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
We can change the Company Information from
A) A Company Info > Back up
B) Company Info > Alter
C) Company Info > Split Company Data
D) None of these
Related Questions - 2
The Profit & Loss statement can be displayed in ________ format(s).
A) Horizontal
B) Vertical
C) A or B
D) None of the above
Related Questions - 3
Which of the following is not a disadvantage of introducing computerized accounting system
A) Possible demotivation through reundance
B) High expenditure on set up
C) Saving made on labour cost
D) Required staff training
Related Questions - 4
The rate of trade discount varies with the ________ purchased
A) Total asset
B) Current asset
C) Quantity
D) None of these
Related Questions - 5
We can modify an existing Company from
A) Company Info > Alter
B) Company Info > Alter Company
C) Gateway of Tally > Modify Company
D) None of these