Question :

Which reports are prepared monthly in Tally?


A) Profit ; Loss A/C
B) Balance Sheet
C) Trial Balance
D) Cash Flow of Funds Flow

Answer : C

Description :


Trial balance is a list of ledger accounts balances, showing debit balances and credit balances, separately on a certain date. Trial balance is only a statement not an account. Every transaction has equal debit and credit aspects so that the trial balance possesses equal debit and credit balances. Preparing trial balances monthly will help you to fix errors as soon as it happens.


Related Questions - 1


We can see Working Capital figure changing


A) Voucher configuration
B) Profit & Loss configuration
C) Balance Sheet configuration
D) Ledger configuration

View Answer

Related Questions - 2


How many inbuilt Accounts group are in tally by default


A) 29
B) 31
C) 25
D) 34

View Answer

Related Questions - 3


Default ledger accounts in tally are ________


A) Balance sheet profit & loss and trial balance
B) Profit & loss and trial balance
C) Cash and profit & loss accounts
D) Cash and bank accounts

View Answer

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

View Answer

Related Questions - 5


‘Tally vault’ is a ________


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

View Answer