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Tally Professional 4.0 Mocktest - 2

Total questions: 52

Worksheet time: 28mins

Name
Class
Date
1.

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

a)

To edit the existing data

b)

it serves as a reference for column headers

c)

to remove unnecessary columns

d)

to make actual data entry

2.

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?

a)

90

b)

100

c)

1000

d)

10000

3.

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

a)

Professional tax

b)

salary payable

c)

income tax

d)

conveyance

4.

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 _______

a)

Employee Provident Fund (EPF)

b)

Employers State Insurance (ESI)

c)

Employees state Insurance (ESI)

d)

National Pension Scheme (NPS)

5.

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

a)

TRUE

b)

FALSE

6.

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

a)

Income Tax pay head details

b)

Income tax amount

c)

Income tax exempt

d)

Income tax declaration

7.

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

a)

182 days half yearly

b)

3 months quarter

c)

30 day month

d)

calendar year

8.

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

a)

8 crores

b)

10 crores

c)

1 crore

d)

5 crores

9.

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

a)

TRUE

b)

FALSE

10.

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

a)

TRUE

b)

FALSE

11.

____ is the short cut key used to record the stock journal voucher in Tally Prime

a)

Alt+F6 stock journal

b)

Ctrl+F8 stock journal

c)

Alt+F7 stock journal

d)

ctrl+F7 stock journal

12.

what is the full form of PRAN in Pay roll

a)

Permanent Retirement Account Number

b)

Person Retirement Account Number

c)

Provident Retirement Account Number

d)

Permanent Regular Account Number

13.

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

a)

P&L a/c >indirect income> forex gain

b)

Trial balance > sales a/c> forex gain

c)

P&L a/c >direct income> forex gain

d)

Balance sheet> current liabilities> forex gain

14.

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

a)

F10 other master

b)

Ctrl+I more details

c)

F12 configure

d)

Alt+H helper

15.

The sales voucher recorded using TCS nature of goods " Transfer of right to use" can be viewed in ______

a)

From 27EQ

b)

From 27Q

c)

From 24Q

d)

From 26Q

16.

As per the Payroll regime what is the monthly wage threshold limit applicability for the Employees State Insurance Corporation(ESIC)

a)

15000

b)

21000

c)

19000

d)

17000

17.

In Tally Prime TVU stands for _____

a)

Tally Virtual User

b)

Tally Voucher Use

c)

Tally Voucher User

d)

Tally Voucher Number

18.

In which of the following TDS forms we can view the details of the payments made to company non -residents

a)

Form 27EQ

b)

Form 27Q

c)

Form 26Q

d)

Form 24Q

19.

Realization of the foreign transactions is nothing but a transaction that is____ after making the receipt or payment

a)

Realized

b)

Not realised

c)

Not completed

d)

Completed

20.

The Payment instructions exported from Tally Prime must be uploaded to the Net banking portal to get the intermediate file

a)

True

b)

False

21.

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

a)

Currency creation

b)

List of currencies

c)

Forex rate of Exchange

d)

currency alteration

22.

Under GST Regime, GSTN Stands for

a)

Goods Supplies Network

b)

Goods and Services Tax Network

c)

Goods and Services Tax Net

d)

Goods and Service Tax Net

23.

After activating the interest calculation option in the party ledger creation screen, by default ,Tally prime will display the interest Parameters in Compound Mode

a)

TRUE

b)

FALSE

24.

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

a)

Print area

b)

Print as TCS challan

c)

Print instrument Date

d)

Print Payment Advice

25.

In Tally prime, ______ voucher is used to record employees attendance data

a)

Attendance

b)

Payroll

c)

Journal

d)

Pay sheet

26.

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?

a)

Cost Centre Vouchers

b)

Cost Centre Breakup

c)

Accounting Voucher

d)

Ledger Monthly summary

27.

Under GST regime for Regular dealers, there is no condition for claiming refund of unutilized Input Tax Credit

a)

True

b)

False

28.

In Tally prime which of the following employer related expense pay head type will not appear in the Employee's Salary details screen ?

a)

Employees Statutory deductions

b)

Earnings for Employees

c)

Employer's Other Charges

d)

Employer's Statutory Contributions

29.

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

a)

House rent allowance

b)

Conveyance Allowance

c)

Overtime

d)

Variable Allowance

30.

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

a)

True

b)

False

31.

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

a)

R - Alter details

b)

J - Accept as is

c)

S - Update details

d)

L - Save view

32.

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 ?

a)

Under exemption list

b)

Included in return

c)

Balance payable

d)

Not relevant in this Return

33.

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?

a)

Earned Leave

b)

Sick Leave

c)

Maternity Leave

d)

Paternity Leave

e)

casual leave

34.

In the GSTR 2A reconciliation report, the GST registration, Return type, and file path will be displayed under which screen in Tally prime

a)

Configuration

b)

Import Summary

c)

Import GST return

d)

Report details

35.

Which of the following GST forms can be generated for GST Composition dealers in Tally prime

a)

GSTR 1

b)

GSTR 4

c)

GST CMP-08

d)

GSTR 3B

36.

Under Payroll, CTC stands for ______

a)

Cost to Contracts (CTC)

b)

Contribution to Company (CTC)

c)

Cost to Company (CTC)

d)

Cost Components of Company (CTC)

37.

As per Income tax law, what is the due date to deposit TCS to the Income Tax Department

a)

7th of succeeding month

b)

21st of succeeding month

c)

10 the of succeeding month

d)

30th of succeeding month

38.

From which of the following screen of Tally prime we can set " Enable Job order Processing" to Yes?

a)

Stock item creation

b)

Stock item components (BOM)

c)

Company Features screen

d)

Company Features Alteration

39.

While exporting GSTR-1 report, under the Export screen the file format by default appears as JSON (Data interchange) in Tally Prime

a)

True

b)

False

40.

Under the GST regime, which of the following invoices must be reported to the GST E- invoice system ?

a)

B2B Tax invoices

b)

Export Invoices

c)

Reverse Charge Invoices

d)

B2C (Small) invoices

e)

Import of Goods

41.

What type of graphs are utilized for the visual representation of trends and comparisons of the Dashboard data in Tally prime?

a)

Bar and Line Graphs

b)

Line and Pie graphs

c)

Bar and Pie graphs

d)

Only Bar graphs

42.

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 ?

a)

Document type (invoice, credit note etc) and the financial year of the invoice

b)

supplier GSTIN and Invoice number and document number

c)

Invoice value and Taxable value or Tax amount

d)

Date of Company creation and Suppliers name

43.

which of the following is the navigation path to create Tally.NET users for the company in Tally Prime?

a)

Gateway of tally > click Alt +Y Company > select change user

b)

Gateway of tally > click Alt +Y Company > select users and passwords

c)

Gateway of tally > click Alt +K Company > select user roles

d)

Gateway of tally > click Alt +K Company > select users and Passwords

44.

In Tally Prime, the e-waybill can also be generated if the supply of goods is made less than Rs .50000

a)

TRUE

b)

FALSE

45.

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

a)

Ravi electronics PVT ltd

b)

Sahara Enterprises PVT ltd

c)

Prithvi Enterprises PVT ltd

d)

SLV electricals PVT ltd

46.

What is the function of the "overwrite vouchers when a voucher with the same GUID exist " option in Tally Prime

a)

It handles the voucher exceptions

b)

It encrypts voucher during import

c)

it creates the duplicate vouchers during import

d)

it overwrite the duplicate vouchers during import

47.

What is the purpose of importing data into Tally prime from external software

a)

To make the books of accounts complicated

b)

To import data only from online retail business

c)

To create a backup of Tally prime data

d)

To keep updated books of accounts and ensure compliance

48.

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/$.

a)

3698.5 /nos

b)

10235.40/nos

c)

10105.50/nos

d)

13898.50/nos

49.

In Tally prime which of the following sections are not available in the E invoice report depending on the status of GST sales transactions

a)

Missing/invalid information

b)

voucher information mismatch with QR code

c)

Not relevant in this return

d)

User excluded transactions

50.

In Tally prime which of the following is the correct navigation path to view the gratuity report of an employee?

a)

From Gate way of Tally>display more reports>payroll statutory reports>gratuity

b)

From Gate way of Tally>display more reports> pay roll register>gratuity

c)

From Gate way of Tally>display more reports>payroll reports>gratuity

d)

From Gate way of Tally>display more reports>payroll reports>payroll register>gratuity

51.

The file validation utility tool for validating the Form 27 EQ for E-Return can be downloaded from which of the following websites ?

a)

www.gst.gov.in

b)

www.cbic.gov.in

c)

www.traces.in

d)

www.tin-nsdl.com

52.

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.?

a)

CTRL+H Change View

b)

CTRL+B Basis of Values

c)

F8 Job work out

d)

F12 Configure