Module 3 : Using Accounting Software
1 What type of software is Tally?
A Accounting Software
B Application Software
C Language Translator
D System Software
2 What is the purpose of financial management feature in Tally?
A Importing and exporting data
B For stock transfer
C To get daily balances and Transaction value
D To prepare purchase records
3 Which area in Tally screen provides quick access to different options?
A Button bar
B Calculator
C Product info
D Work area
4 Which is prepared to ascertain actual profit or loss of the business?
A Balance sheet
B Book-keeping
C Profit and loss account
D Trading account
5 What is meant by current date in Tally?
A Calendar date
B Last voucher date
C Last worked date
D System date
6 Which are the things and properties for resale that converts into cash?
A Current assets
B Business Transaction
C Liabilities
D Purchase
7 Who receives benefits without giving money immediately but liable to pay in future?
A Creditor
B Debtor
C Owner
D Worker
8 Which function key is used to record fund transfer between cash and bank account?
A F4
B F5
C F6
D F7
9 Which document is issued by the receiver of cash to the giver of cash acknowledging the cash received voucher?
A Ledgers
B Journals
C Receipts
D Vouchers
10 What is a summarized record of all the transactions to every person, every property and every type of service?
A Account
B Journals
C Ledgers
D Vouchers
11 Which is the main book of final entry for accounts?
A Balance sheet
B Ledger
C Receipts
D Vouchers
12 What is termed as excess of credit side total amount over debit side total amount in profit and loss account?
A Credit
B Debit
C Loss
D Profit
13 Which book is used to record transactions relating to return of goods to suppliers?
A Purchase Book
B Purchase Return Book
C Sales Book
D Sales Return Book
14 Which is a statement of assets and liabilities?
A Balance sheet
B Journals
C Ledgers
D Trial balance
15 Which accounting system is incomplete and unscientific?
A Double Entry System
B Single Entry System
C Triple Entry System
D Multi Entry System
16 What is the rule for real account?
A Debtor the receiver, Creditor the giver
B Debtor the giver, Creditor the receiver
C Debit comes in, Credit goes out
D Debit goes out, Credit comes in
17 Which shortcut key is used to activate calculator in Tally?
A Ctrl + C
B Ctrl + M
C Ctrl + N
D Ctrl + T
18 Which activity in Tally is used to find out the financial position of the organisation?
A Balance sheet
B Book-keeping
C Trading
D Profit and loss
19 What is referred to as buying and selling of goods?
A Normal account
B Real account
C Profit and loss account
D Trading account
20 Which factor determines the cost of the product?
A Direct cost
B Elements of cost
C Indirect cost
D Standard cost
21 What is the shortcut key to export the report in ASCII, SDF, HTML or XML format?
A Alt + C
B Alt + D
C Alt + E
D Alt + X
22 Who gives benefits without receiving money, but will claim in future?
A Creditor
B Debtor
C Owner
D Worker
1 Which is the ledger grouping for bills receivable in Tally ERP9?
A Fixed asset
B Current asset
C Direct expenses
D Indirect expenses
2 What is the purpose of financial management feature in Tally?
A Handles different types of vouchers
B Allows importing and exporting data
C Provides budgeting option
D Provides option for data backup
3 What is the purpose of Inventory Management Feature in Tally?
A Provides option for data backup
B Provides all relevant information for any stock item in a single screen
C Provides daily balance and transaction value
D Provides option to upload reports on the website directly
4 What is the purpose of security feature in Tally?
A Provides budget option
B Provides option for data backup
C Provides option to upload reports
D Provides statement of accounts
5 Which term is used for receiving aspects of a transaction?
A Credit
B Debit
C Profit
D Receipt
6 What is the purpose of Tally audit feature in Tally ERP 9?
A Allows easy analysis of result / reports with graphical values
B Allows statutory reporting for VAT, CST, TCS, TDS, FBT, GST
C Allows splitting of company data into multiple compaines
D Verify, validate and accept accounting information
7 Which combination of key is used to change the financial period in Tally?
A F2
B Alt + F2
C Ctrl + F2
D Shift + F2
8 Which combination of key is used to open “Tally Reference Manual”?
A Alt + H
B Alt + M
C Alt + R
D Alt + T
9 Which function of key is used the list / select a company in Tally?
A F1
B F3
C F5
D F7
10 Where does the transactions are entered, before taken to the appropriate ledger account?
A Balance sheet
B Journals
C Receipts
D Vouchers
11 Which term is used for the amount invested for starting a business by a person?
A Asset
B Capital
C Debit
D Liabilities
12 What is the purpose of Technological feature in Tally?
A Allows importing and exporting data
B Flexible units of measure
C Provides budgeting option
D Provides option for data backup
13 Which term is used for giving aspect of a transaction?
A Credit
B Debit
C Journal
D Voucher
14 Which term is used for all the amounts payable by a business concern to outsiders?
A Assets
B Capitals
C Debits
D Liabilities
15 Which is a statement of all the ledger account balance prepared at the end of particular period to verify the accuracy of the entries?
A Journals
B Receipts
C Trial Balance
D Vouchers
16 What is the purpose of Ctrl + Q key is the Gateway of Tally screen?
A Close the tally screen
B Quit tally current screen
C Exit with confirmation
D Exit without confirmation
17 What is the purpose of Alt + W key in Tally?
A Change the financial period
B Invoke Tally Reference Manual
C Open default web browser
D Exist Tally without confirmation
18 Which combination of function key is used to open inventory voucher’s entry menu?
A Alt + F1
B Alt + F3
C Alt + F5
D Alt + F7
19 Which combination of key is used to save the information in Tally?
A Ctrl + A
B Ctrl + I
C Ctrl + S
D Ctrl + X
20 Which shortcut key is used to shut a company from the gateway of Tally screen?
A Alt + F1
B Alt + F3
C Alt + F5
D Alt + F7
21 Which register is used to post the journal entries periodically?
A Bill book
B Cash book
C Ledger
D Trial balance
22 Which sequence of option is used to view the trial balance on the screen?
A Gateway of Tally →Trial balance
B Gateway of Tally → Display → Trial Balance
C Gateway of Tally → Accounts Info → Trial Balance
D Geteway of Tally → Display → Account Book → Trial balance
23 Which report displays the summary of all the cost centres under a cost category?
A Category summary
B Cost centre Break-up
C Group Break-up
D Ledger break-up
24 Which function key is used to enter purchase?
A F6
B F7
C F8
D F9
25 Which function key is used to enter receipts?
A F2
B F4
C F6
D F8
26 Which shortcut key is used to open debit Note Voucher?
A Alt + F9
B Alt + F10
C Ctrl + F9
D Ctrl + F10
27 Which shortcut key is used to remove a line in a report in report screen?
A Alt + I
B Alt + R
C Alt + S
D Alt + X
28 Which feature offers a parallel classification of stock item?
A Stock categories
B Stock group
C Stock item
D Stock query
29 Which budget is prepared for a very short period?
A Current budget
B Long term budget
C Rolling budget
D Short term budget
30 Which ratio evaluate the availability of cash to pay debit?
A Activity ratio
B Debit ratio
C Liquidity ratio
D Market ratio
31 Which function key is used to enter payment?
A F3
B F5
C F7
D F9
32 Which report displays ledgers and group summary information for the selected cost centre?
A Category summary
B Cost centre Break-up
C Ledger break-up
D Group Break-up
33 Which name indicates the decreasing value of an Asset?
A Current asset
B Depreciation
C Indirect expenses
D Sundry debitor
34 Which shortcut key is used to cancel a voucher in Day book / List of vouchers in Tally?
A Alt + D
B Alt + I
C Alt + S
D Alt + X
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