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 - 2
Which option is used to place data taken in pen drive or CD to Appropriate place in Tally
A) Backup
B) Restore
C) Split Company Data
D) None of these
Related Questions - 3
Salary comes under ________ Head
A) Direct expense
B) Current liability
C) Indirect expense
D) Current asset
Related Questions - 4
Which menu is used to create new ledgers, groups and voucher types in Tally
A) Reports
B) Import
C) Transactions
D) Masters
Related Questions - 5
Which submenu is used to create new ledgers, groups and voucher types in Tally
A) Account Info
B) Inventory Info
C) Accounting Vouchers
D) Inventory Vouchers