Chapter 10: Introduction to TallyPrime and Accounting for Trading concerns using TallyPrime — Online MCQ Test
AUDITING · CLASS 12th · Tamil Nadu State Board
Practice Chapter 10: Introduction to TallyPrime and Accounting for Trading concerns using TallyPrime with a free chapter-wise online MCQ test.
This chapter covers: Introducing computerized accounting software this chapter covers practical applications of TallyPrime for commercial enterprises. Students learn company creation ledger setup vouch....
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Chapter 10: Introduction to TallyPrime and Accounting for Trading concerns using TallyPrime — Important Questions & Answers
What is TallyPrime mainly used for in accounting?
- A. Drawing charts and graphs
- B. Maintaining computerized accounts
- C. Typing only office letters
- D. Editing photographs
Answer: B. Maintaining computerized accounts
TallyPrime is accounting software used to record, classify, and generate financial reports for business transactions.
TallyPrime is accounting software used to record, classify, and generate financial reports for business transactions.
In TallyPrime, the first step before entering transactions is usually to create a ______.
- A. company
- B. salary sheet
- C. stock register
- D. trial balance
Answer: A. company
A company must be created first so that all ledgers, vouchers, and reports are maintained under that business entity.
A company must be created first so that all ledgers, vouchers, and reports are maintained under that business entity.
A trader wants to record money received from a customer for old dues. Which voucher should be used?
- A. Receipt voucher
- B. Journal voucher
- C. Sales voucher
- D. Contra voucher
Answer: A. Receipt voucher
Receipt voucher is used when money is received, especially from debtors or other sources.
Receipt voucher is used when money is received, especially from debtors or other sources.
A business buys furniture for cash in TallyPrime. Which is the most suitable entry pattern?
- A. Debit Furniture, Credit Cash
- B. Debit Cash, Credit Furniture
- C. Debit Purchase, Credit Sales
- D. Debit Capital, Credit Loan
Answer: A. Debit Furniture, Credit Cash
Furniture is an asset purchased, so it is debited and cash is credited because cash goes out.
Furniture is an asset purchased, so it is debited and cash is credited because cash goes out.
A trader received cash from the owner as additional investment. Which ledger account is credited?
- A. Drawings account
- B. Capital account
- C. Sales account
- D. Purchase account
Answer: B. Capital account
When the owner introduces new capital, Capital account is credited because the business receives additional funds from the owner.
When the owner introduces new capital, Capital account is credited because the business receives additional funds from the owner.