50+ Tally Prime Questions and Answers

खालील काही प्रश्न आणि उत्तरे टॅली PRIME साठी आहेत, 50+ Tally Prime Questions and Answers

Que.1 : GST comes under Duties & Taxes

A : TRUE

B : FALSE

Right Answer : A

Que.2 : What is the maximum rate of CGST prescribed under the CGST Act 2017?

A : 14%

B : 23%

C : 10%

D : 20%

Right Answer : A

Que.3 : Carriage Inward / Freight Inward comes under

A : Balance Sheet

B : Profit & Loss A/c

C : Trading A/c

D : None of These

Right Answer : C

Que.4 : Rule for Real A/c “Debit the Receiver and Credit the giver

A : TRUE

B : FALSE

Right Answer : B

Que.5 : Capital A/c comes under

A : Liabilities

B : Assets

C : Income

D : Expenses

Right Answer : A

Que.6 : What are the taxes levied on an Intra state supply?

A : SGST

B : CGST

C : IGST

D : Both SGCT and CGST

Right Answer : D

Que.7 : Advertisement & Sales Promotion Expenses comes under Direct Expenses

A : TRUE

B : FALSE

Right Answer : B

Que.8 : GST is a ________________ based tax on the consumption of goods and services.

A : dividend

B : duration

C : destination

D : none of the above

Right Answer : C

Que.9 : Secondary Books

A : Ledger

B : Cash Book

C : Purchase Book

D : Journal

Right Answer : A

Que.10 : Which constitutional amendment was done to pass the GST bill?

A : 120

B : 101

C : 115

D : 122

Right Answer : B

Que.11 : Reserve & Surplus is subgroup of Capital A/c

A : TRUE

B : FALSE

Right Answer : A

Que.12 : Every Business transaction affects at least 2 accounts

A : TRUE

B : FALSE

Right Answer : A

Que.13 : Petty Cash Book is used for daily small expenses

A : TRUE

B : FALSE

Right Answer : A

Que.14 : Tata Motors Shares purchased comes under

A : Investments

B : Capital A/c

C : Current Assets

D : None of These

Right Answer : A

Que.15 : Audit Fees is Direct Expenses

A : TRUE

B : FALSE

Right Answer : B

Que.16 : In India Finacial Year Starts From

A : 1st Jan to 31st Dec

B : 1st April to 31st March

C : Diwali to Diwali

Right Answer : B

Que.17 : What does ‘I’ in IGST stand for?

A : Integrated

B : Internal

C : International

D : Important

Right Answer : A

Que.18 : Dividend Comes Under Profit & Loss Appropriation A/c

A : TRUE

B : FALSE

Right Answer : A

Que.19 : GST will be levied on:

A : Consumers

B : Manufacturers

C : Retailers

D : All of the above

Right Answer : D

Que.20 : Salary Payable Comes Under

A : Provisions

B : Prepaid

C : Current Assets

D : Indirect Expenses

Right Answer : A

Que.21 : Rule for Nominal A/c “Debit What Comes in and Credit What Goes Out”

A : TRUE

B : FALSE

Right Answer : B

Que.22 : Suspens a/c is imaginary and temporary a/c

A : TRUE

B : FALSE

Right Answer : A

Que.23 : Rule for Nominal A/c “Debit All Expenses & Losses & Credit All Gains & Income”

A : TRUE

B : FALSE

Right Answer : A

Que.24 : T.D.S. deducted by deductor comes under

A : Indirect Expenses

B : Duties & Taxes

C : Current Assets

Right Answer : B

Que.25 : Short Cut Key for Calculator in TallyPrime is Alt+N

A : TRUE

B : FALSE

Right Answer : B

Que.26 : Packing Material comes under

A : Balance Sheet

B : Profit & Loss A/c

C : Trading A/c

D : None of These

Right Answer : C

Que.27 : The value of supply of goods and services shall be:

A : Market value

B : Transaction value

C : Maximum Retail Price

D : None of the above

Right Answer : B

Que.28 : Deposits with Electricity Supplier comes under

A : Current Liabilty

B : Fixed Deposit

C : Current Assets

D : All of These

Right Answer : C

Que.29 : Power & Fuel is Direct Expenses

A : TRUE

B : FALSE

Right Answer : A

Que.30 : Prepaid Expenses

A : Indirect Expenses

B : Direct Expenses

C : Current Assets

D : Current Liability

Right Answer : C

Que.31 : What is the full form of HSN in GST?

A : Humanity System Numbers

B : Harmonized System of Nomenclature

C : Home Shopping Network

D : none of the above

Right Answer : B

Que.32 : Which of the following taxes will be levied of import of goods and services?

A : IGST

B : CGST

C : SGST

D : None of the above

Right Answer : A

Que.33 : Cash Transactions means Cash Receipts and Cash Payments

A : TRUE

B : FALSE

Right Answer : A

Que.34 : Repairs & Maintenance comes under

A : Profit & Loss A/c

B : Balance Sheet

C : Trading A/c

D : All of These

Right Answer : A

Que.35 : Depreciation decreases value of Current Assets

A : TRUE

B : FALSE

Right Answer : B

Que.36 : Intagible Assets like Goodwill, Logos, Patents & Trade Marks, comes under

A : Personal A/c

B : Real A/c

C : Nominal A/c

Right Answer : B

Que.37 : Depreciation comes under

A : Balance Sheet

B : Profit & Loss A/c

C : Trading A/c

D : None of These

Right Answer : B

Que.38 : Bad Debts are Indirect Expenses

A : TRUE

B : FALSE

Right Answer : A

Que.39 : Computer is

A : Current Liabilty

B : Current Assets

C : Fixed Asset

Right Answer : C

Que.40 : What is the location of supply in case of importation of goods?

A : Customs port where the goods are cleared.

B : Place where goods are delivered after clearance from customs.

C : Location of the importer.

D : Location where the goods are sent from.

Right Answer : C

Que.41 : To Cancel Voucher Short Cut Key is Alt+D

A : TRUE

B : FALSE

Right Answer : B

Que.42 : Gross Profit = (Net Sales+Closing Stock) – Cost of Sales

A : TRUE

B : FALSE

Right Answer : A

Que.43 : Profit & Loss Debit Balance for Ltd co. comes under

A : Reserves & Surplus

B : Misc. Expenses (Assets)

C : Current Liability

D : None of These

Right Answer : B

Que.44 : Contra entry is used for funds transfer entries between cash & bank

A : TRUE

B : FALSE

Right Answer : A

Que.45 : Wear & Tear of Assets during the working of an organistion is called as