1. Which function key is used to open the Payment voucher in Tally ERP 9?
- a) F4
- b) F5
- c) F6
- d) F7
Answer: B - F5 is the shortcut key for Payment voucher in Tally ERP 9. F4 is Contra, F6 is Receipt, and F7 is Journal.
2. What is the keyboard shortcut to save a voucher in Tally Prime?
- a) Ctrl + S
- b) Ctrl + A
- c) Alt + S
- d) F12
Answer: B - Ctrl + A is the universal shortcut to save any voucher or master entry in both Tally ERP 9 and Tally Prime.
3. Which voucher type is used for inter-bank or cash-to-bank transfers?
- a) Payment Voucher
- b) Receipt Voucher
- c) Contra Voucher
- d) Journal Voucher
Answer: C - Contra voucher (F4) is used for bank-to-bank transfers, cash-to-bank deposits, and bank-to-cash withdrawals.
4. What does the Alt + C shortcut do while entering a voucher in Tally?
- a) Close the voucher
- b) Create a new ledger on the fly
- c) Copy the voucher
- d) Cancel the entry
Answer: B - Alt + C allows users to create a new ledger master instantly without leaving the voucher entry screen.
5. Which of the following is NOT a default ledger created automatically in Tally?
- a) Cash in Hand
- b) Profit & Loss A/c
- c) Capital A/c
- d) Sales A/c
Answer: D - Tally automatically creates Cash, Profit & Loss, and Capital ledgers. Sales ledger must be created manually.
6. What is the primary objective of the double-entry system of accounting?
- a) To minimize tax liability
- b) To maintain both personal and impersonal accounts
- c) To record both debit and credit aspects of every transaction
- d) To prepare only cash transactions
Answer: C - Double-entry system requires every transaction to have equal and opposite effects in at least two different accounts (debit and credit).
7. Which shortcut key is used to delete an existing voucher in Tally?
- a) Alt + D
- b) Ctrl + D
- c) Alt + X
- d) Ctrl + X
Answer: A - Alt + D is the shortcut key to delete a voucher after displaying it in alteration mode.
8. Sales of goods on credit is recorded in which voucher?
- a) F8: Sales
- b) F9: Purchase
- c) F7: Journal
- d) F6: Receipt
Answer: A - Credit sales are recorded in Sales voucher (F8). Cash sales can also be recorded in Sales voucher or Receipt voucher.
9. What is the purpose of a Journal Voucher (F7) in Tally?
- a) Recording cash payments
- b) Recording credit purchases
- c) Recording non-cash transactions like depreciation, rectification entries
- d) Recording bank transactions
Answer: C - Journal Voucher is used for non-cash/non-bank transactions including depreciation, provisions, rectifications, and credit purchases.
10. Which financial statement shows the financial position of a business on a particular date?
- a) Trial Balance
- b) Profit & Loss Account
- c) Balance Sheet
- d) Trading Account
Answer: C - Balance Sheet shows assets, liabilities, and capital at a specific point in time, reflecting the financial position.
11. What is the shortcut key to insert a voucher between existing vouchers?
- a) Ctrl + I
- b) Alt + I
- c) F12
- d) Alt + V
Answer: B - Alt + I allows insertion of a new voucher between existing voucher numbers in Tally.
12. Purchase of office furniture on credit is recorded in which voucher?
- a) Payment Voucher
- b) Purchase Voucher
- c) Journal Voucher
- d) Contra Voucher
Answer: C - Credit purchase of fixed assets (furniture) is recorded in Journal Voucher, not Purchase Voucher (which is for trading goods).
13. Which Tally feature automatically matches bank transactions with ledger entries?
- a) Bank Reconciliation
- b) Audit Trail
- c) Ratio Analysis
- d) Cash Flow
Answer: A - Bank Reconciliation statement (BRS) feature matches bank statement transactions with Tally ledger entries to identify differences.
14. What does F12 represent in Tally ERP 9?
- a) Save voucher
- b) Configure settings
- c) Print voucher
- d) Exit Tally
Answer: B - F12 is the Configure key that opens various configuration and settings options in Tally.
15. Which accounting principle states that business is separate from its owner?
- a) Going Concern Concept
- b) Business Entity Concept
- c) Accrual Concept
- d) Consistency Concept
Answer: B - Business Entity Concept treats business as a distinct entity separate from its owners for accounting purposes.
16. What is the use of Ctrl + W in Tally Prime?
- a) Save and close
- b) Close current window
- c) Print preview
- d) Export to Excel
Answer: B - Ctrl + W closes the current active window in Tally Prime without closing the main application.
17. Which voucher is used to record cash purchases of raw materials for manufacturing?
- a) F5: Payment
- b) F9: Purchase
- c) F7: Journal
- d) F4: Contra
Answer: B - F9 Purchase voucher is used for both cash and credit purchases of goods, including raw materials for manufacturing.
18. The accounting equation is:
- a) Assets = Liabilities + Capital
- b) Assets = Liabilities - Capital
- c) Assets + Liabilities = Capital
- d) Assets + Capital = Liabilities
Answer: A - The fundamental accounting equation is Assets = Liabilities + Capital (Owner's Equity).
19. Which Tally shortcut key is used to view the report screen?
- a) Alt + R
- b) Ctrl + R
- c) F8
- d) Alt + V
Answer: B - Ctrl + R is the shortcut to view the report screen in Tally Prime and ERP 9.
20. What is the purpose of the 'Reconciliation Beginning' date in Tally?
- a) To start new financial year
- b) To set the date from which opening BRS balances are considered
- c) To configure GST start date
- d) To set voucher entry start date
Answer: B - Reconciliation Beginning date is used to set the cutoff date from which uncleared opening balances are considered for bank reconciliation.