Question Paper

1. What is Tally ERP 9 used for?

a) Inventory Management
b) Financial Accounting
c) Payroll Management
d) All of the above

2. Which of the following is NOT a feature of Tally ERP 9?

a) Multilingual support
b) Automatic tax calculations
c) Graphic designing
d) Accounting for multiple businesses

3. In Tally, which option is used to create a new company?

a) F2: Date
b) F1: Company
c) F3: Company
d) F11: Features

4. Which report in Tally shows the details of income and expenses for a period?

a) Profit & Loss Account

b) Balance Sheet
c) Cash Flow Statement
d) Trial Balance

5. Which voucher type in Tally is used for recording sales transactions?

a) Payment Voucher
b) Receipt Voucher
c) Sales Voucher
d) Journal Voucher

6. What is the primary purpose of a ledger in accounting?

a) To track daily transactions

b) To record financial position
c) To group similar accounts
d) To manage inventory
7. Which of the following is NOT a type of ledger in Tally?

a) Sales Ledger
b) Purchase Ledger
c) Bank Ledger
d) Income Tax Ledger

8. In Tally, the shortcut key to open the Chart of Accounts is:

a) Ctrl + A
b) Alt + C
c) Ctrl + L
d) Ctrl + C

9. Which of the following is the correct entry in Tally for a cash purchase of Rs. 5000?

a) Debit Purchase, Credit Cash

b) Debit Cash, Credit Purchase
c) Debit Purchase, Credit Bank
d) Debit Bank, Credit Purchase

10. In Tally, what is the primary purpose of the 'Group' option?

a) To maintain stock
b) To categorize similar accounts
c) To calculate taxes
d) To generate reports

11. Which of the following is a Tally report that shows the list of pending payments?

a) Sales Register
b) Purchase Register
c) Outstanding Receivables
d) Trial Balance

12. What is the primary function of the 'Inventory' feature in Tally?

a) To track sales
b) To manage accounts
c) To track goods and stock levels
d) To prepare tax returns

13. Which of the following accounting entries represents an increase in assets?

a) Debit Asset, Credit Liability
b) Debit Liability, Credit Asset
c) Debit Expense, Credit Asset
d) Debit Asset, Credit Expense

14. In Tally, the shortcut key to generate a Balance Sheet is:

a) Alt + B
b) Alt + S
c) Ctrl + B
d) Alt + F1

15. In Tally, what does the 'F11' key option help to do?

a) Open a new voucher

b) Set up company features
c) Print reports
d) Enter transactions

16. Which of the following is an example of a liability account?

a) Accounts Receivable
b) Accounts Payable
c) Cash
d) Capital

17. In accounting, what is the primary purpose of a 'Trial Balance'?

a) To determine net profit

b) To check the arithmetical accuracy of books
c) To calculate tax payable
d) To track inventory

18. Which of the following entries represents a payment made for a service?

a) Debit Cash, Credit Service Income

b) Debit Service Expense, Credit Cash
c) Debit Accounts Payable, Credit Service Income
d) Debit Service Expense, Credit Accounts Receivable

19. What is the default currency symbol in Tally?

a) $,
b) ₹
c) €
d) £

20. Which of the following Tally features helps you to manage multiple businesses from a single
software?

a) Multi-Currency Support
b) Multi-Company Accounting
c) Job Costing
d) Payroll Management

21. What is the purpose of the 'Bank Reconciliation' feature in Tally?

a) To reconcile the bank balance with cash balance

b) To match company bank transactions with bank statements
c) To manage payroll
d) To prepare tax calculations

22. In Tally, the shortcut key for 'Journal Voucher' is:

a) F7
b) F5
c) F8
d) F9

23. Which of the following is an example of an income account in accounting?

a) Accounts Receivable
b) Sales Revenue
c) Capital
d) Purchase Expense

24. Which of the following Tally vouchers is used for entering adjustments or corrections?

a) Sales Voucher
b) Receipt Voucher
c) Journal Voucher
d) Payment Voucher

25. Which of the following accounts is typically a current liability?

a) Long-term Debt
b) Bank Loan
c) Accounts Payable
d) Capital

26. In Tally, what is used to record all types of transactions related to cash?

a) Cash Book
b) Bank Ledger
c) Cash Ledger
d) Payment Voucher

27. Which of the following is an asset account?

a) Cash in Bank
b) Accounts Payable
c) Loan Payable
d) Capital

28. What is the purpose of the 'Profit & Loss' statement in Tally?

a) To calculate net worth of the company

b) To calculate revenue and expenses
c) To track inventory
d) To prepare tax returns

29. Which accounting principle is the basis for double-entry bookkeeping?

a) Accrual Principle
b) Matching Principle
c) Revenue Recognition Principle
d) Dual Aspect Principle

30. What is the accounting equation?

a) Assets = Liabilities + Capital

b) Assets = Revenue + Liabilities
c) Liabilities = Assets + Expenses
d) Assets = Capital + Expenses

31. Which of the following is considered a non-current liability?

a) Short-term loan
b) Bank overdraft
c) Long-term debt
d) Accounts payable
32. What does Tally use for tracking inventory?

a) Stock Items
b) Grouping Accounts
c) Voucher Types
d) Company Creation

33. In Tally, how do you activate the GST feature for transactions?

a) F11: Features
b) F12: Configuration
c) F1: Company
d) F3: Company

34. In Tally, what does 'Cost Center' mean?

a) A place where stock is stored

b) A tool for tracking revenue and expenses for specific areas of business
c) A method for calculating taxes
d) A form of bank reconciliation

35. Which of the following reports in Tally displays information about receivables and payables?

a) Balance Sheet
b) Trial Balance
c) Outstanding Reports
d) Inventory Report

36. In accounting, which of the following is an example of a revenue account?

a) Interest Expense
b) Rent Income
c) Accounts Receivable
d) Capital

37. Which of the following is used in Tally to prepare a tax summary report?

a) Income Statement
b) GST Report
c) Profit & Loss Account
d) Trial Balance
38. Which shortcut in Tally helps you create a new ledger?

a) Ctrl + L
b) Alt + C
c) F5
d) F6

39. In Tally, which of the following options is used for closing a company’s financial year?

a) F1: Company
b) Alt + C: Close Company
c) F12: Configuration
d) Alt + F1: Financial Year

40. What is the basic principle behind accrual accounting?

a) Transactions are recorded when cash is received or paid

b) Transactions are recorded only when goods are delivered
c) Transactions are recorded when they occur, not when cash is exchanged
d) Transactions are recorded only at the end of the year

41. In Tally, the shortcut key to print a report is:

a) Ctrl + P
b) Alt + P
c) F5
d) F9

42. In accounting, which of the following is an example of a fixed asset?

a) Bank Deposit
b) Inventory
c) Building
d) Accounts Payable

43. Which of the following is a primary purpose of the Balance Sheet?

a) To show the financial position of the company at a specific date

b) To track daily expenses
c) To calculate taxes owed
d) To prepare an income summary

44. Which of the following is NOT a method for accounting for inventory in Tally?
a) Perpetual Inventory
b) Periodic Inventory
c) FIFO
d) Weighted Average

45. What does the Tally ERP 9 ‘Audit & Compliance’ feature help with?

a) Managing employees
b) Preparing financial reports
c) Managing tax and audit requirements
d) Generating invoices

46. What is the function of the 'Voucher' in Tally?

a) To create reports
b) To record financial transactions
c) To manage stock items
d) To reconcile bank balances

47. What does the 'Stock Group' feature in Tally help with?

a) Grouping similar stock items for reporting

b) Managing supplier details
c) Creating vouchers
d) Maintaining journal entries

48. In accounting, which of the following represents the owner’s equity?

a) Assets - Liabilities
b) Assets + Liabilities
c) Liabilities - Assets
d) Assets + Expenses

49. Which of the following is NOT a part of the accounting cycle?

a) Journalizing
b) Posting to ledgers
c) Reconciling bank statements
d) Preparing financial statements

50. What is the purpose of the 'Inventory Valuation' in Tally?

a) To track daily sales

b) To manage stock items
c) To calculate the total value of stock at a specific point in time
d) To calculate tax on sales

Short Cut Key Questions

1. Which shortcut key is used to create a new company in Tally?

a) F1
b) F3
c) F2
d) F4

2. To activate the 'Alter' option for a company in Tally, which key is used?

a) F4
b) F6
c) F2
d) F8

3. Which key is used to open the 'Gateway of Tally' in Tally?

a) Ctrl + A
b) Ctrl + G
c) Alt + G
d) Ctrl + O

4. In Tally, which key is used to open the 'Ledger Creation' screen?

a) Ctrl + L
b) F7
c) F9
d) Alt + C

5. What is the shortcut key to create a new voucher in Tally?

a) F9
b) F7
c) F5
d) F6

6. To access 'Bank Reconciliation' in Tally, which key do you press?

a) Alt + B
b) Ctrl + B
c) F11
d) F10

7. What is the shortcut key for 'Daybook' in Tally?

a) Alt + D
b) Ctrl + D
c) Alt + F1
d) F12

8. Which key is used to view the 'Profit and Loss Account' report in Tally?

a) F8
b) Alt + P
c) Alt + F1
d) F3

9. Which key is used to open the 'Trial Balance' in Tally?

a) Alt + T
b) Ctrl + T
c) F12
d) F5

10. In Tally, which key is used to open the 'Receipt Voucher'?

a) F7
b) F5
c) F9
d) Alt + F9

11. Which key opens the 'Payment Voucher' in Tally?

a) F5
b) F7
c) F9
d) Alt + F8

12. What is the shortcut to view the 'Balance Sheet' in Tally?

a) Alt + B
b) F11
c) Ctrl + B
d) F1
13. Which key is used to open 'Accounts Info.' in Tally?

a) Alt + A
b) Ctrl + I
c) F11
d) Alt + I

14. Which shortcut key is used to enable or disable the 'Multi-Account Voucher'?

a) Alt + M
b) Ctrl + A
c) Alt + V
d) Ctrl + M

15. To alter a voucher entry in Tally, which key is used?

a) F5
b) Alt + A
c) F6
d) Ctrl + F

16. Which key is used to open the 'Stock Summary' report in Tally?

a) Alt + S
b) F7
c) Alt + T
d) F8

17. Which key is used to print a report in Tally?

a) Ctrl + P
b) Alt + P
c) F9
d) F8

18. To go back to the previous screen in Tally, which key should be pressed?

a) Esc
b) Alt + E
c) F4
d) Ctrl + Z
19. Which key is used to open the 'Inventory Info.' section in Tally?

a) Ctrl + I
b) Alt + I
c) F2
d) F5

20. To activate 'GST' feature in Tally, which key is used?

a) F3
b) F11
c) Alt + G
d) Ctrl + G

21. Which key is used to view 'Voucher Type' in Tally?

a) Alt + V
b) F10
c) Ctrl + V
d) F7

22. Which key is used to enter a 'Journal Voucher' in Tally?

a) F7
b) F9
c) F5
d) F8

23. Which key is used to open the 'Stock Item Creation' screen in Tally?

a) F4
b) Alt + F1
c) Ctrl + F7
d) Alt + C

24. In Tally, which key is used to alter a company?

a) F2
b) F4
c) Alt + F1
d) Alt + F4

25. What is the shortcut key to open 'Cash/Bank Book' in Tally?

a) Alt + C
b) Ctrl + B
c) Alt + K
d) F12

26. Which key is used to print a voucher in Tally?

a) Ctrl + P
b) Alt + P
c) F8
d) F9

27. What is the shortcut key to open 'Payroll Info.' in Tally?

a) Alt + P
b) F9
c) Ctrl + P
d) F6

28. Which key is used to access 'Print/Email Invoices' in Tally?

a) F8
b) Ctrl + E
c) Alt + P
d) F3

29. In Tally, which key is used to close the application?

a) Ctrl + Q
b) Ctrl + F12
c) Alt + F4
d) Ctrl + W

30. Which key is used to open 'Balance Sheet' in Tally?

a) F5
b) Alt + F1
c) Ctrl + B
d) Alt + B

31. To change the period in Tally, which shortcut key is used?

a) F1
b) F2
c) F4
d) Alt + C

32. What is the shortcut key for 'Inventory Reports' in Tally?

a) Alt + F12
b) Alt + I
c) Ctrl + I
d) Ctrl + F1

33. To create a new ledger in Tally, which key is used?

a) F7
b) F9
c) Ctrl + L
d) Alt + L

34. Which key is used to open the 'GST Reports' section in Tally?

a) Alt + G
b) F11
c) Alt + R
d) F12

35. Which key is used to open the 'Tally Net' feature?

a) Alt + N
b) Ctrl + N
c) F7
d) Alt + X

36. To open the 'Sales Register' report in Tally, which key is used?

a) Alt + R
b) Ctrl + R
c) F6
d) F10

37. Which key is used to apply or remove the 'Security Control' in Tally?

a) Alt + S
b) F6
c) Ctrl + S
d) Ctrl + F9
38. Which key is used to enter the 'Inventory Voucher' in Tally?

a) F8
b) F7
c) F9
d) F5

39. In Tally, what key is used to export reports?

a) Alt + E
b) Ctrl + E
c) Alt + F1
d) F12

40. Which key is used to open the 'Accounts Books' in Tally?

a) Alt + A
b) Ctrl + B
c) F1
d) F2

41. To view the 'Stock Group' report in Tally, which key is used?

a) Ctrl + G
b) Alt + G
c) F11
d) F12

42. Which key is used to switch between multiple companies in Tally?

a) Alt + F1
b) Ctrl + F1
c) Alt + F3
d) F2

43. Which key is used to enable or disable 'Multilingual' feature in Tally?

a) F12
b) Ctrl + M
c) Alt + M
d) F3
44. Which shortcut key is used to go to the 'Display More Reports' option in Tally?

a) Alt + D
b) Ctrl + M
c) Alt + M
d) Ctrl + D

45. To close a report in Tally, which key should be pressed?

a) Esc
b) Alt + F4
c) Ctrl + X
d) F10

46. Which key is used to open the 'Voucher Printing' option in Tally?

a) F6
b) Ctrl + P
c) Alt + P
d) F8

47. Which key is used to show the 'Audit Trail' in Tally?

a) Alt + A
b) Ctrl + T
c) Alt + T
d) F11

48. To create a new stock group, which key is used?

a) F3
b) Alt + F3
c) Alt + G
d) F7

49. Which shortcut is used to open the 'Payroll Reports' in Tally?

a) Ctrl + P
b) Alt + P
c) F9
d) Alt + S

50. Which key is used to open the 'VAT Reports' in Tally?

a) Alt + V
b) Ctrl + V
c) Alt + T
d) F5