Which ledger is created by Tally automatically as soon as we create a new company
A) Cash
B) Profit ; Loss A/c
C) Capital A/c
D) A and B both
Answer : D
Description :
There are two pre-defined (or automatically created) ledgers available in Tally.ERP 9, 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.
Related Questions - 1
Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc.
A) Lts
B) Nos
C) Kgs
D) Box
Related Questions - 2
To get Payroll Reports choose
A) Gateway of Tally > Display
B) Gateway of Tally > Display > Statement of Accounts
C) Gateway of Tally > Display > Statement of Payroll
D) Gateway of Tally > Display > Payroll Reports
Related Questions - 3
How to activate the tally audit feature in a company
A) Press F11 key
B) During the creation of a company
C) In comp info > security control-option
D) Press F12 key
Related Questions - 4
Which submenu is used for voucher entry in Tally
A) Vouchers
B) Accounting Vouchers
C) Accounts Info
D) None of these
Related Questions - 5
Which of the following is the example of external users of accounting information
A) Government
B) Owners
C) Management
D) Employee