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
Full form of ODBC
A) Open database connectivity
B) Open database calculating
C) Open document basically
D) Order data base connection
Related Questions - 2
Sales return are recorded in ________ Voucher
A) Sales voucher
B) Debit note
C) Receipt
D) Credit note
Related Questions - 3
Which of the following is the predefined stock category in tally
A) Primary
B) Symbol
C) Stock
D) Main location
Related Questions - 4
Which of the following can be budgeted in tally
A) Nett Transactions
B) Closing Balance
C) Both A and B
D) None of the above
Related Questions - 5
Single Entry mode is applicable for
A) Receipt Voucher
B) Contra Voucher
C) Payment Voucher
D) All of these