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Quiz
Q. 1   Where does single entry mode apply in voucher ?

All of these

Q. 2   To change the date, shortcut used

F2

Q. 3   TDS deduction entry can be made through

Journal Voucher (3)

Q. 4   GST was implemented in India from

1st July 2017

Q. 5   The number of structures in India’s GST model is ?

4

Q. 6   For Export of Data from Company to Company Tally uses

XML Format

Q. 7   To get Payroll Reports choose

Gateway of Tally > Display > Payroll Reports

Q. 8   What is the predefined number of groups in tally ?

28

Q. 9   Which option is used to view Stock Items or Group Summary ?

Inventory Books

Q. 10   Which file in tally is used to record the import activity ?

Tally.ini

Q. 11   To declare a voucher as post dated press

Ctrl + T

Q. 12   Can we allow Expenses/Fixed Assets in Purchase vouchers ?

Yes

Q. 13   Which option lists inventory valuation method in tally ?

Stock summary

Q. 14   _____ is the shortcut to company info from Gateway of Tally.

Alt + F3

Q. 15   Which group [Under] should be selected for TDS on Professional or Technical Services A/C ?

Duties & Taxes

Q. 16   Supply of goods to or by a Special Economic Zone

CGST + UTGST

Q. 17   Online voucher creation from Day Book report by pressing

Alt + A

Q. 18   Details of outward supply shall be furnished in

GSTR-1

Q. 19   SGST is applicable when

Goods are sold within a state

Q. 20   Where location of the supplier and place of supply are in a State and a Union territory

IGST is applicable

Q. 21   The highest GST rate applicable now is

28%

Q. 22   Composite tax is applicable for dealer with turnover upto

Rs. 1 Crore

Q. 23   Under GST law, tax rates are determined by

GST Council

Q. 24   The lowest tax rate under GST is

0.25%

Q. 25   Dealers whose annual turnover between Rs. 1.5 crore and Rs. 5 crore need to use

Two-digit HSN code

Q. 26   Goods which are used or intended to be used in the course or furtherance of business are

Capital goods

Q. 27   Under GST, 'value addition' refers to

Expenses 'plus' profit

Q. 28   Which option is used in Tally to close opened Company ?

Shut Company

Q. 29   We can create multiple users in Tally activating

Use Security Control

Q. 30   The shortcut used to activate calculator is

Ctrl + N

Q. 31   What is MRP ?

Maximum Retail Price

Q. 32   Transfer of materials from one godown to another godown, use

Stock Journal

Q. 33   Which shortcut key is used to view configure in Tally ?

F12

Q. 34   In which voucher type credit purchase entry is posted in Tally ?

F9:Purchase

Q. 35   Bank OCC a/c is a group defined under

Loan & Liability

Q. 36   ETCS means

Electronic Tax Collected at Source

Q. 37   Which shortcut key is used for Select Company in Tally ?

F3

Q. 38   ___ is the shortcut to purchase voucher from Accounting Vouchers in Tally.

F9

Q. 39   F12 is known as

Company configuration

Q. 40   Find out which is not a Default Ledger in Tally.

Capital Account

Q. 41   ___ gives the balance for each day for the voucher type has been selected.

Daybook

Q. 42   ___ is the shortcut to create contra voucher in Tally.

F4

Q. 43   Which key is pressed to go to Gateway of Tally from company Info. Menu ?

Esc

Q. 44   ___ is the shortcut to stock journal from inventory Vouchers in Tally.

Alt + F7

Q. 45   Which option is used to make changes in created Groups of Ledgers in Tally ?

Alter

Q. 46   To hide the name of the Company you need to define

Tally Vault Password

Q. 47   Which option is used to exit Tally ?

Quit

Q. 48   Which option is used in Tally to make changes in created company ?

Alter

Q. 49   Which of the following is not compulsory to create while entry in Accounts with Inventory ?

Stock Categories

Q. 50   To create a sales voucher in tally, you have to press ___

F8

Q. 51   BOM represents

Bill of Materials

Q. 52   Which menu appears after starting Tally for the first time ?

Company Info

Q. 53   Party account can be created through

Ledger creation window

Q. 54   To activate Job Costing which options require to be activated ?

Both (Maintain Cost Centre) and (Use Cost Centre for Job Costing)

Q. 55   ___ is the shortcut to change the accounting period from Gateway of Tally.

Alt + F2

Q. 56   The tax collected by the seller from the buyer is generally called

Tax Collected at Source (TCS)

Q. 57   TDS is applied on which of the following incomes ?

All of these

Q. 58   The tax collected by the employer towards income of an employee is called

Tax Deducted at Source (TDS)

Q. 59   ___ is a record of all monetary transactions.

Account

Q. 60   Which option is used to copy company's data into pen drive or cd ?

Backup

Q. 61   Stock maintained for production purpose is called

Inventory

Q. 62   Where do we record credit purchase of furniture in Tally ?

Journal

Q. 63   Which ledger is created by Tally automatically as soon as we create a new company ?

Both (Profit & Loss A/c) and (Cash)

Q. 64   A Debit note is a statement sent to the __ by the __

Seller, buyer

Q. 65   In which voucher type credit sales is recorded in Tally ?

F8:Sales

Q. 66   ___ denotes movable or immovable property and inventory.

Asset

Q. 67   In tally you get currency symbol option from ___ menu.

Company creation

Q. 68   The shortcut key to quit from Tally is

Ctrl + Q

Q. 69   Which account is the odd one

Stock of raw materials

Q. 70   Which of the following is the example of external users of accounting information

Government

Q. 71   Which of the following is not a transaction

An employee is dismissed from the job

Q. 72   Salary Account comes under which head

Indirect Expenses

Q. 73   'Alias' represents

All of these

Q. 74   Where do we record interest received, commission received or rent received in Tally

Receipt

Q. 75   By which option Purchase or Sales register can be viewed ?

Accounts Books

Q. 76   Sales Tax Ledger falls under which Group ?

Duties and Taxes

Q. 77   Voucher class is a pre-defined voucher type that helps to

All of these

Q. 78   What is the utility of Tally Vault Password ?

Both (It will not shows the company name in the company select list) and (It will lock all voucher entries for that company)

Q. 79   Discount Column is available in

Both (Sales Invoice) and (Purchase Invoice)

Q. 80   Which of the following is the predefined stock category in tally ?

Primary

Q. 81   Recording of actual stock as physically verified or counted is done through

Physical Stock

Q. 82   Which group [Under] should be selected for TDS on Advertisement A/C ?

Duties and Taxes

Q. 83   To primarily open a report, and create masters and vouchers in the flow of work, which shortcut key is used in tally prime ?

Alt + G

Q. 84   To open the e-mail menu for sending transactions or reports, which shortcut key is used in tally prime ?

Alt + M

Q. 85   We can use Stock Journal for

Both (Production and Consumption) and (Inter Godown transfer for stock)

Q. 86   _____ gives the balance for each day for the voucher type has been selected.

Daybook

Q. 87   To open the print menu for printing transactions or reports, which shortcut key is used in tally prime ?

Alt + P

Q. 88   To open the export menu for exporting masters, transactions, or reports, which shortcut key is used in tally prime ?

Alt + E

Q. 89   Predefined Billing terms can be maintained through

Voucher Class

Q. 90   While exporting Ledgers from Tally to Web page, we use ASCII

HTML Format

Q. 91   To open Sales Order, which shortcut key is used in tally prime ?

Ctrl + F8

Q. 92   Which of the following user type can view audit list ?

Administrator

Q. 93   To open Payroll voucher, which shortcut key is used in tally prime ?

Ctrl + F4

Q. 94   Retained Earnings is an alias of

Reserve and surplus

Q. 95   Bad loans in banking terminology are generally known as

NPAs

Q. 96   Which of the following tax is not subsumed in GST

Stamp Duty

Q. 97   Tally is an _________ software.

Accounting

Q. 98   tally was developed by which company

Tally solutions Pvt. Ltd.

Q. 99   Tally was founded by ______

Shyam Sunder Goenka

Q. 100   Lastest version of tally is ______

Tally Prime

Q. 101   Tally prime launched in ______

2020

Q. 102   A Financial Year (FY) is the period between ______ and _______

1st April, 31st March

Q. 103   The full form of INR is

Indian rupees

Q. 104   Which option is not given in gateway of tally ?

Ledger

Q. 105   Which option is not given during company creation ?

Alias

Q. 106   Shortcut key for help menu in tally prime is ____

F1

Q. 107   Can we create multiple companies in tally prime ?

Yes

Q. 108   Shortcut key to open the company menu with the list of actions related to managing your company is _____

Alt + F3

Q. 109   Steps to create ledgers in tally prime is _______

Gateway of tally > create > ledger

Q. 110   Shortcut key for creating ledger during voucher entry is ______

Alt + C

Q. 111   Which ledgers already exists in tally ?

Cash, profit & loss account

Q. 112   How many groups are there in tally prime ?

28

Q. 113   Rent ledger is created under which group ?

Indirect expenses

Q. 114   ______ is a fixed assets.

Land

Q. 115   We purchase goods from kartik Bhai on credit then he is our ______

Creditor

Q. 116   We sale goods to Kunal Bhai on credit then he is our _______

Debtor

Q. 117   During sales voucher entry we choose party a/c name whose under group is ______

Sundry debtors

Q. 118   During purchase voucher entry we choose party a/c name whose under group is ______

Sundry creditors

Q. 119   If owner brings cash in business then it is called ______

Capital

Q. 120   If owner withdraws cash from business then it is called ______

Drawings

Q. 121   ________ means your Credit customer from which you have to receive money for good supplied or services rendered on credit.

Sundry debtors

Q. 122   ______ means your credit supplier to which you have to pay money for buying goods or services on credit.

Sundry creditors

Q. 123   Commission received is an ______ for us.

Indirect income

Q. 124   Rent received ledger comes under which group ?

Indirect incomes

Q. 125   how much digits are in a bank ifsc code number ?

11 digits

Q. 126   Bank's loan is our ________

Liability

Q. 127   Shortcut key for payment voucher is ______

F5

Q. 128   Payment voucher is used to account all the payments made by the company by way of ________

Cash/bank

Q. 129   What is the full form of DR in tally ?

Debit record

Q. 130   What is the full form of CR in tally ?

Credit record

Q. 131   Payment of salary must be recorded in _________ voucher.

Payment

Q. 132   Drawings by owner must be recorded in _______ voucher.

Payment

Q. 133   Payment to creditors must be recorded in _______ voucher.

Payment

Q. 134   Shortcut key for receipt voucher is ______

F6

Q. 135   When in any transaction cash or bank is debited it is recorded in ________ voucher.

Receipt

Q. 136   Brokerage received by cash or bank must be recorded in _______ voucher.

Receipt

Q. 137   Payment received from debtors must be recorded in ________ voucher.

Receipt

Q. 138   Owner brings capital in business this entry must be recorded in ________ voucher.

Receipt

Q. 139   Shortcut key for Contra voucher is ______

F4

Q. 140   Transaction that happens between _____&_____ must be recorded in Contra voucher.

Business, bank

Q. 141   If we transfer bank balance from our one bank account to another then it must be recorded in ______ voucher.

Contra

Q. 142   Cash withdrawn from bank and deposited in Bank these transactions must be recorded in _______ voucher.

Contra

Q. 143   Steps to open Contra voucher in tally prime is _________

Gateway of Tally > Vouchers > Select F4: Contra.

Q. 144   How to enable company features in tally prime ?

Press F11 from gateway of tally

Q. 145   Stock group comes under _______ head in tally prime.

Inventory masters

Q. 146   What would be formal name for the symbol KGS in unit creation ?

Kilograms

Q. 147   What would be formal name for the symbol KLR in unit creation ?

Kilolitre

Q. 148   What would be the symbol for the formal name numbers in unit creation ?

NOS

Q. 149   What would be the symbol for the formal name pieces in unit creation?

PCS

Q. 150   If my stock item is mobile phone then it's unit should be ______

NOS

Q. 151   How to create stock item in tally ?

Gateway of Tally > Create > select Stock Item.

Q. 152   In order to delete a voucher, press ______

Alt + D

Q. 153   Can we create stock item during voucher entry ?

Yes

Q. 154   How to view day book in tally prime ?

Gateway of tally > Daybook

Q. 155   Shortcut key for purchase order voucher is ______

Ctrl + F9

Q. 156   Shortcut key for sales order voucher is ______

Ctrl + F8

Q. 157   Creating price list would be useful in _______ voucher.

Sales

Q. 158   Stock journal voucher is used for __________

Stock transfer

Q. 159   Can we create multiple godowns/locations in tally prime ?

Yes

Q. 160   The full form of POS is ________

Point of sales

Q. 161   Multiple payment modes is available in POS invoicing.

True

Q. 162   do you need to create point of sales invoice voucher to use it ?

Yes

Q. 163   Where do you see cash and bank reports in tally prime ?

Gateway of Tally > Display More Reports > Account Books > Cash/Bank Book(s)

Q. 164   Where do you see sales reports in tally prime ?

Gateway of Tally > Display More Reports > Account Books > Sales Register

Q. 165   Where do you see purchase reports in tally prime ?

Gateway of Tally > Display More Reports > Account Books > purchase Register

Q. 166   IGST is payable when the supply is …………

Interstate

Q. 167   What are the tax/taxes levied on an intra-State supply ?

CGST & SGST

Q. 168   Which of the following taxes have been subsumed in GST ?

All of the above

Q. 169   GST is levied on supply of all goods and service except.....

Alcoholic liquor for human consumption

Q. 170   GST is a comprehensive tax regime covering _________

Both goods and services

Q. 171   GST Stands for

Goods and Service Tax

Q. 172   GST is __________based tax on consumption of goods and services.

Destination

Q. 173   What does 'I' Stands for in IGST ?

Integrated

Q. 174   How many types of taxes will be in indian GST ?

4

Q. 175   Full form of TCS is ________

Tax Collected at Source

Q. 176   Full form of TDS is _________

Tax Deducted at Source

Q. 177   Tax deducted at source is deemed to be the………………Of the person from whose income the tax has been deducted at source.

Income

Q. 178   If the recipient of income fails to furnish his Permanent Account Number to the person responsible for deducting the tax at source, the tax shall be deducted:

higher of the above rates

Q. 179   Tax at source will be deducted @ ………… on winnings from lotteries.

30 %

Q. 180   Stock category and stock group are same.

False

Q. 181   What are the tax/taxes levied on an interState supply ?

IGST

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