Mock Test – 2 Recording and Maintaining Accounting Transactions

& Introduction to Tally

1. ‘As on 1st February 21, Vani Enterprises purchased goods from Mr.Ajay and paid cash amounted
Rs.5,000.’ What are the types of accounts involved in the given transaction?
a. Personal account
b. Nominal account
c. Nominal account and real account
d. Personal account and real account

2. In tally prime, while recording the ‘receipt’ voucher, from the same screen we can view the receipts
and payments report by using which of the following option?
a. H: Change Model
b. I: More Details
c. G: Go To
d. F12: Configure

3. Which of the following are the features of Tally Prime

a. Slow in speed
b. Multi tasking
c. East navigation
d. Inflexibility
e. Incompetence setup manger
f. Complicate Navigation

4. Tally prime can be used in Educational mode for ___ Purpose

a. Generating complete financial year report
b. Recording complete financial year data
c. Learning
d. Recording Transactions on daily basis

5. In tally prime, while creating the company, we are not getting any option to encrypt the data. Find
out in which of the following option use Tally Valut Password to encrypt the company data will be
available?
a. In F1: Configure
b. In F10: Configure
c. In F12: Configure
d. In Alt+R key configure

6. If the company sold good to a customer and received cash, which of the following transactions to be
recorded in Tally Prime?
a. Credit voucher
b. Purchase voucher
c. Sales voucher
d. Debit voucher
7. How many types of license editions are available in Tally Prime?
a. 4
b. 5
c. 2
d. 3
8. In Tally Prime, using ___ key, I can navigation from one report to another report without disturbing
the current work.
a. G: Switch To
b. G: Go to
c. K: Company
d. F12: Configure

9. In the ‘sales’ voucher, the party details and dispatch details can be provided by using I: More Details
option in tally prime.
a. False
b. True

10. In which of the following case, the unlocklicense key will be sent to the registered E-mail ID
a. Reactivating Licenses
b. Upgrading Licenses
c. Surrendering License
d. Activating Licenses

11. In tally prime, the sales vouchers can be recorded only with inventory details.
a. False
b. True

12. As per the accounting system, purchase is an income to the company

a. False
b. True

13. Which of the following transaction indicates to recorded the ‘Contra’ voucher in Tally Prime
a. Payment made to Mr.Roy amounted to Rs.8000
b. Purchased goods from Mr.Roy amounted to Rs.8000
c. Transferred Rs,10000 from SBI Bank A/c to Canara Bank A/c
d. Sold goods on cash amounted to Rs.5000

14. In Tally prime, for recording payment voucher in double entry mode, we must click on I: More
Details option from the payment voucher creation screen.
a. True
b. False

15. In tally prime, find out which of the following configuration need to be enabled to provided the
contact details at the time of creating of the company?
a. Alt+R configure
b. F3: Configure
c. F2: Configure
d. F12: Configure
16. In Tally Prime, using ___ short cut key, I can navigation from one report to another report without
saving the current work.
a. F12: Configure
b. K: Company
c. G: Go To
d. G: Switch To

17. After recording the ‘debit note’ voucher for purchase return in Tally Prime, in which of the following
ledger the voucher will have the impact?
a. Sales A/c
b. Purchase A/c
c. Supplier A/c (Sundry Creditors)
d. Customer A/c (Sundry Debtors)

18. Multiple user license can be accessed at the same time through a LAN Connection.
a. False
b. True

19. Which of the following screen will appear after activating the license in Tally Prime?
a. Select company screen
b. Creating of Accounting Master
c. Gateway of Tally Screen
d. Creation of Inventory Master

20. In Tally Prime, when we record the payment transaction in single entry mode only one account is
affected.
a. True
b. False

21. Sales returns must be recorded in the books of account because the value of returned goods must be
deducted from the sales.
a. False
b. True

22. Which of the following are the features of Tally Prime?

a. Multi Tasking
b. Incompetence setup manager
c. Slow in speed
d. Inflexibility
e. Complicate Navigation
f. Easy Navigation

23. Provision are shown on the liabilities side of the balance sheet.
a. False
b. True
24. Debit what comes in: credit what goes out is the golden rules for real accounts.
a. False
b. True
25. Which of the following are the accounting vouchers in tally prime?
a. Delivery Note Voucher
b. Credit Note Voucher
c. Contra Voucher
d. Stock Journal Voucher
e. Receipt Note Voucher
f. Physical Stock Voucher

26. In tally prime, one cannot enter the company’s CIN and PAN details
a. True
b. False

27. After recording the Debit Note voucher in tally prime, which of the foolowing register will have the
impact.
a. Credit Note Register
b. Purchase Register
c. Debit Note Register
d. Contra Register

28. In tally prime, while recording the payment or receipt transaction in single entry mode, ___ accounts
are involved.
a. No
b. Multiple
c. Single
d. Nil

29. In select company screen of tally prime, specify path option is selected in order to define the location
of company folder manually.
a. True
b. False

30. In tally prime, TSS stands for____.

a. Tally Software Service
b. Tally Skill Services
c. Tally Service Software
d. Tally Software Skill

31. As per the accounting system, purchase is an income to the company.

a. False
b. True

32. Which of the following screen will appear after activating the license in tally prime?
a. Creation Of Inventory Masters
b. Gateway Of Tally Screen
c. Select Company Screen
d. Creation Of Accounting Masters
33. In tally prime, to configure “Tally Gateway Server” in client systems, through LAN connection the
tally license must be installed
a. True
b. False

34. In tally prime, under list of company details CIN stands for ___.
a. Corporate Issue Number
b. Corporate Indication Number
c. Corporate Identity Number
d. Company Issue Number

35. Which of the following is the correct navigation path record the purchase voucher in tally prime/
a. From Gateway of Tally > Voucher > F9: Purchase
b. From Gateway of Tally > Display More Reports > Voucher > F9”
c. From Gateway of Tally > Alter > Voucher > F9: Purchase
d. From Gateway of Tally > Create > Voucher > F9: Purchase

36. Debit Note voucher is used for recording purchase returns transaction in Tally Prime.
a. True
b. False

37. In tally prime, a sales return transaction is recorded using a ‘Credit Note’ voucher, generally which is
issued by the seller to the ____.
a. Tax authority
b. Seller and Buyer
c. Buyer
d. Seller

38. In tally prime, by default how many voucher types will be available in the newly created company?
a. 25
b. 23
c. 22
d. 24

39. In Tally Prime by default, the ‘receipt’ voucher will appear in which of the following mode?
a. As Accounting
b. Double Entry
c. Single Entry
d. Accounting Invoice

40. In tally prime, base currency details can be defined at the time of ___ creation.
a. Company
b. Stock Group
c. Stock Category
d. Stock Item
41. As per the accounting system, purchase is an income to the company
a. True
b. False

42. In tally prime, a ‘journal’ voucher can be recorded in which of the following mode.
a. Single Entry
b. Double Entry
c. Accounting Invoice
d. Item Invoice

43. Which of the following option is used to access the data remotely from select company screen of
tally prime>
a. Select Remote Company
b. Select From Drive
c. Alter Company
d. Create Company

44. ‘Raghu Traders paid Rs.50000 as salaries to staff vide HDFC Bank cheque no.908123’ which of the
following voucher types in used for recording the transaction in tally prime.
a. Sales
b. Purchase
c. Payment
d. Receipt

45. ‘Salaries’ is an example of which of the following type of accounts?

a. Nominal Account
b. Real Account
c. Personal Account
d. Real And Personal Account

46. To start tally prime with the default configuration settings, which of the following fill must be
deleted?
a. Tallygfc.tsf
b. Tdlfunc
c. Tallycfg.tsf
d. Tally help

47. In tally prime, we can alter voucher types.

a. True
b. False

48. Which of the following formats are supported to import the bank statement to auto reconcile the
transactions in tally prime?
a. Bitmap e. CSV
b. Excel f. PDF
c. Word
d. Publisher
 49. In tally prime, if the balance sheet is viewed in vertical format, then the balance sheet will display as
___________ and ________
a. Receipts and Payment
b. Fund Flow
c. Cash Flow
d. Sources of Funds
e. Application of Funds
f. Income and Expenses

50. Which of the following report doesn’t fall under financial reports?
a. Profit and Loss A/c
b. Ratio Analysis
c. Balance Sheet
d. Stock Summary

ANSWERS:-

1 C 14 B 27 C 40 A
2 C 15 D 28 B 41 B
3 B,C 16 D 29 A 42 B
4 C 17 A, C 30 A 43 A
5 C 18 B 31 A 44 C
6 C 19 A 32 C 45 A
7 C 20 B 33 A 46 C
8 B 21 B 34 C 47 B
9 B 22 A, F 35 A 48 B, E
10 D 23 B 36 A 49 D, E
11 A 24 B 37 C 50 D
12 A 25 B, C 38 D
13 C 26 B 39 C