Tally(Computer Fundamentals ) Questions and answers for exam Preparation

Question 1. Which account is the odd one

Furniture
Land and buildings
Stock of raw materials
Plant and machinery

Explanation:-

Answer: Option C. -> Stock of raw materials
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.

Question 2. Which of the following is the example of external users of accounting information

Government
Owners
Management
Employee

Explanation:-

Answer: Option A. -> Government
Government is the example of external users of accounting information.

Question 3. Which of the following is not a transaction

Goods are purchased on cash basis for Rs 1000
Salaries paid for the month of May 20XX
Land is purchased for Rs 10 lakhs
An employee is dismissed from the job

Explanation:-

Answer: Option D. -> An employee is dismissed from the job
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.

Question 4. A ______ is sent to the seller when he is taken back the sold goods

Debit note
Credit note
Proforma invoice
Bill

Explanation:-

Answer: Option A. -> Debit note
A debit note is sent to the seller when he is taken back the sold goods.

Question 5. A ______ is sent to a customer when he returns the goods

Debit note
Credit note
Proforma invoice
Bill

Explanation:-

Answer: Option B. -> Credit note
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.

Question 6. Tally package is developed by

Peutronics
Tally Solutions
Coral Softwares
Vedika Softwares

Explanation:-

Answer: Option B. -> Tally Solutions
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.

Question 7. Which menu appears after starting Tally for the first time

Gateway of Tally
Company Info
Display
None of these

Explanation:-

Answer: Option B. -> Company Info
After installation, the application opens to the screen shown Company Info

Question 8. Which option is used in Tally to make changes in created company

Select Company
Shut Company
Alter
None of these

Explanation:-

Answer: Option C. -> Alter
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.

Question 9. Which option from Company Info. menu is selected to create a new Company in Tally

Company Create
Create Company
Create
New Company

Explanation:-

Answer: Option B. -> Create Company
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.

Question 10. In general the financial year from shall be from

1st April of any year
31st March of any year
All of them are true
None of these

Explanation:-

Answer: Option A. -> 1st April of any year
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.