Tally mcq questions With Answer | Accounting ERP Question | Computer Fundamental

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.

Go to Gateway of Tally > F3 : Cmp Info > Restore to view the Restore Companies screen.
Destination - The folder path where your company data is to be restored. Do not restore backup data in the folder where your company data exists, since it may overwrite the existing data.
Source - The folder path where the backup file is stored. You can restore data stored locally on your computer, on any external storage device, or on a storage space on the network.
Select the required companies from the List of Companies . Select All items to restore data of all companies.
Press Ctrl+A to restore the data backup.

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.

A business deals with customers, wholesalers, retailers and many such business parties on a day-to-day basis. Party ledgers (Accounts) is used to record transactions which may involve receipts or payments, or supplies or receipts from these parties.
Gateway of Tally > Accounts Info. > Ledgers > Create

Tally Vault is like a lock which is not going to show company into the list of companies, due to which your company details will not be accessible by anyone and secrecy and privacy can be maintained with the help of that feature. When company will be selected from 'select company' menu, symbol like this ************ will be shown. Thus, not showing any of the details of the company to others.
So Tally Vault is a kind of security feature built in Tally. An advanced level security feature in Tally ERP to keep up confidentiality of information by encrypting the data. Tally Vault uses a password with an advanced algorithm to validate a new user without any prior understanding of the password and the form of data is not located on the device.

Maintain Bill Wise Details is a function that helps to track the details of a voucher entry i.e. Credit Sales or Credit Purchases so important information about that particular voucher or bill is available. It also help to mark payment against particular invoice or bill. To activate this feature in tally:
Gateway of Tally > Press - F11: Accounting Features > Set 'Yes' to 'Maintain Bill wise Details

There are 34 Predefined groups are there in Tally ERP 9. Some of them are Bank Accounts, Current Asset, Secured Loan, Indirect Expense etc. Apart from these pre-defined Groups tally allow us to create under these main groups.

In tally Suspense Account Group is defined under Liabilities.
A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account(s). An entry into a suspense account may be a debit or a credit.

Manufacturing Journal is used to make dispatch of multiple components to manufacture a single product. For Example, A Pen is made by following things: Refill, Nib, Upper Cover, Lower Cover & Cap. To create a manufacturing journal in tally
Gateway of Tally > Inventory Vouchers > F7 : Stk Jrnl .

Gateway of Tally > Inventory Info. > Voucher Types > Create.



Set this option Use a Manufacturing Journal to Yes. Once this option is set to Yes, it will allow to record Manufacturing Journal.