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This set of Computerized Accounting Software Multiple Choice Questions & Answers (MCQs) focuses on Computerized Accounting Software Set 5
Q1 | What is the advantage of a computer-based transaction processing system?
- Does not require as stringent a set of internal controls.
- Will produce a more accurate set of financial statements.
- Eliminates the need to reconcile control accounts and subsidiary ledgers.
- Will be more efficient at producing financial statements.
Q2 | Which of the following file is usually used as a master file?
- Inventory subsidiary
- Cash disbursements.
- Cash receipts.
- Payroll tr
Q3 | #NAME?
- Trial Balance
- Daybook
- Balance Sheet
- None of the above
Q4 | For 'stock journal' entry we press ______________ in tally
- F7
- Alt + F7
- F1
- F11
Q5 | Which option lists inventory valuation method in tally?
- Stock report
- Stock journal
- Stock analysis
- Stock summary
Q6 | How to activate the tally audit feature in a company?
- Press F11 key
- During the creation of a company
- In -comp info -> security control-option
- Press F12 key
Q7 | What is the predefined number of groups in tally?
- 16
- 28
- 128
- 228
Q8 | Which of the following is used for voucher entry?
- Ledger Account
- Groups
- Sub-Groups
- Depends on number of companies
Q9 | Which of the following user type can view audit list?
- Tally Vault
- Owner
- Data Entry
- Administrator
Q10 | How can data be imported in tally?
- One company to another company created within Tally Package
- Other programs - a spreadsheet or a database file.
- Depends on number of companies
- Both A and B
Q11 | Which of the following can be budgeted in tally?
- Net Transactions
- Closing Balance
- Closing Balance
- A and B
Q12 | Which file in tally is used to record the import activity?
- Tally.dat
- Tally.ini
- Tally. Imp
- None of the above
Q13 | Which of the following is compulsory to create while entry in Accounts with Inventory?
- Stock Groups
- Stock Items
- Units of Measure
- All of these
Q14 | ‘Inventory books’ is used to view
- Stock Items
- Group Summary
- Both A and B above
- None of these
Q15 | The rate of trade discount varies with the ----------- purchased
- Total asset
- Current asset
- Quantity
- None of these
Q16 | A ‘credit note’ is sent by------------- to ----------------
- Seller, buyer
- Buyer, seller
- Customer, seller
- Creditor, seller
Q17 | A ‘Debit note’ is a statement sent to the ------------- by the ----------------
- Seller, buyer
- Buyer, seller
- Customer, seller
- Creditor, seller
Q18 | for reconciliation of Bank press
- F12
- F10
- F5
- F6
Q19 | We can cancel a voucher using
- Alt + X
- Ctrl + X
- Shift + X
- Ctrl + Shift + X
Q20 | Discount Column is available in
- Sales Invoice
- Purchase Invoice
- Both (a) and (b)
- None of these
Q21 | We can use Stock Journal for
- Production and Consumption
- Inter Godown transfer for stock
- Both (a) and (b)
- None of these
Q22 | “Allow components list details (Bill of Materials)” option is activated for
- Ledgers
- Cost Category
- Stock Items
- Budgets
Q23 | How can we see Vat Reports?
- Gateway of Tally > Display
- Gateway of Tally > Vat Reports
- Gateway of Tally > Display > Statutory Info
- Gateway of Tally > Display> Statutory Reports
Q24 | By default, which mode is on in Purchase and Sales voucher?
- Norma Mode
- Item Invoice Mode
- Particulars Mode
- None of these
Q25 | How can data be imported in tally ?
- One company to another company created within Tally Package
- Other programs - a spreadsheet or a database file.
- Depends on number of companies
- Both A and B