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
Where do we record transactions of salary, rent or interest paid
A) Contra
B) Journal
C) Receipt
D) Payment
Related Questions - 2
Which of the following is the example of external users of accounting information
A) Government
B) Owners
C) Management
D) Employee
Related Questions - 3
Default ‘godown’ name in tally is ________
A) Primary
B) Main location
C) A or B
D) None of the above
Related Questions - 4
We can get the report of Interest from
A) Account Books
B) Cash and Fund flow
C) Inventory Books
D) Statements of Accounts
Related Questions - 5
Company Restore option is available in
A) Company Features
B) Company Information
C) Configuration
D) None of these