Basic Tally Questions & Answers

Basics are very important to handle any subject. Tally is the most popular financial accounting software and in this article we will be covering the basic questions and answers from Tally Accounting Package.

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To print a voucher from Tally we need to press

a. Ctrl + P
b. Shift + P
c. Alt + P
d. Ctrl + Alt + P

c. Alt + P

We can see Working Capital figure changing

a. Voucher configuration
b. Profit & Loss configuration
c. Balance Sheet configuration
d. Ledger configuration

c. Balance Sheet configuration

Input Vat Ledger is created under which account?

a. Duties & Taxes
b. Sales
c. Sales Return
d. None of these

a. Duties & Taxes

We can create multiple users in Tally activating

a. Tally Audit
b. Use Security Control
c. Both (a) and (b)
d. None of these

b. Use Security Control

“Allow components list details (Bill of Materials)” option is activated for

a. Ledgers
b. Cost Category
c. Stock Items
d. Budgets

c. Stock Items

Retained Earnings is an alias of

a. Indirect Income
b. Reserve and Surplus
c. Capital Account
d. Investments

b. Reserve and Surplus

We can repeat narration by pressing

a. Shift + R
b. Alt + R
c. Ctrl +
d. Alt + Shift + R

c. Ctrl +

What is MRP?

a. Market Price
b. Maximum Retail Price
c. Marginal Price
d. Minimum Retail Price

b. Maximum Retail Price

We can use Stock Journal for

a. Production and Consumption
b. Inter Godown transfer for stock
c. Both (a) and (b)
d. None of these

c. Both (a) and (b)

Discount Column is available in

a. Sales Invoice
b. Purchase Invoice
c. Both (a) and (b)
d. None of these

c. Both (a) and (b)

We can get the report of Interest from

a. Account Books
b. Cash and Fund flow
c. InventoryBooks
d. Statements of Accounts

d. Statements of Accounts

We can cancel a voucher using

a. Alt + X
b. Ctrl + X
c. Shift + X
d. Ctrl + Shift + X

a. Alt + X

To see reports of Job Work Analysis

a. Display-Statement of a/cs
b. Display-Statement of a/cs-Job Work Analysis
c. Display-Statement of a/cs-Cost Center-Job work
d. None of these

b. Display-Statement of a/cs-Job Work Analysis

For reconciliation of Bank press

a. F12
b. F10
c. F5
d. F6

c. F5

We can't select cash in Journal Voucher

a. True
b. False

b. False

To create Scenario which option require to be activated?

a. Use Rev Journal & Optional voucher in F12
b.Use Optional voucher in F11
c. Use Reversing voucher in F11
d. Use Rev journal & Optional voucher in F11

d. Use Rev journal & Optional voucher in F11

Optional Voucher is one type of

a. Conventional Voucher
b. Unconventional Voucher
c. Both (a) & (b)
d. None of these

b. Unconventional Voucher

TDS deduction entry can be made through

a. Payment Voucher
b. Journal Voucher
c. Receipt Voucher
d. All of these

b. Journal Voucher

To create Purchase Order press

a. Alt + F4
b. Ctrl + F4
c. F4
d. None of these

a. Alt + F4

List of Optional Voucher we can get from

a. Cash Bank Books
b. Exceptional Reports
c. Accounts Books
d. Balance Sheet

b. Exceptional Reports

Input Vat Credit on Capital goods should be defined under

a. Capital Account
b. Current Liabilities
c. Duties & Taxes
d. Misc. Expenses (Assets)

c. Duties & Taxes

Single Entry mode is applicable for

a. Receipt Voucher
b. Contra Voucher
c. Payment Voucher
d. All of these

d. All of these

Online voucher creation from Day Book report by pressing

a. Ctrl + A
b. Shift + A
c. Alt + A
d. None of these

c. Alt + A

Reversing journal is a

a. Conventional Voucher
b. Unconventional Voucher
c. Both (a) and (b)
d. None of these

b. Unconventional Voucher

To hide the name of the Company you need to define

a. Security Control
b. Tally Audit
c. Create at least one User
d. Tally Vault Password

d. Tally Vault Password