Tally Professional 4.0 Mocktest - 2

In Tally prime what is the purpose of using the work sheet "ledger (read me)" when entering data into the sample excel file

• To edit the existing data

• it serves as a reference for column headers

• to remove unnecessary columns

• to make actual data entry

Mr Prakash took loan of Rs.10000 from Mr. Soorya on 1st May 2023 at 10% per month on simple interest basis. What is the simple interest amount payable for May month?

• 90

• 100

• 1000

• 10000

In Tally prime the professional tax report is generated based on the slab rate defined in _______ pay head

• Professional tax

• salary payable

• income tax

• conveyance

As per the payroll regime, the Permanent Retirement Account Number is a 12 digit numerical code that is allocated to every person who has subscribed to the _______

• Employee Provident Fund (EPF)

• Employers State Insurance (ESI)

• Employees state Insurance (ESI)

• National Pension Scheme (NPS)

In Tally Prime it is possible to view the range wise cheques by clicking on F8: transactions from the cheque range register

• TRUE

• FALSE

In Tally Prime, by using which of the following payroll masters option, an employee can override the tax deduction amount for any specific period

• Income Tax pay head details

• Income tax amount

• Income tax exempt

• Income tax declaration

Which of the following interest styles are not available in the interest parameter screen of Tally Prime

• 182 days half yearly

• 3 months quarter

• 30 day month

• calendar year

As per the Sec.194 Q of TDS act, a buyer having turnover exceeding _______ the previous financial year is required to deduct TDS at the rate of 0.1% of the purchase value above 50 lakhs at the time of payment

• 8 crores

• 10 crores

• 1 crore

• 5 crores

Under Pay roll reports the salary projection report provides the details of the earnings and deductions pay head values of employees in Tally prime

• TRUE

• FALSE

The connectivity status report of Tally prime gives the details of all the companies that are connected to Tally.Net Servers

• TRUE

• FALSE