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COMPUTERISED ACCOUNTING WITH TALLY

Total questions: 109

Worksheet time: 55mins

Name
Class
Date
1.

What type of application software is Tally?

a)

Statistics package

b)

Spreadsheet package

c)

Accounting Package

d)

All of these

2.

Tally package is developed by

a)

Peutronics

b)

Tally Solutions

c)

Coral Softwares

d)

Vedika Softwares

3.

Which menu appears after starting Tally for the first time?

a)

Gateway of Tally

b)

Company Info

c)

Display

d)

None of these

4.

Latest version of Tally package is....

a)

8.1

b)

4.93

c)

8.1

d)

5.5.2

5.

Oldest version of tally was.........

a)

5.2

b)

5.5.2

c)

4.93

d)

None of these

6.

Which option is used in Tally to make changes in created company?

a)

Select Company

b)

Shut Company

c)

Alter

d)

None of these

7.

Which option from Company Info.menu is selected to create a new Company in Tally?

a)

Company Create

b)

Create Company

c)

Create

d)

New Company

8.

Which option is selected from Company Info Menu to divide company data into two financial years?

a)

Change Tally Vault

b)

Alter

c)

Split Company Data

d)

New Company

9.

Which option is used to copy company’s data into pen drive or CD?

a)

Backup

b)

Restore

c)

Split Company Data

d)

Copy Data

10.

Which option is used to place data taken in pen drive or CD to Appropriate place in Tally?

a)

Backup

b)

Restore

c)

Split Company Data

d)

None of these

11.

Which shortcut key is pressed to display Part No. for automobile industries?

a)

F1

b)

F2

c)

F11

d)

F12

12.

Which option is used to view Trial Balance from Gateway of Tally?

a)

Gateway of Tally→ Reports→ Trial Balance

b)

Gateway of Tally→ Trial Balance

c)

Gateway of Tally → Reports → Display → Trial Balance

d)

None of these

13.

Which option is true for viewing Profit & Loss A/C in Gateway of Tally?

a)

Gateway of Tally → Reports → Profit & Loss A/C

b)

Gateway of Tally → Display → Profit & Loss A/C

c)

Gateway of Tally → Account Books → Profit & Loss A/C

d)

None of these

14.

What percent of additional Tax is applied in VAT is 4%?

a)

1%

b)

4%

c)

2.5%

d)

1.5%

15.

What percent of Additional Tax is applied if VAT in 12.5%?

a)

1%

b)

2.5%

c)

4%

d)

1.5%

16.

Which shortcut key is used to enable Value Added Tax?

a)

F1

b)

F5

c)

F11

d)

F12

17.

Which shortcut key is pressed to set ‘Yes’ in 'Allow Selection of VAT/Tax class during entry'?

a)

F11

b)

F12

c)

F3

d)

F5

18.

Which group [Under] is selected in Input VAT or Output VAT?

a)

Duties & Taxes

b)

Indirect Expenses

c)

Direct Expenses

d)

Sundry Creditors

19.

Which group [Under] is selected in Input Additional Tax or Output Additional Tax?

a)

Direct Expenses

b)

Indirect Expenses

c)

Duties & Taxes

d)

Sundry Creditors

20.

Which shortcut key is pressed to create a new Ledger during voucher entry?

a)

Alt + C

b)

Alt + X

c)

Alt + D

d)

Alt + A

21.

A ledger may get declaration space for its Alias through

a)

F12

b)

F11

c)

Alt + F1

d)

Alt + F2

22.

F12 is known as

a)

Company Features

b)

Company Configuration

c)

Accounting Features

d)

None of these

23.

What is the utility of Tally Vault Password?

a)

It will lock the period of Company

b)

It will lock all voucher entries for that Company

c)

It will not show the Company Name in the Company Select List.

d)

None of these

24.

We can show Bill wise details of Debtors and Creditors by activating

a)

Bill by bill

b)

Maintain Bill wise Details

c)

Maintain References

d)

None of these

25.

The shortcut key to quit from Tally is

a)

Ctrl + L

b)

Ctrl + P

c)

Ctrl + M

d)

Ctrl + Q

26.

How many inbuilt Accounts group are in tally by default?

a)

29

b)

31

c)

25

d)

34

27.

The shortcut used to activate calculator is

a)

Ctrl + N

b)

Ctrl + M

c)

Ctrl + A

d)

Ctrl + B

28.

Suspense Account Group is defined under

a)

Income

b)

Expenditure

c)

Liabilities

d)

Assets

29.

To activate MRP feature from Gateway of Tally initially we need to press

a)

F11

b)

F12

c)

F10

d)

Alt + F1

30.

MRP formula for inclusive of vat is

a)

{Vat %*( MRP * QTY)}/100

b)

(100*rate of vat)/(100+rateof vat)

c)

Both a & b

d)

None of these

31.

Manufacturing Journal creates based on

a)

Journal

b)

Receipt Note

c)

Stock Journal

d)

Purchase Quotation

32.

To create Manufacturing Journal which option must be activated

a)

Use Common Narration

b)

Narrations for each entry

c)

Prefilled with Zero

d)

Use as manufacturing Journal

33.

How many types of Measurement Units we can create in Tally?

a)

2

b)

3

c)

5

d)

Unlimited

34.

To activate Job Costing which options require to be activated?

a)

Maintain Cost Centre

b)

Use Cost Centre for Job Costing

c)

Both a & b

d)

None of these

35.

Multiple Godowns are activated from

a)

F11

b)

F11 > F1

c)

F11 > F2

d)

F11 > F3

36.

In Tally, there are _________ predefined ledgers

a)

One

b)

Three

c)

Two

d)

Four

37.

We can see list of Memorandum Vouchers from

a)

Cash/Bank Books

b)

Exception Reports

c)

Accounts Books

d)

Trail Balance

38.

To print a voucher from Tally we need to press

a)

Ctrl + P

b)

Shift + P

c)

Alt + P

d)

Ctrl + Alt + P

39.

We can see Working Capital figure changing

a)

Voucher configuration

b)

Profit & Loss configuration

c)

Balance Sheet configuration

d)

Ledger configuration

40.

Input Vat Ledger is created under which account?

a)

Duties & Taxes

b)

Sales

c)

Sales Return

d)

None of these

41.

We can create multiple users in Tally activating

a)

Tally Audit

b)

Use Security Control

c)

Both (a) and (b)

d)

None of these

42.

“Allow components list details (Bill of Materials)” option is activated for

a)

Ledgers

b)

Cost Category

c)

Stock Items

d)

Budgets

43.

Retained Earnings is an alias of

a)

Indirect Income

b)

Reserve and Surplus

c)

Capital Account

d)

Investments

44.

We can repeat narration by pressing

a)

Shift + R

b)

Alt + R

c)

Ctrl +

d)

Alt + Shift + R

45.

What is MRP?

a)

Market Price

b)

Maximum Retail Price

c)

Marginal Price

d)

Minimum Retail Price

46.

We can use Stock Journal for

a)

Production and Consumption

b)

Inter Godown transfer for stock

c)

Both (a) and (b)

d)

None of these

47.

Discount Column is available in

a)

Sales Invoice

b)

Purchase Invoice

c)

Both (a) and (b)

d)

None of these

48.

We can get the report of Interest from

a)

Account Books

b)

Cash and Fund flow

c)

Inventory Books

d)

Statements of Accounts

49.

We can cancel a voucher using

a)

Alt + X

b)

Ctrl + X

c)

Shift + X

d)

Ctrl + Shift + X

50.

To see reports of Job Work Analysis

a)

Display-Statement of a/cs

b)

Display-Statement of a/cs-Job Work Analysis

c)

Display-Statement of a/cs-CostCentre-Job work

d)

None of these

51.

for reconciliation of Bank press

a)

F12

b)

F10

c)

F5

d)

F6

52.

To create Scenario which option requires to be activated?

a)

Use Rev Journal & Optional voucher in F12

b)

Use Optional voucher in F11

c)

Use Reversing voucher in F11

d)

Use Rev journal &Optional voucher in F11

53.

Optional Voucher is one type of

a)

Conventional Voucher

b)

Unconventional Voucher

c)

Both (a) & (b)

d)

None of these

54.

TDS deduction entry can be made through

a)

Payment Voucher

b)

Journal Voucher

c)

Receipt Voucher

d)

All of these

55.

To create Purchase Order press

a)

Alt + F4

b)

Ctrl + F4

c)

F4

d)

None of these

56.

List of Optional Voucher we can get from

a)

Cash Bank Books

b)

Exceptional Reports

c)

Accounts Books

d)

Balance Sheet

57.

Input Vat Credit on Capital goods should be defined under

a)

Capital Account

b)

Current Liabilities

c)

Duties & Taxes

d)

Misc. Expenses (Assets)

58.

Single Entry mode is applicable for

a)

Receipt Voucher

b)

Contra Voucher

c)

Payment Voucher

d)

All of these

59.

Online voucher creation from Day Book report by pressing

a)

Ctrl + A

b)

Shift + A

c)

Alt + A

d)

None of these

60.

Reversing journal is a

a)

Conventional Voucher

b)

Unconventional Voucher

c)

Both (a) and (b)

d)

None of these

61.

To hide the name of the Company you need to define

a)

Security Control

b)

Tally Audit

c)

Create at least one User

d)

Tally Vault Password

62.

To declare a voucher as Post Dated press

a)

Ctrl + T

b)

Alt + T

c)

Ctrl + P

d)

Ctrl + D

63.

We can switch from Accounting Voucher to Inventory Voucher pressing

a)

F2

b)

Alt +F1

c)

Ctrl + F1

d)

F11

64.

Goods returning to a Creditor after challan but before bill we need to pass

a)

Debit Note

b)

Receipt Note

c)

Rejection Out

d)

Rejection In

65.

Branch / Division is a group defined under

a)

Liabilities

b)

Assets

c)

Income

d)

Expenditure

66.

To use Dr/Cr instead of To/By during Voucher entry or vice versa, Press

a)

F10

b)

F12

c)

F11

d)

None of these

67.

Recording of actual stock as physically verified or counted is done through

a)

Journal

b)

Stock Journal

c)

Physical Stock

d)

Sales

68.

Service Tax Report can be seen from

a)

Display > Day Book

b)

Display > Account Books

c)

Display > Statutory Masters

d)

Display > Statutory Reports

69.

Payroll Auto fill is done through

a)

Ctrl + A

b)

Alt + A

c)

Ctrl + B

d)

Alt + B

70.

To get Payroll Reports choose

a)

Gateway of Tally > Display

b)

Gateway of Tally > Display > Statement of Accounts

c)

Gateway of Tally > Display > Statement of Payroll

d)

Gateway of Tally > Display > Payroll Reports

71.

What is the full form of TCS?

a)

Tax Collected by Staff

b)

Tax Consumption at Source

c)

Tax Collected at Source

d)

Tax Collected from Sales

72.

The shortcut used for Sales Order is

a)

Alt+F4

b)

Alt+F5

c)

Alt+F7

d)

Alt+F8

73.

Budget represents ........................

a)

Estimation

b)

Forecasting

c)

Assumption

d)

All of these

74.

Find out which is not a Default Ledger in Tally

a)

Cash in Hand

b)

Capital Account

c)

Profit & Loss

d)

None of these

75.

The Profit & Loss statement can be displayed in----------------format(s).

a)

Horizontal

b)

Vertical

c)

A or B

d)

None of the above

76.

Default ledger accounts in tally are ______

a)

Balance sheet & profit & loss profit & loss and trial balance

b)

Profit & loss and trial balance

c)

Cash and profit & loss

d)

Cash and bank

77.

Default 'godown' name in tally is ____________

a)

Primary

b)

Main location

c)

A or b

d)

None of the above

78.

'Tally vault' is a _________________

a)

Security mechanism

b)

Ledger a/c

c)

Cost category

d)

None of the above

79.

To create a sales voucher in tally, you have to press _______

a)

F5

b)

F7

c)

F8

d)

F9

80.

A Group Company is-------------------------given to the merged accounts of member companies of the group.

a)

a name

b)

an identity

c)

A and B

d)

None of the above

81.

In tally you get currency symbol option from _______ menu

a)

Company creation

b)

Stock items units

c)

Regional setting

d)

None of the above

82.

------------------gives the balance for each day for the voucher type has been selected.

a)

Trial Balance

b)

Daybook

c)

Balance Sheet

d)

None of the above

83.

For 'stock journal' entry we press ______________ in tally

a)

F7

b)

Alt + F7

c)

F10

d)

F11

84.

Which option lists inventory valuation method in tally?

a)

Stock report

b)

Stock journal

c)

Stock analysis

d)

Stock summary

85.

How to activate the tally audit feature in a company?

a)

Press F11 key

b)

During the creation of a company

c)

In-comp info-> security control-option

d)

Press F12 key

86.

What is the predefined number of groups in tally?

a)

16

b)

28

c)

128

d)

228

87.

Which of the following is used for voucher entry?

a)

Ledger Account

b)

Groups

c)

Sub-Groups

d)

Depends on number of companies

88.

Which of the following user type can view audit list?

a)

Tally Vault

b)

Owner

c)

Data Entry

d)

Administrator

89.

How can data be imported in tally ?

a)

One company to another company created within Tally Package

b)

Other programs-a spreadsheet or a database file.

c)

Depends on number of companies

d)

Both A and B

90.

Which of the following file is usually used as a master file?

a)

Inventory subsidiary

b)

Cash disbursements.

c)

Cash receipts.

d)

Payroll transactions.

91.

What is the advantage of a computer-based transaction processing system?

a)

Does not require as stringent a set of internal controls.

b)

Will produce a more accurate set of financial statements.

c)

Eliminates the need to reconcile control accounts and subsidiary ledgers.

d)

Will be more efficient at producing financial statements.

92.

Which of the following can be budgeted in tally?

a)

Net Transactions

b)

Closing Balance

c)

Closing Balance

d)

A and B

93.

Which of the following can be budgeted in tally?

a)

Net Transactions

b)

Closing Balance

c)

Closing Balance

d)

A and B

94.

Which of the following shows daily balance for a selected voucher type?

a)

Daybook

b)

Trial Balance

c)

Balance Sheet

d)

None of the above

95.

Which shortcut key(s) are used to enter a stock journal in tally?

a)

F7

b)

Control + F7

c)

Alt + F7

d)

Shift + F7

96.

How many types of users are present in tally?

a)

1

b)

2

c)

3

d)

4

97.

Which shortcut key(s) are used to display list of inventory reports within balance sheet?

a)

F8

b)

F9

c)

F10

d)

F11

98.

Which of the following is the predefined stock category in tally?

a)

Primary

b)

Symbol

c)

Stock

d)

Main location

99.

Which file in tally is used to record the import activity ?

a)

Tally.dat

b)

Tally.ini

c)

Tally.imp

d)

None of the above

100.

Which of the following is compulsory to create while entry in Accounts with Inventory?

a)

Stock Groups

b)

Stock Items

c)

Units of Measure

d)

All of these

101.

‘Inventory books’ is used to view

a)

Stock Items

b)

Group Summary

c)

Both A and B above

d)

None of these

102.

Trial balance is prepared on............ basis

a)

Monthly

b)

Annually

c)

Half yearly

d)

Any of the above.

103.

A............. serves the purpose of both journal and ledger accounts

a)

Journal proper

b)

Purchase day book

c)

Cash book

d)

Any of the above

104.

The rate of trade discount varies with the-----------purchased

a)

Total asset

b)

Current asset

c)

Quantity

d)

None of these

105.

A ‘credit note’ is sent by-------------to----------------

a)

Seller, buyer

b)

Buyer, seller

c)

Customer, seller

d)

Creditor, seller

106.

A ‘Debit note’ is a statement sent to the-------------by the----------------

a)

Seller, buyer

b)

Buyer, seller

c)

Customer, seller

d)

Creditor, seller

107.

........... version of tally was introduced in 2005 to incorporate Indian VAT.

a)

7.2

b)

5.2

c)

8.1

d)

9.1

108.

In 1988--------product is renamed as Tally.

a)

Peutronics

b)

Calc

c)

Coral Softwares

d)

Vedika Softwares

109.

............... is Tally’s first multi-lingual version.

a)

7.2

b)

5.2

c)

8.1

d)

9.1

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