Accounting in Tally Questions & Answers

Tally is an Accounting Software, which is mostly being used in India/Asia. This software enables very rich features and easy way of making bookkeeping and accounting for small and medium scale industries.

Learning Tally gives you a great opportunity to start your career in any Finance Department and Supporting service departments.

Following are some of the questions and answers from Tally Accounting Package to face an interviews. Please take the below free online quiz and enjoy your learning.

Tally package is developed by

a. Peutronics
b. Tally Solutions
c. Coral Softwares
d. Vedika Softwares

b. Tally Solutions

We can change the Company Information from

a. Company Info > Back up
b. Company Info > Alter
c. Company Info > Split Company Data
d. None of these

b. Company Info > Alter

Company Restore option is available in

a. Company Features
b. Company Information
c. Configuration
d. None of these

b. Company Information

In general the Financial year from shall be from

a. 1st April of any year
b. 31st March of any year
c. All of them are true
d. None of these

a. 1st April of any year

We can Modify an existing Company from

a. Company Info > Alter
b. Company Info > Alter Company
c. Gateway of Tally > Modify Company
d. None of these

a. Company Info > Alter

To change Current Date from Gateway of Tally press the key

a. F1
b. F5
c. F2
d. F9

c. F2

Party account can be created through

a. Group creation window
b. Ledger creation window
c. Inventory creation window
d. Any one of them

b. Ledger creation window

A ledger may get declaration space for its Alias through

a. F12
b. F11
c. Alt + F1
d. Alt + F2

a. F12

F12 is known as

a. Company Features
b. Company Configuration
c. Accounting Features
d. None of these

b. Company Configuration

What is the utility of Tally Vault Password?

a. It will lock the period of Company
b It will lock all voucher entries for that Company
c. It will not show the Company Name in the Company Select List.
d. None of these

c. It will not show the Company Name in the Company Select List.

We can show Bill wise details of Debtors and Creditors by activating

a. Bill by bill
b. Maintain Bill wise Details
c. Maintain References
d. None of these

b. Maintain Bill wise Details

The shortcut key to quit from Tally is

a. Ctrl + L
b. Ctrl + P
c. Ctrl + M
d. Ctrl+Q

d. Ctrl+Q

A Ledger can't be deleted if it is caring Opening Balance

a. True
b. False

b. False

How many inbuilt Accounts group are in tally by default?

a. 29
b. 31
c. 25
d. 34

d. 34

The shortcut used to activate calculator is

a. Ctrl + N
b. Ctrl + M
c. Ctrl + A
d. Ctrl + B

a. Ctrl + N

Suspense Account Group is defined under

a. Income
b. Expenditure
c. Liabilities
d. Assets

c. Liabilities

To activate MRP feature from Gateway of Tally initially we need to press

a. F11
b. F12
c. F10
d. Alt + F1

b. F12

MRP formula for inclusive of vat is

a. {vat%*(MRP * QTY)}/100
b. (100*rate of vat)/(100+rateof vat)
c. Both a & b
d. None of these

c. Both a & b

Manufacturing Journal creates based on

a. Journal
b. Receipt Note
c. Stock Journal
d. Purchase Quotation

c. Stock Journal

To create Manufacturing Journal which option must be activated

a. Use Common Narration
b. Narrations for each entry
c. Prefill with Zero
d. Use as manufacturingJournal

d. Use as manufacturingJournal

How many types of Measurement Units we can create in Tally?

a. 2
b. 3
c. 5
d. Unlimited

a. 2

To activate Job Costing which options require to be activated?

a. Maintain Cost Centre
b. Use Cost Centre for Job Costing
c. Both a & b
d. None of these

c. Both a & b

Multiple Godowns are activated from

a. F11
b. F11 > F1
c. F11 > F2
d. F11 > F3

c. F11 > F2

There are _________ predefined ledgers

a. One
b. Three
c. Two
d. Four

c. Two

We can see list of Memorandum Vouchers from

a. Cash/Bank Books
b. Exception Reports
c. AccountsBooks
d. Trail Balance

b. Exception Reports