Quiz 1 - Tally Yellow belt 3.0

To set the budget for any expenses of Bright Enterprises, we need to activate the Budget feature from _________?

• Company Creation Screen
• Master Creation
• Not a default feature of Tally
• F11

Will Bright Enterprises be able to edit any budget which they had already set in Tally?

• Once Set, can’t be edited
• Yes

Can Bright Enterprises create Multiple budgets for their company in TallyPrime ?

• No not possible in Tally
• Maximum 9 Nos of Budgets can be created in a FY
• None of the above
• Yes

Tally will allow Bright Enterprises to set budgets for _____

• Month

• Quarter

• Year

• Day, week, Month, Quarter, Year

Can Bright Enterprises see the Budget variance of a specific accounting ledger ? 

• No such report is available in tally.
• Yes

If Bright Enterprises sets a credit limit for a customer, when the credit limit is exceeded, Tally will ___________________

• Give a warning and allow to save the voucher
• Display credit limit is exceeded in ledger report
• Give a warning and does not allow to save the transaction
• Not give any warning / error

‘Realized Forex Gain or Loss’ arises, when _____________

• Foreign currency transaction is not complete and there is fluctuation in forex rates
• Foreign currency transaction is not complete and there is no fluctuation in forex rates
• Foreign currency transaction is complete, and there is fluctuation in forex rates
• Foreign currency transaction is complete, and there is no fluctuation in forex rates

Bright Enterprises can maintain the rate of exchange in Tally by _________

• Recording a forex transaction
• Specifying rate of exchange in the currency master
• Use the Exchange rate screen
• All the above

Excellent Enterprises wants to calculate ‘Simple interest’. This can be set through _____________

• F11 Features
• Ledger Alteration Screen
• Gateway of Tally  F12 Configure
• Voucher Class

User has the flexibility to generate an interest liability of the customer. For generating the interest liability which voucher type should be recorded ?

• Payment
• Debit / Credit Note
• Receipt
• Journal