Tally

Ques_I D 158

157 199 59 16 85 15 32 86 196 87 165 195 176 203 64 23 68 216 162 206 58 115 218 44 137 39

Question Answer Given If a regular dealer sold a goods of Debtor's A/C..dr To Sales A/c Rs.1000 paid VAT Rs.400 what will be the entry in seller's book? If a regular dealer purchase a goods of Purchase A/C....dr Input VAT A/C.dr To Rs.1000 paid VAT Rs.400 what will be Creditor the entry in purchaser's book? Contra Entry supports only General Ledger Cost centres allow Revenue items Ignoring - Allow advance entries in Comapany Information will bolcked Masters If Challan made before Bill means Online Ledger creation doesn't support opening balance because Unallocated amount for parties in opening balance is treated as If Bill made before challan mean If cut off date is not given then Due date Challan effects on If capital goods are purchased by paying VAT then what will be the entry? Due date is always less than Bill date If Rs.3000 is paid for advertisement in Daily News paper and Rs.1700 in Weekly Magazine.So cost centre and category allocation will be Default Godown name is Receipt mode is used for Can we change method of showing Balance Sheet i.e Liabilities/Assets or Assets/Liabilities If machinery is sold for less than it's WDV rest amount is treated as Zero value entry works for If goods are returned for replacement. Use Debit and Credit notes are mainly used for Pre defined cost centres are allowed for TAN application is made by If rejection inward is treated as scrap for any goods-value of rest of goods are to be If you can't give quantity for any item means you have missed BOI has to pay service tax Ledger can be divided under

Goods received but bill not received Drawback of Tally Advance treatment Goods received but bill not received Equal to Bill date Inventory Capital Goods A/C..dr To Creditor A/c TRUE Cost Category: Advertisement Cost Centre: Daily news paper and Weekly Magazine Main location Receipt made from party Yes Profit on sale of Machinery Accounting Voucher Debit-Credit Note Inventory Effect Fixed expenses 43B Increased Item name Monthly Cost Centre

199

Trial Balance shows transaction value in Debit- Credit separate column Tally supports unit of measurement as How to get details view of any Report? One ledger is having transaction value of Rs. 20000 can you delete the same ledger? Can we print a cheque from Tally? Is there any statutory chages has to made in Tally for passing entry of Unregistered dealer? Can we select same location for Back up & Restore? Inter godown transfer is allowed in Tally If a regular dealer sold a goods of Rs.1000 paid VAT Rs.400 what will be the entry in seller's book? If a regular dealer purchase a goods of Rs.1000 paid VAT Rs.400 what will be the entry in purchaser's book? Contra Entry supports only

85

If Challan made before Bill means

70 72 25 19 249 153 20 76 158

157

86 196 162 206 58 129 44 183 24 128 102 184 67

TRUE Simple Alt+F3 Yes Yes Yes Yes TRUE Debtor's A/C..dr To Output VAT A/c Purchase A/C....dr To Input VAT A/C To Creditor Cash Ledger

Bills received but Goods not received

If Bill made before challan mean Bills received but Goods not received If cut off date is not given then Due Greater Than Bill date date If goods are returned for replacement. Rejection in-out Use Debit and Credit notes are mainly used Accounting Effect for Pre defined cost centres are allowed Variable Expenses for Refund of service tax paid on input services is available if taxable service FALSE is exported If you can't give quantity for any item Item Quantity means you have missed Online ledger creation supports-Ledger Secondary Group created under Does Tally allow working capital in No Balance sheet No Service tax is payable when service Locally purchased Income of previousisyear is assessed in Previous year the Does Tally support ledger creation under Primary group except the No default? If machinery is sold for more than it's Loss on sale on Machinery WDV excess receipt is treated as

187

Sundry creditor in Tally falls under

Current Liabilities

62

Contra mode is used for

Receipt from bank

45 122 70 72 25 19 125 249 110

153 20 76 86 196 167 31 84 158

157 199 115 64 23

If you want to declare Trade Discount in sales bill Exception of Tax deposition in TDS is applicable applicable on Trial Balance shows transaction value in Debit- Credit separate column Tally supports unit of measurement as How to get details view of any Report? One ledger is having transaction value of Rs. 20000 can you delete the same ledger? Service tax rate is Can we print a cheque from Tally? What is the receipt/ gross turnover limit of Individuals and HUF to deduct tax Is there any statutory chages has to made in Tally for passing entry of Unregistered dealer? Can we select same location for Back up & Restore? Inter godown transfer is allowed in Tally

Reduce the rate manually last day of every month FALSE Compound Alt+F1 No 10%+0.2%+0.1% Yes 11 lacs

Yes Yes TRUE

If Bill made before challan mean Goods received but bill not received If cut off date is not given then Due Equal to Bill date date If proprietor has taken goods of Rs. X for his personal use. Input vat is Rs. Y. Drawings A/c..dr X To Purchase A/C X What will be the entry? What is the use of - Show both Profit or Profit or loss balance always shows in Loss as Liability Liability side If rejection-in is treated as scrap

Should track previous Tracking No

If a regular dealer sold a goods of Debtor's A/C..dr To Sales A/c Rs.1000 paid VAT Rs.400 what will be the entry in seller's book? If a regular dealer purchase a goods of Purchase A/C....dr Input VAT A/C.dr To Rs.1000 paid VAT Rs.400 what will be Creditor the entry in purchaser's book? Contra Entry supports only General Ledger TAN application is made by Receipt mode is used for Can we change method of showing Balance Sheet i.e Liabilities/Assets or Assets/Liabilities

43B Receipt made from party Yes

68 183 273 58 184 187 129 44 24 177 128 102 197 188 33 14 134 169 51 200 78

99 196 167

If machinery is sold for less than it's Profit on sale of Machinery WDV rest amount is treated as Online ledger creation supports-Ledger Primary Groups created under Track additional cost of purchase Increase rate of Stock Pre defined cost centres are allowed Fixed expenses for Does Tally support ledger creation Yes under Primary group except the default? Sundry creditor in Tally falls under Primary Group Refund of service tax paid on input services is available if taxable service TRUE is exported If you can't give quantity for any item Item name means you have missed Does Tally allow working capital in Yes Balance sheet Incase of BRS we need to put only Cheque No No Service tax is payable when service Imported Income of previousisyear is assessed in Assessment year the There is a few differences between TRUE Due Date and Credit Days Sundry Debtors in Tally falls under Primary Group Naration is mandatory for Tally TRUE Can we put opening balance on online Yes ledger creation? What is the challan of service tax TR6 payment Every dealer who makes an inter-state Unregistered dealer sale must be If one party's all outstanding is cleared Balance Sheet report shown from Product Category is mandatory for FALSE Item creation "Source - is used as outward godown and ""destination"" is used as inward FALSE godown" If 1 pc of eraser is free with 1 dozen of eraser pk how could you pass the Use Zero(0) valued entries entry? If cut off date is not given then Due Greater Than Bill date date If proprietor has taken goods of Rs. X for his personal use. Input vat is Rs. Y. Drawings A/c..dr Y To Input VAT A/C Y What will be the entry?

84

If rejection-in is treated as scrap

Shouldn't track previous Tracking No

158

If a regular dealer sold a goods of Rs.1000 paid VAT Rs.400 what will be the entry in seller's book?

Debtor's A/C..dr To Output VAT A/c

199

If a regular dealer purchase a goods of Rs.1000 paid VAT Rs.400 what will be the entry in purchaser's book? Contra Entry supports only

85

If Challan made before Bill means

Bills received but Goods not received

74

Category of Items

214

Rate means price of per Advance receipt from party will be passed through If tax is not deducted the expenditure should be A composite dealer doesn't have to maintain regular books of accounts All kinds of payments are liable to deduction of Tax Budget can be maintained on

113

Full form of TAN

Tax Collection Account Number

157

46 109 149 104

211 93 35 179 105 208 90 135 143 40 98 50 133 173 161

Which entry doesn't have any financial effect If sales bill made for Rs. 4590 but it should be made for 4950 what to do? Credit field allows first in If any cheque of April cleared on May. In the month of April BRS report will shown What is Tax deduction rate of Interest on securities ? If sold goods are rejected entry will be passed from Entry for return of goods always follows which reference? What is the due date of service tax return for first half year All composition dealers should be Registered dealer BRS done by If 2 pcs of Ball pens are given as free with 4 boxes of CD pk how could you pass the entry? Party's bill wise outstanding report is showing from Which one is Service Tax return? Class names are compulsory for Pre defind cost center allocation Direct expenses paid in single purchase bill will be alloacted as

Purchase A/C....dr To Input VAT A/C To Creditor Cash Ledger

Sales Voucher Disallowed FALSE FALSE Ledger

Return Issue Credit note to Debtors Receipt entry Unreconsiled Company-10 Others-20 Rejection Inward Advance within 25th of October FALSE Uncleared ch. Value Use Zero(0) valued entries Balance Sheet ST3 FALSE Value wise

205 202 152 86 196 167

84 158

157 199

Can we alter defined credit limit for a customer-if previous entry is passed with the same? Tally has its Default Godown Composite Dealer can cliam input tax

If rejection-in is treated as scrap

113

Full form of TAN

208 79 91 75 135 271 77 130 148

Shouldn't track previous Tracking No

If a regular dealer sold a goods of Debtor's A/C..dr To Sales A/c To Rs.1000 paid VAT Rs.400 what will be Output VAT A/c the entry in seller's book? If a regular dealer purchase a goods of Purchase A/C....dr Input VAT A/C.dr To Rs.1000 paid VAT Rs.400 what will be Creditor the entry in purchaser's book? Contra Entry supports only B&C Budget can be maintained on

179

No FALSE

If Bill made before challan mean Bills received but Goods not received If cut off date is not given then Due Equal to Bill date date If proprietor has taken goods of Rs. X Drawings A/c..dr X+Y To Purchase for his personal use. Input vat is Rs. Y. A/C X To Input VAT A/C Y What will be the entry?

214

211

No

All of the above Tax Deduction & CollectionAccount Number

Which entry doesn't have any financial Order effect If any cheque of April cleared on May. In the month of April BRS report will Unreconsiled shown If sold goods are rejected entry will be Rejection Inward passed from In Alternate unit Tally supports Two units In which this option should be positive B&C - Inventory values are affected If any entry is exist with any item it B&C can be What is the due date of service tax within 25th of October return for first half year Incase of Purchase or Sales order Any godown will be If goods transferred from one to another location carring cost will be Track additional cost on purchase added by If any service is imported who will be Importer of Service liable to pay tax on service? If an unregistered dealer purchase goods of Rs. X paying VAT Rs. Y what Purchase A/C..dr X+Y To Creditor X+Y will be the entry?

92 119 48 197 49 188 134 169 200 272 99 112 167

84

If sales bill made for Rs. 5000 but it Issue Credit note to Debtors should be made for 4500 what to do? Configuaration of PAN No AAAAA0000A Does Tally allow additional descrition Yes for Ledger and Items There is a few differences between FALSE Due Date and Credit Days Trial Balance shows A&B Sundry Debtors in Tally falls under Current Asets What is the challan of service tax GAR7 payment Every dealer who makes an inter-state Registered dealer sale must be Product Category is mandatory for FALSE Item creation Track additional cost of purchase TRUE affects product rate If 1 pc of eraser is free with 1 dozen of Use Actual & Billed QTY in entry eraser pk how could you pass the entry? Considering A & B which ever is The payer should deduct tax earlier If proprietor has taken goods of Rs. X for his personal use. Input vat is Rs. Y. Drawings A/c..dr Y To Input VAT A/C Y What will be the entry? If rejection-in is treated as scrap

199

If a regular dealer sold a goods of Rs.1000 paid VAT Rs.400 what will be the entry in seller's book? If a regular dealer purchase a goods of Rs.1000 paid VAT Rs.400 what will be the entry in purchaser's book? Contra Entry supports only

85

If Challan made before Bill means

158

157

104 181 170 93 35 105

All kinds of payments are liable to deduction of Tax All Primary groups are created underPRIMARY Central sales Tax is leviable if the gross turn over is If sales bill made for Rs. 4590 but it should be made for 4950 what to do? Credit field allows first in What is Tax deduction rate of Interest on securities ?

Shouldn't track previous Tracking No Debtor's A/C..dr To Output VAT A/c Purchase A/C....dr To Input VAT A/C To Creditor Cash Ledger

Bills received but Goods not received

FALSE FALSE > Rs. 500000 < Rs1000000 Issue Credit note to Debtors Receipt entry Company-10 Others-20

214

A composite dealer doesn't have to maintain regular books of accounts Entry for return of goods always follows which reference? Budget can be maintained on

113

Full form of TAN

149 90

211 34 179 208 79 118 274 186 138 108 48 49 220 182 136 86 196 167

84 158

157 199

FALSE Advance Ledger Tax Collection Account Number

Which entry doesn't have any financial Return effect Cheque number comes under Date field If any cheque of April cleared on May. In the month of April BRS report will Unreconsiled shown If sold goods are rejected entry will be Rejection Inward passed from In Alternate unit Tally supports Three units What is the Return Form of Interest on 27Q deposites ? Can we issue single bill for more than No one challans? Sundry creditor in Tally is a Sub group Company has to pay service tax Quterly The tax liability is a combibation of 1. Deposition of Tax 2. Depositing the dual liability challan Does Tally allow additional descrition No for Ledger and Items Trial Balance shows Group wise Report Nett available considers Sales order FALSE All Secondary groups are created FALSE under any Primary groups AOP has to pay service tax Quterly If Bill made before challan mean Goods received but bill not received If cut off date is not given then Due Equal to Bill date date If proprietor has taken goods of Rs. X for his personal use. Input vat is Rs. Y. Drawings A/c..dr X To Purchase A/C X What will be the entry? If rejection-in is treated as scrap

Should track previous Tracking No

If a regular dealer sold a goods of Rs.1000 paid VAT Rs.400 what will be Debtor's A/C..dr To Sales A/c the entry in seller's book? If a regular dealer purchase a goods of Purchase A/C....dr Input VAT A/C.dr To Rs.1000 paid VAT Rs.400 what will be Creditor the entry in purchaser's book? Contra Entry supports only General Ledger

135 77 130 148 92 119

156

80 123 185 209 63 193 172 66 169 51 200 78

99

What is the due date of service tax within 25th of September return for first half year If goods transferred from one to another location carring cost will be Track additional cost on purchase added by If any service is imported who will be Exporter of Service liable to pay tax on service? If an unregistered dealer purchase goods of Rs. X paying VAT Rs. Y what Purchase A/C..dr X To Creditor X will be the entry? If sales bill made for Rs. 5000 but it Issue debit note to Debtors should be made for 4500 what to do? Configuaration of PAN No AAAAA0000A If a delear stood as unregistered till October2008 composite- December 2008 on January2009 he becomes Composite Regular then what will be the status of that particular dealer in the year of 2009-10 financial year Standard Rate can be defined for Standard cost Which form need to be furnish incase 16 of tax deduction on Salary amount More than one companies backup can TRUE be stored in a single TBK file Goods returned entry always follows New Reference Payment mode is used for Payment made to party If Party ledger balance and billwise break up is not matched. The Advance difference is treated as Cost centres and categories are used Expenses for Sales mode is used for sales of Trading Goods Every dealer who makes an inter-state Registered dealer sale must be If one party's all outstanding is cleared Outstanding--> Receivables/Payables report shown from Product Category is mandatory for TRUE Item creation "Source - is used as outward godown and ""destination"" is used as inward TRUE godown" If 1 pc of eraser is free with 1 dozen of eraser pk how could you pass the Use Actual & Billed QTY in entry entry?

112

The payer should deduct tax

Time of payment to payye

22

Balance Sheet view is available in Does Trial Balance shows Difference in opening balance Liability to deduct tax is always on the If the employee has worked under more than which form need to furnish?

Vertical View

71 107 117

No Deductee 12B

85

86 196 167

84 41 47 43 150 54 106 144 165

176 37 42 18 210 95 87 168 174 30

If Challan made before Bill means

Goods received but bill not received

If Bill made before challan mean Bills received but Goods not received If cut off date is not given then Due Equal to Bill date date If proprietor has taken goods of Rs. X Drawings A/c..dr X+Y To Purchase for his personal use. Input vat is Rs. Y. A/C X To Input VAT A/C Y What will be the entry? If rejection-in is treated as scrap

Shouldn't track previous Tracking No

Address for godowns allows from F11-F2 Which option is use to create online Alt+C ledgers? Which field is compulsory for item Item Group creation If a composite dealer purchase goods of Rs. X paying VAT Rs. Y what will be Purchase A/C..dr X To Creditor X the entry? What is meant by Use common ledger Each item is having a separate Sales/ account for A/c for item allocation--Yes Purchase a/c What is Tax deduction rate of Company-10 Others-10 commission or brokerage ? All tax rates are available for Unregistered dealer If capital goods are purchased by paying VAT then what will be the Capital Goods A/C..dr To Creditor A/c entry? If Rs.3000 is paid for advertisement in Cost Category: Advertisement Cost Daily News paper and Rs.1700 in Centre: Daily news paper and Weekly Weekly Magazine.So cost centre and Magazine category allocation will be Cutoff date support for which group Sundry Debtors Last step of inventory Information is Item Creation What is the shortcut key to delete a Alt+E ledger? Can we see the Stock inward outward Yes report from Stock Summary If Purchases bill made for Rs. 12160 but it should be made for 11620 what Issue credit note to creditors to do? Challan effects on Inventory What is the present CST rate 0.03 Does Tally support more than one Yes predefined cost centres Can we show both Profit or Loss as Yes liability

164 96 192 124 159 180 198

VAT carryforward / refundable means If Order made but Challan is not yet cleared what will show in the report? Goodwill is Service tax is a Can we pass different items with different VAT rate in a single voucher in Tally? Total number of Primary groups is Tally is Contra entry Supports other than Cash/Bank ledger

Input Vat< output Vat Challan outstanding Ficticious Assets Direct tax Yes 13 TRUE

Correct Answer

Marks

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

B&C A&B Company Features will bolcked Goods received but bill not received

3 3

B&C

3

On Account

3

Bills received but Goods not received Equal to Bill date Inventory Capital Goods A/C.dr VAT on cap. Goods A/Cdr To Creditor A/c FALSE Cost Category: Advertisement Cost Centre: Daily news paper and Weekly Magazine Main location All of the above

3 3

3 3 2 2 2 2 2 2

Yes

2

Loss on sale on Machinery

2

All of the above

2

Rejection in-out

2

B&C Fixed expenses 49B

2 2 2

Increased

2

Item Quantity

2

Quterly A&B

1 1

TRUE

1

Both A &B Alt+F1

1 1

No

1

Yes

1

No

1

Yes

1

TRUE

1

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

B&C

3

Goods received but bill not received

3

Bills received but Goods not received Equal to Bill date

3 3

Rejection in-out

2

B&C Fixed expenses

2 2

TRUE

2

Item Quantity

2

Secondary Group

2

Yes

2

Exported Assessment year

2 2

Yes

2

Profit on sale of Machinery

2

Current Liabilities Cash- bank/ Bank-bank transfer

2

Use discount column

2

last day of accounting year

2

TRUE

1

Both A &B Alt+F1

1 1

No

1

10%+0.2%+0.1% Yes

1 1

10 lacs

1

No

1

Yes

1

TRUE

1

Bills received but Goods not received Equal to Bill date Drawings A/c..dr X+Y To Purchase A/C X To Input VAT A/C Y Profit or loss balance always shows in Liability side Shouldn't track previous Tracking No

2

3 3 3 3 3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

B&C

3

49B All of the above

2 2

Yes

2

Loss on sale on Machinery

2

Secondary Group

2

Increase rate of Stock Fixed expenses

2 2

Yes

2

Current Liabilities

2

TRUE

2

Item Quantity

2

Yes

2

Bank Date Exported Assessment year

2 2 2

FALSE

1

Current Asets FALSE

1 1

No

1

GAR7

1

Registered dealer

1

Ledgerwise report

1

FALSE

1

TRUE

1

Use Actual & Billed QTY in entry

1

Equal to Bill date Drawings A/c..dr X+Y To Purchase A/C X To Input VAT A/C Y

3 3

Shouldn't track previous Tracking No

3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

B&C

3

Goods received but bill not received Unit of Items

3 2

Receipt Voucher

2

Disallowed

2

TRUE

2

FALSE

2

All of the above Tax Deduction & CollectionAccount Number

2

Order

2

Issue debit note to Debtors

2

B&C

2

Unreconsiled

2

Company-20 Others-10

2

Rejection Inward

2

Agst Reference

2

within 25th of October

2

TRUE

1

Cheque clearing date

1

Use Zero(0) valued entries

1

Outstanding--> Receivables/Payables ST3

2

1 1

TRUE

1

A or B

1

Yes

1

Yes FALSE

1 1

Goods received but bill not received Equal to Bill date

3 3

Drawings A/c..dr X To Purchase A/C X

3

Should track previous Tracking No

3

Debtor's A/C..dr To Sales A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

General Ledger

3

Cost centre Tax deduction Account Number

2

Bill

2

Reconciled

2

Rejection outward

2

Four Units

2

Closing Stock

2

Deleted

2

within 25th of September

2

Main location

2

Track additional cost on purchase

2

Exporter of Service

2

Purchase A/C..dr X To Creditor X

2

2

Issue debit note to Debtors

2

AAAAA0000A

2

Yes

1

TRUE

1

Ledger wise report Primary Group TR6

1 1 1

Registered dealer

1

TRUE

1

TRUE

1

Use Actual & Billed QTY in entry Time of crediting payee's a/c Drawings A/c..dr X+Y To Purchase A/C X To Input VAT A/C Y

1 1 3

Shouldn't track previous Tracking No

3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

B&C

3

Goods received but bill not received

3

FALSE

2

TRUE

2

any value

2

Issue debit note to Debtors

2

B&C

2

Company-20 Others-10

2

TRUE

2

Agst Reference

2

All of the above Tax Deduction & CollectionAccount Number

2

Order

2

Narration field

2

Unreconsiled

2

Rejection Inward

2

Two units

2

26Q

1

Yes

1

Sub ledger Monthly 1. Deduction of Tax 2. Deposition of the same

1 1

Yes

1

A&B TRUE

1 1

TRUE

1

Quterly Bills received but Goods not received Equal to Bill date Drawings A/c..dr X+Y To Purchase A/C X To Input VAT A/C Y

1

2

1

3 3 3

Shouldn't track previous Tracking No

3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

B&C

3

within 25th of October

2

Track additional cost on purchase

2

Importer of Service

2

Purchase A/C..dr X+Y To Creditor X+Y

2

Issue Credit note to Debtors

2

AAAAA0000A

2

Regular

2

A&B

2

16

2

TRUE

2

Against Reference All of the above

2 2

On Account

2

All of the above Trading Goods

2 2

Registered dealer

1

Ledgerwise report

1

FALSE

1

TRUE

1

Use Actual & Billed QTY in entry

1

Considering A & B which ever is earlier Both view

1 1

Yes

1

Deductor

1

12B

1

Goods received but bill not received

Bills received but Goods not received Equal to Bill date Drawings A/c..dr X+Y To Purchase A/C X To Input VAT A/C Y Shouldn't track previous Tracking No F12

3

3 3 3

3 2

Alt+C

2

A &C

2

Purchase A/C..dr X+Y To Creditor X+Y

2

All items are having a same Sales/ Purchase a/c

2

Company-10 Others-10

2

Regular Dealer Capital Goods A/C.dr VAT on cap. Goods A/Cdr To Creditor A/c Cost Category: Advertisement Cost Centre: Daily news paper and Weekly Magazine A&B Item Creation

2

Alt+D

2

Yes

2

Issue credit note to creditors

2

Inventory 0.02

2 1

Yes

1

Yes

1

2

2 2 2

Input Vat> Output VAT

1

Order outstanding

1

Ficticious Assets Indirect tax

1 1

Yes

1

15

1

FALSE

1

Ques_I D 137 23 249 20 87 199 199 59 206 203 195 25

157

157

158

158 86 165 85 196 162 68 218

Question Answer Given BOI has to pay service tax Monthly Can we change method of showing Balance Sheet i.e Yes Liabilities/Assets or Assets/Liabilities Can we print a cheque from Tally? Yes Can we select same location for Yes Back up & Restore? Challan effects on Inventory Contra Entry supports only General Ledger Contra Entry supports only Cash Ledger Cost centres allow Revenue items Debit and Credit notes are mainly Inventory Effect used for Default Godown name is Main location Due date is always less than Bill TRUE date How to get details view of any Alt+F3 Report? If a regular dealer purchase a goods of Rs.1000 paid VAT Rs.400 Purchase A/C....dr Input what will be the entry in VAT A/C.dr To Creditor purchaser's book? If a regular dealer purchase a Purchase A/C....dr To goods of Rs.1000 paid VAT Rs.400 Input VAT A/C To Creditor what will be the entry in purchaser's book? If a regular dealer sold a goods of Debtor's A/C..dr To Sales Rs.1000 paid VAT Rs.400 what will A/c be the entry in seller's book? If a regular dealer sold a goods of Debtor's A/C..dr To Rs.1000 paid VAT Rs.400 what will Output VAT A/c be the entry in seller's book? Goods received but bill If Bill made before challan mean not received If capital goods are purchased by Capital Goods A/C..dr To paying VAT then what will be the Creditor A/c entry? Goods received but bill If Challan made before Bill means not received If cut off date is not given then Equal to Bill date Due date If goods are returned for Debit-Credit Note replacement. Use If machinery is sold for less than Profit on sale of it's WDV rest amount is treated as Machinery If rejection inward is treated as scrap for any goods-value of rest Increased of goods are to be

176

44 16 76 153 39 19 15 58 64 72 115 70 32 216

If Rs.3000 is paid for Cost Category: advertisement in Daily News Advertisement Cost paper and Rs.1700 in Weekly Centre: Daily news paper Magazine.So cost centre and and Weekly Magazine category allocation will be If you can't give quantity for any Item name item means you have missed Ignoring - Allow advance entries Comapany Information in Masters will bolcked Inter godown transfer is allowed TRUE in Tally Is there any statutory chages has Yes to made in Tally for passing entry of Unregistered dealer? Ledger can be divided under Cost Centre One ledger is having transaction value of Rs. 20000 can you delete Yes the same ledger? Online Ledger creation doesn't Drawback of Tally support opening balance because Pre defined cost centres are Fixed expenses allowed for Receipt mode is used for Receipt made from party Tally supports unit of Simple measurement as TAN application is made by 43B Trial Balance shows transaction value in Debit- Credit separate TRUE column Unallocated amount for parties in Advance treatment opening balance is treated as Zero value entry works for Accounting Voucher

Correct Answer Quterly

Mark s 1

Yes

2

Yes

1

Yes

1

Inventory B&C B&C A&B

2 3 3 3

B&C

2

Main location FALSE

2 2

Alt+F1

1

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Bills received but Goods not received Capital Goods A/C.dr VAT on cap. Goods A/Cdr To Creditor A/c Goods received but bill not received

FALSE

FALSE FALSE FALSE FALSE TRUE FALSE FALSE FALSE FALSE FALSE FALSE

TRUE

FALSE

3 2 3

Equal to Bill date

3

Rejection in-out

2

Loss on sale on Machinery

2

Increased

2

TRUE

FALSE FALSE

FALSE FALSE FALSE FALSE FALSE

FALSE

Cost Category: Advertisement Cost Centre: Daily news paper and Weekly Magazine

2

Item Quantity

2

Company Features will bolcked

3

TRUE

1

No

1

A&B

1

No

1

B&C

3

Fixed expenses

2

All of the above

2

Both A &B

1

49B

2

TRUE

1

On Account

3

All of the above

2

FALSE FALSE FALSE FALSE

FALSE FALSE

FALSE FALSE FALSE FALSE FALSE FALSE

FALSE FALSE FALSE

Ques_I D 14 15 16 18 19 20 22 23 24 25 30 31 32 33 34 35 37 39 40 41 42 43 44 45 46 47 48 49 50 51

Question Answer Given Can we put opening balance on online Yes ledger creation? Online Ledger creation doesn't support Drawback of Tally opening balance because Ignoring - Allow advance entries in Comapany Information will Masters bolcked What is the shortcut key to delete a Alt+E ledger? One ledger is having transaction value of Rs. 20000 can you delete the same Yes ledger? Can we select same location for Back up Yes & Restore? Balance Sheet view is available in Vertical View Can we change method of showing Yes Balance Sheet i.e Liabilities/Assets or Assets/Liabilities Does Tally allow working capital in Yes Balance sheet How to get details view of any Report? Alt+F1 Can we show both Profit or Loss as Yes liability What is the use of - Show both Profit or Profit or loss balance always Loss as Liability shows in Liability side Unallocated amount for parties in Advance treatment opening balance is treated as Naration is mandatory for Tally TRUE Cheque number comes under Date field Credit field allows first in Receipt entry Cutoff date support for which group Sundry Debtors Ledger can be divided under Cost Centre BRS done by Uncleared ch. Value Address for godowns allows from F11-F2 Last step of inventory Information is Item Creation Which field is compulsory for item Item Group creation If you can't give quantity for any item Item name means you have missed If you want to declare Trade Discount in Reduce the rate manually sales bill Advance receipt from party will be Sales Voucher passed through Which option is use to create online Alt+C ledgers? Does Tally allow additional descrition for No Ledger and Items Trial Balance shows Group wise Report Party's bill wise outstanding report is Balance Sheet showing from If one party's all outstanding is cleared Balance Sheet report shown from

54 58 59

What is meant by Use common ledger Each item is having a account for A/c for item allocation--Yes separate Sales/ Purchase a/c Pre defined cost centres are allowed for Fixed expenses Cost centres allow Revenue items

62

Contra mode is used for

Receipt from bank

63 64 66

Payment made to party Receipt made from party Trading Goods

79 80

Payment mode is used for Receipt mode is used for Sales mode is used for sales of If machinery is sold for more than it's WDV excess receipt is treated as If machinery is sold for less than it's WDV rest amount is treated as Trial Balance shows transaction value in Debit- Credit separate column Does Trial Balance shows Difference in opening balance Tally supports unit of measurement as Rate means price of per If any entry is exist with any item it can be Inter godown transfer is allowed in Tally If goods transferred from one to another location carring cost will be added by "Source - is used as outward godown and ""destination"" is used as inward godown" In Alternate unit Tally supports Standard Rate can be defined for

84

If rejection-in is treated as scrap

85

If Challan made before Bill means

86

If Bill made before challan mean

67 68 70 71 72 74 75 76 77 78

87 90 91 92 93 95 96 98

Loss on sale on Machinery Profit on sale of Machinery TRUE No Simple Category of Items B&C TRUE Track additional cost on purchase FALSE Three units Standard cost Should track previous Tracking No Bills received but Goods not received Bills received but Goods not received Inventory

Challan effects on Entry for return of goods always follows Advance which reference? In which this option should be positive B&C Inventory values are affected If sales bill made for Rs. 5000 but it Issue debit note to Debtors should be made for 4500 what to do? If sales bill made for Rs. 4590 but it Issue Credit note to Debtors should be made for 4950 what to do? If Purchases bill made for Rs. 12160 but Issue credit note to creditors it should be made for 11620 what to do? If Order made but Challan is not yet Challan outstanding cleared what will show in the report? If 2 pcs of Ball pens are given as free with 4 boxes of CD pk how could you Use Zero(0) valued entries pass the entry?

99 102 104 105 106 107 108 109 110

If 1 pc of eraser is free with 1 dozen of eraser pk how could you pass the entry? Income of previous year is assessed in the All kinds of payments are liable to deduction of Tax What is Tax deduction rate of Interest on securities ? What is Tax deduction rate of commission or brokerage ? Liability to deduct tax is always on the The tax liability is a combibation of dual liability If tax is not deducted the expenditure should be What is the receipt/ gross turnover limit of Individuals and HUF to deduct tax

112

The payer should deduct tax

113

Full form of TAN

115

TAN application is made by If the employee has worked under more than which form need to furnish? What is the Return Form of Interest on deposites ? Configuaration of PAN No Exception of Tax deposition in TDS is applicable applicable on Which form need to be furnish incase of tax deduction on Salary amount Service tax is a Service tax rate is No Service tax is payable when service is Refund of service tax paid on input services is available if taxable service is exported If any service is imported who will be liable to pay tax on service? Which one is Service Tax return? What is the challan of service tax payment What is the due date of service tax return for first half year AOP has to pay service tax BOI has to pay service tax Company has to pay service tax All composition dealers should be Registered dealer All tax rates are available for

117 118 119 122 123 124 125 128 129 130 133 134 135 136 137 138 143 144

Use Actual & Billed QTY in entry Assessment year FALSE Company-10 Others-20 Company-10 Others-10 Deductee 1. Deposition of Tax 2. Depositing the challan Disallowed 11 lacs Considering A & B which ever is earlier Tax Collection Account Number 43B 12B 27Q AAAAA0000A last day of every month 16 Direct tax 10%+0.2%+0.1% Locally purchased FALSE Importer of Service ST3 TR6 within 25th of October Quterly Monthly Quterly FALSE Unregistered dealer

148

148 149 150 152 153

156

157

158

159 161 162 164 165

167 168 169 170 172 173 174

If an unregistered dealer purchase Purchase A/C..dr X+Y To goods of Rs. X paying VAT Rs. Y what Creditor X+Y will be the entry? If an unregistered dealer purchase Purchase A/C..dr X To goods of Rs. X paying VAT Rs. Y what Creditor X will be the entry? A composite dealer doesn't have to FALSE maintain regular books of accounts If a composite dealer purchase goods of Purchase A/C..dr X To Rs. X paying VAT Rs. Y what will be the Creditor X entry? Composite Dealer can cliam input tax FALSE Is there any statutory chages has to made in Tally for passing entry of Yes Unregistered dealer? If a delear stood as unregistered till October2008 composite- December 2008 on January2009 he becomes Composite Regular then what will be the status of that particular dealer in the year of 2009-10 financial year If a regular dealer purchase a goods of Purchase A/C....dr Input VAT Rs.1000 paid VAT Rs.400 what will be A/C.dr To Creditor the entry in purchaser's book? If a regular dealer sold a goods of Rs.1000 paid VAT Rs.400 what will be Debtor's A/C..dr To Sales A/c the entry in seller's book? Can we pass different items with different VAT rate in a single voucher in Yes Tally? Direct expenses paid in single purchase Value wise bill will be alloacted as If goods are returned for replacement. Debit-Credit Note Use VAT carryforward / refundable means Input Vat< output Vat If capital goods are purchased by paying VAT then what will be the entry?

Capital Goods A/C..dr To Creditor A/c

If proprietor has taken goods of Rs. X for Drawings A/c..dr X To his personal use. Input vat is Rs. Y. What Purchase A/C X will be the entry? What is the present CST rate 0.03 Every dealer who makes an inter-state Unregistered dealer sale must be Central sales Tax is leviable if the gross > Rs. 500000 < Rs1000000 turn over is Cost centres and categories are used for Expenses Class names are compulsory for Pre FALSE defind cost center allocation Does Tally support more than one Yes predefined cost centres

176 177 179 180 181 182 183 184 185 186 187 188 192 193 195 196 197 198 199 200 202 203 205 206 208 209 210 211 214 216

If Rs.3000 is paid for advertisement in Cost Category: Daily News paper and Rs.1700 in Weekly Advertisement Cost Centre: Magazine.So cost centre and category Daily news paper and Weekly allocation will be Magazine Incase of BRS we need to put only Cheque No If any cheque of April cleared on May. In Unreconsiled the month of April BRS report will shown Total number of Primary groups is Tally 13 is All Primary groups are created underFALSE PRIMARY All Secondary groups are created under FALSE any Primary groups Online ledger creation supports-Ledger Secondary Group created under Does Tally support ledger creation under Yes Primary group except the default? More than one companies backup can TRUE be stored in a single TBK file Sundry creditor in Tally is a Sub group Sundry creditor in Tally falls under Current Liabilities Sundry Debtors in Tally falls under Primary Group Goodwill is Ficticious Assets If Party ledger balance and billwise break up is not matched. The difference Advance is treated as Due date is always less than Bill date TRUE If cut off date is not given then Due date Equal to Bill date There is a few differences between Due TRUE Date and Credit Days Contra entry Supports other than TRUE Cash/Bank ledger Contra Entry supports only General Ledger Product Category is mandatory for Item TRUE creation Tally has its Default Godown No Default Godown name is Main location Can we alter defined credit limit for a No customer-if previous entry is passed with the same? Debit and Credit notes are mainly used Accounting Effect for If sold goods are rejected entry will be Rejection Inward passed from Goods returned entry always follows New Reference Can we see the Stock inward outward Yes report from Stock Summary Which entry doesn't have any financial Return effect Budget can be maintained on Ledger Zero value entry works for Accounting Voucher

218 220 249 271 272 273 274

If rejection inward is treated as scrap for any goods-value of rest of goods are to be Nett available considers Sales order Can we print a cheque from Tally? Incase of Purchase or Sales order godown will be Track additional cost of purchase affects product rate Track additional cost of purchase Can we issue single bill for more than one challans?

Increased FALSE Yes Any TRUE Increase rate of Stock No

Correct Answer

Marks

No

1

B&C

3

Company Features will bolcked Alt+D

3 2

No

1

Yes

1

Both view

1

Yes

2

Yes

2

Alt+F1 Yes Profit or loss balance always shows in Liability side

1 1

On Account

3

FALSE Narration field B&C A&B A&B Cheque clearing date F12 Item Creation A &C

1 2 2 2 1 1 2 2 2

Item Quantity

2

Use discount column

2

Receipt Voucher

2

Alt+C

2

Yes

1

A&B Outstanding--> Receivables/Payables

1

Ledgerwise report

1

3

1

All items are having a same Sales/ Purchase a/c Fixed expenses A&B Cash- bank/ Bank-bank transfer All of the above All of the above Trading Goods

2 2 3 2 2 2 2

Profit on sale of Machinery

2

Loss on sale on Machinery

2

TRUE

1

Yes

1

Both A &B Unit of Items Deleted TRUE Track additional cost on purchase

1 2 2 1

TRUE

1

Two units A&B Shouldn't track previous Tracking No Goods received but bill not received Bills received but Goods not received Inventory

2 2

Agst Reference

2

Closing Stock

2

Issue Credit note to Debtors

2

Issue debit note to Debtors

2

Issue credit note to creditors

2

Order outstanding

1

Use Zero(0) valued entries

1

2

3 3 3 2

Use Actual & Billed QTY in entry Assessment year

1 2

FALSE

2

Company-20 Others-10

2

Company-10 Others-10

2

Deductor 1. Deduction of Tax 2. Deposition of the same

1

Disallowed

2

10 lacs

1

Time of crediting payee's a/c Tax Deduction & CollectionAccount Number 49B

1

1 2 2

12B

1

26Q

1

AAAAA0000A

2

last day of accounting year

2

16

2

Indirect tax 10%+0.2%+0.1% Exported

1 1 2

TRUE

2

Exporter of Service

2

ST3 GAR7

1 1

within 25th of October

2

Quterly Quterly Monthly

1 1 1

TRUE

1

Regular Dealer

2

Purchase A/C..dr X To Creditor X

2

Purchase A/C..dr X+Y To Creditor X+Y

2

TRUE

2

Purchase A/C..dr X+Y To Creditor X+Y

2

FALSE

1

No

1

Regular

2

Purchase A/C....dr Input VAT A/C.dr To Creditor

3

Debtor's A/C..dr To Sales A/c To Output VAT A/c

3

Yes

1

A or B

1

Rejection in-out Input Vat> Output VAT Capital Goods A/C.dr VAT on cap. Goods A/Cdr To Creditor A/c Drawings A/c..dr X+Y To Purchase A/C X To Input VAT A/C Y 0.02

2 1

Registered dealer

1

any value

2

All of the above

2

TRUE

1

Yes

1

2

3 1

Cost Category: Advertisement Cost Centre: Daily news paper and Weekly Magazine Bank Date

2 2

Unreconsiled

2

15

1

TRUE

2

TRUE

1

Secondary Group

2

Yes

2

TRUE

2

Sub ledger Current Liabilities Current Asets Ficticious Assets

1 2 1 1

On Account

2

FALSE Equal to Bill date

2 3

FALSE

1

FALSE

1

B&C

3

FALSE

1

Yes Main location

1 2

Yes

1

B&C

2

Rejection Inward

2

Against Reference

2

Yes

2

Order

2

All of the above All of the above

2 2

Increased

2

TRUE Yes

1 1

Main location

2

TRUE

1

Increase rate of Stock

2

Yes

1