MCQ Tally
1. Employee salary details are shown in
A) Attendance sheet
B) Gratuity papers
C) Exact reports
D) Pay roll
2. Salary comes under Head
A) Direct expense
B) current liability
C) Indirect expense
D) Current asset
3. Vouchers can be displayed in
A) Accounts info
B) Day book
C) inventory info
D) Ledger
4. Professionals usually maintain accounts as
A) Accounts with inventory
B) accounts only
C) Normal accounting
D) payroll accounting
5. A company can be deleted only in
A) Display
B) alter
C) delete
D) Create
6. Company features in tally includes
A) Accounting features
B) Inventory features
C) Statutory features
D) all of the above
7. Integrated accounts with inventory is available in
A) F12 configuration
B) f11 features
C) inventory info
D) accounts info
8. Collection of ledgers of same nature is called
A) Vouchers
B) asset
C) Group
D) None of these
9. 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
10. Predefined groups are also called as
A) Main group
B) Primary group
C) Statutory group
D) Parent group
11. Which of the following is not a disadvantage of introducing computerized accounting system
A) Possible demotivation through reundance
B) High expenditure on set up
C) Saving made on labour cost
D) Required staff training
12. Transfer from main cash to petty cash you require to pass
A) Voucher
B) Payment
C) Contra
D) Receipt
13. 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
14. Patent account falls under
A) Investments
B) Liabilities
C) Current assets
D) None of these
15. Drawings account is to be created by linking with
A) Capital
B) Current asset
C) Current liability
D) Drawings
16. Transactions are firstly entered in:
A) Journal
B) Ledger
C) Trial balance
D) None of these
17. 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
18. Capital is treated as liability because of
A) Dual aspect concept
B) Money measurement concept
C) Matching concept
D) Entity concept
19. are the liabilities which are payable after a long period
A) Fixed liabilities
B) Miscellaneous expenditure
C) Current liabilities
D) Contingent liabilities
20. is an example for long term liabilities
A) Creditors
B) Debentures
C) Overdraft
D) Bills payable
21. is the collection of all accounts
A) Journal
B) Voucher
C) Invoices
D) Ledger
22. is the book of original entry
A) Journal
B) Voucher
C) Invoices
D) Ledger
23. The process of ascertaining the balance of a particular account on a given date is
A) Posting
B) Journalizing
C) Balancing
D) Accounting
24. 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
25. is an example for tangible assets
A) Furniture
B) Debtors
C) Patent
D) Discount on issue of shares and debentures
26. Which account is the odd one
A) Furniture
B) Land and buildings
C) Stock of raw materials
D) Plant and machinery
27. Which of the following is the example of external users of accounting information
A) Government
B) Owners
C) Management
D) Employee
28. A is sent to a customer when he returns the goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill
29. 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
30. 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
31. Bank account is
A) Personal account
B) Real account
C) Nominal account
D) Intangible real account
32. Income earned but not received is known as
A) Advance income
B) Proposed income
C) Earned income
D) Accrued income
33. refers the amount invested by the owner into business
A) Loan
B) Advance
C) Capital
D) Prepaid expenses
34. is the major source of revenue of any business
A) Investment
B) Advances
C) Loan
D) Sales
Answer : D
35. Assets acquired for long term use in the business are called
A) Fixed assets
B) Current assets
C) Fictitious assets
D) Liquid asset
36. A person who owes money to the business is a
A) Debtor
B) Creditor
C) Investor
D) Supplier
37. Accrued income comes under
A) Current liability
B) Capital
C) Current asset
D) Fixed asset
38. Taxes paid come under which group
A) Capital
B) Loans and liabilities
C) Direct expenses
D) Duties and taxes
39. Accounting principles are divided into two types. These are
A) Accounting concepts
B) Accounting conventions
C) Accounting standard
D) 1 and 3 both
40. The term current assets does not include
A) Debtors
B) B/r
C) Stock
D) Goodwill
41. There are predefined ledgers
A) One
B) Three
C) Two
D) Four
42. Closing stock come under
A) Current asset
B) Fixed asset
C) Stock in hand
D) Direct income
43. E-mail can be used to
A) Send mail directly from tally screen
B) To send e-mail
C) Download information
D) Access help
44. In tally screen right extreme displays
A) Selected companies
B) Current date
C) Gate way of tally
D) Button bar
45. Capital of the company is included under
A) Capital account
B) Fixed liabilities
C) Loans and advances
D) Current liabilities
46. Carriage inwards can be included in
A) Direct expenses
B) Indirect expenses
C) Current liability
D) Misc Expenses
47. The branch of accounting which analyses and interprets the overall data is
A) Financial accounting
B) Cost accounting
C) Management accounting
D) None of these
48. To activate cost centre and cost category feature we have to select
A) Configuration
B) F 11 features
C) Group creation
D) Voucher creation
49. The left hand side of tally screen shows
A) Current date
B) Last entered voucher
C) Gate way of tally
D) List of selected companies
50. Credit note is used for entering
A) Purchases
B) Sales
C) Purchase return
D) Sales return
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