Tally MCQs

Question 1

Which of the following is compulsory to create while entry in Accounts with Inventory

Accepted Answer

All of these

Answer

Stock Groups

Answer

Stock Items

Answer

Units of Measure

Question 2

'Inventory books' is used to view

Accepted Answer

Both A and B above

Answer

Stock Items

Answer

Group Summary

Answer

None of these

Question 3

Trial balance is prepared on ________ basis

Accepted Answer

Any of the above

Answer

Monthly

Answer

Annually

Answer

Half yearly

Question 4

A ________ serves the purpose of both journal and ledger accounts

Accepted Answer

Cash book

Answer

Journal proper

Answer

Purchase day book

Answer

Any of the above

Question 5

The rate of trade discount varies with the ________ purchased

Accepted Answer

Quantity

Answer

Total asset

Answer

Current asset

Answer

None of these

Question 6

A 'credit note' is sent by ________ to ________

Accepted Answer

Seller, buyer

Answer

Buyer, seller

Answer

Customer, seller

Answer

Creditor, seller

Question 7

A trial balance is a ________

Accepted Answer

List

Answer

Ledger

Answer

Journal

Answer

Account

Question 8

Sales return are recorded in ________ Voucher

Accepted Answer

Credit note

Answer

Sales voucher

Answer

Debit note

Answer

Receipt

Question 9

ERP stands for

Accepted Answer

Enterprise resource planning

Answer

Economic resource planning

Answer

Efficient resource planning

Answer

Economic resource processing