Tally & Domain Quiz - 6

Inventory can be valued based on many costing methods. Which one of the following is not a costing method for Inventory valuation?

• GIGO
• FIFO
• LIFO
• Avg Cost

Electricity expenses paid by cash. In this transaction what is reflected in expenses side of the Profit and loss a/c?

• Electricity
• Cash
• Income
• Electricity Board A/c

Which of the following is a liability ?

• Share Capital
• Closing Stock
• Investment
• Cash balance

We have create a senario management for indirect expenses, Where we can get the report?

• Trading A/c + Auto Column
• Profit & Loss A/c + Auto Column
• Trial Balance + Auto Column
• Accounts Books + Auto Column

Dinesh Enterprises had set a budget of Rs. 1,00,000 for their Marketing expenses, they have utilized only Rs. 45,000. The balance 55,000 will be called as ____________ .

• Budget Surplus
• Budget Deficit
• Balanced Budget
• None of the above

Bright Enterprises has multiple departments e.g. Accounts, Sales, Marketing and HR. The owner wants to know the oprational expenses incurred by each department. The departments can be best referred to as ____________

• Scenarios
• Ledgers
• Groups
• Cost Centre

When a company sells goods/services in a foreign currency, and when the prevailing exchange rate differs due to conversion of foreign currency into the local currency of seller, the difference will be treated as _________________

• Forex gain/loss
• Difference in opening balances
• Gross Profit
• Nett profit

Dinesh Enterprises owes money to their suppliers for purchases made earlier. The money that is owed to suppliers is referred to as ___________.

• Reminder Letter
• Receivables
• Payables
• Payment Advice

Pranav enterprises sells goods to a company in Africa. As per GST law, this type of sale can be classified as ________

• Intrastate Sale
• Export
• Interstate sale
• Not in scope of GST

Atria Enterprises wants to know, the goods that are sent to the customer but invoices yet to be made. _______ report in Tally will help in finding this.

• Sales Bills Pending
• Sale Order Outstandings
• Receivables
• Movement Analysis