1. Company restore option is available in ________.
a) Company reset
b) New company
c) company information
d) Edit company
Ans. c
2. To change current Date from Gateway of tally press the key ____.
a) F1
b) F2
c) F3
d) F4
Ans. b
3. Tally supports ________ system of accounting.
(a) single entry
(b) double entry
(c) no entry
(d) null entry
Ans. b
4. Tally can maintain ________ for stock keeping, so that fresh inventory may arrive before the old stock is exhausted.
(a) reorder level
(b) profit
(c) loss
(d) cash
Ans. a
5. Balance sheet is produced ________when accounts are maintained in Tally.
(a) manually
(b) automatically
(c) remotely
(d) randomly
Ans. b
6. The statement of account debits, credits, assets and liabilities is called______.
(a) stock & inventory report
(b) profit & loss account
(c) balance sheet
(d) cash balance
Ans. c
7. Pressing _______button in the Gateway of Tally opens company info in Tally.
(a) Alt+F3
(b) F11
(c) F5
(d) F6
Ans. a
8. Pressing______ key opens accounting features.
(a) Alt+F3
(b) F11
(c) F5
(d) F6
Ans. b
9. Payroll, budgeting and scenario management may be enabled through ______menu in Tally.
(a) Accounting Features
(b) Inventory Features
(c) Statutory and Taxation
(d) none of them
Ans. a
10. Account Groups, Ledgers, Budget and scenario are available under ______ in Tally.
(a) Payroll Info
(b) Inventory Info
(c) Accounts Info
(d) none of them
Ans. c
11. Inventory groups, (categories, if needed), items, units of measure, reorder level, inventory vouchers, etc. are available under _______in Tally.
(a) Payroll Info
(b) Inventory Info
(c) Accounts Info
(d) none of them
Ans. b
12. Employee groups, employee, attendance/ production types, pay heads, salary details, voucher types, etc. are available under in Tally.
(a) Payroll Info
(b) Inventory Info
(c) Accounts Info
(d) none of them
Ans. a
13. _____ is the shortcut to create contra voucher in Tally.
(a) F6
(b) F5
(c) F4
(d) F2
Ans. c
14. ______ is the shortcut to create payment voucher in Tally.
(a) F6
(b) F5
(c) F4
(d) F2
Ans. b
15. _______ is the shortcut to create receipt voucher in Tally.
(a) F6
(b) F5
(c) F4
(d) F2
Ans. a
16. ______ is the shortcut to configure a company in Tally.
(a) F6
(b) F5
(c) F4
(d) F12
Ans. d
17. ______ is the shortcut to change the accounting period from Gateway of Tally.
(a) F1
(b) Alt+F1
(c) Alt+F2
(d) Alt+F3
Ans. c
18. ______ is the shortcut to shut a company in Tally.
(a) F1
(b) Alt+F1
(c) Alt+F2
(d) Alt+F3
Ans. b
19. _____ is the shortcut to company info from Gateway of Tally.
(a) F1
(b) Alt+F1
(c) Alt+F2
(d) Alt+F3
Ans. d
20. _____is the shortcut to inventory buttons from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) F7
(d) F8
Ans. a
21.______ is the shortcut to payroll buttons from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) F7
(d) F8
Ans. b
22. _____ is the shortcut to Journal from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) F7
(d) F8
Ans. c
23. _____is the shortcut to sales voucher from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) F9
(d) F8
Ans. d
24. ______ is the shortcut to purchase voucher from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) F9
(d) F8
Ans. c
25. ______is the shortcut to credit note from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) Ctrl+F9
(d) Ctrl+F8
Ans. d
26. _____ is the shortcut to debit note from Accounting Vouchers in Tally.
(a) Alt+F1
(b) Ctrl+F1
(c) Ctrl+F9
(d) Ctrl+F8
Ans. c
27.______ is the shortcut to reversing journal from Accounting Vouchers in Tally.
(a) F10
(b) Ctrl+F10
(c) Alt+ I
(d) Alt+ V
Ans. a
28.______ is the shortcut to reversing journal from Accounting Vouchers in Tally.
(a) F10
(b) Ctrl+F10
(c) Alt+ I
(d) Alt+ V
Ans. a
29. _____ is the shortcut to Memos from Accounting Vouchers in Tally.
(a) F10
(b) Ctrl+F10
(c) Alt+ I
(d) Alt+ V
Ans. b
30. _____ is the shortcut to Accounting Invoice from Accounting Vouchers in Tally.
(a) F10
(b) Ctrl+F10
(c) Alt +I
(d) Alt +V
Ans. c
31. ______ is the shortcut to voucher as invoice from Accounting Vouchers in Tally.
(a) F10
(b) Ctrl+F10
(c) Alt +I
(d) Ctrl +V
Ans. d
32.______ is the shortcut to postdated voucher from Accounting Vouchers in Tally.
(a) Ctrl+ T
(b) Ctrl+F10
(c) Alt +I
(d) Ctrl +V
Ans. a
33.______ is the shortcut to optional voucher from Accounting Vouchers in Tally.
(a) Ctrl +T
(b) Ctrl +L
(c) Alt +I
(d) Ctrl +V
Ans. b
34.______ is the shortcut to Payroll from Payroll Vouchers in Tally.
(a) Alt+ A
(b) Alt+ S
(c) Ctrl+ F5
(d) Alt+F4
Ans. c
35. _____ is the shortcut to Attendance from Payroll Vouchers in Tally.
(a) Alt+ A
(b) Alt+ S
(c) Ctrl+F5
(d) Ctrl+F4
Ans. d
36. ______ is the shortcut to Payroll as Voucher from Payroll Vouchers in Tally.
(a) Alt+ A
(b) Alt+ S
(c) Ctrl+F5
(d) Ctrl+F4
Ans. b
37. _____ is the shortcut to Payroll Auto fill from Payroll Vouchers in Tally.
(a) Alt+ A
(b) Alt+ S
(c) Ctrl+F5
(d) Ctrl+F4
Ans. a
38. ______ is the shortcut to purchase order from Payroll Vouchers in Tally.
(a) Alt+F4
(b) Alt+F5
(c) Ctrl+F5
(d) Ctrl+F4
Ans. a
39. ______ is the shortcut to sales order from Payroll Vouchers in Tally.
(a) Alt+F4
(b) Alt+F5
(c) Ctrl+F5
(d) Ctrl+F4
Ans. b
40. _____ is the shortcut to physical stock verification from Inventory Vouchers in Tally.
(a) Alt+F4
(b) Alt+F5
(c) Alt+F7
(d) Alt+F10
Ans. d
41. ______ is the shortcut to stock journal from Inventory Vouchers in Tally.
(a) Alt+F4
(b) Alt+F5
(c) Alt+F7
(d) Alt+F10
Ans. c
42._____ is the shortcut to rejection in from Inventory Vouchers in Tally.
(a) Alt+F6
(b) Ctrl+F6
(c) Alt+F8
(d) Alt+F9
Ans. b
43.______ is the shortcut to rejection out from Inventory Vouchers in Tally.
(a) Alt+F6
(b) Ctrl+F6
(c) Alt+F8
(d) Alt+F9
Ans. a
44. _____ is the shortcut to Indent from Inventory Vouchers in Tally.
(a) Alt+F6
(b) Ctrl+F7
(c) Alt+F8
(d) Alt+F9
Ans. b
45. _____ is the shortcut to delivery note from Inventory Vouchers in Tally.
(a) Alt+F6
(b) Ctrl+F7
(c) Alt+F8
(d) Alt+F9
Ans. c
46. ______ is the shortcut to receipt note from Inventory Vouchers in Tally.
(a) Alt+F6
(b) Ctrl+F7
(c) Alt+F8
(d) Alt+F9
Ans. d
47. Tally maintains account using _______ entry system of accounting.
(a) single
(b) double
(c) triple
(d) quadruple
Ans. b
48. Entering each transaction in debit and credit columns is called____ entry system of accounting.
(a) single
(b) double
(c) triple
(d) quadruple
Ans. b
49. Prior allocation of money for specific purposes using Tally is called_____ .
(a) budgeting
(b) scenario
(c) inventory
(d) voucher entry
Ans. a
50. Progress of expenses against budget allocation may be compared to the trial balance of original company using ______menu in Trial Balance.
(a) Budget (Alt+ B)
(b) Column (Alt+ C)
(c) F6
(d) F7
Ans. a
51. Creating a hypothetical situation for a company is called_____.
(a) budgeting
(b) scenario
(c) inventory
(d) voucher entry
Ans. b
52. The voucher created for scenario is called _______voucher.
(a) purchase
(b) sales
(c) reversing journal
(d) payment
Ans. c
53. Reversing journal entries made for scenario _____ the original account of company.
(a) do not affect
(b) affect
(c) change
(d) permanently damage
Ans. a
54. Extra columns may be added to the original Trial Balance using _____menu in Trial Balance.
(a) Budget (Alt+ B)
(b) Column (Alt+ C)
(c) F6
(d) F7
Ans. b
55. Reversing journal entries may be made to scenario using ________shortcut under Accounting Vouchers in Tally.
(a) F5
(b) F6
(c) F7
(d) F10
Ans. d
56. _______ is the shortcut to delete an item in Tally.
(a) Alt+ D
(b) Alt+ Q
(c) Alt+ P
(d) Alt+ G
Ans. a
57.______ is the shortcut to quit/ exit/ close Tally.
(a) Alt+ D
(b) Alt+ Q
(c) Alt+ P
(d) Alt+ G
Ans. b
58. _____ is the shortcut to create a master at a voucher screen in Tally.
(a) Alt+2
(b) Alt+ A
(c) Alt+ C
(d) Alt+ E
Ans. c
59. Comparison of company performance against budget goals is called______ .
(a) variance analysis
(b) trial balance
(c) balance sheet
(d) profit & loss accounts
Ans. a
60. Cost centre can be created using______ menu in Features (F11) at Gateway of Tally.
(a) Accounting features
(b) Inventory features
(c) Statutory & taxation
(d) none of them
Ans. a
61. A number ranging from 0 to 1 (or as a percentage) to measure the performance of company against its potential is called_______.
(a) scenarios
(b) budgets
(c) ratio analysis
(d) voucher
Ans. c
62. Schedule VI of Companies Act specifies the format for ______report.
(a) balance sheet
(b) profit and loss accounts
(c) balance sheet & profit and loss accounts
(d) none of them
Ans. c
63. Stock maintained for production purpose is called_____.
(a) ledger
(b) payroll
(c) trial balance
(d) inventory
Ans. d
64. _____ is the shortcut for purchase order in Tally.
(a) F8
(b) F9
(c) Alt+F4
(d) Alt+F5
Ans. c
65. _____is the shortcut for sales order in Tally.
(a) F8
(b) F9
(c) Alt+F4
(d) Alt+F5
Ans. d
66. _____is the shortcut for purchase voucher in Tally.
(a) F8
(b) F9
(c) Alt+F4
(d) Alt+F5
Ans. b
67. _____ is the shortcut for sales voucher in Tally.
(a) F8
(b) F9
(c) Alt+F4
(d) Alt+F5
Ans. a
69. The head of account for a POS voucher should be under_____.
(a) Sales
(b) Purchase
(c) Expense (Direct)
(d) Income (Indirect)
Ans. a
70. In taxation, FBT stands for_____.
(a) Fringe Benefit Tax
(b) Frame Benefit Tax
(c) Fast Benefit Tax
(d) Fringe Benefit Tariff
Ans. a
71. The tax collected by the employer towards income of an employee is called____.
(a) Tax Deducted at Source (TDS)
(b) Tax Collected at Source (TCS)
(c) Fringe Benefit Tax (FBT)
(d) Value Added Tax (VAT)
Ans. a
72. The tax collected by the seller from the buyer is generally called____.
(a) Tax Deducted at Source (TDS)
(b) Tax Collected at Source (TCS)
(c) Fringe Benefit Tax (FBT)
(d) Value Added Tax (VAT)
Ans. b
73. The tax payable towards to perks/small benefits offered by the employer to the employees through extra means other than salary is called _____.
(a) Tax Deducted at Source (TDS)
(b) Tax Collected at Source (TCS)
(c) Fringe Benefit Tax (FBT)
(d) Value Added Tax (VAT)
Ans. c
74. The tax on the value added to an item is called ____.
(a) Tax Deducted at Source (TDS)
(b) Tax Collected at Source (TCS)
(c) Fringe Benefit Tax (FBT)
(d) Value Added Tax (VAT)
Ans. d
75. Language of Tally user interface can be changed using in Tally Window.
(a) Languages (Alt+ G)
(b) Delete (Alt+ D)
(c) Print (Alt+ P)
(d) Quit (Alt+ Q)
Ans. a
76. Tally ERP 9 supports about languages.
(a) 1
(b) 2
(c) 3
(d) 13
Ans. d
77.What is the purpose of financial management feature in Tally?
A Importing and exporting data
B For stock transfer
C To get daily balances and Transaction value
D To prepare purchase records
Ans. c
78.Which is prepared to ascertain actual profit or loss of the business?
A Balance sheet
B Book-keeping
C Profit and loss account
D Trading account
Ans. c
79.What is meant by current date in Tally?
A Calendar date
B Last voucher date
C Last worked date
D System date
Ans. c
80.Which are the things and properties for resale that converts into cash?
A Current assets
B Business Transaction
C Liabilities
D Purchase
Ans. a
81.Which function key is used to record fund transfer between cash and bank account?
A F4
B F5
C F6
D F7
Ans. a
82.Which document is issued by the receiver of cash to the giver of cash acknowledging the cash received voucher?
A Ledgers
B Journals
C Receipts
D Vouchers
Ans. c
83.What is termed as excess of credit side total amount over debit side total amount in profit and loss account?
A Credit
B Debit
C Loss
D Profit
Ans. d
84.Which is a statement of assets and liabilities?
A Balance sheet
B Journals
C Ledgers
D Trial balance
Ans. a
85 Which accounting system is incomplete and unscientific?
A Double Entry System
B Single Entry System
C Triple Entry System
D Multi Entry System
Ans. b
86. Which activity in Tally is used to find out the financial position of the organisation?
A Balance sheet
B Book-keeping
C Trading
D Profit and loss
Ans. a
87.What is referred to as buying and selling of goods?
A Normal account
B Real account
C Profit and loss account
D Trading account
Ans. d
88.What is a summarized record of all the transactions to every person, every property and every type of service?
A Account
B Journals
C Ledgers
D Vouchers
Ans. a
89.Which factor determines the cost of the product?
A Direct cost
B Elements of cost
C Indirect cost
D Standard cost
Ans. b
90.What is the shortcut key to export the report in ASCII, SDF, HTML or XML format?
A Alt + C
B Alt + D
C Alt + E
D Alt + X
Ans. c
91.Who gives benefits without receiving money, but will claim in future?
A Creditor
B Debtor
C Owner
D Worker
Ans. a
92. Which is the ledger grouping for bills receivable in Tally ERP9?
A Fixed asset
B Current asset
C Direct expenses
D Indirect expenses
Ans. b
93. What is the purpose of financial management feature in Tally?
A Handles different types of vouchers
B Allows importing and exporting data
C Provides budgeting option
D Provides option for data backup
Ans. c
94.What is the purpose of Inventory Management Feature in Tally?
A Provides option for data backup
B Provides all relevant information for any stock item in a single screen
C Provides daily balance and transaction value
D Provides option to upload reports on the website directly
Ans. b
95.Which term is used for receiving aspects of a transaction?
A Credit
B Debit
C Profit
D Receipt
Ans. b
96.What is the purpose of Tally audit feature in Tally ERP 9?
A Allows easy analysis of result / reports with graphical values
B Allows statutory reporting for VAT, CST, TCS, TDS, FBT, GST
C Allows splitting of company data into multiple companies
D Verify, validate and accept accounting information
Ans. d
97. Which combination of key is used to change the financial period in Tally?
A F2
B Alt + F2
C Ctrl + F2
D Shift + F2
Ans. b
98.Which combination of key is used to open “Tally Reference Manual”?
A Alt + H
B Alt + M
C Alt + R
D Alt + T
Ans. a
99.Which function of key is used the list / select a company in Tally?
A F1
B F3
C F5
D F7
Ans. a
100. Where does the transactions are entered, before taken to the appropriate ledger account?
A Balance sheet
B Journals
C Receipts
D Vouchers
Ans. b
101.Which term is used for the amount invested for starting a business by a person?
A Asset
B Capital
C Debit
D Liabilities
Ans. b
102.What is the purpose of Technological feature in Tally?
A Allows importing and exporting data
B Flexible units of measure
C Provides budgeting option
D Provides option for data backup
Ans. a
103.Which term is used for giving aspect of a transaction?
A Credit
B Debit
C Journal
D Voucher
Ans. a
104.Which term is used for all the amounts payable by a business concern to outsiders?
A Assets
B Capitals
C Debits
D Liabilities
Ans. d
105. Which is a statement of all the ledger account balance prepared at the end of particular period to verify the accuracy of the entries?
A Journals
B Receipts
C Trial Balance
D Vouchers
Ans. c
106.What is the purpose of Ctrl + Q key is the Gateway of Tally screen?
A Close the tally screen
B Quit tally current screen
C Exit with confirmation
D Exit without confirmation
Ans. d
107.What is the purpose of Alt + W key in Tally?
A Change the financial period
B Invoke Tally Reference Manual
C Open default web browser
D Exist Tally without confirmation
Ans. c
108.Which combination of function key is used to open inventory voucher‟s entry menu?
A Alt + F1
B Alt + F3
C Alt + F5
D Alt + F7
Ans. a
109.Which combination of key is used to save the information in Tally?
A Ctrl + A
B Ctrl + I
C Ctrl + S
D Ctrl + X
Ans. a
110.Which shortcut key is used to shut a company from the gateway of Tally screen?
A Alt + F1
B Alt + F3
C Alt + F5
D Alt + F7
Ans. a
111.Which register is used to post the journal entries periodically?
A Bill book
B Cash book
C Ledger
D Trial balance
Ans. c
112.Which sequence of option is used to view the trial balance on the screen?
A Gateway of Tally →Trial balance
B Gateway of Tally → Display → Trial Balance
C Gateway of Tally → Accounts Info → Trial Balance
D Gateway of Tally → Display → Account Book → Trial balance
Ans. b
113.Which report displays the summary of all the cost centres under a cost category?
A Category summary
B Cost centre Break-up
C Group Break-up
D Ledger break-up
Ans. a
114.Which function key is used to enter purchase?
A F6
B F7
C F8
D F9
Ans. d
115.Which function key is used to enter receipts?
A F2
B F4
C F6
D F8
Ans. c
116.Which shortcut key is used to open debit Note Voucher?
A Alt + F9
B Alt + F10
C Ctrl + F9
D Ctrl + F10
Ans. c
117.Which shortcut key is used to remove a line in a report in report screen?
A Alt + I
B Alt + R
C Alt + S
D Alt + X
Ans. b
118.Which feature offers a parallel classification of stock item?
A Stock categories
B Stock group
C Stock item
D Stock query
Ans. a
119.Which ratio evaluate the availability of cash to pay debit?
A Activity ratio
B Debit ratio
C Liquidity ratio
D Market ratio
Ans. c
120.Which function key is used to enter payment?
A F3
B F5
C F7
D F9
Ans. b
121.Which shortcut key is used to cancel a voucher in Day book / List of vouchers in Tally?
A Alt + D
B Alt + I
C Alt + S
D Alt + X
Ans. d
122. Rs. 20,000 withdraw from state bank, in which voucher type this transaction will be recorded
a) Payment
b) Receipt
c) Contra
d) Post-Dated
Ans. c
123. What is the advantage of a computer-based transaction processing system
a) Does not require as stringnent a set of internal controls
b) Will produce a more accurate set of financial statement
c) Eliminates the need to reconcile control accounts and subsidiary ledgers
d) Will be more efficient at producing financial statements
Ans. d
124. How many secondary groups are there in tally?
a) 15
b) 13
c) 28
d) 3
Ans. b
125. How many types of users are present in tally?
a) 1
b) 2
c) 3
d) 4
Ans. c
126. We can see working capital figure changing
a) Voucher configuration
b) Profit& Loss configuration
c) Balance Sheet configuration
d) Ledger configuration
Ans. c
127. Which of the following shows daily balance for a selected voucher type?
a) Daybook
b) Trial Balance
c) Balance sheet
d) None of these
Ans. a
128. Which option is used to move from one company to another when more than one companies are open?
a) Company info
b) Shut company
c) Select company
d) Company
Ans. c
129. Which of the following can be budgeted in tally?
a) Net Transactions
b) Closing Balance
c)Daybook
d) A and B
130. How many primary groups are there in tally?
a) 19
b) 28
c) 15
d) 20
Ans. c
131. “Alies” represents
a) Short name
b) Nick name
c) Code name
d) All of these
Ans. d
132. A?credit note? Is sent by…. To…….
a) Seller, buyer
b) Buyer, seller
c) customer, seller
d) Creditor, seller
Ans. a
133. Debit note is used for entering
a) Purchases
b) sales
c) purchase return
d) sales return
Ans. c
134. Changes in accounts are possible only in
a) Display mode
b) Alternation mode
c) Single mode
d) multiple mode
Ans. b
135. Income earned but not received is known as…..
a) Advance income
b) Proposed income
c) Earned income
d) Accured income
Ans. d
136. Which option is used to view stock items or group summary
a) Accounts Books
b) Inventory Books
c) Statutory Books
d) Display
Ans. b
137. Income tax number of the company will appear in which report ?
a) Cash/bank book
b) Profit and loss a/c
c) Reminder letter
d) none of these
Ans. d
138. How many inbuilt Accounts group are in tally by default?
a) 29
b) 31
c) 25
d) 34
Ans. b
139. Company features in tally includes
a) Accounting features
b) Inventory features
c) Statutory features
d) all of these
Ans. d
140. Bank account is…..
a) Personal account
b) Real account
c) Nominal account
d) intangible real account
Ans. a
141. Which option is used to view Trial Balance from Gateway of Tally?
a) Gateway of tally> Report> Trial Balance
b) Gateway of Tally> Trial Balance
c) Gateway of Tally > Reports> Display> Trial Balance
d) None of these
Ans. c
142. Accounting principle are divided into two types. These are
a) Accounting concepts
b) Accounting conventions
c) Accounting standard
d) 1 and 3 both
Ans. d
143. …. Are the liabilities which are payable after a long period.
a) Fixed liabilities
b) Miscellaneous expenditure
c) current liabilities
d) contingent liabilities
Ans. a
144. Closing stock come under……
a) current asset
b) Fixed asset
c) stock in hand
d) Direct income
Ans. c
145. Capital is treated as liabilities because of ….
a) Dual aspect concept
b) money measurement concept
c) Matching concept
d) Entity concept
Ans. d
146. 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
Ans. c
147. List of Optional Voucher we can get from
a) Cash Bank Books
b) Exceptional Reports
c) Accounts Books
d) Balance Sheet
Ans. b
148. Loans from individuals comes under ….. group
a) Fixed liabilities
b) Loans and advances
c) Current liabilities
d) Capital
Ans. b
149. Single Entry mode is applicable for
a) Receipt Voucher
b) Contra Voucher
c) Payment Voucher
d) All of these
Ans. d
150. 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
Ans. d
151. Reversing journal is a
a) Conventional Voucher
b) Unconventional Voucher
c) Both (a) and (b)
d) None of these
Ans. b
152. Which of the following is used for voucher entry?
a) Ledger Account
b) Groups
c) Sub- Groups
d) Depends on number of companies
Ans. a
153. To create scenario which option required to be activated
a) Use Rev journal & optional voucher in F12
b) Use Optional voucher in F11
c) Use Reversing voucher F11
d) Use rev journal & Optional voucher in F11
Ans. d
154. Which file in tally is used to record the import activity?
a) Tally dat
b) Tally ini
c) Tally imp
d) None of these
Ans. b
155. A trial balance is a…….
a) Ledger
b) journal
c) Account
d) List
Ans. d
156. In tally you get currency symbol option from…..menu.
a) Company creation
b) stock items units
c) Regional setting
d) None of these
Ans. a
157. To hide the name of the company you need to define
a) Security control
b) Tally Audit
c) Create at least user
d) Tally vault Password
Ans. d
158. 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 these
Ans. c
159. Discount column is available in _____.
a) Sales invoice
b) Purchase invoice
c) Both A and B
d) None of these
Ans. c
160. Recording of actual stock as Physically verified or counted is done through
a) journal
b) stock journal
c) Physical Stock
d) Sales
Ans. c
161. A trial balance is prepared
a) To prepare p & a/c
b) To test the arithmetical accuracy
c) For making of adjustments
d) To balance the a/c
Ans. b
162. Which account is the odd one?
a) Furniture
b) Land and buildings
c) Stock of raw materials
d) Plant and machinery
Ans. c
163. Find out which is not a Default Ledger in Tally.
a) Cash in Hand
b) capital Account
c) Profit & Loss
d) None of these
Ans. b
164. „Tally vault‟ is a….
a) Security mechanism
b) Ledger a/c
c) Cost category
d) None of these
Ans. a
165. Professionals usually maintain accounts as…..
a) Accounts with inventory
b) accounts only
c) Normal accounting
d) payroll accounting
Ans. b
166. Transfer of material from one godown to another godown, use
a) Manufacturing journal
b) Stock journal
c) Purchase journal
d) Both A & B
Ans. b
167. 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
Ans. b
168. Which of the following is not compulsory to create while entry in Accounts with inventory
a) Stock Groups
b) Stock items
c) Stock Categories
d) Units of Measure
Ans. c
169. To see reports of job work Analysis
a) Display-Statement of a/c
b) Display- Statements of a/cs - job work Analysis
c) Display- statement of a/cs - Job work analysis
d) None of these
Ans. b
170. Drawings accounts is to be created by linking with
a) Capital
b) Current asset
c) Current liability
d) Drawings
Ans. a
171. Budget represents ……
a) Estimation
b) Forecasting
c) Assumption
d) All of these
Ans. d
172. Bottom of tally screen shows
a) Button bar
b) List of vouchers
c) List of companies
d) calculator
Ans. d
173. By default, which mode is on in purchase and sales voucher
a) Normal mode
b) item invoice mode
c) Particular mode
d) None of these
Ans. b
174. The term current assets does not include…..
a) Debtors
b) B/r
c) Stock
d) Goodwill
Ans. d
175. An account that the user need not create is
a) Cash at bank
b) Sundry creditors
c) Cash in hand
d) Balance sheet
Ans. c
176. We can create multiple users in Tally activating
a) Tally Audit
b) Use Security Control
c) Both A and B
d) None of these
Ans. b
177. Multiple Godowns are activated from
a) F11
b) F11>F1
c) F11> F2
d) F11> F3
Ans. c
178. Suspense Accounts Group is defined under
a) Income
b) Expenditure
c) Liabilities
d) Assets
Ans. c
179. We can get the report of interest from.
a) Account Books
b) Cash and Fund flow
c) inventory Books
d) Statements of Accounts
Ans. d
180. „Inventory books‟ is used to view
a) Stock items
b) Group Summary
c) Both A and B above
d) None of these
Ans. c
181. F12 button is used to select…… option.
a) Select company
b) more features
c) Inventory
d) Configuration
Ans. d
182. Which of the following is the predefined stock category in tally
a) Primary
b) Symbol
c) Stock
d) Main location
Ans. a
183. …..refers the amount invested by the owner into business.
a) Loan
b) Advance
c) Capital
d) Prepaid expenses
Ans. c
184. We can see list of memorandum Voucher from
a) Cash/ Bank Books
b) Exception Reports
c) Accounts Books
d) Trial Balance
Ans. b
185. Which of the following file is usually used as a master file
a) Inventory subsidiary
b) Cash disbursements
c) Cash receipts
d) Payroll transactions
Ans. a
186. Collection of ledgers of same nature is called
a) Vouchers
b) asset
c) Group
d) None of these
Ans. c
187. Predefined groups are also called as
a) Main group
b) Primary group
c) Statutory
d) Parent group
Ans. c
188. Which option is used to place data taken in pen drive or CD to Appropriate place in Tally.
a) Backup
b) Restore
c) Split company Data
d) None of these
Ans. b
189. Which option is selected from company info menu to divide company data into two financial years a) Change Tally vault
b) Alter
c) Split Company Date
d) New Company
Ans. c
190. Adjustment entries can be entered in
a) Contra voucher
b) Journal Voucher
c) Sales voucher
d) Purchase voucher
Ans. b
191. _____ is an example of tangible assets
a) Furniture
b) Debtors
c) Patent
d) Discount of issue of shares and debentures
Ans. a
192. 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
Ans. c
193. Carriage inwards can be included in
a) Direct expenses
b) indirect expenses
c) current liability
d) Misc Expenses
Ans. a
194. 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
Ans. c
195. Which of the following is not a transaction
a) Goods are purchased on cash basis for rs 1000
b) Salaries paid for the amount of may 2009
c) Land is purchased for rs 10 lakhs
d) An employee is dismissed from the job
Ans. d
196. The profit & loss statement can be displayed in ….. format.
a) Horizontal
b) Vertical
c) A or B
d) None of the above
Ans. c
197. ….is the expense which is unpaid at the end of the accounting period
a) Outstanding expenses
b) prepaid expenses
c) proposed expenses
d) working capital
Ans. a
198. To activate MRP feature from gateway of tally initially we need to press
a) F11
b) F12
c) F10
d) Alt + F1
Ans. b
199. …. Is the book of original entry
a) journal
b) Voucher
c) Invoices
d) Ledger
Ans. a
200. Taxes paid come under which group?
a) Capital
b) Loans and liabilities
c) Direct expenses
d) Duties and taxes
Ans. d
201. 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
Ans. d
202. Which menu appears after starting Tally for the first time
a) Gateway of Tally
b) Company info
c) Display
d) None of these
Ans. b
203. A company can be deleted only in
a) Display
b) alter
c) delete
d) Create
Ans. b
204. How many options related to Company Features are there in F11:Features in Tally
a) 3
b) 2
c) 4
d) 5
Ans. a
205. … button helps to connect data from spread sheet or other application
a) E-mail
b) Help
c) Export
d) Browser
Ans. c
206. Which unit is created for stock items like grains, pulse, sugar, oil, ghee etc.
a) Lts.
b) Nos
c) Kgs
d) Box
Ans. c
207. Which of the following is not a disadvantage of introducing computerized accounting system
a) Possible demotivation through reundance
b) High expenditure of set up
c) Saving made on labour cost
d) Required staff training
Ans. c
208. Capital of the company is included under
a) Capital account
b) Fixed liabilities
c) Loans and advances
d) Current liabilities
Ans. b
209. ….. Allow components list details (Bill of Material)? Option is activated for
a) Ledger
b) Cost category
c) Stock items
d) Budgets
Ans. c
210. Party account can be created through?
a) Group creation window
b) Ledger creation window
c) Inventory creation window
d) Any one of these
Ans. b
211. Which shortcut key is pressed to display Part No. for automobile industries
a) F1
b) F2
c) F11
d) F12
Ans. d
212. E- mail can be used to
a) Send mail directly from tally screen
b) To send e-mail
c) Download information
d) Access help
Ans. a
213. The rate of trade discount varies with the …. Purchased
a) Total asset
b) Current asset
c) Quantity
d) None of these
Ans. c
214. How many voucher types area readily available in Tally?
a) 18
b) 16
c) 20
d) 28
Ans. a
215. Retained Earning is an alias of
a) Indirect Income
b) Reserve and Surplus
c) Capital Account
d) Investments
Ans. b
216. Branch / Division is a group defined under
a) Liabilities
b) Assets
c) Income
d) Expenditure
Ans. a
217. The voucher type for recording goods received
a) Rejected in
b) Receipt note
c) Purchase order
d) Stock voucher
Ans. b
218. Default “Godown” name in tally is….
a) Primary
b) Main location
c) A or b
d) None of the above
Ans. b
219. 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
Ans. c
220. Stock category and stock group are same
a) True
b) False
Ans. b
221. It is possible to use cash/bank in journal mode
a) True
b) False
Ans. a
222. Allocation against bill are done automatically
a) True
b) False
Ans. a
223. Tally supports trading inventory
a) True
b) False
Ans. a
224. _____ godown facility is available in Tally
a) Single
b) Multi
Ans. b
225. It is possible to search voucher in Tally.
a) True
b) False
Ans. a
226. Alt + D is used to
a) Create any voucher
b) Delete any voucher
c) Copy any voucher
d) None of the above
Ans. b
227. The executable file of Tally is
a) Tally.exe*
b) WinTally.Exe
c) Tally.ini
d) Tally.Sav
Ans. a
228. Tally has been developed using
a) c
b) Visual Basic
c) C++
d) None of these
Ans. c
229. The location of saving data of company can be altered by changing the
a) Tally.exe
b) Tally.data
c) Tally.ini
d) Tally.sav
Ans. c
230. Tally programme files are stored in
a) Data Directory
b) Application Directory
c) Configuration Directory
d) None of these
Ans. b
231. Tally data files are stored in
a) Data directory
b) Application Directory
c) configuration Directory
d) none of these
Ans. a
232. Tally configuration files are stored in
a) Data Directory
b) Application Directory
c) Configuration Directory
d) none of these
Ans. c
233. There is no “Help” option in Tally 7.2
a) True
b) False
Ans. b
234. The backup file is stored as
a) TBK500.001
b) TAK500.001
c) TCK500.001
d) TDK500.001
Ans. a
235. We can view the interest Calculation report from
a) Accounts info.
b) Accounts Book
c) Statement of Accounts
d) None of these
Ans. c
236. For data restoration company creation is compulsory.
a) True
b) False
Ans. b
237. To directly log on to Tally web site, we have to press Alt+ W.
a) True
b) False
Ans. a
238. To create a Group Company, we have to always open at least 3 companies.
a) True
b) False
Ans. b
239. To pass the Sales challan, we have to select Delivery Note.
a) True
b) False
Ans. a
240. Tally does not provide Budget Variance report.
a) True
b) False
Ans. b
241. _____ feature helps the administrator to track changes in the accounts.
a) Tally Audit
b) Tally Vault
c) Tally Gold
d) None of these
Ans. a
242. The maximum number of decimal places, that can be activated is
a) 4
b) 3
c) 2
d) 1
Ans. a
243. We can create ____ level (s) of cost centres.
a) 10
b) 5
c) single
d) unlimited
Ans. d
244. To pass the TDS transaction in the journal entry mode, we have to press
a) Alt + C
b) Alt + S
c) Alt + N
d) Alt + F4
Ans. b
245. We can view the interest Calculation report from
a) Accounts info.
b) Accounts Book
c) Statement of Accounts
d) None of these
Ans. c
246. Tally does not provide Budget Variance report.
a) True
b) False
Ans. b
247. To pass the Sales challan, we have to select Delivery Note.
a) True
b) False
Ans. a
248. How many types of Measurment Units we can create in Tally?
a) 5
b) 4
c) 3
d) 2
Ans. d
249. Data folder of a company consists of
a) 3 digits
b) 4 digits
c) 6 digits
d) 5 digits
Ans. d
250. To hide the name of the Company you need to define
a) Report Voucher
b) Conventional Voucher
c) Unconventional Voucher
d) Both A and B
Ans. c
251. While exporting ledgers from Tally to Web page, we use
a) ASCII Format
b) XML Format
c) SDF Format
d) HTML Format
Ans. d
252. For Export of Data from Company to Company Tally users
a) XML format
b) ASCII Format
c) SDF Format
d) PDF Format
Ans. a
253. To activate MRP features from Gateway of Tally initially we need to press
a) F10
b) F11
c) F12
d) Alt + F1
Ans. c
254. Bank OCC account is a group defined under
a) Bank Account
b) Loan and Liability
c) Secured loan
d) Unsecured Loan
Ans. b
255. To show the cheque number while reconciling Bank Account Press
a) Ctrl + F11
b) Ctrl + F12
c) F11
d) F12
Ans. d
256. Optional voucher is______
a) Voucher which update figures
b) Voucher Type is emergency
c) Temporary voucher which does not update any figure any where
d) None of the above
Ans. c
257. Balance sheet display _______
a) Bank and cash Balances
b) Balances of all individual account
c) Entire summary of the all Transaction
d) Exact financial position of the business on specific date
Ans. d
258. Contra Voucher is used for______
a) Reports
b) Master Entry
c) Cash account to Bank Account or Bank Account to Cash Account
d) None of the options
Ans. c
259. Closing stock appears in_____
a) Journal Voucher
b) Trial Balance
c) Profit & Loss A/C
d) Balance Sheet
Ans. d
260. Tally can maintain accounts for________ company/companies.
(a) 9
(b) 99
(c) 99,999
(d) 100
Ans. c
261.Which area in Tally screen provides quick access to different options?
A Button bar
B Calculator
C Product info
D Work area
Ans. a
262. What is the rule for real account?
A Debtor the receiver, Creditor the giver
B Debtor the giver, Creditor the receiver
C Debit comes in, Credit goes out
D Debit goes out, Credit comes in
Ans. c
263. Salary account comes under which head?
a) indirect income
b) indirect expenses
c) Direct Incomes
d) Direct Expenses
Ans. b
264. The left hand side of tally screen shows
a) Current date
b) Last entered voucher
c) Gate way of tally
d) List of selected companies
Ans. d
265. Which option is used in Tally to close opened company?
a) Alter
b) Shut company
c) Create company
d) Select company
Ans. b
266. ETCS means
a) Enable Tax collected at source
b) Electronic Tax Collected at source
c) Electric Tax Collected at source
d) None of these
Ans. b
267. ERP stands for
a) Enterprise resource planning
b) Economic resource planning
c) Efficient resource planning
d) Economic resource planning
Ans. a
268. The home screen of tally is also known as
a) menu bar
b) Gate way of tally
c) Accounts info
d) Button tool bar
Ans. b
269. What is TAN?
a) Tax Absorb Number
b) Tax Assign Number
c) Tax Account Number
d) Tax Assessment Number
Ans. d
270. What is MRP?
a) Market Price
b) Marginal Price
c) Maximum Retail Price
d) Minimum Retail Price
Ans. c
271. Tally Package is developed by ________.
a) Tally solutions
b) Tally corporation
c) Tally company
d) Tata company
Ans. a
272. Financial Year period is ______.
a) 1 April to 31 March
b) 1 January to 31 December
c) 1 june to 31 july
d) none of these
Ans. a
273. Tally is a _______ software.
(a) spreadsheet
(b) accounting
(c) publishing
(d) animation
Ans. b
274. Tally can provide _______ to each company.
(a) password security
(b) no security
(c) barrier
(d) wrapper
Ans. a
275. Tally allows data entry in _______ language(s).
(a) only Tamil
(b) only English
(c) only Hindi
(d) many Indian/Asian
Ans. d
276. ______ is the shortcut to set date in Tally.
(a) F6
(b) F5
(c) F4
(d) F2
Ans. d
277. ______is the shortcut to Print a report from Tally.
(a) Alt+ D
(b) Alt+ Q
(c) Alt+ P
(d) Alt+ G
Ans. c
278. _____ is the shortcut to change the language in Tally.
(a) Alt+ D
(b) Alt+ Q
(c) Alt+ P
(d) Alt+ G
Ans. d
279. ______ is the shortcut to export a report to different format in Tally.
(a) Alt+2
(b) Alt+ A
(c) Alt+ C
(d) Alt+ E
Ans. d
280. POS stands for ______ in accounting/Tally.
(a) Purchase of Sale
(b) Point of Safety
(c) Purpose of Sale
(d) Point of Sale
Ans. b
Tally MCQ,
PREPARED BY SONU HUTSON, GK EDITORIAL, RE-EDITED BY
PODMESWAR, ONLY FOR FAIR USE
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