Question :

The Profit & Loss statement can be displayed in ________ format(s).


A) Horizontal
B) Vertical
C) A or B
D) None of the above

Answer : C

Description :


The Profit & Loss A/c is a periodic statement, which shows the net result of business operations for a specified period. All the expenses incurred and incomes earned during the reporting period are recorded here. The Profit & Loss A/c is in horizontal form, by default. It can be view in vertical format by enabling the option Show Vertical Profit & Loss? by clicking F12: Configure


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Which menu appears after starting Tally for the first time


A) Gateway of Tally
B) Company Info
C) Display
D) None of these

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How many secondary groups are there in Tally


A) 15
B) 13
C) 28
D) 3

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Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc.


A) Lts
B) Nos
C) Kgs
D) Box

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ERP stands for


A) Enterprise resource planning
B) Economic resource planning
C) Efficient resource planning
D) Economic resource processing

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Related Questions - 5


The Profit & Loss statement can be displayed in ________ format(s).


A) Horizontal
B) Vertical
C) A or B
D) None of the above

View Answer