Suspense Account Group is defined under
A) Income
B) Expenditure
C) Liabilities
D) Assets
Answer : C
Description :
In tally Suspense Account Group is defined under Liabilities. A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account(s). An entry into a suspense account may be a debit or a credit.
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Which option is used to view list of Primary and Secondary groups in Tally
A) List of Accounts
B) Accounts
C) List
D) None of these
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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
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Which shortcut key is used in Company Features screen to use Accounting Features in Tally
A) F1
B) F2
C) F3
D) F4
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A) Journal
B) Receipt Note
C) Stock Journal
D) Purchase Quotation