Tally MCQ With Answers Set 2

Tally MCQ
 Quiz Set123

Question 1. A firm or an individual or a Hindu Undivided Family (HUF) whose books of account are required to be audited under section 44AB shall furnish the return of income electronically under digital signature.

(A) TRUE

(B) FALSE

View Answer
(A) TRUE  

Question 2. A company can file its return electronically without digital signature.

(A) TRUE

(B) FALSE

View Answer
(B) FALSE  

Question 3. A partnership firm required to get its books of account audited shall file the return of income electronically with or without digital signature?

(A) TRUE

(B) FALSE

View Answer
(B) FALSE  

Question 4. A resident and ordinarily resident individual/HUF having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India shall furnish the return of income electronically with a digital signature.

(A) TRUE

(B) FALSE

View Answer
(B) FALSE  

Question 5. TDS (Tax deducted at source) was deducted on interest from tax- saving Fixed Deposits (FDs) The tax payer?

(A) Will not have to report the income because tax has already been paid

(B) Has to add the income to his annual income and pay additional tax if necessary

(C) Can claim a refund of the TDS because these were tax saving fixed deposit

(D) Any of the above.

View Answer
(B) Has to add the income to his annual income and pay additional tax if necessary 

Question 6. Where the return of income is electronically filed without digital signature and without using electronic verification code, then a copy of ITR-V, duly signed by the taxpayer, is to be sent (within the period specified in this regard, i.e., 120 days) by ordinary post or speed post or courier to “Income-tax Department – CPC, Post Bag No. 1, Electronic City Post Office, Bengaluru–560100 (Karnataka).

(A) TRUE

(B) FALSE

View Answer
(B) FALSE 

Question 7. Which sub menu is used to create new ledger, groups and voucher types in tally?

(A) Account Info

(B) Accounting Vouchers

(C) Inventory Vouchers

(D) Inventory Info

View Answer
(A) Account Info 

Question 8. Number of digit in a PAN card is __________.

(A) 7

(B) 9

(C) 10

(D) 8

View Answer
(C) 10

Question 9. Related fields in a database are grouped to form a?

(A) Data file

(B) Data record

(C) Bank

(D) Menu

View Answer
(B) Data record 

Question 10. If the recipient of income doesn’t furnish his PAN to deductor then TDS is to be deducted at which rate?

(A) 10%

(B) 15%

(C) 5%

(D) 20%

View Answer
(D) 20% 

Question 11. Which option is used in Tally to make changes in created company?

(A) Shut Company

(B) Select Company

(C) Alter

(D) None of these

View Answer
(C) Alter  

Question 12. A report generator is used to?

(A) Delete files

(B) Print files on paper

(C) Data entry

(D) Update files

View Answer
(B) Print files on paper 

Question 13. To creating voucher, step after GOT is? 

(A) Accounts info

(B) Accounting vouchers

(C) Inventory vouchers

(D) Inventory info

View Answer
(A) Accounts info 

Question 14. Salary Account comes under which head?

(A) Indirect Incomes

(B) Indirect Expenses

(C) Direct Incomes

(D) Direct Expenses

View Answer
(B) Indirect Expenses 

Question 15. Which shortcut key is used in Company Features screen to use Inventory features in Tally? 

(A) F1

(B) F2

(C) F4

(D) F3

View Answer
(B) F2 

Question 16. Which menu appears after starting tally for the first time?

(A) Gateway of Tally

(B) Company Info

(C) Display

(D) None of these

View Answer
(B) Company Info 

Question 17. Which shortcut key to zoom in Tally?

(A) Alt+P

(B) Alt+Z

(C) Alt+Ctrl+Z

(D) None of these

View Answer
(B) Alt+Z 

Question 18. We deduct _______ after computing tax liability, to determine the actual tax payment.

(A) Advance tax

(B) TDS

(C) TCS

(D) Both i & ii

View Answer
(D) Both i & ii 

Question 19. Which key is used to post credit purchase in Tally?

(A) F8

(B) F9

(C) F10

(D) F2

View Answer
(B) F9

Question 20. Which shortcut key is used in company for statutory and taxation in Tally? 

(A) F11 And Then F3

(B) F12 And Then F3

(C) Alt+F11

(D) Alt+Ctrl+F11

View Answer
(A) F11 And Then F3 

Question 21. In Tally functions of F3 button _________.

(A) To close the company

(B) To select the different company

(C) To change the current date

(D) To select the company

View Answer
(B) To select the different company

Question 22. Where do we record transactions of Salary, Rent paid? 

(A) Contra

(B) Journal

(C) Receipt

(D) Payment

View Answer
(D) Payment

Question 23. All payments are entered under Accounting Voucher in Tally through?

(A) F5

(B) F6

(C) F7

(D) F8

View Answer
(A) F5

Question 24. Is it possible to load companies with the same name at the same time?

(A) Yes

(B) No

(C) Always possible

(D) Sometimes possible

View Answer
(B) No 

Question 25. For Bad Debt Recovery which group required to be selected?

(A) Indirect income

(B) Direct income

(C) Direct expenses

(D) Indirect expenses

View Answer
(A) Indirect income  
 Quiz Set123