41. Default ledger accounts in tally are ________
a.
b.
c.
d.

Option “C” is correct.
There are two pre-defined ledgers available in Tally, they are:

Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.

Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.

You cannot delete this ledger, but you can modify the same.
42. Default ‘godown’ name in tally is ________
a. Primary
b.
c.
d.

Option “B” is correct.
Default ‘godown’ name in tally is Main location.
43. ‘Tally vault’ is a ________
a.
b.
c.
d.

Option “A” is correct.
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.
44. A Group Company is ________ given to the merged accounts of member companies of the group-
a.
b.
c.
d.

Option “C” is correct.
A Group Company is a name and an identity given to the merged accounts of member companies of the group.
45. In tally you get currency symbol option from ________ menu.
a.
b.
c.
d.

Option “A” is correct.
In tally we get currency symbol option from Company creation menu.
46. Which of the following user type can view audit list-
a.
b. Owner
c.
d. Administrator

Option “D” is correct.
The auditor / administrator can display or print the Tally Audit Listing and verify the transactions made. In case the auditor /administrator is satisfied with the authenticity of the transaction or the changes made, he will accept all or selective transactions by clicking the relevant button. Once the transactions are accepted, they are removed from the audit listing and will not be displayed again.
47. How can data be imported in tally?
a. One company to another company created within Tally Package
b.
c.
d.

Option “D” is correct.
Data can be imported into Tally in XML format. It can be done from data created in previous versions of Tally or from third party applications.
48. Which of the following file is usually used as a master file
a.
b.
c.
d.

Option “A” is correct.
Inventory subsidiary is usually used as a master file.
49. What is the advantage of a computer-based transaction processing system-
a.
b.
c.
d.

Option “D” is correct.
A computer-based transaction processing system will be more efficient at producing financial statements.
50. Which of the following can be budgeted in tally?
a.
b.
c.
d.

Option “C” is correct.
Nett Transactions and Closing Balance can be budgeted in tally.
‘On Closing Balance’ option is used to compare the closing balances of the Accounts with the budgets in the final statements. ‘On Nett Transactions’ is used to monitor the transaction amounts (not the balances) for a specified period.
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