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
Where do we record transactions of salary, rent or interest paid
A) Contra
B) Journal
C) Receipt
D) Payment
Related Questions - 2
Related Questions - 3
Which option is selected from Company Info Menu to divide company data into two financial years
A) Change Tally Vault
B) Alter
C) Split Company Data
D) New Company
Related Questions - 4
Which of the following user type can view audit list
A) Tally Vault
B) Owner
C) Data Entry
D) Administrator
Related Questions - 5
Which of the following is not a transaction
A) Goods are purchased on cash basis for Rs 1000
B) Salaries paid for the month of May 20XX
C) Land is purchased for Rs 10 lakhs
D) An employee is dismissed from the job