TALLY QUESTIONS

1.  U.T.G.S. stand for 
        union territory goods and service tax 

2.  ITc Is one the 
       input tax credit

3.  service tax filled by
     both of service provider and service income

4.  e way bill passed in the years of
     1april 2018
      
5.  e way bill imposed for 
   goods transport in intra state

6.  e way bill can imposed the amount of 
    >50000rs

7. the 1st version of tally released in the years of
    1988

8. transaction are to be recorded
   both

9. financial accounting prepared income statement during the
    year

10.  cost accounting depended of the
   cost of production 

11. fix assets remain in the business for 
     long time

12.  cash in hand is one of the
     current assets 

13.  a person who own the business is called 
     Proprietor

14. transaction are the activities of business 
    Cash& credit   
     
15.  in credit transaction 
        

16.   difference between revenue and expenses is called
    income

17. unsold good laying in the business is called
     stock

18.  sharing a any groups of person is called 
    business entity

19. due to the death of the debtor is called
     Baddebth

20.  real account comes under types
   tangible account type

21. life insurance comes under groups  
     capital account

22. payment of money by cash, cheque, bank transfer to be recorded in tally 
        f5

23. voucher no. generated in 
      Invoice

24. voucher narration field using for 
      transaction briefly

25.  full form of tally is
   total accounting leading list years

26. command of physical stock
   alt+f10

27. sale tax taken from which department
       sale tax



28. when we transfer our stock one state to another, used 

     f form



29.  tin no. stand for 

    tax identification no.



30. form 38 using 

      uttrakhand to Noida



31. drawing account is one of the 

  personal account



32. those amount which never received from debtor

   bad debt



33. money measurement concept expressed the term of money are recorded in 

      account book



34. if a company  which to place on order with the suppliers for some good, used

      purchase order



35.  a customer place order with company for purchasing goods

      sale order



36. command for rejection outwaed

     alt+f6



37.  command for physical stock is
     
      alt+f10



38. storage point where stock item are stored called

       godown



39. any expenses and loss item not includes in the category is called

        depriciation



40.  goods remaining end of the account years is called

       closing stock



41.  direct expense is the example of
      coal ,gas ,water ,fuel, factory expense,good carriage , freight (inward),octori duty 
     
   



42.   statement that prepared at the end of the accounting period called

     financial accounting

43.  command for saving voucher press 
       


44.  non cash transaction enter in tally 

       journal



45.  capital means 

     investment of business


46. internal user of accounting are 

     managment and supplier



47.  exporting tally date to excel spread sheet press 

       alt +E

48.  command for change the voucher date press 

F2



49.   hsn code in tally is called 

        product code



50. configuration for discount enabling in tally is 

      f12



51.  command for calculator in tally erp is 

  ctrl+n



52. open bank account in bank of India with rs50000. entry will be 

    contra



53.  memo voucher are 

  Non accounting voucher



54. out standing expenses called 

    unpaid



55.  bank reconciliation

Displayed the statement& balance at bank



56. grn is one of the 

Goods receive note



57. book keeing 

all book of accounts



58. full form of erp is 


enterprises resources planning


59.  municipal corporation when enter the goods city or town is charged

Toll tax



60.which sub mean is used to create new ledger, group and voucher in tally 

  accounting info



61. what voucher is pure inventory voucher

  delivery note



62. which is the following company developed tally package

   tally solution pack



63. key used to print of any report in tally

  alt+p



64.  short cut provided to shut or opened company 

   alt+f1



65. the head quarter of gst council is located t 

New delhi



66. which 1st sate rectified the gst bill

    assam



67.   gst was introduced as the amendment act

      101



68. who is the chairman of gst council

   Nirmla sita raman



69.  in which year gst was 1st introduced

    2000



70. presently how many countries have implemented gst

     160



71. igst charged by the gov

        central gov



72.  coal comes under which gst rate

   28%



73. the country with highest gst rate in the world is

    india

74.In general the financial year from shall be form

   1st april of any year

75.Which menu appears after starting tally for the first time

    company info

76 Which option is used in tall to make changes in created company

   Alter

77.Which option from company info menu is selected to created company

    Created company

78.Which option is used to copy data into pen drive or CD

    Backup

79.Which option is used to open compay created in tally
 
    Selected company

80.Which option is used in tally to close opened company

     Shut company

81.Which menu is used to create new ledger groups and voucher type in tally

     Masters

82.Which submenu is used for voucher entry in tally

    Account voucher

 83.Salary account comes under which head

   Indirect expenses

  84.How many group are pre defined in tally

     28

84.How many primary groups are there in tally

   15

85.How many secondary groups are there in tally

   13

86.Which option is used to view list of primary and secondary group of tally

   List of account

87.How many voucher type area redily available in tally

   18

88.Which voucher type is used to transfer amount from one bank to another

   Contra

89.Where do we record transaction of salary,rent or interest paid

  Journal

90.Which unit is created for stock items like grain,pulses,sugar,oil etc

   kgs(kilogram)

91.Which reports are prepared monthly in tally

   Trial balance

92.Which option is used to view stock items or group summary

    Inventory books
93.company restore option is available in

    company information

94.we can modify an existing company from?

    company info>alter

95.party a/c can be created?

    ledger

96.we can show bill wise detail of debit and credit by activating?

    maintain bill wise detail

97.suspense a/c group is define under?

    liabilites

98.manufacturing journal creates based on?

    stock journal

99.how many types of measurement units we can create in tally?

      two

100.we can see list of memorandum voucher

     exception report
102. Retained earning is an alias of 
      Reserve & surplus

103 we can get report of interest from 
      statement of account

104  . Reversing journal is a ……………….
          unconventional voucher

105. in tally ,there are predefined ledger 
            Two

106. To hide the name of the company you need to define
        Tally vault password

107.   Branch /Division is a group defined under ……………
             liabilities

108. Gst stand for 
      Goods and service tax

109  . in India Gst became effective from 
        1 July ,2017

110.  in  India Gst com effective from 1 july 2017 India has chosen  model of dual Gst ….
        Canadian

111.GST is a _____ based tax on consumption of goods and services.
       Destination

112.Indian GST model has ____ rate structure
       4%

113.what does 'I' stand for in IGST ?
       Integrated

114.How many types of taxes will be in Indian GST ?
      Three

115.Which of the following tax is not subsumed in GST ?
       Stamp duty
116. what is the maximum rate precribed under Gst 
      20%
117. which of the following taxes will be levied on imports of goods and services 
      IGST
118. Maximum Rate prescribed under UTGST/SGST 
       20%
119. How will the goods and service be classified under GST regime 
     SAC/HSN code
120. HSN code stand for .......................
    Harmonised system of nomenclature
121. SAC coad stand for
     services accounting code

122.can a person apply for registration with out PAN?
      No

123.is there any ceiling limit prescribed on the rate under IGST?
     40%
124.what is location of supply in case of importation of goods?

    loction of the importer

125.which form is to be used for registration?
     form GST/REG -01

126. The value of supply of goods and services shall be the?
    transaction value

127.the time limit to pay the value of supply with taxes?
    180 days

128.who is looked upon as the father of modern accounting
    lucas pacioli

129.when 'summa De' was published ?
     1494

130.who translated 'summa De' into English ?
     hugh old cassel

131.how many sides does a transaction has
    two

132.A transaction may be?
   cash,credit,external or internal transaction

133.transaction include?
      economic/financial activities

134.fixed assets include
    furniture, stock

135.current assets are
     cash,debtor

136.intangible assets are
    goodwill, copyright, patent

137.wasting assets are
    mine, well of oil

138.type of capital are
    fixed capital, working capital

139.A principle of
    general law, general rule,basic of conduct or practice

140.accounting principle are the rule which are based on
    customers, traditions experience

141.which on of the following is not a feature of accounting principle...
    rigid

142.accounting convention are
   convention of consistency, convention of conservation

143.principal accounting are
   ever-developing, board guideline, man-made

144.accounting concept are
    going concern concept, lost concept, dual aspect

145. feature of accounting principles are
    relevance, objectivity, feasibility

146.the object of IASA is
    harmonization & standardization of accounting policies

147.the headquarter of committee is situated 
   london

148.IASA was established on
   29th june,1973

149.the objectives of accounting standards are
  (A)helpful in preparation of financial statemet
  (B)to make financial statements more reliable

150.Accounting standard are
(a) policy documents
(b)mode by experts

150. Accounting standards are required 
       for reliability of financial statements
       for comparison of financial statements
151. first book of accounting is
       De composite scriptons
152.Father of double entry system was 
       locas pacioli

153.double entry system is 
     old system

154. Basis of accounting are 
       1. cash basis  2. accrual basis
155.  Accounting process is 
      Analysis and interpretation
      Communication of Result

156. Advantage of accrual basis are 
        it is certified by the company act , it present a True and fair picture of financial position.

157.  single entry system are ……………….
        is an incomplete system
          is different from dual entry system
         is an unscientific system

158. the following are the voucher 
          cash memo, invoice, receipts
 
159. a voucher is 
         a written document , signed by authorised , serially number and dated

160. voucher are 
             input and documentary evidence

161. sources  document are
            debit note
            invoice
            credit note

162. features of voucher are
         it is a business are
         it is prepared by accountant
         it is a proof of business transaction

163. external voucher are
        cash memo received
         credit note received
         purchase bill recived

164. type of cash voucher are
        debit voucher
         credit voucher

165. transfer voucher are used for
         for writing off depreciation
         for credit sale
         for sale  return

166.  accounting equation is prepared from
         assets
         capital
         creditors

167. asses are
         goodwill
          machinery
         debtors

168. external liabilities are
        bank loan
         creditors
         bill payable

169. type of liabilities are
        internal liabilities
         cantngecy liabilities
        external liabilities

170. according to tranditional classification a/c can be classified into how many categories
         three

171. personal a/c related to
         individuals, firm, companies

172. rea a/c related to
       tangible , intangible , wasting assets

173. nominal a/c related to
        expences, gains, revenue

174. type of personal a/c are
       natural account
       artificial account
       pepresentative account

175. the basus of traditional approach tupe of account are
        personal a/c
        nominal a/c
        real a/c

176. double entry system
        a scientific
        a legal
        popular in whole world

177. accounting system are
        single entry system
        duble entry system

178.  representative personal a/c are
        outstanding salary a/c
        prepaid insurance a/c
        prepaid tax a/c

179. cash discount is allowed to
        customers

180. cash discount motivates
       for quick payment

181. cash discount is allowed
        payment made on specific time

182. goods a/c are divided into
       purchase a/c
       sale a/c
       stock a/c

183. basic of selling are
        cash sales
        credit card sales
        credit sale

184. to basic objective of accounting is
        to ascertain how much is due on customer etc

185. recording in journal is done
       daily and chronological

186. features of ledger are
        it is a principal book of trader
       it is the summary of journal

187. journal fails to provided these information
        it does not record , transaction of same nature at one place

188. objective of ledger are
       to ascertain debtors
       to classify exp
       to classify revenue

189. ledger is
        necessary book
         legal baok

190.journal is divided into
       subsidiary books

191. special journal are also called
        day book / the book of original entry / subsidiary book

192. journal is sub - divided
       when transaction are very large

193. subsidiary book are 
      cash book
      purchase book
      sales book

194. features of cash book are
        only cash  transaction are recorded
        it is a subsidiary and principal book

195. types of cash book are
        simple cash book
        petty cash book
        double column cash book
        three column cash book

196. cash book is
        most imp. book of trader
        both journal and ledger

197. other name of sale return book is made
        return inword book

198. entry in sales return book is made 
       on the basis of credit note

199. the goods returned by customer are entered
        in sales return book

200.  goods journal are
         purchase journal
         sale book
         sale return book
201.  Bill journal are 
        bill pament book , bill received book

202. Feature of purchase book are 
      only credit purchase of goods are recorded , its a part of journal

203. The entries recorded into journal proper are
       opening entries , adjustment entries , closing

204. journal is divided into 
     cash book , goods book , Bills , journal purpose

205. credit balance as per bank column of cash book means 
     unfavorable balance

206.  The method of preparing B.R.S. are 
     by the balance of cash book, by the balance of pass book

207. Advantage of B.R.S are 
     control on dishonest employees , break on misuse, to reduce fraud

208.  The main object of trail balance is 
    To check the arithmetic accuracy of accounts

209.if the trail balance agrees ,it means
     correct position of accounts 

210.  Trail balance show 
     Balance of DR. and CR  are equal

211.  The short cut key used to print of any  report in tally is
      Alt+p

212. The short cut provided to shut and open company in tally is
      Alt+f1

213.  in tally ,credit note voucher type record entries are
       sale return

214.  The short cut feature available to view feature in tally
       F11

215.  Salary  account comes under which of the head
       indirect expenses

216.  the option used to exist tally is
           Quit

217.  The short cut key to used select company in tally is
     F1

218.   the submenu available for voucher entry in tally is

      Account voucher

219.  Tally short cut for debit note and credit notes are

             Ctrl+F9  and Ctrl+F8

220.  short cut key used to calculate in tally
         Ctrl+N

221 . which shortcut key in tally used to create a new company
      Alt+F3

222. Vat stand for 
      value added tax

223.Rate and tax under the Groups of
     Duties and taxes

224. Balance sheet display

exact financial positions of accounts

225.which keys is pressed to go to Gatway of tally form company info menu
   ESC

226. closing stock apper in which sheets
      Balance sheet

227.How many type of company can be created in tally
     two types

228.  Which shortcut is used for date period change in tally
       Alt+F2

229.  Trail balance contain_________balance of all accounts
     opening

230.   To create sales vouchers in tally ,you have to press the key
        F8

231. What is the function of tally vault
      security mechanism


232. All expenses & losses always having |
       Debit balance

233. which key is used to post entry in Debit note in tally
    Ctrl+F9

234. which shortcut is used to pressed create new ledger during voucher entry
      Alt+C

235.  which shortcut key is pressed for voucher entry or deleting a ledger
           Alt+D

236.   F12 button is used to select and open
      configuration

237.  F10 is the shortcut key for .............. voucher
     memo

238.  F2 is used for
      changing current date

239. Function key for receipt voucher is ................
      F6

240.   function key for payment voucher is ................
         F5

241.  Function key to select contra voucher  is ...............
     F4

242.  U.T.G.S.T. Stand for .................
      universal territory Goods and service tax 
      union territory 

243.  ITc is one of the ....................
      income tax credit , input tax credit 

244.  service tax filled by .....................
       service tax provider, service income 

245.  E -way bill passed in the year 
        1 april 2018  

246.  E-way bill imposed on 
        Goods transport in intra state 

247. smart phone will be taxed at under
     12%

248 . service tax paid by .............................................
      partner ship firm 

249.  Tds is applied on which income 
    commission of lottery ,professional fee 

250.  form 38 using in .....................
        uttrakhand to noida 

251. Tin no. stand for .............................
      tax identification no. 

252.To opening Hsn code before printing in tally .....................
       Goes to standerd purchase configration  (F12)

253.   Hsn code is called ...................
        6 digit uniform code 

254.  purpose of Hsn code ................................
          Classifying Goods form all over the world 

255. sales management means .................................
         Two work completted by the salesman , one bring order and salaries to salesman

256.  payroll using for ..................................
        create attendance sheet of employees 

257.  Tds is the collection of ............................
         income tax

258.  process of TDs  is ...................................
      Deductor --------buyer----------bank treasury 

259.  sale tax is the collection of ....................
        mandatory part of selling goods and provide service 

260.   sale tax collected form ..................
       customers 

261.  service tax rate in india .................................
       15%

262.  what kind of tax is service tax ............................
         indirect tax 

263.  service tax levied by .............................
        central Gov. 

264.   service tax provided by ................................
        service provider 

265.   excise duty produce on .......................
        manufactured product 

266.  excise duty often associated with ......................
        customer duty

267.  excise duty imposed on .......................
       local product such as liquer , tabacco, gold etc. 

268.  scenarios is one of the option who is ..........................
            manitain and control the budget 

269.  scenario is one of the ......................
        management tools

270.  main task of scenario is .........................
        Generating provisional report 

271.   name of voucher which is used in scenario ........................
         optional voucher , memorandum , reversing journal 

272.  


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