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 in Tally to close opened Company
A) Alter
B) Shut Company
C) Create Company
D) Select Company
Related Questions - 2
Related Questions - 3
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
Related Questions - 4
Which option is used to open company created in Tally
A) Create Company
B) Alter
C) Select Company
D) Shut Company
Related Questions - 5
Sales return are recorded in ________ Voucher
A) Sales voucher
B) Debit note
C) Receipt
D) Credit note