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WorksheetsTEST-1 Fundamental of Accounting & Introduction to Tally Prime.
Total questions: 30
Worksheet time: 30mins
The Accounting Process begins with identifying and recording the transaction in the books of accounts.
True
False
'Accounts relating to individuals, a group of individuals, firms and institution. This statement is used for which on of the following type Accounts?
General Accounts
Nominal Accounts
Real Accounts
Personal Accounts
Debit all expenses and losses; credit all income and gains is the Golden Rules for which of the following type of Accounts?
Personal Accounts
Real Accounts
Nominal Accounts
General Accounts
Which on of the Following financial statement helps verify the arithmetical accuracy of posting to the ledger accounts?
Balance Sheet
Profit and Loss Account
Ratio Analysis
Trial Balance
choose a Example for Personal Account
Cash
Salary
SBI Bank
Vehicle Showroom
The example "Commission" is which type of Account?
Nominal Account
Real Account
Personal Account
Capital Account
Chose the below Golden rule for Real Account?
Debit (Dr) The Receiver
Credit (Cr) The Giver
Debit (Dr) What comes in
Credit (Cr) What goes out
Debit (Dr) What comes in
Credit (Cr) The Giver
Debit (Dr) All Expenses and Losses
Credit (Cr) Income and Gains
Chose a example for Service Organization?
Hotels
Retail Business
Machine
Robots
An organization which deals in Purchase & Sale termed as Trading organization. Where an organization Purchase goods to sale further after adding there profit. This is belong to which organization?
Service Organization
Manufacturing
Organization
Trading Organization
Doctor Organization
Debit (Dr) All Expenses and Losses
Credit (Cr) Income and Gains.
This golden rule belong to?
Personal Accounts
Nominal
Accounts
Real
Accounts
Silver Edition (Single User) it is a Tally Prime License?
YES
NO
The highlighted features comes under?
Top Menu
Right Menu
Interface of Tally
Gateway of Tally
What two Buttons Are Presents in Tally Gateway Right Menu?
Company
Time
Date
Time
Date
Company
Payment
Sales
Which of the following option can navigate to reports and vouchers from anywhere to anywhere within Tally?
More Details
Go To
Company
Change Mode
___ allows ease of navigation to a different task Like creating your masters, Vouchers, or Viewing the reports. especially when you have completed your current task.
Switch to
Company
Change Mode
More Details
From Gateway of Tally, which among the following "F2" options is available in the Right button?
Data
Date
Exchange
Company
A------ is a business activity that involves the transfer of money or money's worth between accounts.
Transaction
Subsidiary Book
Ledger
Group
The earning of a business through its activities and operations are called-----.
Share Capital
Retained Earnings
Expenditure
Revenue
'Liability' means the amount due from a business to others.
TRUE
FALSE
Which of the following is not a feature of Tally Prime?
Blazing Speed
Multi-tasking
Easy Navigation
Accounting Software using codes
In Tally Prime, which of the following option will not appear in the top Menu?
F2: Date
K: Company
Y: Data
Z: Exchange
In Tally Prime, we can perform various tasks using the Top Menu options, without having to follow a rigid set of steps for each task.
TRUE
FALSE
Which of the following option will not appear in the License/start-up screen of Tally Prime?
Continue in Education Mode
Use License from Network
Reactivate Existing License
Re-configure Existing License
In the Company Feature Alteration screen, by activating Show all features, additional features can be activated in Tally Prime
TRUE
FALSE
Tally Prime is available as Single and Multi-user types of License.
TURE
FALSE
Which of the following accounts will credited if a company purchases a building for cash?
Fixed Assets A/C
Cash A/C
Building A/C
Capital A/C
Avinash India Pvt. Ltd. has a sales revenue of Rs. 1,50,000 sales discount of Rs. 12,000 sales returns and allowances of Rs. 24,000 and cost of good sold of Rs. 60,000.
What would be the net sales revenue of Avinash Pvt. Ltd. ?
Rs. 1,02,000
Rs. 1,14,000
Rs. 90,000
Rs. 54000
Cost of a Fixed assets - accumulated depreciation expenses of
the fixed asset =
Book value of a fixed asset
The market value of a fixed asset
The historical cost of a fixed asset
The recoverable amount a fixed asset
The act of recording a transaction in the journal is called .
Summarising
Vouchering
Journalising
Description
As per accounting concept, the assets should have the debit balance and the liabilities should have the credit balance.
TURE
FALSE
