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
Salary Account comes under which head
A) Indirect Incomes
B) Indirect Expenses
C) Direct Incomes
D) Direct Expenses
Related Questions - 2
Related Questions - 3
How many options related to Company Features are there in “F11: Features” in Tally
A) 3
B) 2
C) 4
D) 5
Related Questions - 4
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 - 5
Employee salary details are shown in
A) Attendance sheet
B) Gratuity papers
C) Exact reports
D) Payroll