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
Answer : C
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
Which voucher type is used to transfer amount from one bank to another
A) Contra
B) Payment
C) Receipt
D) Post-Dated
Related Questions - 2
To activate Job Costing which options require to be activated
A) Maintain Cost Centre
B) Use Cost Centre for Job Costing
C) Both A and B
D) None of these
Related Questions - 3
Related Questions - 4
Which of the following shows daily balance for a selected voucher type
A) Day book
B) Trial Balance
C) Balance Sheet
D) None of the above
Related Questions - 5
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