Computerized Accounting With Tally Set 8
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This set of Computerized Accounting with Tally Multiple Choice Questions & Answers (MCQs) focuses on Computerized Accounting With Tally Set 8
Q1 | Which option lists inventory valuation method in tally?
- Stock report
- Stock journal
- Stock analysis
- Stock summary
Q2 | 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
Q3 | What is the predefined number of groups in tally?
- 16
- 28
- 128
- 228
Q4 | Which of the following is used for voucher entry?
- Ledger Account
- Groups
- Sub-Groups
- Depends on number of companies
Q5 | Which of the following user type can view audit list?
- Tally Vault
- Owner
- Data Entry
- Administrator
Q6 | 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
Q7 | Which of the following file is usually used as a master file?
- Inventory subsidiary
- Cash disbursements.
- Cash receipts.
- Payroll transactions.
Q8 | 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.
Q9 | Which of the following can be budgeted in tally?
- Net Transactions
- Closing Balance
- Closing Balance
- A and B
Q10 | Which of the following shows daily balance for a selected voucher type?
- Daybook
- Trial Balance
- Balance Sheet
- None of the above
Q11 | Which shortcut key(s) are used to enter a stock journal in tally?
- F7
- Control + F7
- Alt + F7
- Shift + F7
Q12 | How many types of users are present in tally?
- 1
- 2
- 3
- 4
Q13 | Which shortcut key(s) are used to display list of inventory reports within balance sheet?
- F8
- F9
- F10
- F11
Q14 | Which of the following is the predefined stock category in tally?
- Primary
- Symbol
- Stock
- Main location
Q15 | Which file in tally is used to record the import activity ?
- Tally.dat
- Tally.ini
- Tally.imp
- None of the above
Q16 | Which of the following is compulsory to create while entry in Accounts with Inventory?
- Stock Groups
- Stock Items
- Units of Measure
- All of these
Q17 | ‘Inventory books’ is used to view
- Stock Items
- Group Summary
- Both A and B above
- None of these
Q18 | Trial balance is prepared on............ basis
- Monthly
- Annually
- Half yearly
- Any of the above.
Q19 | A............. serves the purpose of both journal and ledger accounts
- Journal proper
- Purchase day book
- Cash book
- Any of the above
Q20 | The rate of trade discount varies with the ----------- purchased
- Total asset
- Current asset
- Quantity
- None of these
Q21 | A ‘credit note’ is sent by------------- to ----------------
- Seller, buyer
- Buyer, seller
- Customer, seller
- Creditor, seller
Q22 | A ‘Debit note’ is a statement sent to the ------------- by the ----------------
- Seller, buyer
- Buyer, seller
- Customer, seller
- Creditor, seller
Q23 | A trial balance is a---------
- Ledger
- Journal
- Account
- List
Q24 | What type of application software is Tally?
- Statistics package
- Spreadsheet package
- Accounting Package
- All of these
Q25 | Tally package is developed by
- Peutronics
- Tally Solutions
- Coral Softwares
- Vedika Softwares