31. Form 26Q is applicable for TDS deducted under section of income tax act__________
- a) 200(3)
- b) 200(4)
- c) 100(3)
- d) 104(3)
Answer: A - Form 26Q is applicable for TDS deducted under section 200(3) of Income Tax Act for non-salary payments.
32. From which menu you can upgrade the Software__________
- a) Utility
- b) Reports
- c) Query
- d) Company
Answer: A - Software upgrade option is available under Utility menu for updating to latest version.
33. Gratuity effected only__________
- a) Basic pay
- b) House rent allowance
- c) DA
- d) PF
Answer: A - Gratuity is calculated only on Basic Pay plus Dearness Allowance (if applicable), not on other allowances.
34. House rent allowance is a type of__________
- a) Pay heads
- b) Attendance
- c) Employee
- d) None of these
Answer: A - House Rent Allowance (HRA) is a type of Pay Head under employee earnings/salary structure.
35. How many default ledger in ACE__________
- a) 10
- b) 20
- c) 15
- d) 30
Answer: B - ACE accounting software has 20 default ledgers including Cash, Bank, Capital, etc.
36. How many types of attendance or production types__________
- a) 2
- b) 4
- c) 3
- d) 1
Answer: C - There are 3 types of attendance/production types: Present, Absent, and Half Day/Production Based.
37. How to create a BOM in ACE__________
- a) Utility > Production formula
- b) Masters > Products & Services > Production formula
- c) Entry > Products & Services > Production formula
- d) None of these
Answer: B - To create Bill of Material (BOM) in ACE, go to Masters → Products & Services → Production Formula.
38. How to go new financial year?
- a) Split year
- b) Split company
- c) Change financial year
- d) Change Company date
Answer: C - To move to new financial year, use Change Financial Year option in Company Info menu.
39. If PAN No is not furnish the TDS Rate is__________
- a) 1.00%
- b) 20.00%
- c) 2.00%
- d) None of these
Answer: B - If PAN is not furnished, TDS is deducted at 20% (or higher rate as per Income Tax Act).
40. Input VAT related to__________
- a) On sales
- b) On purchase
- c) Both 1 and 2
- d) None of these
Answer: B - Input VAT is VAT paid on purchases, which can be set off against Output VAT on sales.
41. Insurance defines under section _______ as per IT Act
- a) 80C
- b) 80CCD
- c) 80GGB
- d) 80GGC
Answer: A - Life Insurance premium deduction is defined under Section 80C of Income Tax Act.
42. Is required password and user when Company open in Busy__________
- a) Yes
- b) No
- c) N.A.
- d) N.A.
Answer: A - Yes, Busy accounting software requires password and username when opening a company for security.
43. Minimum Administrative charges payable per month per establishment is__________
- a) Rs 600
- b) Rs 5
- c) Rs 500
- d) Rs 50
Answer: C - Minimum EPF administrative charges payable per month per establishment is Rs 500.
44. Pay roll features are activated in__________
- a) Accounting features
- b) Inventory features
- c) Configuration
- d) None of these
Answer: A - Payroll features are activated under Accounting Features (F1 in Tally) for salary processing.
45. Payroll Autofill is used by__________
- a) Ctrl + A
- b) Alt + A
- c) Alt + Ctrl + A
- d) Shift + Ctrl + A
Answer: B - Payroll Autofill is used by Alt + A shortcut key to automatically populate employee details.
46. Payroll voucher is invoked by__________
- a) Alt + F4
- b) Ctrl + F4
- c) Alt + Ctrl + F4
- d) None of these
Answer: B - Payroll voucher is invoked by Ctrl + F4 shortcut key in Tally for salary payments.
47. Shortcut key of Calculator in Busy__________
- a) F11
- b) Alt + F1
- c) F10
- d) F12
Answer: C - F10 is the shortcut key to open Calculator in Busy accounting software.
48. Stock transfer option is under__________
- a) Transactions
- b) Utilities option
- c) Company
- d) House keeping
Answer: A - Stock transfer option is available under Transactions menu for moving stock between godowns.
49. Unit Conversion is a type of _______ unit
- a) Normal
- b) Simple
- c) Compound
- d) None of these
Answer: C - Unit Conversion is a type of Compound Unit (e.g., 1 Box = 12 Pieces).
50. User can define menu rights from__________
- a) Security Rights grouping
- b) Administration Users
- c) Security Control
- d) None of these
Answer: B - User can define menu rights from Administration → Users option for access control.
51. VAT activate from which options__________
- a) Company Creation
- b) Configuration
- c) Display
- d) House keeping
Answer: A - VAT is activated during Company Creation under Statutory & Taxation configuration.
52. VAT adjustment can be done by__________
- a) VAT computation
- b) VAT Journal
- c) Statutory Payment
- d) Journal
Answer: B - VAT adjustment can be done by VAT Journal entry for input-output tax setoff.
53. What is the type of calculation of Overtime pay__________
- a) On Attendance
- b) On Flat rate
- c) On Production
- d) User define
Answer: C - Overtime pay calculation type is On Production, based on production hours/units.
54. Where is PF Contribution by an employer @10%?
- a) Below 20 employees
- b) Above 20 Employees
- c) Below 25 employees
- d) Below 30 employees
Answer: A - PF contribution by employer @10% is applicable for establishments with Below 20 employees.
55. Which company developed and marketed Busy Win?
- a) Peutronics Pvt. Ltd.
- b) Busy Infotech Pvt. Ltd.
- c) Eastern Data Ltd.
- d) Tata Consultancy Service
Answer: B - Busy Win is developed and marketed by Busy Infotech Pvt. Ltd., an accounting software company.