TC Blore Cost Centre Mgt

Cost Centres are created for __

• Tracking Expenses & profit incurred at department level
• To generate Profit & Loss a/c at department level
• Both of these

We can create Sub-cost centres in TallyPrime

• True
• False

Why Cost Category is created?

• To classify the Cost Centres
• To allocate expenses or profit parallel to cost centres
• To group the sub- Cost centres

The option "Cost centres are applicable" is set to yes by default in which of these ledgers?

• Assets
• Liabilities
• Expenses & Incomes

How we account opening balance for Cost centre after the data split?

• Record Purchase or Sales as on 1st April and select cost centre in entry
• Record Journal voucher as on 1st April with Dr and Cr ledger along with allocation to Cost centre
• Enter opening balance in Cost Centre master

Can I create Budgets for Cost centres?

• Yes
• No

Can I allocate Cost centre to Inventory?

• Yes
• No

Can I use Cost centres for Project cost tracking?

• Yes
• No

Can I create Cost Centre under a Cost category?

• Yes
• No

Which of these reports can be used to view all the cost centers details in one screen?

• Cost Centre Breakup
• Stock Summary
• Cost Centre Summary