ZOHO BOOKS CONCEPTS QUIZ - ONLINE WORKSHOP

What is the main purpose of the Zoho Books dashboard?

• a) To view customer reviews

• b) To provide a summary of business activities

• c) To customize financial reports

• d) To access settings directly

Answer explanation

1. Answer: b) To provide a summary of business activities
   Explanation: The dashboard provides a summary of business activities, including income, expenses, and bank balances.

Which module in Zoho Books is used to manage customer payments?

• a) Purchases

• b) Banking

• c) Sales

• d) Inventory

Answer explanation

Answer: c) Sales
Explanation: The Sales module is where you manage customer payments, invoices, and estimates.

What does GST stand for in Zoho Books?

• a) General Sales Tax

• b) Goods and Services Tax

• c) General Services Tax

• d) Government Services Tax

Answer explanation

Answer: b
Explanation: GST stands for Goods and Services Tax, applicable to goods and services in India.

Zoho Books does not allow you to customize financial reports

• TRUE

• FALSE

Answer explanation

Explanation: Zoho Books provides options to customize financial reports based on business needs.

The __________ report in Zoho Books summarizes a business's financial performance over a period.

Answer explanation

Answer: Profit and Loss Statement
Explanation: The Profit and Loss Statement shows income, expenses, and profit or loss.

You sold goods worth ₹50,000 with 18% GST. What is the total invoice amount?

• a) ₹50,000

• b) ₹59,000

• c) ₹65,000

• d) ₹53,000

Answer explanation

Answer: b
Explanation: Total invoice amount = ₹50,000 + 18% of ₹50,000 = ₹59,000

You want to track the stock of products sold. Which module should you use?

• a) Sales

• b) Inventory

• c) Purchases

• d) Banking

Answer explanation

Answer: b
Explanation: The Inventory module tracks stock levels, purchases, and sales.

All customers in Zoho Books must be assigned a unique GSTIN.

• TRUE

• FALSE

Answer explanation

Answer: False
Explanation: Only GST-registered customers need a GSTIN

A voucher is used to record a business transaction in Zoho Books

• TRUE

• FALSE

Answer explanation

8. Answer: True
   Explanation: Vouchers are a common way to record transactions in accounting software.

The GST filing feature in Zoho Books is available only for Indian businesses.

• TRUE

• FALSE

Answer explanation

6. Answer: True
   Explanation: GST filing is tailored for Indian businesses, aligning with Indian tax regulations.