Find out which is not a Default Ledger in Tally
A) Cash in Hand
B) Capital Account
C) Profit & Loss
D) None of these
Answer : B
Description :
There are two pre-defined ledgers available in Tally, 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
Suspense Account Group is defined under
A) Income
B) Expenditure
C) Liabilities
D) Assets
Related Questions - 2
Which step is followed to view Purchase Register
A) Gateway of Tally > Display > Sales Register
B) Gateway of Tally > Account Books > Sales Register
C) Gateway of Tally > Display > Account Books > Purchase Register
D) None of these
Related Questions - 3
Which shortcut key is used in Company Features screen to use Accounting Features in Tally
A) F1
B) F2
C) F3
D) F4
Related Questions - 4
Related Questions - 5
Retained Earnings is an alias of
A) Indirect Income
B) Reserve and Surplus
C) Capital Account
D) Investments