Tally MCQ Questions and Answer in English

Tally MCQ Questions and Answer in English Hello student! In this post we have brought Tally Question Paper in English for you. In this paper you will get 30 Multiple Choice Questions which you can prepare from here.

Tally MCQ Questions and Answer in English

Ques-1 : Which account is the odd one
A) Furniture
B) Land and buildings
C) Stock of raw materials
D) Plant and machinery
Answer : C

Description :
All of above mentioned are tangible asset as they have finite monetary value and available in physical form. Among all except Stock of raw materials are Fixed Assets where as Stock of raw materials is current assets.

Ques-2 : Which of the following is the example of external users of accounting information
A) Government
B) Owners
C) Management
D) Employee
Answer : A

Description :
Government is the example of external users of accounting information.

Ques-3 : A ________ is sent to a customer when he returns the goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill
Answer : B

Description :
Sales return are recorded in Credit note voucher. A credit note is a document sent by a seller to its buyer or, in other words, a vendor to the customer, notifying that a credit has been provided to their account against the goods returned by the buyer.

Ques-4 : A __ is sent to the seller when he is taken back the sold goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill
Answer : A

Description :
A debit note is sent to the seller when he is taken back the sold goods.

Ques-5 : Which of the following is not a transaction
A) Goods are purchased on cash basis for Rs 1000
B) Salaries paid for the month of May 20XX
C) Land is purchased for Rs 10 lakhs
D) An employee is dismissed from the job
Answer : D

Description :
An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. An employee is dismissed from the job does not have any monetary impact so it is not a transaction.

Ques-6 : Which shortcut key is used in Company Features screen to use Accounting Features in Tally
A) F1
B) F2
C) F3
D) F4
Answer : A

Description :
F1 shortcut key is used in Company Features screen to use Accounting Features in Tally.

Ques-7 : Which shortcut key is used in Company Features screen to use Inventory Features in Tally
A) F1
B) F2
C) F3
D) F4
Answer : B

Description :
F2 shortcut key is used in Company Features screen to use Inventory Features in Tally.

Ques-8 : Which shortcut key is used in Company Features Screen to use Statutory & Taxation in Tally
A) F3
B) F4
C) F2
D) F1
Answer : A

Description :
F3 shortcut key is used in Company Features Screen to use Statutory & Taxation in Tally.

Ques-9 : Which key is used to post entry in Debit Note in tally
A) F7
B) F8
C) Ctrl + F9
D) Ctrl + F8
Answer : C

Description :
Ctrl + F9 key is used to post entry in Debit Note in tally.

Ques-10 : Which shortcut key is used to view Report with all details in Tally
A) F1
B) Alt + F1
C) F3
D) Alt + F2
Answer : B

Description :
Alt + F1 shortcut key is used to view Report with all details in Tally.

Ques-11 : Which option is selected from Company Info Menu to divide company data into two financial years
A) Change Tally Vault
B) Alter
C) Split Company Data
D) New Company
Answer : C

Description :
At the Gateway of Tally, press ALT+F3 or click F3:Cmp Info > Select the option Split Company Data > Select the option Select Company > Select the Company whose data is to be split.

Ques-12 : Which option is used to copy company’s data into pendrive or CD
A) Backup
B) Restore
C) Split Company Data
D) Copy Data
Answer : A

Description :
Go to company info Menu ( Use Alt + F3 from gateway of Tally ).

Select Backup menu, The backup processing screen will appear.

Select the source of data, normally this will be selected automatically no need to change.

Change the destination if required ,This needs to be changed in most cases if you want data backup in a removable disk (pendrive or CD).

Select the companies from the list ,choose End of list.

Accept and save the screen, the data will be backed up in destination folder you have mentioned.

Ques-13 : Which option is used to place data taken in pen drive or CD to Appropriate place in Tally
A) Backup
B) Restore
C) Split Company Data
D) None of these
Answer : B

Description :
Go to Gateway of Tally > F3 : Cmp Info > Restore to view the Restore Companies screen.

Destination – The folder path where your company data is to be restored. Do not restore backup data in the folder where your company data exists, since it may overwrite the existing data.

Source – The folder path where the backup file is stored. You can restore data stored locally on your computer, on any external storage device, or on a storage space on the network.

Select the required companies from the List of Companies . Select All items to restore data of all companies.

Press Ctrl+A to restore the data backup.

Ques-14 : Which option is used to open company created in Tally
A) Create Company
B) Alter
C) Select Company
D) Shut Company
Answer : C

Description :
In the Company Info. menu choose Select Company option.

Then you will see the List of Companies, which are created using the Create Company option under the Company Info. menu.

From the list choose any one of the companies.

Ques-15 : Which option is used in Tally to close opened Company
A) Alter
B) Shut Company
C) Create Company
D) Select Company
Answer : B

Description :
If you already opened the multi-companies and working on them and want to close any of them or two then there is two ways to close them.

Go to company info by pressing ALT+F3

There you will see the option Shut company, click on it

You will see all companies list.

Select the company which you want to close one by one.

Selected company will close after you have selected.

Ques-16 : Tally package is developed by
A) Peutronics
B) Tally Solutions
C) Coral Softwares
D) Vedika Softwares
Answer : B

Description :
Tally Solutions Pvt. Ltd., is an Indian multinational company that provides enterprise resource planning software. It is headquartered in Bangalore, Karnataka India.

Tally Solutions, then known as Peutronics, was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka.

Ques-17 : 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
Answer : A

Description :
The Balance Sheet and Income statement of companies across the Globe are usually prepared for a period of 1 year. However, the date from which this period starts varies from country to country.

In India, this 1 year period starts from 1st April and ends on 31st March.

Ques-18 : Which menu appears after starting Tally for the first time
A) Gateway of Tally
B) Company Info
C) Display
D) None of these
Answer : B

Description :
After installation, the application opens to the screen shown Company Info

Ques-19 : Which option is used in Tally to make changes in created company
A) Select Company
B) Shut Company
C) Alter
D) None of these
Answer : C

Description :
After creation the company, For altering a company following procedures is to done:-

1) Select ‘F3 Company Info’ on ‘Gate way of Tally’.
2) Select ‘Alter’
3) Select ‘EXAMVEDA.COM Limited’
4) Now Screen of Company Alteration shall appear.

Ques-20 : Which option from Company Info. menu is selected to create a new Company in Tally
A) Company Create
B) Create Company
C) Create
D) New Company
Answer : B

Description :
Company info menu. (If you are in Gateway of Tally Press Alt+F3 to get that menu), Select Create Company option in the menu and press enter key, company creation screen will be appeared.

Ques-21 : How many groups are pre-defined in Tally
A) 28
B) 30
C) 15
D) 19
Answer : A

Description :
Tally.ERP 9 provides a list of Groups called pre-defined groups. There are twenty eight pre-defined groups in Tally.ERP 9. These groups are a part of the chart of accounts for most organizations. For example, Sales Accounts is a pre-defined group. All sales ledgers can be classified under this group.

Ques-22 : How many primary groups are there in Tally
A) 19
B) 28
C) 15
D) 20
Answer : C

Description :
Out of the twenty eight pre-defined groups, fifteen are primary groups and thirteen are sub-groups. The user can create any number of Primary Groups and Sub Groups which are again grouped under a Primary Group/Sub Group.

Ques-23 : How many secondary groups are there in Tally
A) 15
B) 13
C) 28
D) 3
Answer : B

Description :
Out of the twenty eight pre-defined groups, fifteen are primary groups and thirteen are sub-groups. The user can create any number of Primary Groups and Sub Groups which are again grouped under a Primary Group/Sub Group.

Ques-24 : Which option is used to view list of Primary and Secondary groups in Tally
A) List of Accounts
B) Accounts
C) List
D) None of these
Answer : A

Description :
List of accounts is used to view list of Primary and Secondary groups in Tally. It displays the existing chart of accounts, listed as groups, in alphabetical order.

To view list of accounts:

Go to Gateway of Tally > Display > List of Accounts

Ques-25 : Which ledger is created by Tally automatically as soon as we create a new company
A) Cash
B) Profit ; Loss A/c
C) Capital A/c
D) A and B both
Answer : D

Description :
There are two pre-defined (or automatically created) ledgers available in Tally.ERP 9, they are:

Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.

Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.

You cannot delete this ledger, but you can modify the same.

Ques-26 : Which option is used to move from one company to another when more than one companies are open
A) Company Info
B) Shut Company
C) Select Company
D) Company
Answer : C

Description :
From the Company Info. menu choose Select Company option to move from one company to another when more than one companies are open.

Ques-27 : Which menu is used to create new ledgers, groups and voucher types in Tally
A) Reports
B) Import
C) Transactions
D) Masters
Answer : D

Description :
New ledgers, groups and voucher types in Tally is created from Masters

Go to Gateway of Tally > (under Masters) Account info.

Ques-28 : Which submenu is used to create new ledgers, groups and voucher types in Tally
A) Account Info
B) Inventory Info
C) Accounting Vouchers
D) Inventory Vouchers
Answer : A

Description :
New ledgers, groups and voucher types in Tally is created from Account info submenu.

Go to Gateway of Tally > (under Masters) Account info.

Ques-29 : Which submenu is used for voucher entry in Tally
A) Vouchers
B) Accounting Vouchers
C) Accounts Info
D) None of these
Answer : B

Description :
For voucher entry in Tally Accounting Vouchers submenu is used.

Go to Gateway of Tally > (under Transactions) Accounting Vouchers

Ques-30 : eTCS means
A) Enable Tax Collected at Source
B) Electronic Tax Collected at Source
C) Electric Tax Collected at Source
D) None of these
Answer : B

Description :
eTCS stands for Electronic Tax Collected at Source

Tally recommends the split-off date based on the data existing. It is recommended that the Split Point is set as the beginning of the latest financial year though Tally permits any date as the split point.

Leave a Comment