MCQOPTIONS
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MCQOPTIONS
This section includes 478 Mcqs, each offering curated multiple-choice questions to sharpen your Computer Fundamentals knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
Accounting principles are divided into two types. These are |
| A. | Accounting concepts |
| B. | Accounting conventions |
| C. | Accounting standard |
| D. | 1 and 3 both |
| Answer» E. | |
| 102. |
Taxes paid come under which group |
| A. | Capital |
| B. | Loans and liabilities |
| C. | Direct expenses |
| D. | Duties and taxes |
| Answer» E. | |
| 103. |
Assets acquired for long term use in the business are called _________ |
| A. | Fixed assets |
| B. | Current assets |
| C. | Fictitious assets |
| D. | Liquid asset |
| Answer» B. Current assets | |
| 104. |
_______ is the major source of revenue of any business |
| A. | Investment |
| B. | Advances |
| C. | Loan |
| D. | Sales |
| Answer» E. | |
| 105. |
_____ refers the amount invested by the owner into business |
| A. | Loan |
| B. | Advance |
| C. | Capital |
| D. | Prepaid expenses |
| Answer» D. Prepaid expenses | |
| 106. |
Which of the following is not a transaction |
| A. | Goods are purchased on cash basis for rs 1000 |
| B. | Salaries paid for the month of may 2009 |
| C. | Land is purchased for rs 10 lakhs |
| D. | An employee is dismissed from the job |
| Answer» E. | |
| 107. |
A ______ is sent to the seller when he is taken back the sold goods |
| A. | Debit note |
| B. | Credit note |
| C. | Proforma invoice |
| D. | Bill |
| Answer» B. Credit note | |
| 108. |
A ______ is sent to a customer when he returns the goods |
| A. | Debit note |
| B. | Credit note |
| C. | Proforma invoice |
| D. | Bill |
| Answer» C. Proforma invoice | |
| 109. |
_____ is an example for tangible assets |
| A. | Furniture |
| B. | Debtors |
| C. | Patent |
| D. | Discount on issue of shares and debentures |
| Answer» B. Debtors | |
| 110. |
_______ is the expense which is unpaid at the end of the accounting period |
| A. | Outstanding expenses |
| B. | Prepaid expenses |
| C. | Proposed expenses |
| D. | Working capital |
| Answer» B. Prepaid expenses | |
| 111. |
The process of ascertaining the balance of a particular account on a given date is |
| A. | Posting |
| B. | Journalizing |
| C. | Balancing |
| D. | Accounting |
| Answer» D. Accounting | |
| 112. |
_______ is the book of original entry |
| A. | Journal |
| B. | Voucher |
| C. | Invoices |
| D. | Ledger |
| Answer» B. Voucher | |
| 113. |
______ is an example for long term liabilities |
| A. | Creditors |
| B. | Debentures |
| C. | Overdraft |
| D. | Bills payable |
| Answer» C. Overdraft | |
| 114. |
______ are the liabilities which are payable after a long period |
| A. | Fixed liabilities |
| B. | Miscellaneous expenditure |
| C. | Current liabilities |
| D. | Contingent liabilities |
| Answer» B. Miscellaneous expenditure | |
| 115. |
Capital is treated as liability because of |
| A. | Dual aspect concept |
| B. | Money measurement concept |
| C. | Matching concept |
| D. | Entity concept |
| Answer» E. | |
| 116. |
A trial balance is prepared |
| A. | To prepare p &l a/c |
| B. | To test the arithmetical accuracy |
| C. | For making adjustments |
| D. | To balance the a/c |
| Answer» C. For making adjustments | |
| 117. |
Drawings account is to be created by linking with |
| A. | Capital |
| B. | Current asset |
| C. | Current liability |
| D. | Drawings |
| Answer» B. Current asset | |
| 118. |
Patent account falls under |
| A. | Investments |
| B. | Liabilities |
| C. | Current assets |
| D. | None of these |
| Answer» E. | |
| 119. |
Income tax number of the company will appear in which report |
| A. | Cash/bank book |
| B. | Profit and loss a/c |
| C. | Reminder letter |
| D. | None of these |
| Answer» E. | |
| 120. |
Transfer from main cash to petty cash you require to pass__________ |
| A. | Voucher |
| B. | Payment |
| C. | Contra |
| D. | Receipt |
| Answer» D. Receipt | |
| 121. |
Predefined groups are also called as |
| A. | Main group |
| B. | Primary group |
| C. | Statutory group |
| D. | Parent group |
| Answer» D. Parent group | |
| 122. |
The options ? use common narration? and ? narration each entry? appear |
| A. | Account creation screen |
| B. | Voucher entry screen |
| C. | F11 accounting features |
| D. | Voucher type creation screen |
| Answer» D. Voucher type creation screen | |
| 123. |
Collection of ledgers of same nature is called |
| A. | Vouchers |
| B. | asset |
| C. | Group |
| D. | None of these |
| Answer» D. None of these | |
| 124. |
Integrated accounts with inventory is available in |
| A. | F12 configuration |
| B. | f11 features |
| C. | inventory info |
| D. | accounts info |
| Answer» C. inventory info | |
| 125. |
A company can be deleted only in |
| A. | Display |
| B. | alter |
| C. | delete |
| D. | Create |
| Answer» C. delete | |
| 126. |
Professionals usually maintain accounts as |
| A. | Accounts with inventory |
| B. | accounts only |
| C. | Normal accounting |
| D. | payroll accounting |
| Answer» C. Normal accounting | |
| 127. |
Vouchers can be displayed in |
| A. | Accounts info |
| B. | Day book |
| C. | inventory info |
| D. | Ledger |
| Answer» C. inventory info | |
| 128. |
Salary comes under __________ Head |
| A. | Direct expense |
| B. | current liability |
| C. | Indirect expense |
| D. | Current asset |
| Answer» D. Current asset | |
| 129. |
The voucher type for recording goods received |
| A. | Rejection in |
| B. | Receipt note |
| C. | Purchase order |
| D. | Stock voucher |
| Answer» C. Purchase order | |
| 130. |
An account that the user need not create is |
| A. | Cash at bank |
| B. | Sundry creditors |
| C. | Cash in hand |
| D. | Balance sheet |
| Answer» D. Balance sheet | |
| 131. |
Reserve group accounts in tally is |
| A. | 28 |
| B. | 30 |
| C. | 18 |
| D. | 15 |
| Answer» B. 30 | |
| 132. |
The home screen of tally is also known as |
| A. | Menu bar |
| B. | Gate way of tally |
| C. | Accounts info |
| D. | Button tool bar |
| Answer» C. Accounts info | |
| 133. |
A ?credit note? is sent by ____________ to |
| A. | Seller, buyer |
| B. | Buyer, seller |
| C. | Customer, seller |
| D. | Creditor, seller |
| Answer» B. Buyer, seller | |
| 134. |
The rate of trade discount varies with the ____________ purchased |
| A. | Total asset |
| B. | Current asset |
| C. | Quantity |
| D. | None of these |
| Answer» D. None of these | |
| 135. |
A ____________ serves the purpose of both journal and ledger accounts |
| A. | Journal proper |
| B. | Purchase day book |
| C. | Cash book |
| D. | Any of the above |
| Answer» D. Any of the above | |
| 136. |
?Inventory books? is used to view |
| A. | Stock Items |
| B. | Group Summary |
| C. | Both A and B above |
| D. | None of these |
| Answer» D. None of these | |
| 137. |
Which of the following is compulsory to create while entry in Accounts with Inventory |
| A. | Stock Groups |
| B. | Stock Items |
| C. | Units of Measure |
| D. | All of these |
| Answer» E. | |
| 138. |
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 | |
| 139. |
Which of the following is the predefined stock category in tally |
| A. | Primary |
| B. | Symbol |
| C. | Stock |
| D. | Main location |
| Answer» B. Symbol | |
| 140. |
Which of the following can be budgeted in tally |
| A. | Net Transactions |
| B. | Closing Balance |
| C. | A and B |
| D. | none |
| Answer» D. none | |
| 141. |
What is the advantage of a computer-based transaction processing system |
| A. | Does not require as stringent a set of internal controls |
| B. | Will produce a more accurate set of financial statements |
| C. | Eliminates the need to reconcile control accounts and subsidiary ledgers |
| D. | Will be more efficient at producing financial statements |
| Answer» E. | |
| 142. |
Which of the following file is usually used as a master file |
| A. | Inventory subsidiary |
| B. | Cash disbursements |
| C. | Cash receipts |
| D. | Payroll transactions |
| Answer» B. Cash disbursements | |
| 143. |
Which of the following is used for voucher entry |
| A. | Ledger Account B. |
| B. | Groups |
| C. | Sub-Groups |
| D. | Depends on number of companies |
| Answer» B. Groups | |
| 144. |
What is the predefined number of groups in tally |
| A. | 16 |
| B. | 28 |
| C. | 128 |
| D. | 228 |
| Answer» C. 128 | |
| 145. |
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 | |
| 146. |
In tally you get currency symbol option from _______ menu |
| A. | Company creation |
| B. | Stock items units |
| C. | Regional setting |
| D. | None of the above |
| Answer» B. Stock items units | |
| 147. |
A Group Company is _______________ given to the merged accounts of member companies of the group |
| A. | a name |
| B. | an identity |
| C. | A and B |
| D. | None of the above |
| Answer» D. None of the above | |
| 148. |
'Tally vault' is a _________________ |
| A. | Security mechanism |
| B. | Ledger a/c |
| C. | Cost category |
| D. | None of the above |
| Answer» B. Ledger a/c | |
| 149. |
The Profit & Loss statement can be displayed in ______________ format(s). |
| A. | Horizontal |
| B. | Vertical |
| C. | A or B |
| D. | None of the above |
| Answer» D. None of the above | |
| 150. |
Find out which is not a Default Ledger in Tally |
| A. | Cash in Hand |
| B. | Capital Account |
| C. | Profit & Loss |
| D. | None of these |
| Answer» E. | |