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 of the following is used for voucher entry?
A) Ledger Account
B) Groups
C) Sub-Groups
D) Depends on number of companies
Related Questions - 3
Integrated accounts with inventory is available in
A) F12 configuration
B) F11 features
C) Inventory info
D) Accounts info
Related Questions - 4
Reversing journal is a
A) Conventional Voucher
B) Unconventional Voucher
C) Both (a) and (b)
D) None of these
Related Questions - 5
Which of the following can be budgeted in tally
A) Nett Transactions
B) Closing Balance
C) Both A and B
D) None of the above