Take Exam - Tally Account

Question 1: VAT stands for

Value Added Tax Verified Added Tax Value Account Tax Virtual Added Tax

Question 2: Fixed Assets include

Furniture Creditors Cash Capital

Question 3: Sales Tax has been replaced by

GST VAT TDS Excise

Question 4: Which voucher records cash withdrawals from bank

Contra Receipt Journal Sales

Question 5: F9 in Tally is used for

Purchase Voucher Sales Voucher Receipt Voucher Payment Voucher

Question 6: Which shortcut key is used to open a company

Alt+F3 Alt+F1 Alt+O Alt+C

Question 7: To create cost centre go to

Accounts Info ? Cost Centres Inventory Info ? Stock Item Display ? Reports None

Question 8: Purchase Account belongs to

Expense Income Asset Liability

Question 9: Tally supports how many types of units

Simple and Compound One Complex Single

Question 10: Credit sale is recorded in

Sales Voucher Purchase Voucher Receipt Payment

Question 11: Group means

Collection of Similar Ledgers Collection of Vouchers Collection of Items Collection of Employees

Question 12: Drawings belongs to

Capital Current Liabilities Expense Current Assets

Question 13: Opening stock appears in

Trading Account Profit and Loss Balance Sheet Journal

Question 14: Which key is used for company configuration

F12 F11 F2 F1

Question 15: Voucher Class is used for

Automating Entries Creating Ledger Stock Entry Reports

Question 16: Cost Centre is used for

Departmental Accounting Payroll Inventory GST

Question 17: Tally supports how many financial years

Unlimited 1 10 5

Question 18: Prepaid Rent is

Asset Expense Liability Income

Question 19: Machinery is

Fixed Asset Current Asset Liability Expense

Question 20: Which voucher is used for purchase return

Debit Note Credit Note Journal Purchase

Question 21: Rent Paid is

Expense Income Asset Liability

Question 22: The full form of Tally is

Transactions Allowed in a Linear Line Yards Total Accounting Logical Layer Year There is no full form Transaction Accounting Language

Question 23: Which menu shows financial statements

Display ? Statements Gateway ? Display Accounts Info None

Question 24: To close all open reports press

Esc Ctrl+Q Alt+Q F1

Question 25: Cash is

Current Asset Fixed Asset Liability Expense

Question 26: Which voucher is used for sales return

Credit Note Debit Note Receipt Payment

Question 27: Tally allows import of data from

XML DOC JPG PDF

Question 28: TDS report is under

Statutory Reports Accounts Info Display Inventory Info

Question 29: Which key is used for company features

F11 F12 F2 F3

Question 30: Bank Reconciliation is used to

Match Bank Book Calculate Tax Post Journal Backup Data

Tally Account

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