1. The Profit & Loss statement can be displayed in ----------- ----- format(s).

A. Horizontal

B. Vertical

C. A or B

D. None of the above

Answer: (C)

2. Default ledger accounts in tally are ______

A. Balance sheet & profit & loss profit & loss and trial balance

B. Profit & loss and trial balance

C. Cash and profit & loss

D. Cash and bank

Answer: (C)

3. Default 'godown' name in tally is ____________

A. Primary

B. Main location

C. A or b

D. None of the above

Answer: (B)

4. 'Tally vault' is a _________________

A. Security mechanism

B. Ledger a/c

C. Cost category

D. None of the above

Answer: (A)

5. To create a sales voucher in tally, you have to press _______

A. F5

B. F7

C. F8

D. F9

Answer: (C)

6. A Group Company is ------------------------- given to the merged accounts of member companies of the group.

A. a name

B. an identity

C. A and B

D. None of the above

Answer: (C)

7. In tally you get currency symbol option from _______ menu

A. Company creation

B. Stock items units

C. Regional setting

D. None of the above

Answer: (A)

8. Which of the following can be budgeted in tally?

A. Net Transactions

B. Closing Balance

C. Closing Balance

D. A and B

Answer: (D)

9. Which of the following can be budgeted in tally?

A. Net Transactions

B. Closing Balance

C. Closing Balance

D. A and B

Answer: (D)

10. Which of the following shows daily balance for a selected voucher type?

A. Daybook

B. Trial Balance

C. Balance Sheet

D. None of the above

Answer: (A)