In Tally, there are ________ predefined ledgers.
A) One
B) Two
C) Three
D) Four
Answer : B
Description :
There are two pre-defined 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
Which of the following is used for voucher entry?
A) Ledger Account
B) Groups
C) Sub-Groups
D) Depends on number of companies
Related Questions - 2
Retained Earnings is an alias of
A) Indirect Income
B) Reserve and Surplus
C) Capital Account
D) Investments
Related Questions - 3
How can data be imported in tally
A) One company to another company created within Tally Package
B) Other programs – a spreadsheet or a database file
C) Depends on number of companies
D) Both A and B
Related Questions - 4
To hide the name of the Company you need to define
A) Security Control
B) Tally Audit
C) Create at least one User
D) Tally Vault Password