Tally Exam 1.Suspense Account Group is defined under (A) Assets (B) Liabilities (C) Expenditure (D) Income 2. To alter a master while making an entry or viewing a report (A) Ctrl + Enter (B) Tab + Enter (C) Shift + Enter (D) Alt + Enter 3. To see any report in detailed way, press (A) F2 (B) Alt + C (C) Alt + F1 (D) Alt + F2 4. Predefined Billing terms can be maintained through (A) Stock Categories (B) Maintain Multiple Godowns (C) Cost center (D) Voucher Class 5. Which option is used to make changes in created Groups of Ledgers in Tally? (A) Alter (B) Create (C) Display (D) Change 6. Bank OCC a/c is a group defined under (A) Loan & Liability (B) Secured Loan (C) Unsecured Loan (D) Bank Account 7. ETCS means (A) Electronic Tax Collection System (B) Electric Tax Collected at Source (C) Electronic Tax Collected at Source (D) Enable Tax Collected at Source 8. Recording of actual stock as physically verified or counted is done through (A) Sales (B) Journal (C) Stock Journal (D) Physical Stock 9. In which voucher type entry is done for TDS calculations? (A) F4:Contra (B) F5:Payment (C) F6:Receipt (D) F7:Journal 10. Trial balance is prepared on _____ basis. (A) Monthly (B) Annually (C) Half yearly (D) Any of the above 11. Which shortcut key is used for Select Company in Tally? (A) F1 (B) F3 (C) Alt+F1 (D) Alt+F2 12. _____ is the shortcut to purchase voucher from Accounting Vouchers in Tally. (A) F8 (B) F9 (C) Alt+F1 (D) Ctrl+F1 13. Party account can be created through (A) Inventory creation window (B) Group creation window (C) Ledger creation window (D) Any one of them 14. 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 15. Manufacturing journal creates based on (A) Purchase Quotation (B) Stock Journal (C) Receipt Note (D) Journal 16. Function key for selecting payment voucher is A. F5 B. F6 C. F9 D. F11 17. ________ key helps to select function and features screen A. F8 B. F6 C. F11 D. F9 18. F2 is used for A. Changing current date B. Changing current period C. Change the voucher D. Select payment voucher 19. In which voucher type credit sales is recorded in Tally A. F5:Payment B. F6:Receipt C. F7:Journal D. F8:Sales 20. . In which voucher type credit purchase entry is posted in Tally A. F5:Payment B. F7:Journal C. F9:Purchase D. F6:Receipt 21. Where do we record all type of adjustment entry in Tally A. F5:Payment B. F6:Receipt C. F7:Journal D. F4:Contra 22. Which shortcut key is used to shut opened company in Tally A. F1 B. Alt + F1 C. F3 D. Alt + F3 23. Which option is used to exit Tally A. Exit B. Close C. Quit D. Shut Company 24. Which shortcut key is used to view configure in Tally A. F10 B. F11 C. F12 D. Alt + F9 25. Which Shortcut key is pressed to view features in Tally A. F10 B. F11 C. Alt + F11 D. F12 26. To create a sales voucher in tally, you have to press _______ . A. F5 B. F7 C. F8 D. F9 27. F12 is known as A. Company Features B. Company Configuration C. Accounting Features D. None of these 28. To change Current Date from Gateway of Tally press the key A. F1 B. F5 C. F2 D. F9 29. Which key is pressed to go to Gateway of Tally from company Info. menu A. Ctrl B. Alt C. Esc D. Enter 30. 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 31. Adjustment entries can be entered in A. Contra voucher B. Journal voucher C. Sales voucher D. Purchase voucher 32. Loans from individual comes under ________ group A. Fixed liabilities B. Loans and advances C. Current liabilities D. Capital 33. Credit note is used for entering A. Purchases B. Sales C. Purchase return D. Sales return 34. e left hand side of tally screen shows A. Current date B. Last entered voucher C. Gate way of tally D. List of selected companies 35. To activate cost centre and cost category feature we have to select A. Configuration B. F11 features C. Group creation D. Voucher creation 36. Carriage inwards can be included in A. Direct expenses B. Indirect expenses C. Current liability D. Misc Expenses 37. For entries not involving either cash or bank transactions we use ________ voucher A. Contra voucher B. Journal C. Sales D. Purchase 38. For entries involving both cash and bank transactions we use ________ voucher A. Contra voucher B. Journal C. Sales D. Purchase 39. ________ button helps to connect data from spread sheet or other application A. E-mail B. Help C. Export D. Browser 40. Bottom of tally screen shows A. Button bar B. List of vouchers C. List of companies D. Calculator 41. Debit note is used for entering A. Purchases B. Sales C. Purchase return D. Sales return 42. Capital of the company is included under A. Capital account B. Fixed liabilities C. Loans and advances D. Current liabilities 43. What is Tally ? A. A windows-based Enterprise Resource Planning software B. Enterprise Resource Planning hardware C. Both A and B D. None of the above 44. What is the Tally use for? handles Accounting, Inventory Management, Order Management, Tax Management, Payroll, Banking and many such requirements of the business B. handles word processing C. creates PPTs D. None of the above 45. Who is the founder of Tally? A. Shyam Sunder Goenka B. Danis Ritchi C. James Goosling D. None of these 46. What is the the use of Tally's GST Software in India? A. Handles all your GST (Goods and Services Tax) billing needs B. Tax C. Goods D. Service Tax 47. What do you mean by TAN? A.Tax Absorb Number B. Tax Assign Number C. Tax Account Number D. Tax Assessment Number 48. What is the full form of TCS? A. Tax Collected from Sales B. Tax Collected by Staff C. Tax Consumption at Source D.Tax Collected at Source 49. In tally screen right extreme displays ________ A. Selected companies B. Current date C. Gate way of tally D. Button bar 50. Closing stock come under ________ A. Current asset B. Fixed asset C. Stock in hand D. Direct income 51. There are ________ predefined ledgers A. One B. Three C. Two D. Four 52. The term current assets does not include ________ A. Debtors B. Bills Receivable C. Stock D. Goodwill 53. Accounting principles are divided into two types. These are A. Accounting concepts B. Accounting conventions C. Accounting standard D. Both A and B 54. Accrued income comes under A. Current liability B. Capital C. Current asset D. Fixed asset 55. A person who owes money to the business is a ________ A. Debtor B. Creditor C. Investor D. Supplier 56. Assets acquired for long term use in the business are called ________ A. Fixed assets B. Current assets C. Fictitious assets D. Liquid asset 57. _______ is the major source of revenue of any business A. Investment B. Advances C. Loan D. Sales 58. The amount invested by the owner into business is known as A. Loan B. Advance C. Capital D. Prepaid expense 59. Income earned but not received is known as ________ A. Advance income B. Proposed income C. Earned income D. Accrued income 60. Bank account is ________ A. Personal account B. Real account C. Nominal account D. Intangible real account 61. 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 20XX C. Land is purchased for Rs 10 lakhs D. An employee is dismissed from the job 62. 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 63. A ______ is sent to a customer when he returns the goods A. Debit note B. Credit note C. Proforma invoice D. Bill 64. To activate cost centre and cost category feature we have to select A. Configuration B. F11 features C. Group creation D. Voucher creation 65. Carriage inwards can be included in A. Direct expenses B. Indirect expenses C. Current liability D. Misc Expenses 66. For entries not involving either cash or bank transactions we use ________ voucher A. Contra voucher B. Journal C. Sales D. Purchase 67. For entries involving both cash and bank transactions we use ________ voucher A. Contra voucher B. Journal C. Sales D. Purchase 68. ________ button helps to connect data from spread sheet or other application A. E-mail B. Help C. Export D. Browser 69. Bottom of tally screen shows A. Button bar B. List of vouchers C. List of companies D. Calculator 70. Debit note is used for entering A. Purchases B. Sales C. Purchase return D. Sales return 71. Capital of the company is included under A. Capital account B. Fixed liabilities C. Loans and advances D. Current liabilities 72. In tally screen right extreme displays ________ A. Selected companies B. Current date C. Gate way of tally D. Button bar 73. Closing stock come under ________ . A. Current asset B. Fixed asset C. Stock in hand D. Direct Income 74. There are ________ predefined ledgers A. One B. Three C. Two D. Four 75. The term current assets does not include ________ A. Debtors B. Bills Receivable C. Stock D. Goodwill 76. Accounting principles are divided into two types. These are A. Accounting concepts B. Accounting conventions C. Accounting standard A. Accounting concepts B. Accounting conventions C. Accounting standard D. Both A and B 77. Taxes paid come under which group A. Capital B. Loans and liabilities C. Direct expenses D. Duties and taxes 78. A person who owes money to the business is a ________ A. Debtor B. Creditor C. Investor D. Supplier 79. Assets acquired for long term use in the business are called ________ A. Fixed assets B. Current assets C. Fictitious assets D. Liquid asset 80. _______ is the major source of revenue of any business A. Investment B. Advances C. Loan D. Sales Please provide your contact information to proceed.Email Address *First Name *Consent *Yes, I agree with the privacy policy and terms and conditions.Submit