _____ types of Payroll Vouchers in Tally. Question
2
3
5
7
The keyboard shortcut for opening an Attendance voucher is ______. Question
Ctrl+F3
Ctrl+F2
Ctrl+F4
Ctrl+F5
Attendance values cannot be auto-filled in the Attendance Voucher Creation screen. Question
TRUE
FALSE
Which of these is not a payroll voucher?
Question
Attendance
Payroll
Payment
Deductions
Lession-51
If you want to open the Accounting Features screen from Company Features, you should press the _____ key. Question
F1
F2
F11
F12
Creating ______can help you classify employees based on parameters such as their job functions, departments, etc. Question
Employee Accounts
Employee Groups
Employee Masters
Pay Heads
You should use the 'Attendance/Leave with Pay' option to record negative attendance. Question
TRUE
FALSE
FALSE
Which of the following is/are pay head types?
Bonus
Loans and Advances
Gratuity
All of the above
Loans and Advances
Gratuity
All of the above
It is possible to alter the values of individual Pay Head elements in the same Pay Group. Question
TRUE
FALSE
Lession-52
Tax Deducted at Source (TDS) is an indirect tax collected at the prescribed rate from the income source. Question
TRUE
FALSE
_______ is one of the modes for collecting the income tax at the source.
Question
GST
TAN
TDS
VAT
To create the TDS Nature of Payment, you need to go to Gateway of Tally > Accounts Info. > Statutory Info. > TDS Nature of Pymts > Create.
TRUE
FALSE
FALSE
In Tally, you can book expenses by recording the ____ voucher.
payment journal receipt
All of the above
All of the above
As per the Income Tax Act, every corporate and government entity is liable for ______ of TDS.
Question extension increase addition
deduction
deduction
Lession-53
What action can be done using the keyboard shortcut Alt+F12 on the Profit and Loss account?
view company features
configure a report
set range of information
view the balance-sheet
configure a report
set range of information
view the balance-sheet
A ______ is a financial statement which shows the financial position of a firm. Question
Balance-Sheet
Profit & Loss Account
Receipts & Payment Account
Trial Balance
Which of these is neither a register nor a ledger type recognized by Tally?
Question
Day Book
Contra Entry
Bank Book
Sales Register
The keyboard shortcut Ctrl+F12 helps you to perform which action? Question
View company features
Configure a report
Set range of information
View the balance-sheet
If you select a row from a column and accidentally press Alt+D, the column will be ____.
added
renamed
deleted
duplicated
renamed
deleted
duplicated
Lession-54
If you need to pay money on a bill, the bill becomes ______. Question
Bills Exchangeable
Bills Payable
Bills Reachable
Bills Receivable
Using the key combination Alt+T will allow you to enter the subtitle of the Balance Sheet report? Question
TRUE
FALSE
Which of these vouchers lists all transactions made on a particular day?
Question
Credit Note voucher
Day book
Detailed Trial Balance report
Post Dated voucher
The ratio analysis report is divided into two parts: ______ and ______.
Question
Principal analysis,Principal groups
Principal analysis,Principal ratios
Principalgroups,Principalratios
Principalratios,Principalreports
Which of these is not a print format offered by Tally? Question
DotMatrix
InkjetMode
NeatMode
Quick/Draft
Lession-55
A compound unit is a combination of ___ simple units.
Question
Two
Three
Four
To activate GST for your company, open the company and press __
Accounting Features > F3: Statutory & Taxation
Question F11
F12
F10
F9
The SQL query language in Tally.ERP 9 is used to _____ information.
delete
retrieve
upload
retrieve
upload
None of the above
The process of listing items that make up another item is termed as ___. Question
Bill Settlement
Batch-wise Details
ActualandBilledQuantity
BillofMaterials
The Batch-wise details feature is used to identify the movement of inventories in batches. Question
TRUE
FALSE
Lession-56
What is contributed by the owners or shareholders and financial institutions in the form of the cash? Question
Capital
Productsandservices
Returnsoninvestments
Cash is an example of what? Question
Assets
Liabilities
Profit
Loss
Accounts which are related to expenses, losses, incomes or gains are called ____ accounts. Question
Personal
Real
Nominal
_______ are the amount payable against the credit purchase.
Question
Stocks
Assets
Liabilities
Discounts
Which of these options should be set to Yes if you want to include a different name for the employee in the payroll reports? Question
ProvideContractDetails
ShowEmployeeDisplayName
ShowResigned/RetiredEmployees
ShowStatutoryDetails
Lession-57
The Batch-wise details feature is used to identify the movement of inventories in batches. Question
TRUE
FALSE
The process of listing items that make up another item is termed as ___.
Question
BillSettlement
Batch-wiseDetails
ActualandBilledQuantity
BillofMaterials
While taking the backup,______ is the location where the data backup files for multiple companies are stored.
Question
Directory
Server
Destination
Source
Which indirect tax was applicable prior to GST on goods? Question
Servicetax
VAT
Exciseduty
For availing input tax credit, the taxpayer has received ________. Question
Goods
Services
Goodsand/orServices
Lession-58
Which document do you need to prepare for cash sales? Question
Cheque
CashMemo
DebitNote
Receipt
Inventory Info menu is mainly about _____.
Question
ledgers groups
stocks
vouchers
If you wish to create an item group on the Stock Item Creation screen, use the keyboard shortcut ______.
Question
Alt+A
Alt+C
Alt+I
Alt+G
_______ are used to maintain details of all sales and purchase transactions at the invoice level. Question
Bill-wiseDetails
CreditNoteVouchers
MultipleCurrencies
TrialBalances
Which button is clicked to open the Inventory Features screen from Gateway of Tally? Question
F1:ShutComp
F2:Date
F11:Features
F12:Configure
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