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
‘Allow components list details (Bill of Materials)’ option is activated for
A) Ledgers
B) Cost Category
C) Stock Items
D) Budgets
Related Questions - 2
Which of the following shows daily balance for a selected voucher type
A) Day book
B) Trial Balance
C) Balance Sheet
D) None of the above
Related Questions - 3
A ______ is sent to the seller when he is taken back the sold goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill
Related Questions - 4
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 - 5
To see reports of Job Work Analysis
A) Display > Statements of Accounts > Job Work Analysis
B) Display > Job Work In Reports > Job Work Analysis
C) Display > Statements of Accounts> Cost Centre > Job Work Analysis
D) None of these