Question :

Party account can be created through


A) Group creation window
B) Ledger creation window
C) Inventory creation window
D) Any one of them

Answer : B

Description :


A business deals with customers, wholesalers, retailers and many such business parties on a day-to-day basis. Party ledgers (Accounts) is used to record transactions which may involve receipts or payments, or supplies or receipts from these parties.


Gateway of Tally > Accounts Info. > Ledgers > Create


Related Questions - 1


Recording of actual stock as physically verified or counted is done through


A) Journal
B) Stock Journal
C) Physical Stock
D) Sales

View Answer

Related Questions - 2


Which of the following is compulsory to create while entry in Accounts with Inventory


A) Stock Groups
B) Stock Items
C) Units of Measure
D) All of these

View Answer

Related Questions - 3


‘Tally vault’ is a ________


A) Security mechanism
B) Ledger a/c
C) Cost category
D) None of the above

View Answer

Related Questions - 4


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

View Answer

Related Questions - 5


Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally


A) Journal
B) Payment
C) Contra
D) Receipt

View Answer