MCQOPTIONS
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MCQOPTIONS
This section includes 2995 Mcqs, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 2201. |
Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally? |
| A. | Journal |
| B. | Payment |
| C. | Contra |
| D. | Receipt |
| Answer» C. Contra | |
| 2202. |
for reconciliation of Bank press |
| A. | F12 |
| B. | F10 |
| C. | F5 |
| D. | F6 |
| Answer» D. F6 | |
| 2203. |
How to activate the tally audit feature in a company? |
| A. | Press F11 key |
| B. | During the creation of a company |
| C. | In -comp info -> security control-option |
| D. | Press F12 key |
| Answer» C. In -comp info -> security control-option | |
| 2204. |
A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him? |
| A. | Going concern |
| B. | Cost |
| C. | Accrual |
| D. | Money measurement |
| Answer» D. Money measurement | |
| 2205. |
Which option is used to move from one company to another when more than one companies are open? |
| A. | Company Info. |
| B. | Shut Company |
| C. | Select Company |
| D. | Company |
| Answer» C. Select Company | |
| 2206. |
How many type of companies can be created in Tally? |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| Answer» B. 3 | |
| 2207. |
Small items like, pencils, pens, files, etc. are written off within a year according to _concept. |
| A. | Materiality |
| B. | consistency |
| C. | Conservatism |
| D. | Realization |
| Answer» B. consistency | |
| 2208. |
In order to delete a voucher, press |
| A. | Alt + D |
| B. | Alt + F4 |
| C. | Alt + F3 |
| D. | None of the above |
| Answer» B. Alt + F4 | |
| 2209. |
. Which of the following can be budgeted in tally? |
| A. | Net Transactions |
| B. | Closing Balance |
| C. | Closing Balance |
| D. | A and B |
| Answer» E. | |
| 2210. |
How many voucher types area readily available in Tally? |
| A. | 18 |
| B. | 16 |
| C. | 20 |
| D. | 28 |
| Answer» B. 16 | |
| 2211. |
If nothing is given in the financial statements about the three accountingassumptions then it is to be treated as it |
| A. | Is assumed that it is not followed |
| B. | Is assumed to be followed |
| C. | Is assumed to be followed to some extent |
| D. | None of the above |
| Answer» C. Is assumed to be followed to some extent | |
| 2212. |
Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is ______ nature and profit on sale is |
| A. | Capital & transferred to capital reserve |
| B. | Revenue & transferred to P & L a/c c) |
| C. | Capital & transferred to P & L a/c |
| D. | Revenue & tr |
| Answer» E. | |
| 2213. |
Which shortcut key is used to view configure in Tally? |
| A. | F10 |
| B. | F11 |
| C. | F12 |
| D. | Alt+F9 |
| Answer» D. Alt+F9 | |
| 2214. |
Which voucher type is used to transfer amount from one bank to another? |
| A. | Contra |
| B. | Payment |
| C. | Receipt |
| D. | Post-Dated |
| Answer» B. Payment | |
| 2215. |
In which voucher type credit sales is recorded in Tally? |
| A. | F5: Payment |
| B. | F6: Receipt |
| C. | F7: Journal |
| D. | F8: Sales |
| Answer» D. F8: Sales | |
| 2216. |
Which shortcut key is used in ‘Company Feature’s screen to use Accounting Features inTally? |
| A. | F1 |
| B. | F2 |
| C. | F3 |
| D. | F4 |
| Answer» E. | |
| 2217. |
Which shortcut key is pressed to go to company Info. Menu from Gateway of Tally? |
| A. | Alt+F4 |
| B. | Alt+F2 |
| C. | Alt+F1 |
| D. | Alt+F3 |
| Answer» E. | |
| 2218. |
The policy of anticipate no profit and provide for all possible losses arise due tothe concept of _____ |
| A. | Consistency |
| B. | Disclosure |
| C. | Conservatism |
| D. | Matching |
| Answer» D. Matching | |
| 2219. |
How many voucher types are provided in Tally to record transactions? |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| Answer» C. 4 | |
| 2220. |
Which file in tally is used to record the import activity? |
| A. | Tally.dat |
| B. | Tally.ini |
| C. | Tally. Imp |
| D. | None of the above |
| Answer» B. Tally.ini | |
| 2221. |
Which key is pressed to go to Gateway of Tally from company Info. Menu? |
| A. | Ctrl |
| B. | Alt |
| C. | Esc |
| D. | Enter |
| Answer» D. Enter | |
| 2222. |
With how many types ledger, group and voucher types can be created in Tally? |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| Answer» B. 3 | |
| 2223. |
Which shortcut key is pressed and then ‘yes’ is given in “Use Debit/Credit Noted” to postentry in Credit Note and Debit Note in Tally? |
| A. | Alt+F11 |
| B. | F11 |
| C. | F12 |
| D. | Alt+F12 |
| Answer» C. F12 | |
| 2224. |
A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated? |
| A. | Money measurement |
| B. | Conservatism |
| C. | Consistency |
| D. | None of these |
| Answer» C. Consistency | |
| 2225. |
The debts, which are to be repaid within a short period (year or less) are known as |
| A. | Current liabilities |
| B. | Fixed liabilities |
| C. | Contingent liabilities |
| D. | All of the above |
| Answer» B. Fixed liabilities | |
| 2226. |
Which submenu is used to create new ledgers, groups and voucher types in Tally? |
| A. | Account Info. |
| B. | Inventory Info. |
| C. | Accounting Vouchers |
| D. | Inventory Vouchers |
| Answer» B. Inventory Info. | |
| 2227. |
M/s Stationery Mart will debit the purchase of stationery to _______ |
| A. | Purchases A/c |
| B. | General Expenses A/c |
| C. | Stationery A/c |
| D. | None |
| Answer» B. General Expenses A/c | |
| 2228. |
Which file in tally is used to record the import activity ? |
| A. | Tally.dat |
| B. | Tally.ini |
| C. | Tally.imp |
| D. | None of the above |
| Answer» C. Tally.imp | |
| 2229. |
Diwali advance given to an employee is |
| A. | Revenue Expenditure |
| B. | Capital Expenditure |
| C. | Deferred Revenue Expenditure |
| D. | Not an Expenditure |
| Answer» E. | |
| 2230. |
Which shortcut key is used to shut opened company in Tally? |
| A. | F1 |
| B. | Alt+F1 |
| C. | F3 |
| D. | Alt+F3 |
| Answer» C. F3 | |
| 2231. |
Which option is used to open company created in Tally? |
| A. | Create Company |
| B. | Alter |
| C. | Select Company |
| D. | Shut Company |
| Answer» D. Shut Company | |
| 2232. |
Which of the following is the predefined stock category in tally? |
| A. | Primary |
| B. | Symbol |
| C. | Stock |
| D. | Main location |
| Answer» B. Symbol | |
| 2233. |
The Convention of Conservatism takes into account |
| A. | All prospective profits and prospective losses. |
| B. | All prospective profits and leaves out prospective losses. |
| C. | All prospective losses but leaves out prospective profit. |
| D. | None of these. |
| Answer» D. None of these. | |
| 2234. |
Which shortcut key is used for Select Company in Tally? |
| A. | F1 |
| B. | Alt+F1 |
| C. | F3 |
| D. | Alt+F3 |
| Answer» D. Alt+F3 | |
| 2235. |
Which shortcut key is used in ‘Company Features’ screen to use Inventory Features inTally? |
| A. | F1 |
| B. | F2 |
| C. | F3 |
| D. | F4 |
| Answer» C. F3 | |
| 2236. |
------------------ gives the balance for each day for the voucher type has been selected. |
| A. | Trial Balance |
| B. | Daybook |
| C. | Balance Sheet |
| D. | None of the above |
| Answer» C. Balance Sheet | |
| 2237. |
Human resources will not appear in the balance sheet according to ______concept. |
| A. | Accrual |
| B. | Going concern |
| C. | Money measurement concept |
| D. | None |
| Answer» D. None | |
| 2238. |
Which menu is used to create new ledgers, groups and voucher types in Tally? |
| A. | Reports |
| B. | Import |
| C. | Transactions |
| D. | Masters |
| Answer» E. | |
| 2239. |
How can data be imported in tally? |
| A. | One company to another company created within Tally Package |
| B. | Other programs - a spreadsheet or a database file. |
| C. | Depends on number of companies |
| D. | Both A and B |
| Answer» E. | |
| 2240. |
Which option from Company Info. menu is selected to create a new Company in Tally? |
| A. | Company Create |
| B. | Create Company |
| C. | Create |
| D. | New Company |
| Answer» C. Create | |
| 2241. |
If wages are paid for construction of business premises ______ A/c is credited and _A/c isdebited. |
| A. | Wages, Cash |
| B. | Premises, Cash |
| C. | Cash, Wages |
| D. | Cash, Premises |
| Answer» E. | |
| 2242. |
Debit Note is used for |
| A. | Sales Return |
| B. | Purchase Return |
| C. | Purchase Return only |
| D. | None of the above |
| Answer» C. Purchase Return only | |
| 2243. |
Where do we record cash sales in Tally? |
| A. | Contra |
| B. | Receipt |
| C. | Payment |
| D. | Journal |
| Answer» E. | |
| 2244. |
Rs.10, 000 withdrawn from State Bank. In which voucher type this transaction will berecorded? |
| A. | Payment |
| B. | Receipt |
| C. | Contra |
| D. | Post-Dated |
| Answer» D. Post-Dated | |
| 2245. |
Which shortcut key is used to change current period in Tally? |
| A. | F2 |
| B. | Alt+F2 |
| C. | F3 |
| D. | Alt+F3 |
| Answer» C. F3 | |
| 2246. |
Which accounting concept specifies the practice of crediting closing stock to the tradingaccount? |
| A. | Cost |
| B. | Realization |
| C. | Going concern |
| D. | Matching |
| Answer» E. | |
| 2247. |
Consistency with reference to application of accounting procedures means |
| A. | All companies in the same Industry should use identical accounting procedures |
| B. | Income & assets have not been overstated |
| C. | Accounting methods & procedures shall be followed uniform basis year after year |
| D. | Any accounting method can be followed as per convenience |
| Answer» D. Any accounting method can be followed as per convenience | |
| 2248. |
In which voucher type credit purchase entry is posted in Tally? |
| A. | F5: Payment |
| B. | F7: Journal |
| C. | F9: Purchase |
| D. | F6: Receipt |
| Answer» D. F6: Receipt | |
| 2249. |
Amount spent to increasing the earning capacity is a ______ expenditure |
| A. | Capital |
| B. | Revenue |
| C. | Deferred revenue |
| D. | Capital Loss |
| Answer» B. Revenue | |
| 2250. |
Which ledger is created by Tally automatically as soon as we create a new company? |
| A. | Cash |
| B. | Profit & Loss A/c. |
| C. | Capital A/c. |
| D. | A and B both |
| Answer» E. | |