Tally ERP Multiple Choice Questions and Answers for Practice

16. Budget represents ……………………

1. Estimation
2. Forecasting
3. Assumption
4. All of these

17. Find out which is not a Default Ledger in Tally

1. Cash in Hand
2. Capital Account
3. Profit & Loss
4. None of these

18. The Profit & Loss statement can be displayed in ----------- ----- format(s).

1. Horizontal
2. Vertical
3. A or B
4. None of the above

19. Default ledger accounts in tally are ______

1. Balance sheet & profit & loss profit & loss and trial balance
2. Profit & loss and trial balance
3. Cash and profit & loss
4. Cash and bank

20. Default godown name in tally is ____________

1. Primary
2. Main location
3. A or b
4. None of the above

21. Tally vault is a _________________

1. Security mechanism
2. Ledger a/c
3. Cost category
4. None of the above

22. To create a sales voucher in tally, you have to press _______

1. F5
2. F7
3. F8
4. F9

23. A Group Company is ------------------------- given to the merged accounts of membercompanies of the group.

1. a name
2. an identity
3. A and B
4. None of the above

24. In tally you get currency symbol option from _______ menu

1. Company creation
2. Stock items units
3. Regional setting
4. None of the above

25. What gives the balance for each day for the voucher type has been selected.

1. Trial Balance
2. Daybook
3. Balance Sheet
4. None of the above

26. For stock journal entry we press ______________ in tally

1. F7
2. Alt + F7
3. F10
4. F11

27. Which option lists inventory valuation method in tally?

1. Stock report
2. Stock journal
3. Stock analysis
4. Stock summary

28. How to activate the tally audit feature in a company?

1. Press F11 key
2. During the creation of a company
3. In -comp info -> security control-option
4. Press F12 key

29. What is the predefined number of groups in tally?

1. 16
2. 28
3. 128
4. 228

30. Which of the following is used for voucher entry?

1. Ledger Account
2. Groups
3. Sub-Groups
4. Depends on number of companies