1. ________ ledger is used to create TAX
- a) Purchase A/C
- b) Sales A/C
- c) Sales Tax
- d) VAT
Answer: C - Sales Tax ledger is specifically used to create and manage tax entries in Tally. Purchase A/C and Sales A/C are transaction ledgers, while VAT is a type of tax itself.
2. Alt + F2 Shortcut Is Used For_______
- a) Change Period
- b) Company Creation
- c) Accounting Vouchers
- d) Display
Answer: A - Alt + F2 is the shortcut key to change the accounting period/date range in Tally. Company Creation uses Alt+F3, Accounting Vouchers use F4-F9 keys.
3. Analysis Category does support maximum of _______ levels.
- a) 2 levels
- b) 5 levels
- c) 7 levels
- d) 9 levels
Answer: B - In Tally, Analysis Categories support up to 5 levels of hierarchical classification for detailed reporting and analysis.
4. Cash withdrawn from Bank - the document type we use to pass this entry is_______
- a) Cash Deposit
- b) Bank Deposit
- c) Cash Transfer
- d) Cash Withdrawal
Answer: D - Cash Withdrawal voucher (or Contra voucher F4) is used to record cash taken out from bank. Cash Deposit is opposite, Cash Transfer is for bank-to-bank transfers.
5. Enable Tax Collected At Source Option Is Under_______
- a) F1
- b) F2
- c) F3
- d) NONE
Answer: C - TCS is enabled under F3 (Company Features) → Statutory & Taxation → Enable Tax Collected at Source.
6. Enable Tax Deducted At Source Option Is Under_______
- a) F1
- b) F2
- c) F3
- d) NONE
Answer: C - TDS is enabled under F3 (Company Features) → Statutory & Taxation → Enable Tax Deducted at Source.
7. Enable Value Added Tax Option Is Under_______
- a) F1
- b) F2
- c) F3
- d) NONE
Answer: C - VAT is enabled under F3 (Company Features) in the Statutory & Taxation section for states where VAT applies.
8. Ex-NGN does support maximum financial duration of a company_______
- a) 12 months
- b) 18 months
- c) 24 months
- d) None of these
Answer: B - Ex-NGN (Excise for Non-GST Nation) supports company financial duration up to 18 months maximum.
9. Follow Excise Rules For Invoicing Is Under_______
- a) F11
- b) F10
- c) F3
- d) NONE
Answer: C - Follow Excise Rules for Invoicing option is available under F3 (Company Features) → Statutory & Taxation → Excise Details.
10. Form 16A Is A Statement Of TDS Which Is Applied For_______
- a) Salaried person
- b) Non Salaried person
- c) Director
- d) Managing Director
Answer: B - Form 16A is issued for TDS on non-salaried payments like interest, commission, rent, etc. Form 16 is for salaried employees.
11. You have to create standard narration_______
- a) Press Ctrl + R
- b) Setup > Narration
- c) Press F2
- d) None of these
Answer: B - Standard narration is created through Setup menu → Narration path in Tally, allowing predefined narratives for voucher entries.
12. From under which group you have to create sundry debtors subgroup?
- a) Assets
- b) Current assets
- c) Liabilities
- d) Fixed assets
Answer: B - Sundry Debtors is created under Current Assets group because debtors represent amount receivable within one year (current asset).
13. From which Menu you can create charges?
- a) Edit
- b) Activities
- c) Setup
- d) View
Answer: C - Charges like freight, insurance, discount, etc. are created from Setup menu → Statutory & Taxation → Tax/Charges.
14. From which Menu you can create voucher entry?
- a) Setup
- b) Edit
- c) Activities
- d) View
Answer: C - Voucher entries are created from Activities menu (Gateway of Tally → Accounting Vouchers → select voucher type).
15. From which menu you have to create custom field?
- a) Setup
- b) Activities
- c) View
- d) Company
Answer: A - Custom fields (UDF - User Defined Fields) are created from Setup menu → Custom Fields in Tally for additional data capture.
16. From which menu you have to create register column?
- a) company
- b) Edit
- c) Setup
- d) Activities
Answer: C - Register columns (customizing report columns) are created/modified from Setup menu → Configure Column.
17. From which Menu you will see profit & loss report?
- a) Setup
- b) Reports
- c) Activities
- d) Company
Answer: B - Profit & Loss report is accessed from Reports menu (Gateway of Tally → Reports → Profit & Loss A/c).
18. From which menu you will see supplier reports?
- a) activities
- b) Setup
- c) Company
- d) Reports
Answer: D - Supplier reports (like Sundry Creditors, Purchase Register) are available under Reports menu → Inventory/Accounts Books.
19. Full form of MBP_______
- a) Multiple Bank payable
- b) Multiple Bank Payment
- c) Multiple Bank Purchase
- d) none of these
Answer: B - MBP stands for Multiple Bank Payment, a feature allowing payments through multiple bank accounts in a single transaction.
20. How many bank ledger can be selected in Multiple Bank Payment Document_______
- a) 1
- b) 2
- c) Unlimited
- d) None of these
Answer: A - In Multiple Bank Payment Document, only ONE bank ledger can be selected for processing multiple payment entries.