Tally Tally (1) Who are the Owners of Indian Oil Industries Pvt. Ltd.? Mr.Bharat Goenka and Prakash Mittal Mr. Sham Agrawal and Ram Agrawal Mr. Sham Agrawal and Prakash Mittal Mr. Sham Agrawal and Prakash Mittal Tally Tally (2) Construction Expenses comes under? Indirect Expenses Misc. Expenses (Assets) Direct Expenses Misc. Expenses (Assets) Tally Tally (3) Purchase Assets from Star Machineries Pvt. Ltd.by Paying Part Payment,Which Function key is use for the transaction? F9 Purchase F5 Payment F7 Journal F7 Journal Tally Tally (4) Which option is set to Yes in F12 Configuration to Activate Alternate Units? Use ALTERNATE UNITS for Stock Items Set ALTERNATE UNITS for Stock Items Activate ALTERNATE UNITS for Stock Items Use ALTERNATE UNITS for Stock Items Tally Tally (5) Crude (Raw) Oil Stock Item comes under ________ Stock Group? Finished Goods Processing Goods Raw Material Raw Material Tally Tally (6) Freight Charges Comes under? Misc. Expenses Expenses Direct Expenses Indirect Expenses Direct Expenses Tally Tally (7) Which Shortcut Key is used to change from Accounts Invoice Mode to Item Invoice Mode? Alt + I Alt + V Ctrl + V Alt + I Tally Tally (8) To Activate Purchase Order which option is set to Yes in F11 Features ? Allow Purchase Order Processing Allow Order Processing Allow Purchase Order Processing and Sales Order Processing Allow Purchase Order Processing Tally Tally (9) Processing Journal Comes under which type of Voucher ? Journal Stock Journal None of Above Stock Journal Tally Tally (10) Which Function key is used for Physical Stock ? F10 Alt + F10 Ctrl + F10 Alt + F10 Tally Tally (11) Choose Correct Option from the following options ? Purchase Order is a Inventory Voucher Which effect on Inventories. Purchase Order is a Inventory Voucher Which effect on Financial Record. Order Processing is linked with Inventories. Order Processing is linked with Inventories. Tally Tally (12) Packing Material Comes Under ? Fixed Assets Direct Expenses Indirect Expenses Indirect Expenses Tally Tally (13) Soya Seed Oil is made by Crude (Raw) Oil ? True False True Tally Tally (14) Batch wise Details are used ? To Maintain Batch or Lot Number To Maintain Manufacturing Dates and Expiry Dates Both Both Tally Tally (15) Where you can activate Batch wise Details ? Accounting Features Inventory Features Configuration Inventory Features Tally Tally (16) Where you can view Display of Batch wise details ? Gateway of Tally -> Display -> Inventory Books -> Batch Gateway of Tally -> Display-> Statements of Inventory -> Batch Gateway of Tally -> Stock Summary Gateway of Tally -> Display -> Inventory Books -> Batch Tally Tally (17) Predefined Cost Centres are use to ? Save time and work Calculate Cost centres Amounts Percentage wise Both Both Tally Tally (18) To Maintain Predefined Cost Centres which option is set to "Yes" ? Maintain Cost Centres Maintain Cost Categories Use Predefined Cost Centre Allocations during Entry Use Predefined Cost Centre Allocations during Entry Tally Tally (19) Predefined Cost Centers are maintained ? Percentage wise Amount wise Area wise Percentage wise Tally Tally (20) Where you can view Order Pending Reports ? Display -> Statements of Inventory -> Purchase Order Summary Display -> Inventory Books -> Purchase Order Summary Display -> Statements of Inventory -> Purchase Bill Pending Display -> Statements of Inventory -> Purchase Order Summary Tally Tally (21) Where you can Activate Tracking Number ? Inventory Features Accounting Features Configuration Inventory Features Tally Tally (22) Which option is set to "Yes" to "Activate Tracking Numbers"? Activate Tracking Numbers(Delivery/ Receipt Notes) Use Tracking Numbers(Delivery/ Receipt Notes) Allow Delivery and Receipt Notes Use Tracking Numbers(Delivery/ Receipt Notes) Tally Tally (23) What is the function key for Receipt Note ? Alt + F6 Alt + F9 Ctrl + F9 Alt + F9 Tally Tally (24) Tracking Number is the important link between.......and........ ? Payment and Receipt Accounting and Maintenance Accounting and Inventory Accounting and Inventory Tally Tally (25) Where you can view report of Tracking Numbers ? Display -> Inventory Books -> Purchase Bills Pending Display -> Statement of Inventory -> Purchase Bills Pending Display -> Statements of Accounts -> Purchase Bills Pending Display -> Statement of Inventory -> Purchase Bills Pending Tally Tally (26) "Bill Received but goods not Received",which function key is used for the entry ? Alt + F9 Receipt Note F6 Receipt F9 Purchase F9 Purchase Tally Tally (27) Which function key is used for Rejection Out ? Ctrl + F6 Alt + F6 Alt + F9 Alt + F6 Tally Tally (28) Rejection Out is used for ? Goods Return which was Dilivered Goods Return which was Received Goods Return which was Purchase Goods Return which was Received Tally Tally (29) Which option is set to Yes to view the godown wise details ? View Godown wise details Show Godown wise details Allow Godown wise details Show Godown wise details Tally Tally (30) Where you can Activate Godown wise details ? In F11 Features In F12 Configuration All of Above In F11 Features Tally Tally (31) What is the function key for Packing Journal ? F7 Alt + F7 Ctrl + F7 Alt + F7 Tally Tally (32) Which option set to Yes in F11 Company Features, to use more than one currency ? Activate Multi Currency Use more than one currency Allow Multi Currency Allow Multi Currency Tally Tally (33) No need to create Currency for the use of Multi Currency ? True False Some TImes False Tally Tally (34) Can you delete Currency after using it in Vouchers ? Yes No Some TImes No Tally Tally (35) You can apply Currency in Ledger only ? True False Some TImes False Tally Tally (36) __________ Nature of transaction use for Sales Export ? Exports Taxable Sales to SEZ- LUT/Bond Exports LUT/BOnd Exports LUT/BOnd Tally Tally (37) Where you can view the Display of Multi Currency ? Display -> Accounts Books -> Ledger Display -> Statements of Accounts -> Outstandings None of Above None of Above Tally Tally (38) Which option is set to "No" for the transaction of Receipt of Other Currency ? Post-Allocate Bills for Payment/ Receipt/ Journal Voucher Pre-Allocate Bills for Payment/ Receipt/ Journal Voucher Pre-Allocate Bills for Payment/ Receipt Voucher Pre-Allocate Bills for Payment/ Receipt/ Journal Voucher Tally Tally (39) Physical Stock is Used for ? To maintain damage Stock To make stock Adjustment Both Both Tally Tally (40) Where you can view the Report of Physical Stock ? In Stock Summary Display -> Inventory Books -> Physical Stock Register Both Display -> Inventory Books -> Physical Stock Register Tally Tally (41) Forex Gain/Loss Account Comes under ? Duties and Taxes Indirect Inomes Indirect Expenses Indirect Inomes Tally Tally (42) Which option is set to Yes in Voucher Class Creation Screen for Forex Gain/ Loss ? Use class for Profit and Loss Adjutment Use class for Forex Gain/Loss Adjustment Use class for Interest Adjustment Use class for Forex Gain/Loss Adjustment Tally Tally (43) A _______ is a primary document for recording all financial transactions? Vouchers Ledgers Reports Vouchers Tally Tally (44) "Allow components list details (Bill of Materials)" option is activated for? Ledgers Cost Category Stock Items Stock Items Tally Tally (45) Recording of actual stock as physically verified or counted is done through? Journal Stock Journal Physical Stock Physical Stock Tally Tally (46) Construction Expenses Written off Comes Under ? Direct Expenses Fixed Assets Indirect Expenses Indirect Expenses Tally Tally (47) Where you can make Balance Sheet in Vertical Format ? F11 Features F12 Configuration Shift + Enter F12 Configuration Tally Tally (48) Which option is set to Yes for Vertical Format of Balance Sheet ? View in Vertical Format Set Vertical Balance Sheet Show Vertical Balance Sheet Show Vertical Balance Sheet Tally Tally (49) Liability side is known as .........in Vertical Format of Balance Sheet ? Application of Funds Sources of Funds Liabilities of Funds Sources of Funds Tally Tally (50) Which of the following is the predifined stock category in Tally? Primary Cost Category Main Location Primary Primary Tally Tally (51) Which of the following is compulsory to create while in Accounts with Inventory? Stock Groups Unit of Measure Both Both Tally Tally (52) Trial Balance is prepared on _________ Basis? Monthly Half Yearly Any of Above Any of Above Tally Tally (53) How many types of Measurement Units we can create in Tally? 1 2 3 2 Tally Tally (54) What is the TDS exemption limit for professional fees like Audit fees, Consultancy fees, Training fees? 15,000/- 20,000/- 30,000/- 20,000/- Tally Tally (55) By default, which mode is on in Purchase and Sales voucher? Normal Mode Item Mode Particular Mode Item Mode Tally Tally (56) Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc.? Kgs. Nos. Ltrs. Kgs. Tally Tally (57) Which of the following equation is true for Balance Sheet? Assets = Liabilities + Capital Capital = Assets – Liabilities All of Above All of Above Tally Tally (58) Is it necessary to give PAN/IT number of Party in TDS at the time of ledger creation screen? Yes No Yes Tally Tally (59) What happen if PAN/IT Number will not entered in ledger creation screen of party ? The rate of TDS will be changed Tally will not Calculate the TDS with the Real Rate of Category Selected Both Both Tally Tally (60) Inventory Management comprises of ___________? Delivery In Delivery Out All of Above All of Above Tally Tally (61) What is MRP? Maximum Retail Price Minimum Retail Price Market Retail Price Maximum Retail Price Tally Tally (62) BOM stands for? Billing of Machines Bill of Maintenance Bill of Materials Bill of Materials Tally Tally (63) Which shortcut key is use to change As Invoice and As Voucher format in Purchase or Sales Voucher ? Ctrl + V Ctrl + I Alt + I Ctrl + V Tally Tally (64) 'Inventory Books' is used to view? Group Summary Stock Query Cost Estimation Group Summary Tally Tally (65) Which menu is used to create new ledgers, groups and voucher types in Tally? Transactions Reports Masters Masters Tally Tally (66) TDS Stands for ? Tax Declared Source Tax Deducted at Source Tax Depend on Source Tax Deducted at Source Tally Tally (67) TAN Stands for ? Tax Account Number Tan Assessment Number Tax Assessment Number Tax Assessment Number Tally Tally (68) Which option is set to Yes in F12 Configuration to alter TDS Rate in Voucher entry ? Allow Alteration of TDS Rates for Lower deductions Allow Alteration of TDS Rates Set Alteration of TDS Rates for Lower Rate Allow Alteration of TDS Rates for Lower deductions Tally Tally (69) Where you can view TDS Reports ? Display -> Statutory Reports -> TDS Reports Display -> Statutory Reports -> TDS Reports -> Computation Display -> Statutory Info -> TDS Reports Display -> Statutory Reports -> TDS Reports -> Computation Tally Tally (70) Which section no. is use for no deduction in TDS ? Section No. 195A Section No. 196A Section No. 197A Section No. 197A Tally Tally (71) Where you can display TDS outstanding ? Display -> Statutory Info -> TDS Outstanding Display -> Accounts Books -> TDS Outstanding Display -> Statutory Reports -> TDS Reports -> Outstandings Display -> Statutory Reports -> TDS Reports -> Outstandings Tally Tally (72) Where you can display TDS Deductee Types ? Display -> Statement of Accounts -> Deductee Types Display -> Statutory Info -> Deductee Types Display -> Statutory Report -> Decutee Types Display -> Statutory Info -> Deductee Types Tally Tally (73) To view TDS Form 17 Challan Printing,which option is set to No from Voucher Printing Screen ? Print as TDS Challan Print Chalan No ITNS 281 Print as TDS Challan ITNS 281 Print Chalan No ITNS 281 Tally Tally (74) Where you can make TDS the Challan Reconciliation ? Display -> Statutory Reports -> TDS Reports -> Challan Reconciliation Display -> Statutory Reports -> TDS Reports Display -> Statements of Accounts -> Outstandigs -> TDS Challans Display -> Statutory Reports -> TDS Reports -> Challan Reconciliation Tally Tally (75) Which Shortcut key is used to set challan Reconcil Details in TDS Reconciliation Screen ? Ctrl + S Alt + S Alt + R Alt + S Tally Tally (76) The number of primary groups in Tally are? 15 21 28 15 Tally Tally (77) Which state became the first state of India to ratify GST bill? Bihar Assam Andhra Pradesh Andhra Pradesh Tally Tally (78) Term loans and other medium/long term loans comes under ________ Group? Unsecured Loan Secured Loan Loan and Advances Loan and Advances Tally Tally (79) The tax IGST is charged by _______ Government? Central State Both Central Tally Tally (80) Soya Seed comes under which GST rate structure? 0 % 5 % 18 % 5 % Tally Tally (81) TCS Stands for ? Tax Count on Sales Tax Collected at Source Total Collection at Source Tax Collected at Source Tally Tally (82) Select the right answer from the following options. ? You can't activate TCS in F11 Features You can activate TCS in Ledger Creation also You can activate TCS in Stock Item Creation also You can activate TCS in Ledger Creation also Tally Tally (83) Where you reconcile TCS 27D Form ? Display -> Statutory Info -> TCS Report -> Select TCS Party Ledger Display -> Statutory Report -> TCS Report -> Select TCS Party Ledger Display -> Account Books -> Ledger -> Select TCS Party Ledger Display -> Account Books -> Ledger -> Select TCS Party Ledger Tally Tally (84) Where you can view the TCS Outstanding Reports ? Display -> Statutory Report -> TCS Reports Display -> Statement of Accounts -> TCS Outstanding -> TCS Payable Display -> Account Books -> Ledger -> Outstandings Display -> Statement of Accounts -> TCS Outstanding -> TCS Payable Tally Tally (85) Which shortcut key is use for reconciliation of Form 27D ? Ctrl + F4 Ctrl + F5 Ctrl + F6 Ctrl + F5 Tally Tally (86) Which shortcut key is use for TCS filter ? Alt + F Alt + S Alt + R Alt + R Tally Tally (87) Which section number is use for Lower/No collection applicable in TCS? Section No. 205C Section No. 206C Section No. 207C Section No. 206C Tally Tally (88) Choose the correct steps from following to create TCS Nature of Goods? Gateway of Tally -> Accounts Info. -> Statutory Info -> TCS Nature of Goods -> Create Gateway of Tally -> Inventory Info. -> Statutory Info -> TCS Nature of Goods -> Create Gateway of Tally -> Display -> Inventory Books -> TCS Nature of Goods -> Create Gateway of Tally -> Inventory Info. -> Statutory Info -> TCS Nature of Goods -> Create Tally Tally z(89) Where is the activation of VAT in Tally? Accoutning Features Inventory Features Statutory and Taxation Statutory and Taxation Tally Tally (90) TCS is not Applicable while creating ledger of Sales @ 25 %? True False Some Times False Tally Tally (91) Where you can activate Payroll in Tally.ERP9 ? In F12 Configuration In F11 Features In Ledger Creation/ Alteration Screen In F11 Features Tally Tally (92) Choose the Correct sentense from the followings ? You can activate Payroll from F11 Accounting Features only You have to Activate Payroll from Accounting Features and Statutory and Taxation Payroll do not need Activation in Tally.ERP9 You have to Activate Payroll from Accounting Features and Statutory and Taxation Tally Tally (93) Where you can create Pay heads ? Gateway of Tally -> Accounts Info -> Pay Heads -> Create Gateway of Tally -> Payroll Info -> Pay Heads -> Create Both Gateway of Tally -> Payroll Info -> Pay Heads -> Create Tally Tally (94) Gratuity comes under ? Current Liability Indirect Expenses Provision Provision Tally Tally (95) Which function is use for Attendence Voucher ? Alt + F5 Ctrl + F5 Ctrl + F4 Ctrl + F5 Tally Tally (96) Which Shortcut key is used to autofill overtime details ? Alt + A Ctrl + A Alt + O Alt + A Tally Tally (97) Professional Tax comes under ? Duties and Taxes Current Liabilities Indirect Expenses Current Liabilities Tally Tally (98) Where you can create Salary Details ? Gateway of Tally -> Payroll Info. -> Salary Details -> Create Gateway of Tally -> Accounts Info. -> Salary Details -> Create None of Above Gateway of Tally -> Payroll Info. -> Salary Details -> Create Tally Tally (99) Where you can view Payslip ? Display -> Payroll Reports -> Statutory Reports -> Computation Display -> Payroll Reports -> Statements of Payroll -> Payslip Both Display -> Payroll Reports -> Statements of Payroll -> Payslip Tally Tally (100) Which Function key used for Payroll Voucher ? Alt + F4 Alt + F5 Ctrl + F4 Ctrl + F4

WELCOME TO ONLINE EXAM OF " MODULE III " ! AT THE END OF THE TEST RESULTS WILL BE GIVEN OUT PLEASE CHECK IT OUT!





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