401s

Sr. No.
1
2
3
4
5
6
7

16

Question
There are
methods of entry system in accountancy.
In Tally there are
types of Groups.
There are
rules of accounts.
Configuration menu displays
options.
Ratio Analysis show
Principal Ratios.
What is maximum Limit of VAT TIN Number
.
is max. Limit of VAT TIN Number.
In Vat System, Exempt Category; consist about
items primarily
comprising of Natural and Unprocessed product.
According to white paper there are
categories of goods
under VAT System.
Bombay sales tax born in year
.
In
Option we can maintain Financial Books of Accounts &
Inventory.
Insert a voucher in day book, special key combination is
.
Short cut key of creation of unit measure
.
For creating a duplicate voucher
key is used.
Choose e.g.. Of Liability
.
Discount normally allowed by creditor to debtor for getting immediate payment is
.

17
18

Contra voucher is related with

Right hand side of an account is

19
20
21
22

Trading account shows

.
Displays configuration screen.
Shortcut Key of Changing Period
Shortcut key of Reversing journals is

23

Trade Discount is allowed as deduction from

24

Reserves and surplus account is related to

25
26
27

is Reduction in the value of Assets due to its continuous use.

An account of Expenses or losses is called
A/c.
An Account of Income or Gain is called
.

28

[F8] key is used for

29

One of the pre- requisite of audit

.
Voucher is used for Recording Orders for supply of Goods or
Services.
is used for recording orders for supply of goods.
is an Indirect method of Collecting Income Tax.

8
9
10
11
12
13
14
15

30
31
32

.
.

.
.
.
group.

2
2
4
6
9
12
15

A
4
3
3
9
8
11
11

B
3
5
1
10
7
15
12

Answer
D
A
A
B
C
A
B
B

45

46

64

505
1955

550
1956

C
B

Accounts Only
Alt + C
Alt + M
Alt +D
Carriage

55
1959
Accounts with
Inventory
Alt+ I
Alt + C
Alt+2
Capital

Inventory Only
Alt +V
Alt + I
Alt+F2
Building

B
B
B
B
B

Cash Discount

Trade discount

Cr sales
Debit
Direct Exp. &
Income
F1
F3
F7

Cash Sales
Credit
Indirect Exp. &
Income
F12
Alt + F2
F10

Invoice Price
Loan account
group

Market Price
Capital Account
Group

Sales Discount
Bank or Cash
Transactions
None
Assets &
Liabilities
F11
F4
F12
Whichever Is
Less

Loss
Nominal A/c
Nominal A/c
Payments
voucher

C
B
A
B
B
B
A

Current Asset

Depreciation
Personal A/c
Personal A/c

Appreciation
Real A/c
Real A/c

B
A
A

Sales Order

Profit & Loss a/c

Sales voucher
Bank
Reconciliation

Balance Sheet

Sales
Sales
TDS

Payment
Sales order
House Tax

Sales Order
Purchase Order
Sales Tax

C
B
A

Sr. No.
Question
33
is recorded in Books of Accounts.
34
From Trial Balance
can be prepared.
35
Final A/c shows result of
.
36
is the shortcut key for creating Cost Centres.
37

39
40
41
42
43
44

Memorandum voucher is also known as

voucher.
Book-Keeping is an
of systematically recording all Business
dealings.
Book-Keeping is an
of systematically recording all BusineXss
dealings.
Statistics option comes under
.
Exception Reports comes under
Menu.
menu having Final Result option.
Shortcut key for creation of Multiple Stock Group is
.
Alteration of Individual Ledger is
.

45
46
47
48
49

Purchase Register record

is the shortcut
is the shortcut
is the shortcut
is the shortcut

38

.
key for alteration of company data.
key for Duplicate a Voucher.
key to Add a Voucher
key to view the Tally Web Browser.

A
Trade Discount
Vouchers
12 Months
AAC

C
Cash Discount
Balance Sheet
8 Months
ADC

Accounting

B
Invoice Price
Final Accounts
4 Months
ACC
Non
Accounting

Answer
D
C
C
A
B

Suspense

Accounts

Art & Science

Records

Accounts
Accounts book
Accounts Info
Accounts Info
AGR
ALA
All Credit
Purchases
Alt + c
Alt+3
Alt+A
Alt+B

Art & Science

Statistics books
Display
Display
IGR
AIL
All Cash
Purchases
Alt+F2
Alt+2
Alt+V
Alt+W

Records
Inventory Books
Budget
Export
IGS
AIA

B
B
B
B
A
A

All Purchase
Alt+F3
Alt+D
Alt+C
Alt+U

A
C
B
A
B

50

is the shortcut key to check the Company Statutory details.

Alt+B

Ctrl+Alt+B

Ctr+B

51
52

is the shortcut key to create a Master at a voucher screen.

is the shortcut key to delete a voucher.

Alt+C
Alt+D

Alt+D
Alt+E

Alt+M
Alt+I

A
A

53

is the shortcut key to view detailed report.

Alt+F1

Ctrl+F1

Ctrl+R

54

is the shortcut key to select the Physical Stock Voucher.

Alt+F10

Alt+P

Alt+V

Alt+F12
Alt+F4

Ctrl+F12
Alt+F5

Ctrl+F
F9

A
A

Alt+F6
Alt+F8
Alt+F8
Alt+F9

Ctrl+O
Alt+F5
Ctrl+F8
Alt+F10

Alt+F7
F8
Alt+F9
Alt+F9

A
B
A
C

is the shortcut key to select the Language Configuration.

is the shortcut key to select the Keyboard Configuration.

Alt+I
Alt+L
Alt+L

Alt+X
Alt+K
Alt+L

Alt+E
Alt+A
Alt+K

C
A
C

64

is the shortcut key to select language for Tally Interface.

Alt+L

Alt+I

Alt+T

65
66

is the shortcut key to Email the report.

is the shortcut key to print the report.

Alt+M
Alt+R

Alt+E
Alt+S

Alt+R
Alt+P

A
C

67

is the shortcut key to remove a line in a report.

Alt+S

Alt+R

Alt+V

55
56

monetary
value.

57
58
59
60
61
62
63

is the shortcut key to filter the information based on

is the shortcut key to select the Purchase Order Voucher.
is the shortcut key to select the Rejection Out Voucher.
is the shortcut key to select the Sales Order Voucher.
is the shortcut key to select the Delivery Note Voucher.
is the shortcut key to select the Receipt Note Voucher.
is the shortcut key to export the report in ASCII, HTML or
XML format.

Sr. No.

Question

Answer
D

is the shortcut key to bring back a line you removed using

68

Alt+S

Alt+V

69

is the shortcut key to create/shut/alter a Company.

Alt+S

Alt+F3

Alt+A

70

is the shortcut key to view the report in automatic columns.

is the shortcut key to retrieve the last line which is deleted

Alt+U

Alt+N

Alt+C

Alt+V

Alt+U

Alt+V

Alt+V
Alt+W

Alt+W
Alt+O

Alt+U
Alt+U

A
B

Alt+Y
Alt+Y

Alt+X
Alt+X

Alt+Ctrl+Y
Alt+Ctrl+Y

B
A

Bad Debts

Discount

Drawings

Balance Sheet
Balance Sheet

Profit &Loss a/c

Voucher

Trial Balance
Trading A/c

A
B

Balance Sheet
Bank
Bank A/c
Bank A/c
Bank A/c
Bank Account

Profit &Loss a/c

Cash
Bank OD A/c
Bank OD A/c
Cash-in-hand
Bank OCC

Trial Balance
Purchase
Bank OCC A/c
Bank OCC A/c
Bank OCC A/c
Current Assets

A
C
A
B
B
A

Bill
Bombay sales
tax
Book Stall

Challan
Bombay service
tax
Society

Voucher
Bombay Survey
Tax
Clubs

Capital
Capital
Capital

Loan
Indirect
Expenses

Investment
Revenue
Investment

C
A
A

Capital A/c
Cash
Cash

Drawings A/c
Sundry Debtors
Debit

A
A
B

Cash A/c

Profit & Loss A/c

Loans (Liability)
Goodwill
Credit
Both Cash &
Profit/Loss A/c

Cash assets
Cash Book

Current Liabilities Fixed Assets

Journal
Trial Balance

71

Alt+R.

using Alt+R.
is the shortcut key to bring back Stock Journal Screen from

72
73

Invoice Screen.

74
75

Vouchers.

76
77
78
79
80
81
82
83
84

is the shortcut key to upload the report at your website.

is the shortcut key to cancel a voucher in Day Book/List of
is the shortcut key to register Tally.
Amount withdrawn by Proprietor from the Business for Personal purpose in Cash is
called
.
Statement showing standing Financial Position of the Business is
are used for recording day-to-day transactions.
Statement showing standing Financial Position of the Business is
In Purchase voucher, always
A/c has debit balance.
is the Under Group of "SBI Bank".
is the Under Group of "Bank Overdraft".
is the Under Group of "Cash A/c".
Co-operative Bank comes in
group.

85

is a document that contains details of a financial transaction.

86
87

BST stands for

88
89
90

is an amount invested by Businessman outside his business.

Expenditure are Non-recurring in nature.
Owner account is under
account group.
is the Under Group of "Capital invested by Businessman in the
Business".
is the example of Liquid Assets.
In receipt voucher, cash A/c has
type of balance.

91
92
93
94
95
96

.
is the Odd from following.

A/c is automatically created at the time of creation company.

Sundry creditors comes under group of
.
ledger is a summary of all cash transactions.

A
A

C
B
A

Sr. No.

Question

97

Discount does not appear in Books of Accounts.

.

Cash Discount
Central Service
Tax

98

CST stands for

99

Cash Book & Pass Book.

Cheque Book

In case of creating new ledger accounts under stock-in-hand,

stock balance is written.

Closing

shows the causes of Disagreement between the Balances of

100

B
Cash or Trade
Discount
Central Sales
Tax
Bank
Reconciliation
Statement

Answer
D

Trade Discount
Center Service
Tax

Cash Book
Difference
Between
Opening &
Closing

Trust

Company

102
103
104
105
106

is the example of Non-Trading Business.

When we are depositing the money in bank, the entry should be done in
voucher.
In
type of voucher, only bank & cash A/c are used.
is Non-trading Business from following.
is the voucher type from the following used in Tally.
In Receipt Voucher Cash A/c always comes under
.

Opening
Departmental
Store

Contra
Contra
Co-operative
Cost
Credit

Payment
Payment
Society
Credit
Debited

Receipt
Receipt
Ware House
Contra
Not shown

A
A
A
C
B

107
108

Sales Register is used for recording

Sales Register is used for recording

Credit Sales
Credit Sales

Debit Note
Debit Notes

Cash Purchases
Cash Purchase

A
A

109

Contra Voucher is related to

.
Personal Account means, the person who receives benefits from business is to be
.
Personal Account means, the person who receives benefits from business is to be
.
is the shortcut key for opening calculator.
is the shortcut key to alter a master while making an entry or
viewing a report.
is the shortcut key for Advanced Config.
is the shortcut key to import statutory masters.
is the shortcut key to rewrite data for a company.
is the shortcut key to select the Budget.
is the shortcut key to select the Cost Centre.
is the shortcut key to mark a Voucher as Optional.
is the shortcut key to accept a Form.
is the shortcut key to abandon a form, wherever you use this
key combination, it quits that screen without making any changes to it.

Credit Sales

Cash Sales

Cash & Bank A/c

Credited

Debited

Not considered

Credited
Ctrl + M

Debited
Ctrl + N

Not considered
Ctrl + C

B
B

Ctrl+A
Ctrl+Alt+F12
Ctrl+Alt+I
Ctrl+Alt+R
Ctrl+R
Ctrl+C
Ctrl+D
Ctrl+F

Ctrl+Enter
Alt+F12
Alt+I
Ctrl+R
Ctrl+U
Ctrl+E
Alt+L
Ctrl+A

Enter
F12
Ctrl+I
Ctrl+C
Alt+B
Ctrl+G
Ctrl+L
Alt+A

B
A
A
A
A
A
C
B

Ctrl+F

Ctrl+Q

Ctrl+W

Ctrl+F1
Ctrl+F10
Ctrl+F8

Ctrl+Alt+F12
F12
F9

Alt+F12
F11
F10

A
A
A

101

110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

of Goods.
of Goods.

is the shortcut key to select payroll vouchers for alteration.

is the shortcut key for Memorandum Voucher.
is the shortcut key for Credit Note Voucher.

Sr. No.
125
126

Question
is the shortcut key to select the Group.
is the shortcut key to select the Ledger.

127

is the shortcut key to select the Godowns.

128
129

is the shortcut key to explode a line into its details.

is the shortcut key to select the Currencies.
is the shortcut key to repeat narration in the same voucher

Answer
D
A
A

Ctrl+G
Ctrl+L

Ctrl+R
Ctrl+D

Ctrl+P
Alt+L

Ctrl+O

Ctrl+G

Alt+O

Ctrl+PgDn
Ctrl+R

Enter
Ctrl+E

Shift+Enter
Alt+R

C
B

Ctrl+R
Ctrl+S
Ctrl+T

Alt+R
Alt+S
Ctrl+I

Alt+Ctrl+R
Ctrl+M
Alt+I

A
A
B

130
131
132

type.

133
134
135

Ctrl+T
Ctrl+V
Ctrl+V

Ctrl+I
Ctrl+U
Ctrl+U

Ctrl+V
Ctrl+S
Ctrl+T

C
B
A

Current asset

Fixed asset

Liquid Asset

Current Assets

Fixed Assets

Current Liabilities

Current Assets
Current Assets

Fixed Assets
Fixed Assets

Current Liabilities
Stock

C
A

140

is the shortcut key to toggle between Invoice and Voucher.

is the shortcut key to select theUnits.
is the shortcut key to select the Voucher Types.
The asset, which is converted in to cash immediately are called
.
Sundry Debtors are shown in Balance Sheet in
under group
heading.
Sundry Creditors are shown in Balance Sheet in
under group
heading.
Closing Stock in shown under
heading in Balance Sheet.
is the Under Group of "Tempo A/c" which is purchased for
delivery of goods.

Current Assets

Fixed Assets

Capital A/c

141
142
143
144

is the Under Group of "Shares purchase of Bajaj Allianz Co. ".

Right hand side of an account is
.
In Payment Voucher Cash A/c is always
.
Cash Book always shows a
.

Current Liability
Debit
Debit
Debit Balance

Capital A/c
Credit
Credited
Credit Balance

Investment
None
Not shown
None of above

C
B
B
A

145

If the Credit Side of Trial Balance is less, then Suspense A/C is

If Both the sides of a Trial Balance do not match then a
account may be opened.
A person who owes money to the business is called a
.
Drawings are
Capital A/c in Balance Sheet.
Shortcut key for Physical Stock Register Menu is
.
Expenses are related to core of business.
is the Under Group of "Bad Debts ir-recovered from Sundry
Debtors".

Debited

Credited

Write Off

Debtor
Debtor
Deducted from
DIP
Direct

Suspense A/c
Owner
Multiplied by
DIS
Both

C
A
A
A
A

Direct Expenses

Creditor
Creditor
Added to
DPSR
Indirect
Indirect
Expenses

Indirect Income
Indirect
Expenses
Indirect
Expenses

B
C

Liability & Assets

136
137
138
139

146
147
148
149
150
151

is the shortcut key to alter Stock Item master.

is the shortcut key to select the Stock Items.

152

is the Under Group of "Repair Charges Paid".

Direct Expenses

Indirect Income

153

is the Under Group of "Travelling Charges paid".

Direct Expenses

Indirect Income
Indirect
Expenses &
Income

154

Trading Account shows

Direct Expenses
& Income

Sr. No.

Question

155

is the Under Group of " Paid".

Direct Income

156

is the Under Group of "Salaries paid to Office Staff".

157
158
159

Answer

Indirect Income

Direct Income

Direct Expenses
Indirect
Expenses

Indirect Income

is the Under Group of "Wages paid to Factory workers".

Direct Income

Direct Expenses

Indirect Income

is the Under Group of "Carriage Inward".

is the Under Group of "Donation for Education of Poor

Direct Income

Indirect Income

Direct Income

Indirect Income

Direct Expenses
Indirect
Expenses
Indirect
Expenses
Indirect Income

Direct Expenses

Direct Expenses

Childrens"

160

is the Under Group of "Fire Insurance A/c.

Direct Income

161

is the Under Group of Accounting Charges A/c".

Direct Income

162

is the Under Group of "Printing Charges paid".

Direct Income

163

is the Under Group of "Legal Charges paid".

Direct Income

Indirect Income
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses

Display

Accounts book

Optional Reports

Drawings
Drawings

Capital
Bad Debts

C
B

Indirect
Expenses

Duties and Taxes

Employee

Indirect
Expenses
Capital A/c
Loans and
advance
Employer

Bad Debts
Debtor
Loans &
Advances
(Assets)
Loans &
Advances
(Assets)
Drawings A/c
Bank O. D.
account
Seller

Enter

Esc

Alt+P

Expenses

Revenue

Capital

Expenses
Expenses
F1
F1
F1
F10

Revenue
Asset
Alt+F1
S
F2
F11

Capital
Expenditure
F3
Ctrl+O
F3
Ctr+F9

C
B
A
A
A
C

164

Inventory book option comes under

165
166

Amount which is Irrecoverable from Debtors is known as

Amount which is Irrecoverable from Debtors is called

.
.
.

167

is the Under Group of "Vat Tax ".

Duties & Taxes

168
169

is the Under Group of "Prepaid Rent A/c ".

is the Under Group of "Sales Tax A/c".

Duties & Taxes

Duties & Taxes

170
171

The primary group Loans contains

subgroups.
Fringe Benefit Tax is to be levied on
.
is the shortcut key to get a report with further details of an item
in a report.
Contribution made by Owner of Business into the Business is termed as
.
Contribution made by Owner of Business into the Business is termed as
.
Stock of stationery is
.
Shortcut key for selecting company is
.
Key is used for selecting company.
is the shortcut key to shut selected company.
is the shortcut key for Debit Note Voucher.

172
173
174
175
176
177
178
179

C
A
C
B

Sr. No.
180
181
182
183
184
185
186
187
188

Question
is the shortcut key for Reversing Journal.
is the shortcut key to select the Configure Screen.
Which of the following is not a Valid Type of Voucher Entry Function Key
?
Shortcut Key of Receipt Voucher is
.
of the following is not a valid type of Voucher Entry function
key.
Ledger contain
.
can be converted into cash immediately.
Vat Tax charged only in our
.
can be converted into cash immediately.

Answer
A
A

F10
F12

Ctr+F10
F11

F11
F10

F3
F5

F2
F6

F4
F8

C
B

F5
Files
Fixed Assets
Fixed Assets
Fixed Assets

F4
Reports
Liquid Assets
Stock Items
Liquid Assets

F3
Groups
Current Assets
Expenses
Current Assets

C
C
B
B
B

Current Liability

Current Liability

B
B
A
A

189

is the Under Group of "Building which is Purchased on Credit.

Fixed Assets

190

is the Under Group of "Bonus given to Office Workers".

Fixed Assets

191

is the Under Group of "Renovation Charges of Showroom A/c".

Fixed Assets

Current Assets
Indirect
Expenses
Indirect
Expenses

Free Samples
Function Button

Low Budget Cost

Account Info

Direct Expenses
Cost to Cost
Price
Voucher Info

Gateway of Tally
General
Godowns

Display
Delete
Stock Item

Company Info
Alter
Balance Sheet

C
A
A

Income

Expenses

Direct Expenses

Indirect
Expenses

Direct Expenses Indirect Income

Indirect Income

Direct Expenses

Direct Income

Indirect Income

Direct Income

Direct Expenses

Direct Income

Direct Expenses

Direct Income

Direct Expenses

Direct Income

Direct Expenses

Direct Income

Direct Expenses

Direct Income

Direct Expenses

192
193

Zero Value entries are for

Opening screen of Tally shows

194
195
196

Back up and Restore Option available in

Company configuration menu having
The place where stock is kept is known as

197

Bad debts comes under

198

.
area.
.
option.
.
.

is the Under Group of "Carriage Outward".

199

is the Under Group of "Earthquake Relief Fund A/c".

200

is the Under Group of "Audit Fees paid to Auditor".

201

is the Under Group of "Petrol & Fuel A/c".

is the Under Group of "Advertisement charges for introduced

202

new product".
is the Under Group of "Interest paid to IDBI Bank for Loan

203

taken".

204

is the Under Group of "Registration Charges Paid.

205

is the Under Group of "Donation paid to Eye Camp".

206

is the Under Group of Diwali Treat given to staff A/c".

Indirect
Expenses
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses

Sr. No.
207

is the Under Group of "Free Home Delivery Charges A/c".

A
Indirect
Expenses

208

is the Under Group of "Appreciation charged on Building ".

Indirect Income

209

is the Under Group of "Depreciation charged on Machinery ".

Indirect Income

210

is the Under Group of "Dividend received on Investment ".

is the Under Group of "Discount Received on Purchase of

Indirect Income

Direct Income
Indirect
Expenses
Indirect
Expenses
Indirect
Expenses

Indirect Income

Loans (Liability)
Loans (Liability)
Indirect
Expenses

211

Question

Goods ".

212

is the Under Group of "Discount allowed on sale to customer ".

Indirect Income

213

is the Under Group of "Telephone Bill paid".

Indirect Income

214
215
216
217
218
219
220
221
222
223
224

is the Under Group of "Discount Received A/c".

In Vat System Exempt Category comprising of
Items.
Person whose assets are more than his liability is called
.
is the Under Group of "Commission paid to Broker for purchase
of Shares".
is the shortcut key of creation of Unit Measure.
is the primary Book of Account.
The entire ledger is summarized in the form of a
.
is any unit of an organization to which transaction can be
allocated.
are actual accounts heads to which a transaction is identified.
In
all debit and credit balances are matched.
Accounts of creditor mean
to the organization.

Indirect Income

Answer

Direct Expenses

Fixed Assets

Fixed Assets

Fixed Assets
Indirect
Expenses
Indirect
Expenses

Indirect Income

Direct Expenses

A
B
B
C
A
A
C

A
C

Industrial
Insolvent

Direct Income
Natural &
Unprocessed
Solvent

Investment
IUC
Journal
Journal

Indirect Income
ICU
Ledger
Final Accounts

Agricultural
Debtor
Indirect
Expenses
UIC
Trial Balance
Trial Balance

Ledger
Ledger
Ledger
Liability

Group
Entry
Balance Sheet
Assets

Cost Centre
Groups
Cash Book
Debit Balance

C
A
B
A

Loans & Advance

(Assets)

225

is the Under Group of "Loan taken from HDFC Bank ".

Loans (Liability)

Bank A/c

226

is the Under Group of "Advance Salary given to staff".

Loans (Liability)

Bank A/c

227

is the Under Group of "Outstanding Salary payable to staff ".

Loans (Liability)

Indirect Income

228

is the Under Group of "Rent Received".

Loans (Liability)

Indirect Income

229

is the Under Group of "Loan given to Mr. Suraj A/c".

Loans (Liability)

Current Assets

Loans &
Advance (Assets)
Indirect
Expenses
Indirect
Expenses
Loans &
Advances
(Assets)

C
A
B

Sr. No.

Question

230

is the Under Group of "Life Insurance A/c".

Loans (Liability)

Capital A/c

231

is the Under Group of "Advance Income Tax A/c".

is Reduction in the Value of Asset due to its continuous

Loans (Liability)

Capital A/c

C
Loans &
Advances
(Assets)
Loans &
Advances
(Assets)

Answer

232

use.

Loss

Depreciation

Appreciation

233
234
235
236

Introduced System of Double Entry System.

Choose e.g.. Of Current Asset
.
Central Excise is a tax on the act of
.
Debit Balance of Profit & Loss A/c represents
.
are Accounts of Assets & Properties that can be seen &
touched.
are Accounts of Assets & Properties that can be seen &
touched.
In double entry system every transaction has
effect.
The accounting cycle is normally for
year.
is paid on purchase.
The
is an arithmetical check of all transactions done as per
date.
accounts means the person receives the Benefits from the
Business.
accounts means the person receives the Benefits from the
Business.

Luca Pacioli
Machinery
Manufacture
Net Profit

R. N. Carter
Bills Receivable
Selling
Net Loss

Charles Babbage
Out standings
Purchasing
Gross Profit

A
B
A
B

Nominal

Real

Personal

Nominal
One effect
One Year
Output Tax

Real
Two effect
Two year
Input Tax

Personal
Three effect
Three year
Input Credit

B
B
A
B

P & L account

Trial Balance

Ledger

Personal

Real

Nominal

Personal

Real

Nominal

Account, which is not related to person, is called

account.
An Account of Expenses or Losses is called
A/c.
Key is used for editing in screen.
is the shortcut key to display previous voucher during voucher
entry alter.
is the shortcut key to display next voucher during voucher entry
alter.
Means excess of income over expenditure.

Personal
Personal A/c
Pg Up

Impersonal
Real A/c
Backspace

Both
Nominal A/c
Enter

B
C
B

PgUp

PgDn

Ctrl+D+P

PgUp
Profit

PgDn
Loss

Ctrl+D+P
Income

B
A

Balance Sheet

Balance Sheet

Profit & Loss A/c

Profit/Loss A/c

Trading A/c
Accounting
Voucher
Bank
Reconciliation
Trading

Journal
Balance Sheet

B
C

Purchase A/c

Sales A/c

Receipt Voucher

237
238
239
240
241
242
243
244
245
246
247
248
249
250
251

Shows Direct Expenses & Direct Income of the Business.

Profit & Loss A/c

252

is the statement showing Assets & Liabilities.

Profit & Loss A/c

253
254
255

is one of the Pre-Requisites of the Audit.

Suspense A/c is a
Item.
is the Under Group of "Purchase of goods on cash.

Sr. No.

Question
is the Under Group of "Air Conditioner" which is purchased on

256
257

cash.
Stock Items are purchased or sold on the basis of

258

Impersonal Accounts are classified into

Accounts.
are accounts of assets & properties that can be seen or touched,
purchase or sold.
Depreciation charged on Fixed Assets is recorded in
Voucher.
Personal a/c, Credited the
.
Revenue expenditure are
in nature.
is the example of Indirect Expenses.
Amount paid to the Workers or Laborers is
.
Voucher is used for Recording Orders for Supply of Goods or
Services

259
260
261
262
263
264
265
266
267
268

is the Under Group of "Sales of goods on cash.

Book-Keeping is

A
Purchase A/c
Quantity

Answer

Fixed Assets
Rate

C
A

Real & Personal

Sales A/c
Stock
Personal &
Nominal

Real & Nominal

Real A/c

Personal A/c

Nominal A/c

Receipt
Receiver
Recurring
Salaries
Salary

Payment
Giver
Non Recurring
Royalties
Wages

Journal
Taker
Capital
Octroi
Income

C
B
A
A
B

Sales

Payment

Sales A/c
Science
Shift+Enter

Purchase A/c
Art
Enter

Sales Order
Payment
Voucher
None Of Above
Ctrl+PgDn

A
C
A

Shut Cmp

F5

Alt+F1

Solvent

Creditor

Sundry Creditors

Godowns

270

is the shortcut key to collapse next level details.

To Shut Currently Opened Co. we have to press
on Control
Button Panel.
means a person who is in a position to pay his debts as they
become due.

271

Purchase Bill pending menu comes under

272

Kgs. & Dzs. are

.
Provision for Doubtful Debts is deducted from
in the Balance
Sheet.
is the Under Group of "Kids Collection" to whom we sale goods
on credit.

Stock Items

Insolvent
Statistics of
Inventory
Units of
Measurement

Sundry Creditors

Sundry Debtors

Current Assets

Sundry Creditors

Sundry Debtors

Sales A/c

Current Liabilities group includes

subgroups.
is the Under Group of "Party from whom we purchase goods on
credit "

Sundry Creditors

Sundry Debtors

Stock

Sundry Debtors

Purchase A/c

Sundry Creditors

is the Under Group of "Machinery which is sold on cash.

is the Under Group of "Dazzling Stars Ltd" from whom we
purchase goods on credit.
is an enhanced Security System, which allows for encryption of the
Company Data.
Quit Command closes
.
All Accounts must be classified under their appropriate
.

Sundry Debtors

Fixed Assets

Sundry Creditors

Sundry Debtors

Sundry Creditors

Sales A/c

Tally Audit
Tally Program
Team

Tally Password
All Ledgers
Groups

Tally Vault
All Vouchers
Account

C
A
B

269

273
274
275
276
277
278
279
280
281

Statistics of A/c

Sr. No.
282

Question
is normally allowed by Creditor to his Debtor for getting Immediate

Answer

Trade Discount

Cash Discount

Invoice Price

283

Payment.
Recording of transaction in any book of accounting is called as
.

Transaction

Entry

Capital

284
285
286

is prepared only after adjusting various Ledger Accounts.

is prepared after adjusting various Ledger Accounts.
Impersonal Accounts are Classified into
Parts.

Journal
Journal
Three

VCD & RICE are

Unsecured Loans

Secured Loans

Unsecured Loans

Secured Loans

Unsecured Loans

Secured Loans

Profit & Loss A/c

Balance Sheet
Four
Ledger
Undergroup
Retained
Earnings A/c
Retained
Earnings A/c
Retained
Earnings A/c

A
A
A

287

Trial Balance
Trial Balance
Two
Units of
Measurement

VAT

Income
Codeless
accounting
package
Trial Balance
Manufacturer
Delete

House Tax

Price of package
is high
Daybook
Deductee
Alter

B
A
C
A

288
289

.
is the Under Group of "Reserves kept for Employees ".
is the Under Group of "Loan taken from outside co. against

mortgaging Gold.

291

is the Under Group of "Loan taken from relative without

keeping any security".
is a system of indirect taxation which has been introduced in lieu of
sales tax.

292
293
294
295

The features of Tally are

.
is used for recording day-to-day transaction.
provides service to the Deductor.
Opening screen of Tally contains
elements.

290

Very difficult to
operate
Voucher
Whole seller
Work Area

Stock Items

B
C
B
A

TURE & FALSE

296

Liabilities means amount payable by business to the outsiders.

TRUE

FALSE

297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314

Purchase Order can be sent to the Supplier.

Stock Journal Voucher does not affects Books of Accounts.
Ledgering is Summarizing and Classification of transaction.
Button Bar appears on Left Side of Tally Screen.
Amount invested by business outside his business is Investment.
Liabilities means amount payable by business to the outsiders.
Button Bar appears on Left Side of Tally Screen.
Purchase Order can be sent to the Supplier.
The Amount due from the Debtor is called Debts.
Salary paid to workers & labourers.
Trade Discount is allowed as Deduction from Invoice Price.
Double Entry System is Incomplete or Partial records of Business transaction.
Rule of Real A/c- Debit all Expenses & Losses, Credit all Income & Gains.
Liabilities means amount payable by business to the outsiders.
Purchase Order can be sent to the Supplier.
Configuration option cant change default Layout of Profit & Loss A/c.
Nominal A/c is Credited when business incurs some Expenses.
Excess of Expenses over Income is Net Loss.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
B
A
B
A
A
B
A
A
B
B
B
B
A
A
B
B
A

Sr. No.

Question

Answer

315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335

At the time of Creating Company two Ledger Cash & P/L A/c are created by Default.
Drawings reduces Capital.
F11 key is used to access the feature for a company.
In Balance Sheet shows all our assets & liabilities.
Ctrl+F8 is used to select the credit note voucher.
is short cut key for purchase order.
Ctrl+P is shortcut key for printing used in Tally.
The Amount due from the Debtor is called Debts.
Balances in Trial Balance are temporarily transferred to Suspense A/c.
Discount allowed by Supplier is an Income.
Appreciation charged on Fixed Assets is recorded in Contra Voucher.
Capital=Liabilities Assets.
Entries in Memo Voucher are posted to Ledger.
Appreciation is Loss to Business.
Discount allowed to Customer is an Income.
Capital Invested by Proprietor in Business is Businesss Asset.
Personal A/c is related with Expenses & Incomes.
Sale Voucher record Credit Purchase of Asset.
Memo Voucher is Accounting Voucher.
Transaction accounting for money received are entered into Payment Voucher.
Sales Voucher is used to record goods sold on cash.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
A
A
A
A
B
B
A
A
A
B
B
B
B
B
B
B
B
B
B
B

336
337
338
339

TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE

A
B
A
B

340
341
342

Stock Journal Voucher is used to record stock transfer from one location to another.
Tally allows deletion of Ledger having Entries recorded in that.
Entries made using Memo Voucher will not affect your accounts.
Configuration changes affect only the current company.
Reversing Journal are special Journal that are automatically reversed after a
specified date.
Gateway of Tally screen is separated into three sections.
Purchase Order can be sent to the Customer.

TRUE
TRUE
TRUE

FALSE
FALSE
FALSE

A
B
B

343

Configuration option can change Default Layout.

TRUE

FALSE

TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE

A
A
A
B
A

TRUE
TRUE

FALSE
FALSE

A
B

TRUE
TRUE

FALSE
FALSE

B
B

344
345
346
347
348
349
350
351
352

Financial Year can be splitted to see the Performance of Same Company in

Different Periods.
We can create any number of Cash Accounts.
We can change Drive Name at the time of Backup.
Personal A/c is debited when Person gives something to the Business.
Journal Voucher is used for Adjustment or Rectification Entries.
Contribution made by owner of Business into the Business is classified as Personal
A/c .
Debit Balance of Profit/Loss A/c indicates Net Profit.
Company takes unsecured loans from Bank and other Financial Bodies by
mortgaging its Fixed Assets.
Receipt Voucher records all Payment made through Cash and Bank.

Sr. No.
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372

Question
Sales Order is used to place orders of goods to the Supplier.
There are Two Methods of Entry System in Accountancy.
Credit Note means Sales Return.
Vat Option is available in Tally 7.2.
Personal Account is related with Expenses and Income.
Sale Voucher record Credit Purchase of Asset.
A Person whose Liabilities are more than his Assets, is called Solvent.
Stock is always valued at Market Price.
Amount paid to Office-Staff of the Respective Institution is called Salary.
Benefit of Deferred Revenue Expenses is available for less than One Year.
Calculator area is used for Accounts Creation Function.
Ledgering is Summarizing and Classification of transaction.
Insurance Premium paid is a Indirect Expenditure.
Bank A/c is a personal account.
The person whose assets are more than its liability is known as insolvent .
Narration is written just above an Entry.
Period of which the accounts are prepared is called Accounting Year.
In accounting term each Debit must have a corresponding Credit effect.
Financial Year can be expressed in term of mone.
More than one companies can be loaded at a time.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

A
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

Answer
B
A
A
A
B
B
B
B
A
B
B
B
B
A
B
B
A
A
B
A

373

Carriage on Purchase & Sale is Real A/c.

TRUE

FALSE

374
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
390
391
392
393
394
395
396

Tally Payroll also supports configurable formats for Pay Slip printing.
TDS means Tax Deducted at Sales.
Real A/c are account of Assets and Properties.
A company can be deleted in Alter mode only.
Create Company option is available in Gateway of Tally.
Trial Balance is a statement of Assets and Liabilities.
VAT is system of Direct Taxation.
A person/firm providing a service that comes under the Service Tax.
TCS is the Tax Collected at Source.
In TDS, deductee provides services to the deductor.
Alt+F9 is shortcut key for Receipt Note.
Carriage On purchase and sales is real A/c.
Loss by fire A/c is real A/c.
Purchase Order can be sent to the Customer.
Entries in Memo Voucher are not posted to Ledgers.
Depreciation on Machinery is recorded in Journal Voucher.
Journal Entry is recorded for Placement of order only.
Right hand side of an Account is Credit.
Ctrl + N key is used for Enter the Gateway of Tally.
Financial position of the business is judged by preparing a Balance Sheet.
Benefits of revenue expenditure is more than three years.
Stock is always valued at cost price.
In Accounting terms each debit must have corresponding credit effect.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
B
A
A
B
B
B
A
A
A
A
B
B
B
A
A
B
A
B
A
A
A
A

Sr. No.
397
398
399
400
401
402
403
404
405
406
407
408
409

Question
Return Inward is also known as Purchase Return.
Sales Return means Return Outward.
Trial Balance contain all ledger credit & debit balances.
Gross Profit is posted to Balance Sheet.
Commission received in advance is our Liability.
Single Entry System has very limited value.
According to money measurement concept, the events which can be measured in
terms of money are only recorded in the books of accounts.
Assets when purchased are recorded at cost price & not at market price.
Create Company option is available in Gateway of Tally.
Memo voucher can not be converted into regular voucher.
Journal Voucher is for rectification / adjustment entries.
We cant create more than one Godown.
Purchase & Sales Order are activated through Company Features.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

A
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

Answer
B
B
A
B
A
A

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
A
B
B
A
B
A

410

Tally automatically generates a number of reports once we have enter the vouchers.

TRUE

FALSE

411
412
413
414
415
416
417
418
419
420
421

Statistics gives the information about the no. of different vouchers, ledgers, Groups.
Cash/Funds flow option displays overall information of the goods movement.
Daybook is right place to alter display, insert a voucher.
Through E-mail option we can send Invoice to our customer.
We cannot publish all reports & documents on websites with the help of Tally.
Vouchers are used to record day to day transaction.
Vouchers are used for recording day to day transactions.
A person who owes money to the business is creditor.
The invoice received along with goods purchased is called as inward invoice.
All types of bank accounts are current asset.
Contra voucher includes all the entries between bank and cash.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
B
A
A
B
A
A
B
A
A
A

422
423
424
425

Profit and Loss account is an arithmetical check of all the entries done upto date.
In the Balance sheet every debit entry is matched by a credit entry.
Ledgers are very important for voucher entries.
Tally does not permit to change the parent of a predefined group.

TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE

B
A
A
A

426
427
428
429
430
431
432
433

In Tally, configuration option affects all companies maintained in the same directory.
In Tally, Journal vouchers can be used to record cash or bank transactions.
User can delete a groups from multiple alternation mode.
User can delete a group from single alteration mode only.
Ledger can be deleted when there is no transactions recorded into ledger.
In display mode user can make any change in the group.
User can select more than one company at a time.
After creating a company, many cash accounts can be created.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
B
B
A
A
B
A
A

434

Profit & Loss A/c displays all primary groups and their closing Dr. and Cr. Balance.

TRUE

FALSE

Sr. No.
435
436

Question
Title bar of Tally displays information about software versions, release date and
time.
For maintaining accounts, Tally requires accounting code.

Answer

TRUE
TRUE

FALSE
FALSE

B
B

437
438
439
440
441
442
443
444
445
446

Receipt voucher includes all the transactions in which cash comes in the company.
Managing single and multiple group is very important feature of Tally.
In Tally, features activated through F12 key are applicable to all companies.
In Tally, button bar provides quick access to different options.
In payment voucher, cash account has debit type of balance.
In Receipt voucher, cash account has debit type of balance.
To activate gateway of Tally press Ctrl+N as a shortcut key.
Voucher can be marked as post dated in Tally.
Trial Balance is an arithmetic check of all the entries done up to date.
Memo voucher entries do not affect the Balance Sheet.

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE

A
A
A
A
B
A
B
A
A
A