Tally

1. Employee salary details are shown in

A) Attendance sheet

B) Gratuity papers

C) Exact reports

D) Pay roll

2. Salary comes under                      Head

A) Direct expense

B) current liability

C) Indirect expense

D) Current asset

3. Vouchers can be displayed in

A) Accounts info

B) Day book

C) inventory info

D) Ledger

4. Professionals usually maintain accounts as

A) Accounts with inventory

B) accounts only

C) Normal accounting

D) payroll accounting

5. A company can be deleted only in

A) Display

B) alter

C) delete

D) Create

6. Company features in tally includes

A) Accounting features

B) Inventory features

C) Statutory features

D) all of the above

7. Integrated accounts with inventory is available in

A) F12 configuration

B) f11 features

C) inventory info

D) accounts info

8. Collection of ledgers of same nature is called

A) Vouchers

B) asset

C) Group

D) None of these

9. The options ? use common narration? and ? narration each entry? appear

A) Account creation screen

B) Voucher entry screen

C) F11 accounting features

D) Voucher type creation screen

10. Predefined groups are also called as

A) Main group

B) Primary group

C) Statutory group

D) Parent group

11. Which of the following is not a disadvantage of introducing computerized accounting system

A) Possible demotivation through reundance

B) High expenditure on set up

C) Saving made on labour cost

D) Required staff training

12. Transfer from main cash to petty cash you require to pass                      

A) Voucher

B) Payment

C) Contra

D) Receipt 

13. 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

14. Patent account falls under

A) Investments

B) Liabilities

C) Current assets

D) None of these

15. Drawings account is to be created by linking with

A) Capital

B) Current asset

C) Current liability

D) Drawings

16. Transactions are firstly entered in:

A) Journal

B) Ledger

C) Trial balance

D) None of these

17.  A trial balance is prepared

A) To prepare p &l a/c

B) To test the arithmetical accuracy

C) For making adjustments

D) To balance the a/c

18. Capital is treated as liability because of

A) Dual aspect concept

B) Money measurement concept

C) Matching concept

D) Entity concept

19.               are the liabilities which are payable after a long period

A) Fixed liabilities

B) Miscellaneous expenditure

C) Current liabilities

D) Contingent liabilities

20.               is an example for long term liabilities

A) Creditors

B) Debentures

C) Overdraft

D) Bills payable

21.                 is the collection of all accounts

A) Journal

B) Voucher

C) Invoices

D) Ledger

22.                 is the book of original entry

A) Journal

B) Voucher

C) Invoices

D) Ledger

23. The process of ascertaining the balance of a particular account on a given date is

A) Posting

B) Journalizing

C) Balancing

D) Accounting

24.                 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

25.             is an example for tangible assets

A) Furniture

B) Debtors

C) Patent

D) Discount on issue of shares and debentures

26. Which account is the odd one

A) Furniture

B) Land and buildings

C) Stock of raw materials

D) Plant and machinery

27. Which of the following is the example of external users of accounting information

A) Government

B) Owners

C) Management

D) Employee 

28.  A              is sent to a customer when he returns the goods

A) Debit note

B) Credit note

C) Proforma invoice

D) Bill

29.  A              is sent to the seller when he is taken back the sold goods

A) Debit note

B) Credit note

C) Proforma invoice

D) Bill

30.  Which of the following is not a transaction

A) Goods are purchased on cash basis for rs 1000

B) Salaries paid for the month of may 2009

C) Land is purchased for rs 10 lakhs

D) An employee is dismissed from the job

31.              Bank account is                       

A) Personal account

B) Real account

C) Nominal account

D) Intangible real account

32. Income earned but not received is known as                       

A) Advance income

B) Proposed income

C) Earned income

D) Accrued income

33.             refers the amount invested by the owner into business

A) Loan

B) Advance

C) Capital

D) Prepaid expenses

34.                is the major source of revenue of any business

A) Investment

B) Advances

C) Loan

D) Sales

Answer : D

35. Assets acquired for long term use in the business are called                      

A) Fixed assets

B) Current assets

C) Fictitious assets

D) Liquid asset

36. A person who owes money to the business is a                             

A) Debtor

B) Creditor

C) Investor

D) Supplier

37. Accrued income comes under

A) Current liability

B) Capital

C) Current asset

D) Fixed asset

38. Taxes paid come under which group

A) Capital

B) Loans and liabilities

C) Direct expenses

D) Duties and taxes

39. Accounting principles are divided into two types. These are

A) Accounting concepts

B) Accounting conventions

C) Accounting standard

D) 1 and 3 both

40. The term current assets does not include                       

A) Debtors

B) B/r

C) Stock

D) Goodwill

41. There are                    predefined ledgers

A) One

B) Three

C) Two

D) Four

42. Closing stock come under                                  

A) Current asset

B) Fixed asset

C) Stock in hand

D) Direct income

43. E-mail can be used to

A) Send mail directly from tally screen

B) To send e-mail

C) Download information

D) Access help

44. In tally screen right extreme displays                                 

A) Selected companies

B) Current date

C) Gate way of tally

D) Button bar

45. Capital of the company is included under

A) Capital account

B) Fixed liabilities

C) Loans and advances

D) Current liabilities

46. Carriage inwards can be included in

A) Direct expenses

B) Indirect expenses

C) Current liability

D) Misc Expenses

47. The branch of accounting which analyses and interprets the overall data is                         

A) Financial accounting

B) Cost accounting

C) Management accounting

D) None of these

 

48. To activate cost centre and cost category feature we have to select

A) Configuration

B) F 11 features

C) Group creation

D) Voucher creation

49. 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

50. Credit note is used for entering

A) Purchases

B) Sales

C) Purchase return

D) Sales return