Maharashtra Board Class 12 Commerce BK Chapter 10 Computer in Accounting Solutions

Class 12 Commerce BK Chapter 10 Exercise Solutions

1. Objective questions:

A. Select the most appropriate alternatives from those given below and rewrite the statements.

Question 1. The primary document for recording all financial transactions in Tally is the

(a) Journal
(b) Trial sheet
(c) Voucher
(d) File
Answer: (c) Voucher
In simple words: The voucher is the foundational record in Tally where all financial transactions are first entered.

🎯 Exam Tip: Understanding the basic documents used in Tally is crucial for practical accounting applications and carries significant weight in objective questions.

Question 2. __________ displays the balance day-wise for a selected voucher type.

(a) Record book
(b) Ledger book
(c) Journal book
(d) Daybook
Answer: (d) Daybook
In simple words: The Daybook in Tally provides a chronological, day-by-day record of all transactions for a specific voucher type, showing their balances.

🎯 Exam Tip: Familiarize yourself with the different accounting books and their functions in Tally, especially the Daybook's role in daily transaction tracking.

Question 3. Fixed Deposit A/c comes under __________ group.

(a) Investments
(b) Current liability
(c) Bank A/c
(d) Current asset
Answer: (a) Investments
In simple words: A Fixed Deposit Account is categorized under 'Investments' because it represents funds placed for a specific period to earn returns, rather than for day-to-day operations.

🎯 Exam Tip: Correct grouping of accounts is fundamental in Tally for accurate financial reporting. Remember that fixed deposits are long-term commitments, hence classified as investments.

B. Give the word term or phrase which can substitute each of the following statements:

Question 1. The details of Bills receivable are maintained in this record.

Answer: Sundry Debtors
In simple words: Bills receivable details are managed under Sundry Debtors, as these represent amounts owed to the business by customers for goods or services.

🎯 Exam Tip: Know the specific accounting terms and their applications, especially how different types of receivables are managed within the system.

Question 2. Tally software is classified into this category.

Answer: Mercantile
In simple words: Tally software falls under the mercantile category as it is designed for commercial accounting and business transactions.

🎯 Exam Tip: Understanding the broad classification of accounting software helps in grasping its intended use and features. Mercantile indicates its commercial application.

Question 3. The short key is used to save or accept the information.

Answer: Ctrl + A
In simple words: Ctrl + A is a universal shortcut in many applications, including Tally, to quickly save or accept changes on the current screen.

🎯 Exam Tip: Memorizing Tally shortcuts like Ctrl + A can significantly increase efficiency during exams and practical work. Practice these regularly.

Question 4. It is a damaged software, cracked, nearly fully functional.

Answer: Pirated Software
In simple words: Pirated software is an unauthorized copy of software that has been illegally distributed, often cracked to bypass licensing restrictions.

🎯 Exam Tip: Be aware of ethical software usage and the implications of using pirated versions, which often lack full functionality, support, and security. This is an important conceptual question.

Question 5. The process by which all the calculations are automatically done by the accounting software.

Answer: Automation
In simple words: Automation refers to the process where accounting software performs calculations and tasks automatically, reducing manual effort and errors.

🎯 Exam Tip: Automation is a key benefit of computerized accounting. Highlight its advantages in terms of speed, accuracy, and efficiency when explaining its role.

C. State whether the following statements are true or false with reason:

Question 1. Alt + D is the short key for delete voucher entries.

Answer: This statement is True.
To delete voucher entries, people use the Alt + D key.
In simple words: The shortcut Alt + D is indeed used in Tally to delete voucher entries from the system.

🎯 Exam Tip: Practical Tally shortcuts are often tested. Knowing key combinations for common operations like deletion is essential.

Question 2. In Tally, the F6 Function key is for the payment vouchers.

Answer: This statement is False.
In Tally, the F6 Function key is useful for receipt vouchers.
In simple words: The F6 key in Tally is specifically designated for recording 'Receipt Vouchers', not payment vouchers.

🎯 Exam Tip: Distinguish between different function keys and their associated voucher types (e.g., F5 for payment, F6 for receipt) to avoid confusion in Tally operations.

Question 3. Legal software is fully functional software without any restriction.

Answer: This statement is True.
The base of the legal software is fully functional, safe, and legal, so one can use this kind of software without any hesitation and restriction.
In simple words: Legally obtained software provides all intended features and functionalities without limitations, ensuring safe and unhindered usage.

🎯 Exam Tip: Emphasize the advantages of legal software, focusing on full functionality, reliability, and security compared to unauthorized versions.

Question 4. Salary Account comes under Indirect expenses.

Answer: This statement is True.
When the expenses are made for the purchase of goods, and for the manufacturing process, they are known as a direct expense. Salary does not fall in that category and so it comes under the indirect expense category.
In simple words: Salary is considered an Indirect Expense because it is not directly linked to the production of goods or services, unlike direct expenses such as raw materials or factory wages.

🎯 Exam Tip: Clearly differentiate between direct and indirect expenses. Direct expenses are part of the cost of goods sold, while indirect expenses are operational overheads.

Question 5. Accounting software may not be customized to meet the special requirement of the user.

Answer: This statement is False.
Customized Accounting software is prepared to meet the special requirement of the user which is not readily available in the market.
In simple words: Accounting software can be highly customized to fit specific user needs, especially if standard software doesn't cover all business requirements.

🎯 Exam Tip: Highlight the flexibility and adaptability of modern accounting software, particularly the option for customization to address unique business processes.

D. Answer in One Sentences:

Question 1. What is CAS?

Answer: CAS means Computerized Accounting System which helps business firms to implement accounting processes and makes it user friendly with automation.
In simple words: CAS stands for Computerized Accounting System, which uses technology to automate and simplify accounting tasks for businesses.

🎯 Exam Tip: Define CAS clearly, focusing on its two main benefits: automating accounting processes and enhancing user-friendliness.

Question 2. Write the steps to create a ledger account in tally.

Answer: Steps to create a ledger account in the tally are as follows:
• From Gateway of Tally Screen, click on accounts info.
• Path gateway to Tally – Accounts Info – Ledgers – Single ledger – Choses create.
In simple words: To create a ledger in Tally, navigate from the Gateway of Tally to Accounts Info, then Ledgers, select Single Ledger, and choose 'Create'.

🎯 Exam Tip: Provide the exact navigation path in Tally for creating ledgers as these procedural steps are commonly assessed.

Question 3. How to view reports in Tally?

Answer: For viewing accounting reports in accounting software to click on the report option and select the Display option.
In simple words: To view reports in Tally, you click on the 'Reports' option and then select 'Display' to access various accounting reports.

🎯 Exam Tip: Remember the two key steps for viewing reports: selecting the 'Reports' option and then the 'Display' option in Tally.

Question 4. State the various types of vouchers.

Answer: Following are the various voucher types:
1. F4 Contra voucher - For cash deposited in the bank and cash withdrawn from the bank, Transfer from one cash A/c to another Cash A/c and Bank to Bank transfer.
2. F5 Payment voucher - For all types of payments are recorded through this voucher type (Cash and Bank) Cash or Bank.
3. F6 Receipt voucher - For Cash and Bank receipts
4. F7 Journal voucher - For non-cash transactions
5. F8 Sales voucher - For cash as well as credit sales
6. F9 Purchase voucher - For cash as well as a credit purchase
In simple words: Tally uses various voucher types like Contra (F4), Payment (F5), Receipt (F6), Journal (F7), Sales (F8), and Purchase (F9) to record different kinds of financial transactions.

🎯 Exam Tip: Learn each voucher type along with its corresponding function key and the specific transactions it handles for comprehensive understanding.

Question 5. Write the steps to create a company.

Answer: Following are the steps to create a company:
1. After entering into Accounting software Tally, double click on the option, create a company, under company information. Then follow the navigation path.
Gateway of Tally > Company Info > Create Company
2. Fill in the detailed information in the company creation form, displayed on the screen - Company creation window.
In simple words: To create a company in Tally, go to Gateway of Tally, then Company Info, select Create Company, and fill in the required details in the Company Creation window.

🎯 Exam Tip: Mastering the step-by-step process of company creation in Tally is a fundamental skill for any user and a likely exam question.