Option “D” is correct. Ledger is the most important part of your company financial records. It constitutes the records of each transaction, such as withdrawal or deposit of money through vouchers.
32.
_______ is the book of original entry.
a.
Journal
b.
Voucher
c.
Invoices
d.
Ledger
Option “A” is correct. Journal is the book of original entry. Journal is that book of accounts in which transactions are recorded first (original) and then posted in ledger. Journal is the day to day book it records daily basis transactions in systematic transactions. It is also called primary book as records transactions very firstly in systematic manner. After the journal, ledger is prepared
33.
The process of ascertaining the balance of a particular account on a given date is-
a.
Posting
b.
Journalizing
c.
Balancing
d.
Option “C” is correct. The process of ascertaining the balance of a particular account on a given date is called Balancing. Balancing of an account is to total both debit and credit sides of an account and putting the difference on that side which is shorter. All ledger accounts are usually closed and balanced at the end of an accounting period. The main reason for balancing is to ascertain the precise position of a business enterprise at a particular period of time. It is worth mentioning here that only permanent accounts are balanced and carried forward to the balance sheet.
34.
_______ is the expense which is unpaid at the end of the accounting period
a.
b.
c.
d.
Option “A” is correct. Outstanding expenses are those expenses which have been incurred during the current accounting period and are due to be paid, however, the payment is not made. Such an item is to be treated as a payable for the business.
35.
_____ is an example for tangible assets
a.
Furniture
b.
Debtors
c.
Patent
d.
Option “A” is correct. A tangible asset is an asset that has a finite monetary value and usually a physical form. Tangible assets include land, equipment, furniture, vehicles, cash, inventory etc.
36.
eTCS means-
a.
b.
c.
d.
Option “B” is correct. eTCS stands for Electronic Tax Collected at Source
37.
To get Payroll Reports choose-
a.
b.
c.
d.
Option “D” is correct. Gateway of Tally > Display > Payroll Reports
38.
BOM represents-
a.
b.
c.
d.
Option “B” is correct. A bill of materials (BOM) is a comprehensive inventory of the raw materials, assemblies, subassemblies, parts and components, as well as the quantities of each, needed to manufacture a product. This facilitates immediate reduction in stock of the item automatically. This process of listing the items that make up another item is made possible in Tally by enabling the Bill of Materials Facility. Bill of Material (BoM) is created only for those items that are being assembled in-house. Therefore, you need to specify a BoM at the time of creating a Stock Item or while altering the stock item. For trading items, you do not need a BoM.
39.
“Alias” represents-
a.
b.
c.
d.
Option “D” is correct. An Alias in Tally is, an another name given to Tally master, alias is a Secondary Name to Same master, It can be Short name, Nick Name, Code Name, Part Number etc as per business needs.
40.
If we purchase any fixed asset in credit, we can pass it from-
a.
b.
c.
d.
Option “C” is correct. To account a fixed asset purchase in tally, normally we use journal voucher in earlier versions of tally. But now you can use purchase voucher to enter purchase of fixed assets in latest versions of tally ERP9. To activate fixed asset purchase in purchase voucher, Gateway of Tally > F12 Configure > Voucher Entry Allow expense/fixed assets in purchase vouchers : Yes
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Iam sai krishna . Iam from 8th standard .
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Have you ever considered publishing an ebook or guest authoring on other sites? I have a blog based on the same subjects you discuss and would really like to have you share some stories/information. I know my viewers would enjoy your work. If you are even remotely interested, feel free to send me an email.