Computerized Accounting in Tally MCQ Questions with Answers

Question. ETCS means
(a) Enable Tax Collected at Source
(b) Electronic Tax Collected at Source
(c) Electric Tax Collected at Source
(d) None of these

Answer : B

Question. The Profit & Loss statement can be displayed in ----------- ----- format(s).
(a) Horizontal
(b) Vertical
(c) A or B
(d) None of the above

Answer : C

Question. What is TAN?
(a) Tax Account Number
(b) Tax Assessment Number
(c) Tax Assignment Number
(d) None of these

Answer : B

Question. How can we see Vat Reports?
(a) Gateway of Tally > Display
(b) Gateway of Tally > Vat Reports
(c) Gateway of Tally > Display > Statutory Info
(d) Gateway of Tally > Display> Statutory Reports

Answer : D

Question. 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

Answer : C

Question. (a)............ serves the purpose of both journal and ledger accounts
(a) Journal proper
(b) Purchase day book
(c) Cash book
(d) Any of the above

Answer : C

Question. In tally you get currency symbol option from _______ menu
(a) Company creation
(b) Stock items units
(c) Regional setting
(d) None of the above

Answer : A

Question. Recording of actual stock as physically verified or counted is done through
(a) Journal
(b) Stock Journal
(c) Physical Stock
(d) Sales

Answer : C

Question. Find out which is not a Default Ledger in Tally
(a) Cash in Hand
(b) Capital Account
(c) Profit & Loss
(d) None of these

Answer : D

Question. Which of the following is used for voucher entry?
(a) Ledger Account
(b) Groups
(c) Sub-Groups
(d) Depends on number of companies

Answer : A

Question. Service Tax Report can be seen from
(a) Display > Day Book
(b) Display > Account Books
(c) Display > Statutory Masters
(d) Display > Statutory Reports

Answer : D

Question. What is the full form of TCS?
(a) Tax Collected by Staff
(b) Tax Consumption at Source
(c) Tax Collected at Source
(d) Tax Collected from Sales

Answer : C

Question. A ‘credit note’ is sent by------------- to ----------------
(a) Seller, buyer
(b) Buyer, seller
(c) Customer, seller
(d) Creditor, seller

Answer : A

Question. Default ledger accounts in tally are ______
(a) Balance sheet & profit & loss profit & loss and trial balance
(b) Profit & loss and trial balance
(c) Cash and profit & loss
(d) Cash and bank

Answer : C

Question. Which of the following file is usually used as a master file?
(a) Inventory subsidiary
(b) Cash disbursements.
(c) Cash receipts.
(d) Payroll transactions.

Answer : A

Question. 'Tally vault' is a _________________
(a) Security mechanism
(b) Ledger a/c
(c) Cost category
(d) None of the above

Answer : A

Question. In 1988 -------- product is renamed as Tally.
(a) Peutronics
(b) Calc
(c) Coral Softwares
(d) Vedika Softwares

Answer : A

Question. Which shortcut key(s) are used to display list of inventory reports within balance sheet?
(a) F8
(b) F9
(c) F10
(d) F11

Answer : B

Question. To create a sales voucher in tally, you have to press _______
(a) F5
(b) F7
(c) F8
(d) F9

Answer : C

Question. To get Payroll Reports choose
(a) Gateway of Tally > Display
(b) Gateway of Tally > Display > Statement of Accounts
(c) Gateway of Tally > Display > Statement of Payroll
(d) Gateway of Tally > Display > Payroll Reports

Answer : D

Question. For 'stock journal' entry we press ______________ in tally
(a) F7
(b) Alt + F7
(c) F10
(d) F11

Answer : B

Question. Payroll Auto fill is done through
(a) Ctrl + A
(b) Alt + A
(c) Ctrl + B
(d) Alt + B

Answer : B

Question. Which of the following can be budgeted in tally?
(a) Net Transactions
(b) Closing Balance
(c) Closing Balance
(d) A and B

Answer : D

Question. What is the predefined number of groups in tally?
(a) 16
(b) 28
(c) 128
(d) 228

Answer : B

Question. Which file in tally is used to record the import activity ?
(a) Tally.dat
(b) Tally.ini
(c) Tally.imp
(d) None of the above

Answer : B

Question. Which of the following user type can view audit list?
(a) Tally Vault
(b) Owner
(c) Data Entry
(d) Administrator

Answer : D

Question. To get Payroll Reports choose
(a) Gateway of Tally > Display
(b) Gateway of Tally > Display > Statement of Accounts
(c) Gateway of Tally > Display > Statement of Payroll
(d) Gateway of Tally > Display > Payroll Reports

Answer : D

Question. Transfer of materials from one godown to another godown, use
(a) Manufacturing Journal
(b) Stock Journal
(c) Purchase Journal
(d) Both A & B

Answer : B

Question. Which option lists inventory valuation method in tally?
(a) Stock report
(b) Stock journal
(c) Stock analysis
(d) Stock summary

Answer : D

Question. BOM represents
(a) Billing of Machines
(b) Bill of Materials
(c) Bill of Maintenance
(d) None of these

Answer : B

Question. The shortcut used for Sales Order is
(a) Alt+F4
(b) Alt+F5
(c) Alt+F7
(d) Alt+F8

Answer : B

Question. Default 'godown' name in tally is ____________
(a) Primary
(b) Main location
(c) A or b
(d) None of the above

Answer : B

Question. To change the date, shortcut used
(a) Alt+F2
(b) Alt+F3
(c) F2
(d) F1

Answer : C

Question. What is the advantage of a computer-based transaction processing system?
(a) Does not require as stringent a set of internal controls.
(b) Will produce a more accurate set of financial statements.
(c) Eliminates the need to reconcile control accounts and subsidiary ledgers.
(d) Will be more efficient at producing financial statements.

Answer : D

Question. Which of the following shows daily balance for a selected voucher type?
(a) Daybook
(b) Trial Balance
(c) Balance Sheet
(d) None of the above

Answer : A

Question. 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

Answer : D

Question. Which shortcut key(s) are used to enter a stock journal in tally?
(a) F7
(b) Control + F7
(c) Alt + F7
(d) Shift + F7

Answer : C

Question. Which of the following can be budgeted in tally?
(a) Net Transactions
(b) Closing Balance
(c) Closing Balance
(d) A and B

Answer : D

Question. How many types of users are present in tally?
(a) 1
(b) 2
(c) 3
(d) 4

Answer : C

Question. ‘Inventory books’ is used to view
(a) Stock Items
(b) Group Summary
(c) Both A and B above
(d) None of these

Answer : C

Question. 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 the above

Answer : C

Question. Trial balance is prepared on............ basis
(a) Monthly
(b) Annually
(c) Half yearly
(d) Any of the above.

Answer : D

Question. ------------------ gives the balance for each day for the voucher type has been selecte(d)
(a) Trial Balance
(b) Daybook
(c) Balance Sheet
(d) None of the above

Answer : B

Question. The rate of trade discount varies with the ----------- purchased
(a) Total asset
(b) Current asset
(c) Quantity
(d) None of these

Answer : C

Question. How to activate the tally audit feature in a company?
(a) Press F11 key
(b) During the creation of a company
(c) In -comp info -> security control-option
(d) Press F12 key

Answer : B

Question. 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

Answer : D

Question. A ‘Debit note’ is a statement sent to the ------------- by the ----------------
(a) Seller, buyer
(b) Buyer, seller
(c) Customer, seller
(d) Creditor, seller

Answer : A

Question. "Alias" represents
(a) Short name
(b) Nick name
(c) Code name
(d) All of these

Answer : D

Question. Budget represents ……………………
(a) Estimation
(b) Forecasting
(c) Assumption
(d) All of these

Answer : D

Question. .......... version of tally was introduced in 2005 to incorporate Indian VAT.
(a) 7.2
(b) 5.2
(c) 8.1
(d) 9.1

Answer : A

Question. Which of the following is the predefined stock category in tally?
(a) Primary
(b) Symbol
(c) Stock
(d) Main location

Answer : A

Question. ............... is Tally’s first multi-lingual version.
(a) 7.2
(b) 5.2
(c) 8.1
(d) 9.1

Answer : C