121. PAN stands For________
- a) Permanent Account Number
- b) Personal Account Number
- c) Permanent Account Notification
- d) None Of These
Answer: A - PAN stands for Permanent Account Number, a 10-character alphanumeric identifier issued by Income Tax Department for taxpayers in India.
122. Maintain Cost Center Is Under________
- a) F10
- b) F2
- c) F1
- d) NONE
Answer: C - Maintain Cost Center option is enabled under F1 (Accounting Features) → Cost Centers configuration for departmental tracking.
123. Payroll Autofill Button Is________
- a) Alt + A
- b) CTRL + B
- c) SHIFT + B
- d) NONE
Answer: A - Alt + A is the autofill shortcut key in Payroll voucher that automatically populates employee details, salary structures, and attendance entries.
124. How Many Types Of Company Password________
Answer: A - Tally has 2 types of company passwords: Security Control Password (for company access) and TallyVault Password (for data encryption).
125. 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.
126. Inventory Means________
- a) LEDGER
- b) GODOWN
- c) NONE OF THESE
- d) STOCK
Answer: D - Inventory means Stock, which includes raw materials, work-in-progress, finished goods, and trading goods held for business operations.
127. If You Want to Use Import and Export System Which Feature Should Be Used?
- a) Company feature
- b) Company configuration
- c) Company Info
- d) None of these
Answer: B - Import and Export system is accessed through Company Configuration, which allows data migration between different company setups.
128. Physical Stock Journal Voucher________
- a) Alt + F10
- b) Alt + F4
- c) F6
- d) Shift + F5
Answer: A - Alt + F10 is the shortcut key for Physical Stock Journal Voucher, used to record physical stock verification and stock adjustments.
129. Backup Option Is Under________
- a) COMPANY INFO
- b) GATEWAY OF TALLY
- c) DISPLAY
- d) NONE OF THESE
Answer: A - Backup option is available under COMPANY INFO → Backup menu (Gateway of Tally → Company Info → Backup).
130. Delivery Note Voucher________
- a) Alt + F8
- b) F4
- c) Alt + F6
- d) F5
Answer: A - Alt + F8 is the shortcut key for Delivery Note Voucher, used for recording goods dispatch without invoice.
131. 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.
132. How Many Default Account Groups in Tally?
- a) 10 groups
- b) 20 groups
- c) 28 groups
- d) 36 groups
Answer: C - Tally has 28 default account groups including Current Assets, Fixed Assets, Current Liabilities, Capital Account, etc.
133. If You Want To Create Blank Value Voucher, Then Activate________
- a) Blank valued entries
- b) Zero valued entries
- c) Null valued entries
- d) Amount does not allow
Answer: B - To create blank value vouchers (zero amount), activate "Zero valued entries" option in Accounting Features (F1).
134. During Stock Journal Can We Display Stock Status?
- a) YES
- b) NO
- c) BOTH
- d) NONE
Answer: A - YES, during Stock Journal entry we can display Stock Status to check available stock quantities before making transfers.
135. How to activate inclusion of zero balance ledger in opening trial balance?
- a) Master > Chart of Accounts > GL
- b) Setup > Chart of Accounts
- c) Company > Options > General
- d) None of these
Answer: C - Activate inclusion of zero balance ledger in opening trial balance from Company → Options → General settings.
136. From which menu you will see budget variance statement?
- a) Setup
- b) View
- c) Activities
- d) Reports
Answer: D - Budget variance statement is accessed from Reports menu (Gateway of Tally → Reports → Budget Variance).
137. PLC is stands for __________
- a) Permanent Ledger List
- b) Permanent Local Cheque
- c) Purchase Local - Cash/Cheque
- d) None of these
Answer: C - PLC stands for Purchase Local - Cash/Cheque, a voucher type used for recording local purchase transactions with cash or cheque payment mode.
138. From which menu you will take your backup data?
- a) Setup
- b) Company
- c) Edit
- d) Activities
Answer: B - Backup data is taken from Company menu (Gateway of Tally → Company Info → Backup).
139. From which option you have to pass cash withdrawal entry?
- a) Receipts
- b) Deposits
- c) Payments
- d) Withdrawal
Answer: D - Cash withdrawal entry is passed using Withdrawal option (Contra voucher F4 or Cash Withdrawal document).
140. The shortcut key to open Enter Document window is__________
- a) F2
- b) F6
- c) F12
- d) F10
Answer: B - F6 is the shortcut key to open Enter Document window in Tally for document entry and configuration.