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
Company features in tally includes
A) Accounting features
B) Inventory features
C) Statutory features
D) All of the above
Related Questions - 2
Related Questions - 3
The options ‘use common narration’ and ‘narration each entry’ appear
A) Account creation screen
B) Voucher entry screen
C) F11 Accounting features
D) Voucher type creation screen
Related Questions - 4
We can see Working Capital figure changing
A) Voucher configuration
B) Profit & Loss configuration
C) Balance Sheet configuration
D) Ledger configuration
Related Questions - 5
Single Entry mode is applicable for
A) Receipt Voucher
B) Contra Voucher
C) Payment Voucher
D) All of these