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100 MCQ of Tally.ERP 9
Question 1
Party account can be created through
(A) Inventory creation window
(B) Group creation window
(C) Ledger creation window
(D) Any one of them
Question 2
For Export of Data from Company to Company Tally uses
(A) XML Format
(B) ASCII Format
(C) SDF Format
(D) None of these
Question 3
We can change the Company Information from
(A) Company Info > View
(B) Company Info > Split Company Data
(C) Company Info > Back up
(D) Company Info > Alter
Question 4
Manufacturing journal creates based on
(A) Purchase Quotation
(B) Stock Journal
(C) Receipt Note
(D) Journal
Question 5
Transfer from Main Cash to petty Cash you require to pass _____ voucher.
(A) Contra
(B) Payment
(C) Receipt
(D) None of these
Question 6
To show the cheque number while reconciling Bank Accounts press
(A) CTRL + F11
(B) CTRL + F12
(C) F11
(D) F12
Question 7
To activate Job Costing which options require to be activated ?
(A) Maintain VAT
(B) Maintain Cost Centre
(C) Use Cost Centre for Job Costing
(D) Both b and c
Question 8
Service Tax Report can be seen from
(A) Display > Account Books
(B) Display > Statutory Reports
(C) Display > Day Book
(D) Display > Statutory Masters
Question 9
Retained Earnings is an alias of
(A) Investments
(B) Capital Account
(C) Indirect Income
(D) Reserve and surplus
Question 10
Data Folder of a Company consists of
(A) 3 digits
(B) 4 digits
(C) 5 digits
(D) 6 digits
Question 11
Which option is used to view list of Primary and Secondary groups in Tally ?
(A) Accounts
(B) List
(C) List of Accounts
(D) None of these
Question 12
_____ is the shortcut to Attendance from Payroll Vouchers in Tally.
(A) Ctrl+F4
(B) Ctrl+F5
(C) Alt+A
(D) Alt+S
Question 13
Which shortcut key(s) are used to display list of inventory reports within balance sheet ?
(A) F8
(B) F9
(C) F10
(D) F11
Question 14
Which group [Under] is selected in Input VAT or Output VAT ?
(A) Sundry Creditors
(B) Direct Expenses
(C) Indirect Expenses
(D) Duties & Taxes
Question 15
Which shortcut key is used in ‘Company Features’ Screen to use Statutory & Taxation in Tally ?
(A) F1
(B) F2
(C) F3
(D) F4
Question 16
To see the report of unconventional vouchers go to
(A) Display- Trial Balance
(B) Display- Exception Reports
(C) Display- Account Books
(D) Display- Day Book
Question 17
_____ is the shortcut to change the accounting period from Gateway of Tally.
(A) F1
(B) Alt+F1
(C) Alt+F2
(D) Alt+F3
Question 18
Double Entry System was introduced in
(A) Italy
(B) India
(C) Japan
(D) America
Question 19
Which option is used to copy company’s data into pen drive or cd ?
(A) Restore
(B) Backup
(C) Copy data
(D) Split company data
Question 20
How many groups are pre-defined in Tally ?
(A) 15
(B) 19
(C) 28
(D) 30
Question 21
In general the Financial year from shall be from
(A) 31st March of any year
(B) 1st April of any year
(C) 9th September of any year
(D) All of the above
Question 22
To change Current Date from Gateway of Tally press the key
(A) F1
(B) F2
(C) F5
(D) F9
Question 23
_____ is the shortcut for purchase voucher in Tally.
(A) F5
(B) F9
(C) Alt+F4
(D) Alt+F5
Question 24
The tax collected by the seller from the buyer is generally called
(A) Value Added Tax (VAT)
(B) Fringe Benefit Tax (FBT)
(C) Tax Collected at Source (TCS)
(D) Tax Deducted at Source (TDS)
Question 25
“Allow components list details (Bill Materials)” option is activated for
(A) Budgets
(B) Stock Items
(C) Ledgers
(D) Cost Category
Question 26
TDS is applied on which of the following incomes ?
(A) Salary Income (Contract)
(B) Commission of lottery ticket
(C) Professional Fee
(D) All of these
Question 27
_____ is the shortcut to post dated voucher from Accounting vouchers in Tally.
(A) Alt + I
(B) Ctrl + V
(C) Ctrl + T
(D) Ctrl + 10
Question 28
What percent of Additional Tax is applied if VAT in 12.5% ?
(A) 1%
(B) 1.5%
(C) 2.5%
(D) 4%
Question 29
Which shortcut key is used to set No in ‘Use Common Ledger A/c for Item Allocation ?’
(A) F11
(B) F12
(C) Alt + F11
(D) Alt + F12
Question 30
To change the date, shortcut used
(A) F1
(B) F2
(C) Alt+F2
(D) Alt+F3
Question 31
How to activate the tally audit feature in a company ?
(A) Press F12 key
(B) In comp info-> security control-option
(C) During the creation of a company
(D) Press F11 key
Question 32
Which shortcut key is used to shut opened company in Tally ?
(A) F1
(B) F3
(C) Alt+F1
(D) Alt+F3
Question 33
Bad loans in banking terminology are generally known as
(A) CBS
(B) NPAs
(C) Prime Asset
(D) BPOs
Question 34
The tax collected by the employer towards income of an employee is called
(A) Value Added Tax (VAT)
(B) Fringe Benefit Tax (FBT)
(C) Tax Collected at Source (TCS)
(D) Tax Deducted at Source (TDS)
Question 35
_____ is the shortcut to payroll as Voucher from Payroll Vouchers in Tally.
(A) Alt+A
(B) Alt+S
(C) Ctrl+F4
(D) Ctrl+F5
Question 36
“Alias” represents
(A) Code name
(B) Nick name
(C) Short name
(D) All of these
Question 37
_____ is a record of all monetary transactions.
(A) Account
(B) Asset
(C) Accrual basis
(D) Credit
Question 38
Stock maintained for production purpose is called
(A) Inventory
(B) Trial balance
(C) Payroll
(D) Ledger
Question 39
How many type of companies can be created in Tally ?
(A) 2
(B) 3
(C) 4
(D) 5
Question 40
What is the advantage of a computer-based transaction processing system ?
(A) Will be more efficient at producing financial statements.
(B) Eliminates the need to reconcile control accounts and subsidiary ledgers.
(C) Does not require as stringent a set of internal controls.
(D) Will produce a more accurate set of financial statements.
Question 41
Where do we record credit purchase of furniture in Tally ?
(A) Journal
(B) Receipt
(C) Payment
(D) Purchase
Question 42
Which option is used to enable VAT, TDS, and Service Tax etc. in Tally ?
(A) Accounting Features
(B) Inventory Features
(C) Statutory & Taxation
(D) None of these
Question 43
What is the TDS exemption limit for contractor and sub-contractor ?
(A) 5000
(B) 10000
(C) 20000
(D) 50000
Question 44
To create Scenario which option requires to be activated ?
(A) Use Rev journal & Optional voucher in F11
(B) Use Reversing voucher in F11
(C) Use Optional voucher in F11
(D) Use Rev Journal & Optional voucher in F12
Question 45
In taxation, VAT stands for
(A) Value Approved Tax
(B) Value Added Tax
(C) Value Added Transaction
(D) Value Assigned Tax
Question 46
_____ is the shortcut to vouchers as invoice from Accounting Vouchers in Tally.
(A) Alt + I
(B) Ctrl + V
(C) Ctrl + F10
(D) F10
Question 47
To save entry without any amount, we have to use
(A) Allow O value entry
(B) Use Rej. Notes
(C) Maintain Multiple godown
(D) Cost Center
Question 48
_____ considers incoming money to be instantly available and reduction of cash to occur only on the date of actual outflow of money (instead of the date of transaction).
(A) Asset
(B) Accrual basis
(C) Credit
(D) Debit
Question 49
Which ledger is created by Tally automatically as soon as we create a new company ?
(A) Capital A/c.
(B) Profit & Loss A/c
(C) Cash
(D) B and C both
Question 50
In which voucher type, amount of VAT or TDS payable to the government will be noted ?
(A) F4:Contra
(B) F5:Payment
(C) F6:Receipt
(D) F7:Journal
Question 51
To change Current Date from Gateway of Tally press the key
(A) F1
(B) F2
(C) F5
(D) F9
Question 52
To get Payroll Reports choose
(A) Gateway of Tally > Display > Payroll Reports
(B) Gateway of Tally > Display > Statement of Payroll
(C) Gateway of Tally > Display > Statement of Accounts
(D) Gateway of Tally > Display
Question 53
What is the predefined number of groups in tally ?
(A) 16
(B) 28
(C) 128
(D) 228
Question 54
How many types of users are present in tally ?
(A) 1
(B) 2
(C) 3
(D) 4
Question 55
_____ is the shortcut to create payment voucher in Tally.
(A) F2
(B) F4
(C) F5
(D) F6
Question 56
Which shortcut key is used to change current period in Tally ?
(A) Alt + F2
(B) F2
(C) F3
(D) Alt + F3
Question 57
Which shortcut key is used to view Report with all details in Tally ?
(A) F1
(B) F3
(C) Alt + F1
(D) Alt + F2
Question 58
VAT Structure is beneficial for whom ?
(A) Balance Sheet
(B) Cash Flow or Funds Flow
(C) Trader
(D) Trial Balance
Question 59
A Debit note is a statement sent to the _____ by the _____
(A) Buyer, seller
(B) Seller, buyer
(C) Creditor, seller
(D) Customer, seller
Question 60
_____ is the shortcut for sales order in Tally.
(A) F8
(B) F9
(C) Alt + F4
(D) Alt + F5
Question 61
In taxation, TCS stands for
(A) Tariff Collected at Station
(B) Tax Combined at Source
(C) Tax Collected at Source
(D) Tax Creation at Source
Question 62
_____ is the shortcut to rejection in from inventory Vouchers in Tally.
(A) Alt + F4
(B) Alt + F5
(C) Alt + F7
(D) Alt + F9
Question 63
Can we allow Expenses/Fixed Assets in Purchase vouchers ?
(A) Yes
(B) No
(C) Wrong Question
(D) Both a and b
Question 64
_____ is the shortcut to reversing journal from Accounting Vouchers in Tally.
(A) F10
(B) Ctrl + F10
(C) Alt + I
(D) Alt + V
Question 65
_____ denotes reduction in money or increase in liability.
(A) Accounting
(B) Contra
(C) Cash
(D) Inventory
Question 66
Which shortcut key is pressed to go to company Info. Menu from Gateway of Tally ?
(A) Alt+ F1
(B) Alt + F2
(C) Alt + F3
(D) Alt + F4
Question 67
Which menu is used to create new ledgers, groups and voucher types in Tally ?
(A) Masters
(B) Import
(C) Reports
(D) Transactions
Question 68
Which shortcut key is used in ‘Company Features’ screen to use Inventory Features in Tally ?
(A) F1
(B) F2
(C) F3
(D) F4
Question 69
_____ is the shortcut to configure a company in Tally.
(A) F2
(B) F3
(C) F4
(D) F5
Question 70
Which option is used in Tally to close opened Company ?
(A) Alter
(B) Shut Company
(C) Create Company
(D) Select Company
Question 71
Enter Question Here.... How many voucher types are provided in Tally to record transactions ?
(A) 2
(B) 3
(C) 4
(D) 5
Question 72
Where do we record all type of adjustment entry in Tally ?
(A) F4:Contra
(B) F5:Payment
(C) F6:Receipt
(D) F7:Journa
Question 73
By which option Purchase or Sales register can be viewed ?
(A) Accounts Books
(B) Display
(C) Statutory Books
(D) Inventory Books
Question 74
In which voucher type credit sales is recorded in Tally ?
(A) F5:Payment
(B) F6:Receipt
(C) F7:Journal
(D) F8:Sales
Question 75
Which shortcut key is pressed for voucher entry or deleting a ledger ?
(A) Alt + D
(B) Alt + A
(C) Alt + C
(D) Alt + X
Question 76
Which shortcut key is used to enable Tax Deducted at Source [TDS] ?
(A) F9
(B) F11
(C) F12
(D) Alt + F12
Question 77
Which reports are prepared monthly in Tally ?
(A) Profit & Loss A/C
(B) Balance Sheet
(C) Cash Flow of Funds Flow
(D) Trial Balance
Question 78
To see reports of Job Work Analysis
(A) Display-Statement of a/cs-Cost Centre-Job work
(B) Display-Statement of a/cs
(C) Display-Statement of a/cs-Job Work Analysis
(D) None of these
Question 79
Which shortcut key(s) are used to enter a stock journal in tally ?
(A) Alt + F7
(B) Control + F7
(C) Shift + F7
(D) F7
Question 80
A ‘credit note’ is sent by _____ to _____
(A) Customer, seller
(B) Buyer, seller
(C) Creditor, seller
(D) Seller, buyer
Question 81
_____ denotes movable or immovable property and inventory.
(A) Asset
(B) Accrual basis
(C) Credit
(D) Debit
Question 82
In taxation, FBT stands for
(A) Fringe Benefit Tariff
(B) Fringe Benefit Tax
(C) Frame Benefit Tax
(D) Fast Benefit Tax
Question 83
_____ is the shortcut to set date in Tally.
(A) F2
(B) F4
(C) F5
(D) F6
Question 84
_____ is the shortcut to create receipt voucher in Tally.
(A) F2
(B) F3
(C) F4
(D) F6
Question 85
Which submenu is used to create new ledgers, groups and voucher types in Tally ?
(A) Accounting Vouchers
(B) Account Info.
(C) Inventory Vouchers
(D) Inventory Info.
Question 86
Which shortcut key is pressed to display Part No. for automobile industries ?
(A) F6
(B) F10
(C) F11
(D) F12
Question 87
Financial year normally ends no ?
(A) 31 March
(B) 1 April
(C) 30 April
(D) 31 December
Question 88
In taxation, TDS stands for
(A) Tariff Deduction at Source
(B) Tax Deducted at Source
(C) Tax Deducted at Station
(D) Tax Deviation at Source
Question 89
Which option is true for viewing Profit & Loss A/C in Gateway of Tally ?
(A) Gateway of Tally → Account Books → Profit & Loss A/C
(B) Gateway of Tally → Display → Profit & Loss A/C
(C) Gateway of Tally → Reports → Profit & Loss A/C
(D) None of these
Question 90
Default ledger accounts in tally are
(A) Profit & loss and trial balance
(B) Cash and bank
(C) Balance sheet & profit & loss profit & loss and trial balance
(D) Cash and profit & loss
Question 91
_____ is the shortcut to receipt note from Inventory Vouchers in Tally.
(A) Alt + F6
(B) Alt + F8
(C) Alt + F9
(D) Ctrl + F7
Question 92
_____ denotes increase in money.
(A) Debit
(B) Credit
(C) Asset
(D) Accrual basis
Question 93
_____ is the shortcut for sales voucher in Tally.
(A) Alt + F4
(B) Al t+ F5
(C) F8
(D) F9
Question 94
Which option is used to place data taken in pen drive or CD to Appropriate place in Tally ?
(A) Split Company Data
(B) Backup
(C) Restore
(D) None of these
Question 95
Which shortcut key is used to take print of VAT or TDS reports ?
(A) Shift + P
(B) Alt + P
(C) Ctrl + Alt + P
(D) Ctrl + P
Question 96
To activate MRP feature from Gateway of Tally initially we need to press
(A) F10
(B) F11
(C) F12
(D) Alt + F1
Question 97
Which option lists inventory valuation method in tally ?
(A) Stock analysis
(B) Stock summary
(C) Stock report
(D) Stock journal
Question 98
_____ is the shortcut to company info from Gateway of Tally.
(A) Alt + F1
(B) Alt + F2
(C) Alt + F3
(D) F1
Question 99
With how many types ledger, group and voucher types can be created in Tally ?
(A) 2
(B) 3
(C) 4
(D) 5
Question 100
Which option is used to view Trial Balance from Gateway of Tally ?
(A) Gateway of Tally → Reports → Display → Trial Balance
(B) Gateway of Tally → Trial Balance
(C) Gateway of Tally → Reports → Trial Balance
(D) None of these