WorksheetsTally Professional 4.0 Mocktest - 2
Total questions: 52
Worksheet time: 28mins
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
____ is the short cut key used to record the stock journal voucher in Tally Prime
Alt+F6 stock journal
Ctrl+F8 stock journal
Alt+F7 stock journal
ctrl+F7 stock journal
what is the full form of PRAN in Pay roll
Permanent Retirement Account Number
Person Retirement Account Number
Provident Retirement Account Number
Permanent Regular Account Number
After accounting the Forex gain adjustment entry for a party, the adjustment amount will be transferred from the Balance sheet to which of the following accounting reports
P&L a/c >indirect income> forex gain
Trial balance > sales a/c> forex gain
P&L a/c >direct income> forex gain
Balance sheet> current liabilities> forex gain
In Tally Prime after entering the currency symbol in currency creation screen , which of the following option is used to get the list of currencies in the formal name field
F10 other master
Ctrl+I more details
F12 configure
Alt+H helper
The sales voucher recorded using TCS nature of goods " Transfer of right to use" can be viewed in ______
From 27EQ
From 27Q
From 24Q
From 26Q
As per the Payroll regime what is the monthly wage threshold limit applicability for the Employees State Insurance Corporation(ESIC)
15000
21000
19000
17000
In Tally Prime TVU stands for _____
Tally Virtual User
Tally Voucher Use
Tally Voucher User
Tally Voucher Number
In which of the following TDS forms we can view the details of the payments made to company non -residents
Form 27EQ
Form 27Q
Form 26Q
Form 24Q
Realization of the foreign transactions is nothing but a transaction that is____ after making the receipt or payment
Realized
Not realised
Not completed
Completed
The Payment instructions exported from Tally Prime must be uploaded to the Net banking portal to get the intermediate file
True
False
Tally prime automatically calculates Forex gain or loss for foreign exchange transactions using the standard rates, specified rates, and actual transaction rates specified in the ______ menu
Currency creation
List of currencies
Forex rate of Exchange
currency alteration
Under GST Regime, GSTN Stands for
Goods Supplies Network
Goods and Services Tax Network
Goods and Services Tax Net
Goods and Service Tax Net
After activating the interest calculation option in the party ledger creation screen, by default ,Tally prime will display the interest Parameters in Compound Mode
TRUE
FALSE
From the payment voucher printing configuration screen, which of the following option must be enabled in order to print the TCS Tax Challan in Tally prime
Print area
Print as TCS challan
Print instrument Date
Print Payment Advice
In Tally prime, ______ voucher is used to record employees attendance data
Attendance
Payroll
Journal
Pay sheet
Which of the following screen appears after selecting the ' Breakup Job/project' option from the list of views of the Job Work Analysis report in Tally Prime?
Cost Centre Vouchers
Cost Centre Breakup
Accounting Voucher
Ledger Monthly summary
Under GST regime for Regular dealers, there is no condition for claiming refund of unutilized Input Tax Credit
True
False
In Tally prime which of the following employer related expense pay head type will not appear in the Employee's Salary details screen ?
Employees Statutory deductions
Earnings for Employees
Employer's Other Charges
Employer's Statutory Contributions
Suhas Enterprises Pvt Ltd. Located in Bengaluru, provides a _____ to its employees for the transportation of employees from residence to office and office to residence
House rent allowance
Conveyance Allowance
Overtime
Variable Allowance
The Tax Collected at Source (TCS) is the tax that a seller deducts from the buyer during the sale of specific goods under provision 206C
True
False
If the buyer is going to deduct TDS while making the payment, then the transaction will be exempted from TCS. Hence, while filing TCS returns, you have to provide the challan no. and the date against which TCS was paid.
For the given statement, suggest the option that is used in Tally prime to update the challan details from the TCS challan details of the Buyer screen
R - Alter details
J - Accept as is
S - Update details
L - Save view
In Tally prime, which of the following tables in the TDS form 26Q contains the list of vouchers that are booked for TDS expenses without deducting TDS in same voucher ?
Under exemption list
Included in return
Balance payable
Not relevant in this Return
As per the company policies under the payroll regime, which of the following types of paid leave are entitled to the employees with the conditions?
Earned Leave
Sick Leave
Maternity Leave
Paternity Leave
casual leave
In the GSTR 2A reconciliation report, the GST registration, Return type, and file path will be displayed under which screen in Tally prime
Configuration
Import Summary
Import GST return
Report details
Which of the following GST forms can be generated for GST Composition dealers in Tally prime
GSTR 1
GSTR 4
GST CMP-08
GSTR 3B
Under Payroll, CTC stands for ______
Cost to Contracts (CTC)
Contribution to Company (CTC)
Cost to Company (CTC)
Cost Components of Company (CTC)
As per Income tax law, what is the due date to deposit TCS to the Income Tax Department
7th of succeeding month
21st of succeeding month
10 the of succeeding month
30th of succeeding month
From which of the following screen of Tally prime we can set " Enable Job order Processing" to Yes?
Stock item creation
Stock item components (BOM)
Company Features screen
Company Features Alteration
While exporting GSTR-1 report, under the Export screen the file format by default appears as JSON (Data interchange) in Tally Prime
True
False
Under the GST regime, which of the following invoices must be reported to the GST E- invoice system ?
B2B Tax invoices
Export Invoices
Reverse Charge Invoices
B2C (Small) invoices
Import of Goods
What type of graphs are utilized for the visual representation of trends and comparisons of the Dashboard data in Tally prime?
Bar and Line Graphs
Line and Pie graphs
Bar and Pie graphs
Only Bar graphs
For GST E-Invoice , the Invoice Reference Number (IRN) will be formed by computing SHA 256 hash (Secure Hash Algorithm) and by combining which of the following details ?
Document type (invoice, credit note etc) and the financial year of the invoice
supplier GSTIN and Invoice number and document number
Invoice value and Taxable value or Tax amount
Date of Company creation and Suppliers name
which of the following is the navigation path to create Tally.NET users for the company in Tally Prime?
Gateway of tally > click Alt +Y Company > select change user
Gateway of tally > click Alt +Y Company > select users and passwords
Gateway of tally > click Alt +K Company > select user roles
Gateway of tally > click Alt +K Company > select users and Passwords
In Tally Prime, the e-waybill can also be generated if the supply of goods is made less than Rs .50000
TRUE
FALSE
Prithvi Enterprises Pvt Ltd. received a job worker in order for manufacturing 55 nos electric air circulation fans from Sahara Enterprises PVT ltd. Jayanagar Bengaluru. The company has received raw materials for manufacturing the electric air circulation fans.
From the above given statement which of the following will act as a job worker
Ravi electronics PVT ltd
Sahara Enterprises PVT ltd
Prithvi Enterprises PVT ltd
SLV electricals PVT ltd
What is the function of the "overwrite vouchers when a voucher with the same GUID exist " option in Tally Prime
It handles the voucher exceptions
It encrypts voucher during import
it creates the duplicate vouchers during import
it overwrite the duplicate vouchers during import
What is the purpose of importing data into Tally prime from external software
To make the books of accounts complicated
To import data only from online retail business
To create a backup of Tally prime data
To keep updated books of accounts and ensure compliance
As on 10th April 2024 Sufy Enterprises Pvt ltd sold 10 nos of "Nescafe coffee makers automatic grind and brew" at 190 rate per $ (Dollar) to Andrews coffee shop ,Canada on credit with sale bill no.1 . Refer to the provided information and find out the rate in Rupee if the rate of exchange is 73.15/$.
3698.5 /nos
10235.40/nos
10105.50/nos
13898.50/nos
In Tally prime which of the following sections are not available in the E invoice report depending on the status of GST sales transactions
Missing/invalid information
voucher information mismatch with QR code
Not relevant in this return
User excluded transactions
In Tally prime which of the following is the correct navigation path to view the gratuity report of an employee?
From Gate way of Tally>display more reports>payroll statutory reports>gratuity
From Gate way of Tally>display more reports> pay roll register>gratuity
From Gate way of Tally>display more reports>payroll reports>gratuity
From Gate way of Tally>display more reports>payroll reports>payroll register>gratuity
The file validation utility tool for validating the Form 27 EQ for E-Return can be downloaded from which of the following websites ?
www.gst.gov.in
www.cbic.gov.in
www.traces.in
www.tin-nsdl.com
In the components order summary report of Tally prime , we can view the Job work Out voucher details by using which of the following options.?
CTRL+H Change View
CTRL+B Basis of Values
F8 Job work out
F12 Configure
