A to Z Computer Knowledge
TALLY ERA टेक अ चॅलेंज (TAC)
Accounting is the process of systematically recording, classifying, and summarizing the financial information.
Ans - True
In the single entry system, all the credit transactions and accrued liabilities are omitted.
Ans - True
3. _______ are the amount payable against the credit purchase.
Ans - Liabilities
4. 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.
Ans - True
5. Which of these record different types of incomes or expenses?
Ans - Nominal account
6. Which of these is the closing balance of all the ledger accounts (except closing stock) for a specific date?
Ans - Trial balance
7. Manual accounting requires a lot of manpower as compared to the computerized accounting.
Ans - TRUE
8. Tally Solutions was founded in the year ______.
Ans - 1986
9. The Tally Help option appears on _______.
Ans - Horizontal Button Bar
10. If you see a single underline below a keyboard character in Tally, you should press which special key along with it?
Ans - Alt
11. Directory is the path where the company data is stored in Tally.
Ans - True
12. If you delete a company, you can still recover its records.
Ans - False
13. In order to set various company features required for transaction entries, click F11: Features on the ______.
Ans - Vertical button Bar
14. To go to Accounting Features, you need to use which function key?
Ans - F11->F1
15. The Default Credit Period option is displayed on enabling which of these options?
Ans - Maintain Bill-wise Details
16. A/An ______ is a unit of an organization to which transactions can be posted.
Ans - Cost Centre
17. Using the invoice format for a sales invoice entry is good for which of the following reasons?
Ans - It enables calculations of Duties and Taxes accounts
18. The 'Maintain Multiple Mailing Details for Company & Ledgers' option allows you to alter a company's mailing details.
Ans - True
19. The ______ option should be set to Yes for tracking stock movement across multiple Godowns.
Ans - Maintain Multiple Godowns
20. The ______ option is active only if the Allow Invoicing option is set to Yes.
Ans - Separate Discount column on Invoices
21. If you set the _______ option to Yes, you do not need to separately debit ledger accounts for expenses.
Ans - Track additional costs of Purchase
22. The 'Track Stock Item Cost' option is used to analyze an item's cost.
Ans - True
23. In Tally, ______ features are used to connect to a server remotely.
Ans - TSS
24. International accounting terminology cannot be applied in Tally.
Ans - False
25. If you want to give a code to stock items, you should set which of these options to Yes?
Ans - Use PART NUMBERS for Stock Items
26. Where are inventory details displayed by default?
Ans - Voucher Entry screen
27. Which of these options should be set to Yes if you want to include a different name for the employee in the payroll reports?
Ans - Show Employee Display Name
28. For which e-mail server should the option 'Use SSL on Standard Port' be set to Yes?
Ans - Hotmail
29. You should enable which of these options if Error 16004 keeps appearing?
Ans - Connect to Tally.NET Server running on non HTTP port?
30. Inventory Info menu is mainly about _____.
Ans - Stocks
31. You need to create a new group for the Direct expenses ledger in Tally.
Ans - False
32. Which of these is used to view the list of primary and secondary groups in Tally?
Ans - List of Accounts
33. Which shortcut key is used to delete the group?
Ans - Alt+D
34. Ledgers that have financial transactions of the same nature are classified under a single group.
Ans - True
35. The alias feature allows you to refer a ledger either by the name or alias.
Ans - True
36. Which shortcut key is used to view the ledger configurations?
Ans - F12
37. Inventory information contains the details of inventory masters.
Ans - True
38. To create a Stock Group, go to Gateway of Tally > Inventory Info. > Stock Group > _____
Ans - Create
39. Which of these options from the Inventory Info menu is used to view a single stock category or multiple stock categories?
Ans - Stock Categories
40. The Third party stock with us option is used when the godown is used to record details of third party goods with the company.
Ans - True
41. Stock items are purchased or sold based on their _____ and ____.
Ans - Quantity, unit
42. Which shortcut key is used to configure a stock item?
Ans - F12
43. To record additional costs on a purchase, you need to enable ____.
Ans - Track additional cost of purchase
44. Which keyboard shortcut is used to create a Purchase voucher?
Ans - F9
45. Which keyboard shortcut is used to create a Sales voucher?
Ans - F8
46. When items in the purchase invoice have the same unit of measurement, you should use Appropriate by quantity.
Ans - Quantity
47. To use the Tracking Number feature, set the 'Use rejection inward and outwards notes' options to No.
Ans - False
48. Zero valued entries are used when you deliver goods as replacements or free samples.
Ans - True
49. Which button is clicked to open the Inventory Features screen from Gateway of Tally?
Ans - F11: Features
50. You can consider different items as part of the same batch if these items have the same_____ date.
Ans - Purchase
51. To view different pre-defined voucher types, click ____ on the Vertical Button Bar.
Ans - Ctrl+V
52. The Stock journal is used to transfer different materials from one godown to another within the same company.
Ans - True
53. A _____ is the record of an authenticated document for different materials taken out from the stock for different purposes.
Ans - Bill of Material
54. The Bill Settlement option is used to settle selected or all bills from the list of bills displayed in the _____ report.
Ans - Outstanding
55. When you enable the Bill of Materials option, you can see changes in the Stock Item Creation screen.
Ans - False
56. The current rate of exchange is the _____rate in Tally.
Ans - Standard
57. Which of these keyboard shortcuts is used to create masters through voucher?
Ans - Alt+C
58. What do the terms 'Cr' and 'Dr' stand for in Tally?
Ans - Credit and Debit
59. Pressing the F6 key in Accounting Vouchers will open the _____ voucher.
Ans - Receipt
60. You should use this voucher when your company sells some goods.
Ans - Sales
61. Suppose you purchased 500 sports equipment on credit and are yet to make the payment. This purchase should be recorded in which voucher?
Ans - Journal
62. For viewing advanced configurations related to Credit Note vouchers, the F12 key should be pressed twice.
Ans - True
63. The _____ voucher is used when items are not yet approved.
Ans - Memo
64. A _______ is a summary of all ledger balances.
Ans - Trial Balance
65. You should use which adjustment method when you do not know which bills need to be adjusted with money?
Ans - On account
66. On 14th September, you sent an invoice of Rs. 73,000 to Goa Computers towards the sale of 500 CPUs. This is a _______.
Ans - Sales Invoice
67. In multi-currency transactions in Tally, the ongoing or current exchange rate is known as the _______ rate.
Ans - Standard
68. If you wish to create an item group on the Stock Item Creation screen, use the keyboard shortcut ______.
Ans - Alt+C
69. A ______voucher is used to record the details of transactions involving customer orders for stock items.
Ans - Sales Order
70. On 4th July, your company delivered 800 school bags to RK Enterprises. Which voucher should be used to record this transaction?
Ans - Delivery Note Voucher
71. Using the keyboard shortcut ______ inside Inventory Vouchers opens a Rejections In voucher.
Ans - Ctrl+F6
72. To open a Stock Journal, you should use which keyboard shortcut?
Ans - Alt+F7
73. On 13th May, KM Sports ordered 400 sports shoes from your company. For this transaction, you should select Purchase Order.
Ans - False
74. You can connect only one company through Tally.NET.
Ans - False
75. By default, the Tally.NET user is authorized in the capacity of a/an_____ who has restricted access to the company data
Ans - Data Entry operator
76. ______ is where the data backup files for multiple companies are stored.
Ans - Source
77. While restoring files, choose _____ to restore data, and choose_____ to save backup files.
Ans - Destination, source
78. The ____ balance for the previous financial year becomes the ____ balance for the current financial year.
Ans - Closing, opening
79. The _____ option allows you to export the reports or data from Tally.
Ans - Export
80. You need to import vouchers from one company to another for which of these reasons?
Ans - All of the above
81. ____is commonly used to transfer different types of data or files.
Ans - FTP
82. The SQL query language in Tally.ERP 9 is used to _____ information.
Ans - Retrieve
83. Which of these file formats is/are available in Tally for exporting the list of ledgers?
Ans - All of the above
84. The first two digits of GSTIN represent the ____ code
Ans - State
85. The state and central tax is always ____ of the integrated tax.
Ans - One half
86. You can record a journal voucher to transfer the closing balance of ____ as the opening balance under GST.
Ans - All of the above
87. If you make a purchase of goods within the ___, then it is an intrastate inward supply of goods.
Ans - State
88. The shortcut key ____ is used to create a voucher ledger for purchase of goods.
Ans - F9
89. The highest level at which the tax rate can be defined is the _____ level.
Ans - Company
90. Which shortcut key is used to change the range of pages to be printed?
Ans - Ctrl+ G
91. Under which group is the ledger for IGST created?
Ans - Duties & Taxes
92. If the supplier purchases goods or services from another state then this purchase will attract IGST.
Ans - True
93. You need to use the _____ format to upload different GST reports on the GST portal.
Ans - JSON
94. The term 'intrastate outward services' refers to _______.
Ans - Sales within the same state
95. To make a payment entry, you should select Accounting Vouchers and press the ____key from the keyboard.
Ans - F5
96. In the GSTR-2 report, the exempted tax amount can be seen under _____.
Ans - Exempted/tax amount
97. If you purchased 100 LED lights from an unregistered dealer, you do not need to enter the GST number while recording this transaction.
Ans - True
98. In case of taxable exports, which of these taxes is applicable?
Ans - IGST
99. In GST, all imports and unregistered supplies are earmarked as reverse charge mechanism.
Ans - True
100. If you set Exempted as the Taxability option, Tally takes the default tax percentage as ______.
Ans - False
101. In economics, the term SEZ stands for ______.
Ans - Special Economic Zone
102. If you received an advance amount of Rs. 10,000 then you should make this entry as a/an ____ receipt.
Ans - Advance
103. In Tally, to enable payroll for a company, which keyboard shortcut is used?
Ans - F11
104. For recording the attendance and production details, you need ______.
Ans - Payroll Masters
105. The option ‘Maintain more than one payroll or cost category?’ can be seen on which screen?
Ans - Accounting Features
106. An employee group can be deleted by pressing which of these key(s)?
Ans - Alt+D
107. You can enter detailed information about all your employees through the Multiple Employee Creation screen.
Ans - False
108. Payroll Units can be either Simple or Compound.
Ans - True
109. Tally relies on which basic unit to compute employee payment?
Ans - Attendance/Production Type
110. The salary components constituting an employee’s pay structure are called ______.
Ans - Pay Heads
111. ______ are used to define a Pay Structure of an Employee or an Employee Group.
Ans - Salary Details
112. There are _____ types of Payroll Vouchers in Tally.
Ans - 3
113. The keyboard shortcut for opening an Attendance voucher is ______.
Ans - Ctrl+F5
114. Tax Deducted at Source (TDS) is an indirect tax collected at the prescribed rate from the income source.
Ans - True
115. _______ is one of the modes for collecting the income tax at the source.
Ans - TDS
116. To create the TDS Nature of Payment, you need to go to Gateway of Tally > Accounts Info. > Statutory Info. > TDS Nature of Paymts > Create.
Ans - True
117. In Tally, you can book expenses by recording the ____ voucher.
Ans - Journal
118. As per the Income Tax Act, every corporate and government entity is liable for ______ of TDS.
Ans - Deduction
119. The keyboard shortcut Ctrl+F12 helps you to perform which action?
Ans - View the balance sheet
120. A ______ is a financial statement which shows the financial position of a firm.
Ans - Balance Sheet
121. Which of these is neither a register nor a ledger type recognized by Tally?
Ans - Contra Entry
122. If you need to pay money on a bill, the bill becomes ______.
Ans - Bills Payable
123. If you set Exempted as the Taxability option, Tally takes the default tax percentage as
Ans - ___0___.
124. On enabling this option ,you will be able to create & alt scenario
Ans – use reversing journal & optional vouchers.
125. The pre -defined cash ledger comes under the _____ group.
Ans – cash in hand.
126. Manufacturing journal voucher is created under ________.
And – Stock Journal .
127. which of these are non- accounting voucher?
Ans – revering journal voucher & memo voucher.
128. ideally, the ______ voucher should be used ,when the company buy goods.
Ans – purchase
129. In manufacturing company you can consider different items as part of the same batch if these items have the same ____________ date.
Ans – Manufacturing.
130. A ____________ is the record of an authenticated document for different materials taken out from the stock for different purpose.
Ans – Batch.
131. While taking backup ,_________ is the location where the data backup files for multiple companies are stored.
Ans – Destination .
132. The Component of a structured salary are created under .
Ans – pay heads
133. The keyboard shorts Alt + F12 helps you to perform which action on P&L account ?
Ans – Set range of info.
134. Using the key combation Alt + T will allow you to enter the subtitle of the balance sheet report ?
Ans – True
135. Which of these vouchers list all transaction made on a particular day ?
Ans- Day book.
136. To separately record interstate and intrastate purchase ledgers, there is no need to create a Separate interetate purchase taxable ledger.
Ans- False
137. To go to Accounting features, you need to use which function key?
Ans- F11 - > F1
138. Press_________ short cut key to see predefined vouchers from the " list of Accounts " screen.
Ans - CTL + V
139. Which shortcut key is used to configure a stock item from Stick Item creation.
Ans - F12
140. On enabling this option, you will be able to create and alter scenarios.
Ans - Use Reversing Journals & Optional Vouchers
0 Comments