1. Which of the financial statement uses the expanded accounting equation?
a) Income Statement b) Balance Sheet c) Cash flow statement d) Statement of Shareholder’s Equity 2. Which account is not liability account? a) Accounts Payable b) Accrued Expense c) Bills Receivable d) Bills Payable 3. Salary is a ________ a) Direct expense . b) Indirect expense . c) Outstanding expense . d) None of the above . 4. Net profit is calculated in the..............? a) Trial Balance b) Profit & Loss Account c) Trading Account d) Balance Sheet 5. Which sub menu is used to create new ledgers, groups and voucher types in tally a) Accounts Info b) Inventory Info c) Accounting Voucher d) Inventory Voucher 6. Which option is used to make changes in created groups of ledgers in tally a) Create b) Display c) Alter d) Change 7. Default ledger accounts in tally are.................. a) Balance sheet & profit and loss & trial balance b) Profit and loss & Trial balance c) Cash & Profit and Loss d) Cash and Bank 8. Which option is used to view trail balance from gateway of tally a) Gateway of Tally > reports > Trial balance b) Gateway of Tally > Trial balance c) Gateway of Tally > Reports > Display > Trial balance d) None of these 9. Where we can find the tally feature “Maintain Bill Wise details”? a) F11 > Accounting Feature > Invoicing b) F11 > Accounting Feature > General c) F11 > Accounting Feature > Outstanding Management d) F11 > Accounting Feature > Other Features 10. To activate Job Costing in Tally which option required to be activated a) Maintain Cost Center b) Use Cost Center for Job Costing c) Both (a) & (b) d) None of these 11. We can show bill wise details of Debtor and Creditor by activating a) Bill by Bill b) Maintain bill wise details c) Maintain reference d) None of these 12. F12 key used for_________________ a) Company Info b) Features c) Configurations d) Change period 13. How many option related to company features are there in F11 Features a) 1 b) 2 c) 3 d) 4 14. To declare a voucher as post dated press______ a) Ctrl + T b) Ctrl + D c) Alt + T d) Alt + D 15. Closing Stock appears in _____________ a) Journal Voucher b) Trail Balance c) Profit & Loss A/C d) Balance Sheet 16. Which shortcut is used for Date period change in tally? a) Alt + F2 b) Alt + F1 c) Ctrl + F2 d) Ctrl + F1 17. Who is the Chairman of GST council? a) RBI Governor b) Prime Minister c) President of India d) Finance Minister 18. While recording Local GST purchase invoice, we have to record............ a) IGST b) CGST c) SGST d) SGST & CGST 19. Contra Voucher is used for _________ a) Reports b) Master Entry c) Cash account to Bank Account or Bank Account to Cash account d) None of the option 20. We can show bill wise details of Debtor and Creditor by activating a) Bill by Bill b) Maintain bill wise details c) Maintain reference d) None of these
14 Collier Bankr - Cas.2d 1215, Bankr. L. Rep. P 71,050 in Re Gerald T. Black and Denise B. Black, Debtors. Garth L. Driggs v. Gerald T. Black, 787 F.2d 503, 10th Cir. (1986)