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Commerce

Tally MCQs

Practice Tally MCQs for competitive exams.

Tally MCQs

Practice questions from this topic.

Which of the following is not a transaction

  1. A. Goods are purchased on cash basis for Rs 1000
  2. B. Salaries paid for the month of May 20XX
  3. C. Land is purchased for Rs 10 lakhs
  4. D. An employee is dismissed from the job
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A ______ is sent to the seller when he is taken back the sold goods

  1. A. Debit note
  2. B. Credit note
  3. C. Proforma invoice
  4. D. Bill
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A ______ is sent to a customer when he returns the goods

  1. A. Debit note
  2. B. Credit note
  3. C. Proforma invoice
  4. D. Bill
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Which of the following is the example of external users of accounting information

  1. A. Government
  2. B. Owners
  3. C. Management
  4. D. Employee
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Which account is the odd one

  1. A. Furniture
  2. B. Land and buildings
  3. C. Stock of raw materials
  4. D. Plant and machinery
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_____ is an example for tangible assets

  1. A. Furniture
  2. B. Debtors
  3. C. Patent
  4. D. Discount on issue of shares and debentures
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_______ is the expense which is unpaid at the end of the accounting period

  1. A. Outstanding expenses
  2. B. Prepaid expenses
  3. C. Proposed expenses
  4. D. Working capital
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The process of ascertaining the balance of a particular account on a given date is

  1. A. Posting
  2. B. Journalizing
  3. C. Balancing
  4. D. Accounting
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_______ is the book of original entry

  1. A. Journal
  2. B. Voucher
  3. C. Invoices
  4. D. Ledger
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_______ is the collection of all accounts

  1. A. Journal
  2. B. Voucher
  3. C. Invoices
  4. D. Ledger
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______ is an example for long term liabilities

  1. A. Creditors
  2. B. Debentures
  3. C. Overdraft
  4. D. Bills payable
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______ are the liabilities which are payable after a long period

  1. A. Fixed liabilities
  2. B. Miscellaneous expenditure
  3. C. Current liabilities
  4. D. Contingent liabilities
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