GURU Computer Institute

MCQ for Advanced Tally

1. A cost center can be grouped under another cost center. 0 points

True

False

2. You will find a predefined cost category when you enable the cost centre feature 0 points

in Tally.ERP 9.

True

False

3. A Cost Category facilitates three dimensional reporting of expenditure and 0 points

revenue. Which of the following is not an example of a cost category?

Region wise

Employee wise

Department wise

Salary wise
4. "The sales team of the company began customer visits for giving demonstrations 0 points

of some software. The company provided rupees 25000 towards their

transportation and food expenses. Out of this, rupees 15000 are allocated for Gita
and rupees 10000 for Sita. Identify the cost centres and cost categories for the
above example."

Transportation expenses as cost category, Gita and Sita as cost centre

Food expenses and cost category, Geeta and Sita as cost centre

Employee as cost category,Geeta and Sita as cost centre

Gita as cost category, Sita as cost center.

5. A Cost Category facilitates three dimensional reporting of expenditure and 0 points

revenue. Which of the following is not an example of a cost category?

Region wise

Employee wise

Department wise

Salary wise
6. From the Cost Category Summary Report below, you can understand that in this 0 points
company, there are ________ more cost categories other than the predefined cost
ones.

3
7. Select the correct answer option. Read and understand the report shown in the 0 points

image below. Now, find out the total expense amount for the the Sales Department
cost category. Select the correct answer option.

Rs. 2, 500

Rs. 1, 500

Rs. 1, 000

Rs. 1,10,000
8. The cost expenses of Rs.40, 000 is allocated to ___________cost center. Refer to 0 points

the image below to identify the cost centre.

Salesman

Manager

Senior

Junior
9. From the Cost Category Summary Report below, you can understand that in this 0 points

company, there are ________ more cost categories other than the predefined cost
ones.

10. Under _____ method interest is charged on principal amount along with interest. 0 points

Simple Interest

Compound interest

Composite interest

Interest
11. Refer to the screenshot below and answer the following questions. The interest 0 points

parameters shown in the above figure is related to ___________ interest calculation

mode.

simple parameter

advanced parameter

simple interest

compound interest
12. The Interest Parameters screen clearly shows compound interest calculations. 0 points

TRUE

FALSE

13. To record interest income on receivable amount, user need to record entry using 0 points

voucher class under ________ voucher.

Debit Note

Credit Note

Journal

Sales
14. The ______interest style is used for the example shown in the above screenshot. 0 points

30-Day Month

365-Day Year

Calendar Month

Calendar Year
15. The interest rate of 15.5% shown in the above screenshot is for debit balances 0 points

only.

TRUE

FALSE
16. Refer to the screenshot below and answer the following questions. The 0 points

screenshot shown above is the _____________ screen.

Voucher Creation

Class Creation

Ledger Creation

None of the above

17. The SI class shown above is for interest calculation. 0 points

TRUE

FALSE
18. The example shown above is an example of class for __________. 0 points

Simple Mode Interest

Compound Interest Calculation

Simple Interest Calculation

Advanced Mode Calculation

19. For the example shown in the above screenshot, if you set ‘Accounts to be 0 points

treated as Compound Interest’ to Yes, then the Simple Interest class will calculate
compound interest.

TRUE

FALSE
20. In the above example, the Simple Interest class is created in the debit or credit 0 points

note to enable interest calculation.

TRUE

FALSE
21. To activate interest calculation in simple mode or with simple parameter from 0 points

GWT, press _________ and enable ‘Activate Interest Calculation ‘from Accounts
feature.

Accounts info menu

Inventory Info menu

F11: Features

F12: configurations

22. To activate interest calculation in advanced mode or with advanced parameter 0 points
from GWT, press F11: Features > F1: accounts> disable ‘Activate Interest Calculation’
and enable use advanced parameters.

TRUE

FALSE

23. The main difference between simple mode interest calculations and advanced 0 points

mode interest calculations is __________

With simple mode we can calculate simple interest whereas with advanced mode we can
calculate compound interest

Simple mode requires minimum configurations for interest calculations whereas advanced mode
is used when interest rate changes periodically

There isn’t any difference in simple mode and advanced mode interest calculations

Simple mode option was available only in older Tally versions and advanced mode option is
available in Tally.ERP9
24. In the books of Omega Silk, Bank reconciliations and voucher dates are different. 0 points

We cannot calculate interest on outstanding balance of bank account by considering

Bank reconciliation date in Tally.

TRUE

FALSE

25. To calculate interest on outstanding balances of bank account as per bank dates, 0 points

set ____________ option to Bank/Reco Date in Interest Parameters screen.

Calculate interest based on

Include transaction date for interest calculations

Rate

Calculate interest transaction-by-transaction

26. Refer to the screenshot below and answer the following questions. The above 0 points

screenshot shows the budget created for ________.

Ledger

Group

Cost Center

Stock Item

27. The above screenshot shows the On net transactions budget type. 0 points

TRUE

FALSE
28. The budget set for the Advertisement ledger is Rs. ___________. 0 points

5000

50000

5,00,000

50,00,000
29. The _________ shortcut key is used to view budget variance report in the trial 0 points

balance.

Ctrl+B

Alt+B

Ctrl+Shift+B

Shift+B

30. If the ‘Maintain budgets and controls’ feature is enabled in the Accounting 0 points
Features screen then the budget variance report is available even though no budget
was created.

TRUE

FALSE
31. The ratio analysis report is divided into ____________ and ____________. 0 points

Principal Ledgers and Principle Items

Principal Ratios and Principal Groups

Principal Ledgers and Principal Ratios

Principal Ratios and Principal Items

32. The Nett Working Capital is calculated by subtracting Current Liabilities from 0 points

______.

Fixed Asset

Fixed Income

Profit and Loss

Current Asset

33. As per Accounting Standard-3, Cash Flow is classified into which activities? 0 points

Operating Activities

Investing Activities

Financing Activities

All of the above

34. The cash flow statement is based on which accounting type? 0 points

Cash basis of accounting

Accrual basis of accounting

Credit basis of accounting

None of the above

35. In which statement is the working capital statement prepared? 0 points

Cash Flow Statement

Funds Flow Statement

Income Statement

Profit & Loss Statement

36. Tax Deducted at Source (TDS) is an indirect tax collected at the prescribed rate 0 points

from the income source.

TRUE

FALSE
37. _______ is one of the modes for collecting income tax at the source. 0 points

GST

TAN

TDS

VAT

38. To create the TDS Nature of Payment, you need to go to Gateway of Tally > 0 points

Accounts Info. > Statutory Info. > TDS Nature of Pymts > Create.

TRUE

FALSE

39. In Tally, you can book expenses by recording the ____ voucher. 0 points

payment

journal

receipt

All of the above

40. As per the Income Tax Act, every corporate and government entity is liable for 0 points

______ of TDS.

extension

increase

addition

deduction

41. If you made the payment through a cheque then you need to create the nature of 0 points

payment for commission expenses.

TRUE

FALSE

42. As per the Income Tax Act, every corporate and government entity is liable for 0 points

______ of TDS.

extension

increase

addition

deduction
43. Which form is required to submit the TDS details for all payments? 0 points

Form 16

Form 26Q

Form 19

Form 10C

44. To submit the TDS details for all payments except for the salaries paid on monthly 0 points

basis, form 26Q is required.

TRUE

FALSE

45. In the form 26Q, Q stands for _____ report. 0 points

monthly

yearly

quarterly

All of the above

46. __________are special journals that are automatically reversed after a specified 0 points

date.

Reversing journals

Memorandum vouchers

Optional vouchers

Special journals

47. Reversing journals are not posted to any books of accounts and cannot be 0 points
included in regular reports.

TRUE

FALSE

48. Reversing journals and memorandum vouchers are predefined accounting 0 points

vouchers included in Tally.ERP.

TRUE

FALSE
49. To activate reversing journal, go to F11:Company features and then F1: Accounting 0 points

Features and set _____________ to Yes.

Maintain Bill-wise Details

Maintain Budgets and Controls

Use Reversing Journals & Optional Vouchers

Use Invoice mode for Credit Notes

50. To view reversing journal register, go to Gateway of Tally> Display> 0 points

_____________> Reversing Journals

Account Books

Inventory Books

Statement of Accounts

Exception Reports

51. When actual spending is more than the budget, it is called 0 points

Under budget

Over budget

Substantial budget

Nil budget
52. In Tally, the difference of actual and budgeted are available in the ____ report. 0 points

Common budget

Columnar

Day book

Budget variance

53. In Ratio Analysis, the receivable turnover ratio displays the ____. 0 points

Payment performance of debtors

Sundry debtors due till date

Working capital amount

Net profit percentage

54. Which of the following reports provides a critical overview of the company 0 points

performance in the form of ratios?

Ledger monthly summary

Receivables / Payable

Ratio analysis

Trial balance
55. Cash Flow Statement is also known as 0 points

Statement of Changes in Financial Position on Cash basis

Statement accounting for variation in cash

Both a and b

None of the above

56. The shortcut key used to reconcile a challan is _____ . 0 points

F2

F3

F4

F5

57. From the TCS Nature of Goods Creation screen, the ____ shortcut key is used to 0 points

select a predefined TCS nature of goods.

Alt +C

Ctrl+C

Alt+L

Ctrl+L
58. Under which of the following section are goods defined for TCS? 0 points

205C(1)

206C(1)

207C(1)

208C(1)

59. Which of the following forms is used to file the TCS return? 0 points

22E

25E

26E

27E

60. You cannot define zero percent as the TCS rate in Tally. 0 points

TRUE

FALSE
61. The option from where TAN registration number can be provided in Tally.ERP 9 is: 0 points

Accounting Features

Inventory Features

Statutory & Taxation

Add-On Features

62. The TCS Nature of Goods can be created from ______________. 0 points

Accounts Info > Statutory Info

Accounts Info > TCS Nature of Goods

Accounts Info > Ledgers > TCS Nature of Goods

F12: Configure > TCS Nature of Goods

63. For ______________ the TCS Nature of Goods needs to be defined. 0 points

Cost Center

Unit of measure

Stock Item

Stock Categories
64. The TCS challan can be printed from __________ voucher. 0 points

Contra

Payment

Receipt

Journal

65. ____________ can be used to reconcile the TCS Payments. 0 points

Cash

Cheque

Challan

Collections
66. A company needs 10, 000 USB Keyboards each month. The company decided to 0 points

reorder minimum of 5, 000 USB Keyboards or the quantity consumed in the last 20
days. Using this information and the parameters shown in the screenshot below,
define the reorder parameter: Reorder Quantity and Minimum Order Quantity.

10, 000 and 5, 000

5, 000 and 10, 000

5, 000 and 5, 000

10, 000 and 10, 000

67. Refer to the screenshot below and define advanced parameters: Period and 0 points
Criteria for the reorder levels using the reorder quantity.

20 days, Higher

15 days, Lower

20 months, Higher

1 month, Higher
68. Refer to the screenshot below and define advanced parameters: Period and 0 points

Criteria for the minimum order.

20 days, Higher

15 days, Lower

20 months, Higher

1 month, Higher

69. We can also set advanced parameters for the reorder levels in terms of weeks. 0 points

TRUE

FALSE
70. In Reorder Status, Nett Available Balance is equal to the sum of closing quantity, 0 points

pending purchase order and sales order due.

TRUE

FALSE

71. It is possible to close a sales order using the delivery note voucher. 0 points

TRUE

FALSE

72. The shortcut key __________ is used to pre-close an order from the Order Details 0 points

screen.

Ctrl+C

Alt+C

Shift+C
73. To pre-close an order using the delivery note voucher, press ___________ and set 0 points

‘Use pre-closure order details’ to Yes.

F12: Configuration

F11: Features

F2: Date

F1: Accounting Vouchers

74. To close a full or partial order using the sales/purchase voucher order, press Ctrl + 0 points

C.

TRUE

FALSE

75. You can close a complete sales order only from the sales invoice. 0 points

TRUE

FALSE

76. Reorder level is that level of a stock item on which an order has to be placed. 0 points

TRUE

FALSE
77. A reorder level is important to have sufficient stock to fulfill customer orders and 0 points

at the same time not to have high stock unnecessarily.

TRUE

FALSE

78. Lead time for suppliers to deliver stock and delivery time specified by the 0 points

customer are two important points to consider while setting reorder levels.

True

False

79. The stock in hand to satisfy orders is not important point to consider while setting 0 points

reorder levels.

True

False

80. Reorder level can be defined in either simple mode or complex mode. 0 points

True

False
81. The Profit is equal to ________, as per the item cost analysis report. 0 points

Revenue - (Cost - Balance at cost)

Cost- (Revenue - Balance at cost)

Revenue - Cost

Balance at cost + Revenue

82. A loss in the item cost analysis report is shown as the amount using ________ . 0 points

red color

negative balance

round brackets

asterisk mark
83. In the Balance at cost column, Nett Quantity indicates ________ quantity. 0 points

manufactured

inward-outward

outward-inward

instock
84. The item cost analysis report is only for a specific period. 0 points

TRUE

FALSE
85. The item cost analysis report cannot calculate the rate per price. 0 points

TRUE

FALSE

86 . Item cost and profit tracking refers to accumulation of costs and revenue for a 0 points
particular quantity of a stock item across various transactions.

TRUE

FALSE

87. Only purchase and sales transactions can be tracked and subsequently referred 0 points

in any transaction.

TRUE

FALSE
88. Item cost tracking enables analysing the running cost and profitability of the item 0 points

being tracked through manufacturing, sales, purchase, and so on.

TRUE

FALSE

89. Item cost tracking helps you effectively track and ascertain the procurement 0 points

cost, landing costs, manufacturing or production costs, order cost or profit, and job
cost or profit.

TRUE

FALSE

90. Item cost tracking helps in determining sale price of finished goods based on the 0 points

costs incurred till date and overall profitability.

TRUE

FALSE

91. Sanjay wants to sell goods at different rates to old and new customers. Which 0 points

Tally feature should he use to create different rates?

Price Level

Price List

POS

Reorder Level
92. To create a price list in Tally, from Gateway of Tally, select _____ . 0 points

Accounts Info.>Ledgers>Price List>Create

Inventory Info.>Price List>Create

Inventory Info.>Stock Group>Price List>Create

Inventory Info.>Stock Item>Price List>Create

93. To set ‘Separate discount column on invoice’, from Gateway of Tally select_____ . 0 points

Inventory Info.>Stock Item

F12: Configure>F2: Inventory

F11:Features>F1: Accounts

F11:Features>F2:Inventory

94. The price list is same as the price level. 0 points

TRUE

FALSE
95. You can have ____ price lists and price levels. 0 points

Two

Five

Four

Multiple

96. The POS voucher is used as a __________ . 0 points

sales invoice

sales order invoice

purchase invoice

purchase order invoice

97. The POS voucher is a predefined voucher in Tally. 0 points

TRUE

FALSE
98. To create a POS voucher, from Gateway of Tally, select __________ . 0 points

Inventory Info.> Voucher Types

Inventory Vouchers>Voucher Types>POS>Create

Inventory Info.> POS> Create

Accounting Info.> POS>Create

99. You can add the declaration text by setting _______ to Yes. 0 points

Set/alter POS

Set/alter T&C

Set/alter declaration

Set/alter text

100. How many text messages does Tally allow you to print on a POS invoice? 0 points

One

Two

Three

Four
101. In Tally.ERP 9 the POS voucher is grouped under ------ voucher type 0 points

Sales

Purchase

Journal

Contra

102. To use the POS function in Tally ----- option is set. 0 points

Use for POS invoicing

Use for desk invoicing

Use for counter invoicing

Use for instant invoicing

103. To accept the coupons voucher for POS invoicing ----- is used in Tally. 0 points

Coupon voucher

Gift voucher

Gift coupon

Reward voucher
104. To use only one payment method during POS voucher entry, switch to --------- 0 points

mode.

Cash register

Journal voucher

POS receipt

Single mode payment

105. In Tally, in the single mode payment for POS voucher entry ------ is the mode of 0 points

payment.

cheque

Online payment

Cash

Refund

106. Bank reconciliation statement is the comparison of a bank statement (sent by 0 points

bank) with the _________ (prepared by business).

Cash receipt journal

Cash payment journal

Cash book

Financial statements
107. The main purpose of preparing a bank reconciliation statement is _______. 0 points

To know the bank balance

To know the balance of bank statement

To correct the cash book

To identify causes of difference between cash book and bank statement

108. Bank reconciliation statement is _________. 0 points

Part of bank statement

Part of the cash book

A separate statement

A sub-division of journal

109. To reconcile the bank statement , go to ‘Gateway of Tally > ________ > Bank 0 points

Reconciliation> Select the name of the required bank.

Display> Statement of Accounts

Display> Statement of Inventory

Import

Banking
110. For Auto Bank reconciliation, on the ‘Bank Reconciliation’ screen, press ________. 0 points

Alt + B

Ctrl + B

Alt + S

Ctrl + S

111. You can print a cheque directly from Tally. 0 points

TRUE

FALSE

112. You can enable the Cheque Printing option from the Bank Ledger screen. 0 points

TRUE

FALSE

113. To configure the cheque dimensions, from Gateway of Tally you need to select 0 points
F11: Features>F1: Accounting Features.

TRUE

FALSE
114. You can set only one cheque book (cheque range) in Tally. 0 points

TRUE

FALSE

115. Which of the following shortcut keys is used to define the cheque dimensions? 0 points

Alt + U

Ctrl + U

Alt + D

Ctrl + D

116. Loans are a short term source of finance. 0 points

TRUE

FALSE

117. Which of the following is not loans liability Source of finance in tally. 0 points

Bank A/c

Bank Overdraft

Secured loan

Unsecured loan
118. Bank Occ A/c holder can have cash credit facility from against its stock and 0 points
receivable.

TRUE

FALSE

119. Term loan come under unsecured loan. 0 points

TRUE

FALSE

120. Debenture is security provided by borrower. 0 points

TRUE

FALSE

121. Job costing is used to track all the expenses and incomes for a project created 0 points

as a cost centre.

TRUE

FALSE
122. Job costing is a combination of cost centre and inventory godown. 0 points

TRUE

FALSE

123. Job costing cannot be used to determine the true cost for each job broken 0 points
down by location.

TRUE

FALSE

124. Job costing can be used to track overhead cost by allocating them for each job. 0 points

TRUE

FALSE

125. In job costing tracking transfer of materials from one Godown to another 0 points
Godown is impossible.

TRUE

FALSE
126. Job costing is a specific order costing, which applies to a job or a project 0 points

undertaken according to a customer’s requirements and specifications.

TRUE

FALSE

127. Using - --- -locate the cost of expenses for a project. 0 points

Godown

Cost centre

Cost expenses

All of the above

128. ------- is dedicated to specific jobs. 0 points

Price list

Zero value entry

Godown

Actual and billed

129. Through ------ we can transfer stocks from one project to another project. 0 points

Sales

Delivery note

Manufacturing journal

Stock journal

130. The----- key is used to view the comparative job work analysis report. 0 points

F12 configuration

Alt C

F11 features

Alt N

131. Job costing is used to determine the actual cost for each job based on the _____. 0 points

raw material

location

cost

expense
132. Job costing is applied to a job undertaken based on the customer’s 0 points

requirements and specifications.

TRUE

FALSE

133. Job costing is used to determine __________ for a given job. Based on this, the 0 points

profit is calculated for the job.

revenue and expenditures

raw material and labor cost

sales and purchase amounts

revenue and sales amounts

134. The Job Costing feature cannot track the quantity of different materials used 0 points

from different godowns.

TRUE

FALSE
135. The Job Costing feature allows you to compare the ______ of different jobs on a 0 points

single screen.

profit

inventory

consumption

expenses

136. Job work refers to the process of placing orders of only semi-finished goods to 0 points

job workers.

TRUE

FALSE

137. Job work also involves tracking of dispatch raw materials, receiving and 0 points

analysing the variance quantity for the effective execution of the manufacturing
process at the job work location.

TRUE

FALSE

138. In Tally, job order processing can ensure optimum utilisation of material only. 0 points

TRUE

FALSE
139. In Tally, for job order processing it is difficult to track inventory. 0 points

TRUE

FALSE

140. Tally generates instant cost assessment and analytical reports at various stages 0 points
of processing and manufacturing.

TRUE

FALSE

141. Job work in order takes place when a company receives job work from a third 0 points

party.

TRUE

FALSE

142. Job work in process does not allow you to define BOM for finished goods. 0 points

TRUE

FALSE
143. A Job worker records purchase invoice with finished goods out. 0 points

TRUE

FALSE

144. “Third party stock with us?” means we are stealing stock items of a third party. 0 points

TRUE

FALSE

145. Go to GWT> Display>Job Work> Job work in reports to view outstanding job 0 points

work in orders report.

TRUE

FALSE

146. Which of the following is the shortcut key for Job Work In Order? 0 points

Alt+ J

Alt+W

Ctrl+J

Ctrl+W
147. Which of the following is the shortcut key for Material In voucher? 0 points

Alt+ J

Alt+W

Ctrl+J

Ctrl+W

148. To show the manufacturing process, a new voucher type is created under 0 points

_________ predefined voucher type.

Delivery Note

Receipt Note

Physical Stock

Stock Journal

149. The ‘Enable Job Order Processing’ option is available in _____________. 0 points

F11:Features>F1:Accounts

F11:Features>F2:Inventory

F11:Features>F3:Statutory

F11:Features>F4:TSS
150. Material Movement Register allows you to check details of the finished good 0 points
and raw material.

TRUE

FALSE

151. The Company code field is included in all the provident fund codes of the 0 points

company allotted by the department.

TRUE

FALSE

152. Tax deduction and collection account number is a --- digit code assigned to 0 points
employees.

10
153. The salary paid to an employee is computed based on work done by an 0 points

employee which is quantified using the -----.

Inventory unit

Payroll unit

Salary details

None of the above

154. Like inventory unit, payroll unit cannot be a compound unit. 0 points

TRUE

FALSE

155. ---- is used to record the attendance and production data. 0 points

Payroll unit

Employee group

Employee category

Attendance / production type

156. A pay head can be an expense or liability from an employer's view point. 0 points

TRUE

FALSE
157. Which of the following is / are examples of deduction pay heads? 0 points

Employees Provident Fund

Professional tax

Income tax

All of the above

158. For each pay head, there can be a different calculation period. 0 points

TRUE

FALSE

159. If dearness allowance is 30 % of the basic pay, specify ----- in the computer 0 points

field while creating the dearness allowance pay head.

Fix rate

On specified formula

As per government rate

Basic X 0.3

160. We can see employee category option in payroll info menu only if the option 0 points
‘maintain more than one payroll or cost category’ is enabled in F11 company features.

TRUE

FALSE
161. In salary detail alteration screen, the pay head type, calculation type and 0 points

computed on columns will display information based on the pay head selected.

TRUE

FALSE

162. To define salary details for the accounts department, go to Gateway of Tally> 0 points

payroll info> salary details> employee category> select accounts department.

TRUE

FALSE

163. Which of the following cannot be a correct way to define salary details for 0 points
employees?

Gateway of Tally > payroll info > employee salary > details define

Gateway of Tally > payroll info > salary details define > select employee name

Gateway of Tally > payroll info > employee group alter > select employee group > say yes to define
salary details

Gateway of Tally > payroll info > employee alter > select employee > say yes to define salary
details

164. In Tally, salary details can be created for an employee group and then can be 0 points

copied for all the employees within that group.

TRUE

FALSE
165. Copy option will appear if the option ‘allow copy from employees F12 salary 0 points

details configuration’ is set to yes from salary details alteration screen.

TRUE

FALSE

166. The path to view payroll statutory report is gateway of Tally> display > ------> 0 points

statutory report

Statement of accounts

Statements of inventory

Statutory reports

Payroll reports

167. The provident fund reports are subdivided into ----- and----- based on the 0 points

period.

Quarterly and half yearly

Quarterly and annual

Monthly and quarterly

Monthly and annual

168. PF form 5 is a ---- report with the details of the employees newly joining the 0 points

provident fund schedule during the given month.

Monthly

Quarterly

Half yearly

Annual

169. PF ---- is a monthly report that provides the details of the employees exiting 0 points

from the provident fund scheme during the given month.

form 5

form 10

form 12A

e challan return

170. PF form 12A is a monthly report that provides the details of the PF payment 0 points

made to the respective PF accounts of the employees during the given month.

TRUE

FALSE
171. ESI Form 3 is a Return of Declaration form to be submitted each month with the 0 points

details of the Employees falling in the purview of ESI during the given month.

TRUE

FALSE

172. ESI Monthly Statement is an MIS report which provides the details of the 0 points

Amounts contributed by Employees and Employer towards the ESI Account in the
current year.

TRUE

FALSE

173. To view the ESI Form 3, go to Gateway of Tally > Display > Payroll Reports > 0 points
Statutory Reports> _______> Form 3

Employee State Insurance

Payroll Reports

Both a & b (correct answer)

None of the above

174. ESI Form 5 is a Return of Contribution form to be submitted half yearly with 0 points

details of employee wise ESI contribution made on a monthly basis.

TRUE

FALSE
175. ESI Form 6 is Register of Employees falling under the purview of ESI with detailed 0 points

annual information.

TRUE

FALSE

176. Income tax is levied on personal income. 0 points

TRUE

FALSE

177. Service Tax is a tax payable, and enacted by the union budget for every 0 points

assessment year on the total income earned in the previous year by every person.

TRUE

FALSE

178. The Government of India imposes income tax on the income of all persons. 0 points

TRUE

FALSE
179. All persons who are considered as an assessee when their income exceeds the 0 points

maximum exemption in the prescribed limit. Income tax will be levied at the
prescribed rates according to the finance act.

TRUE

FALSE

180. In Tally, income tax pay head comes under employee statutory contribution. 0 points

TRUE

FALSE

181. Transport allowance is provided for travelling expenses incurred between 0 points

residence and place of duty.

TRUE

FALSE

182. For income tax computation, the previous employer income and tax payment 0 points

details are not necessary for employees who join the organization in the middle of
the year.

TRUE

FALSE
183. Income Tax value which is captured while processing salary has to be paid to 0 points

employees.

TRUE

FALSE

184. To view the Income Tax Reports, go to Gateway of Tally > Display > Statutory 0 points

Reports > Income Tax.

TRUE

FALSE

185. The Computation Report displays the employee-wise income tax computation 0 points

details in the form 16 format.

TRUE

FALSE

186. In Tally, you can activate the payroll feature by selecting ___ . 0 points

F11: Features>F1: Accounts

F11: Features>F2: Inventory

F11: Features>F1: Accounts &F2: Inventory

F11: Features >F3: Statutory

187. Which of the following is/are used to calculate PF? 0 points

Basic

Basic and HRA

Basic and DA

Basic, DA and HRA

188. Which of the following is the gross earnings limit for ESI calculation? 0 points

Rs. 10,000

Rs. 21,000

Rs. 20,000

Rs. 15,000

189. The overtime is calculated based on the ____. 0 points

attendance

Leave Without Pay

production

All of the above

190. Which of the following is an EDLI contribution? 0 points

Employee’s Earnings

Employee's Statutory Deduction

Employer's Statutory Deduction

Employer's Others charges

191. Which of the following shortcut keys is used to create an attendance voucher? 0 points

Alt+F4

Ctrl+F4

Alt+F5

Ctrl+F5

192. Form 10 is used for ______ . 0 points

EPS

NPS

ESI

PF
193. Which of the following shortcut keys is used to create a payroll voucher? 0 points

Alt+F5

Ctrl+F5

Alt+F4

Ctrl+F4

194. Form 16 is used for _____. 0 points

PF challan

TDS challan

TDS certificate

ESI challan

195. The path to define salary details is GWT> --- → salary details 0 points

Accounts info

Inventory info

Payroll info

display
196. ITR - 1 is used for filling the ___ return. 0 points

business income

income tax challan

salary income

agriculture income

197. Which of the following is related to the section 80D? 0 points

Income Tax

ESI

Gratuity

NPS

198. The Pay head menu provides setup of various masters or configurations 0 points

required for income tax computation.

TRUE

FALSE

199. You can use the Pay Head Configuration screen to configure the Income Tax 0 points
Component for all existing pay heads.

TRUE

FALSE
200. The employee can provide the Exemption and Deduction details to the 0 points

employer, and these details can be entered in the system as Employee Declaration by
from Gateway of Tally > Payroll Info. > Income Tax Details > Declarations.

TRUE

FALSE

201. GSTR-1 is a half yearly return that should be filed by every registered dealer. 0 points

TRUE

FALSE

202. GSTR-1 contains details of all outward supplies. 0 points

TRUE

FALSE

203. In GSTR, Included in returns option displays Summary of Included Vouchers 0 points

report with the list of voucher-types with voucher count.

TRUE

FALSE
204. In GSTR, Not relevant for returns option displays Summary of Excluded 0 points

Vouchers report with the transaction type-wise voucher count.

TRUE

FALSE

205. Press ctrl + I to include transactions which are manually excluded by the user 0 points

from the list of included or uncertain transactions.

TRUE

FALSE

206. To view Status Reconciliation report, go to Gateway of Tally > Display > Statutory 0 points
Reports > GST > GSTR – 1.

TRUE

FALSE

207. Click Ctrl+ U to view Status Reconciliation screen from GSTR1. 0 points

TRUE

FALSE
208. In status reconciliation screen, Uploaded column is automatically updated when 0 points

a voucher is exported to GSTR-1 return file.

TRUE

FALSE

209. In status reconciliation screen, you can mark the status as rejected when the 0 points

buyer rejects the voucher details as displayed in the GSTR-1A.

TRUE

FALSE

210. In status reconciliation screen, you can mark the status as accepted when input 0 points

tax claim is made by the government in the GSTR-1A.

TRUE

FALSE

211. Every registered taxable person is required to give details of Inward Supply in 0 points

GSTR-2.

TRUE

False
212. GSTR-2 contains details of all the purchases transactions of a registered dealer 0 points

for a year.

TRUE

FALSE

213. GSTR 2 does not include purchases on which reverse charge applies. 0 points

TRUE

FALSE

214. The GSTR-2 filed by a registered dealer is used by the government to check with 0 points

the sellers’ GSTR-1 for buyer-seller reconciliation.

TRUE

FALSE

215. Once all the transaction statuses are reconciled, generate the return in JSON 0 points
format and file the return.

TRUE

FALSE
216. ______ is a shortcut key to toggle between the Return format and Summary 0 points

format.

Ctrl + V

Alt + V

Alt + R

Ctrl + R

217. _______ shows all vouchers which are accepted without fixing the mismatch error 0 points

in the computed tax values.

Ctrl + A

Alt + A

Ctrl + M

Alt + M

218. You can record the statutory adjustment transaction (journal voucher) directly 0 points

from the GSTR screen.

TRUE

FALSE
219. Which of the following shortcut key is used to open the GST portal from the 0 points

GSTR screen?

Ctrl + M

Ctrl + O

Alt + O

Alt + R

220. Which of the following shortcut key is used to export the GSTR report? 0 points

Ctrl + E

Alt + E

Alt + P

221. The ledger for transport is created under which accounting group? 0 points

Sundry Debtor

Sundry Creditor

Indirect Expenses

Direct Expenses
222. Which of the following is mandatory if a transporter is not GST registered? 0 points

PAN

Mobile Number

Transporter ID

Bank Account Number

223. Assume a company used its own vehicle to transport goods. Which of the 0 points

following is mandatory while recording the transport details for a sales invoice?

Transporter ID

Your PAN

Your GSTIN

Vehicle Number

224. It is okay to fill the transporter ID and date and not the vehicle registration 0 points

number.

TRUE

FALSE
225. Which of the following have a single asterisk mark? 0 points

Mandatory fields

Mandatory fields if the mode of transport is Road

Mandatory fields if the mode of transport is air

Optional fields

226. Effective from 1st April 2018, all registered dealers need to generate e-Way Bill 0 points

for the movement of goods if the total of taxable value and tax amount in the invoice
exceeds --------.

Rs. 25000

Rs. 50000

Rs. 100000

Rs. 150000

227. Enable e-way bill setup in Tally from --------. 0 points

F11: features>F1: Accounts

F11: features>F2: Inventory

F11: features>F3: Statutory

F12: Configuration
228. You have to mention e way bill threshold limit during every voucher entry. 0 points

TRUE

FALSE

229. “e-Way Bill applicable for intrastate?” is visible only for states for which it is 0 points

applicable.

TRUE

FALSE

230. Transporter ID is a _ digit number. 0 points

14

15

16

17

231. You can connect only one company through Tally.NET. 0 points

TRUE

FALSE
232. By default, the Tally.NET user is authorized in the capacity of a/an_____ who has 0 points

restricted access to the company data.

Auditor

Data Entry operator

System administrator

All of the above

233. Tally.NET allows you to connect companies from Tally.ERP 9 and helps you to 0 points
create and maintain remote users.

TRUE

FALSE

234. Tally.NET is a/an ________ feature that provides a host of capabilities. 0 points

optional

additional

default

All of above
235. ______ is a framework which works in the background and provides a broad 0 points

range of services using the Internet.

Tally.ERP 9

Tally.NET

Tally 5.4

Tally 6.3

236. The ______ shortcut key is used to get the synchronize rule information in the 0 points

Client Rule Alteration screen.

Alt+R

Ctrl+R

Alt+S

Ctrl+S

237. The ________ shortcut key is used from Gateway of Tally to connect a company. 0 points

Ctrl+F4

Alt+F4

F4

Shift+F4
238. The ________ shortcut key from Gateway of Tally is used to disconnect a 0 points
company.

Ctrl+F4

Alt+F4

F4

Shift+F4

239. The _______ shortcut key from Gateway of Tally is used to synchronize data for a 0 points

company.

Ctrl + O

Alt+O

F4

Alt+F4

240. The ______ shortcut key from Gateway of Tally is used to synchronize the 0 points

selected rules (Master/ Transaction).

Ctrl+O

Alt+O

Ctrl+Y

Alt+Y
241. Data is synchronised using __________, which connects the client and server. 0 points

Cloud server

Company email

Tally.net server

Company website

242. The ______ feature allows you to manually export any data into XML format when 0 points

doing data synchronization.

Export Data

Export Snapshot

Import Snapshot

Export in PDF

243. When online synchronisation is performed using Tally.NET Server, the ----- acts 0 points

as a bridge or a connection between the server and the client company.

Tally.NET Server

Company server

Cloud server

Company email
244. In online synchronisation , it is necessary to connect the server company to the 0 points

Tally.net server after configuration of server, client and TSS.

TRUE

FALSE

245. After connecting the company to the Tally.net server, we should create 0 points

synchronization rules on the server.

TRUE

FALSE

246. SMS stand for ______________ 0 points

Simple Message Sending

Short Message Services

Simple Message Services

Short Message Sending

247. We can access SMS without configuring the Security Control feature. 0 points

TRUE

FALSE
248. To register a mobile number for SMS, from Gateway of Tally, you have to open 0 points
__________.

Support Centre

Control Centre

Help Centre

Tally Solutions Office

249. It is not mandatory to register the mobile number before connecting a company 0 points

to TSS.

TRUE

FALSE

250. The ______ shortcut key is used to access the TSS feature. 0 points

F11 > F1

F11 > F2

F11 > F3

F11 > F4

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