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 option is used to make changes in created Groups of Ledgers in Tally
A) Create
B) Display
C) Alter
D) Change
Related Questions - 2
Which account is the odd one
A) Furniture
B) Land and buildings
C) Stock of raw materials
D) Plant and machinery
Related Questions - 3
Discount Column is available in
A) Sales Invoice
B) Purchase Invoice
C) Both (a) and (b)
D) None of these
Related Questions - 4
We can use Stock Journal for
A) Production and Consumption
B) Inter Godown transfer for stock
C) Both (a) and (b)
D) None of these
Related Questions - 5
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