Question :
A) Income
B) Expenditure
C) Liabilities
D) Assets
Answer : C
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.
Related Questions - 1
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 - 2
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
Related Questions - 3
Reversing journal is a
A) Conventional Voucher
B) Unconventional Voucher
C) Both (a) and (b)
D) None of these
Related Questions - 4
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
Related Questions - 5
Company features in tally includes
A) Accounting features
B) Inventory features
C) Statutory features
D) All of the above