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MCQ TALLY - ACCOUNTING MASTERS IN TALLY ERP9 MCQ Questions
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Question No. -
11
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If the credit side of Receipts and Payments A/c exceeds the debit side, the balance represents:
If the credit side of Receipts and Payments A/c exceeds the debit side, the balance represents:
A.
Bank charges
Bank charges
B.
Commission
Commission
C.
Bank overdraft
Bank overdraft
D.
Interest
Interest
Question No. -
12
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No cash transaction will be excluded from:
No cash transaction will be excluded from:
A.
Balance Sheet
Balance Sheet
B.
Profit & Loss A/c
Profit & Loss A/c
C.
Receipts and Payments
Receipts and Payments
D.
Income and Expenditure A/c
Income and Expenditure A/c
Question No. -
13
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In Receipts and Payments A/c, cash in hand or at the bank is put on:
In Receipts and Payments A/c, cash in hand or at the bank is put on:
A.
Credit side
Credit side
B.
Left-hand side
Left-hand side
C.
Right-hand side
Right-hand side
D.
None of these
None of these
Question No. -
14
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The task of preparing Income and Expenditure A/c and the Balance Sheet commences after the preparation of the:
The task of preparing Income and Expenditure A/c and the Balance Sheet commences after the preparation of the:
A.
Trial Balance
Trial Balance
B.
Profit and loss A/c
Profit and loss A/c
C.
Trading A/c
Trading A/c
D.
Cash A/c
Cash A/c
Question No. -
15
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In Income and Expenditure A/c all revenue expenses are entered on:
In Income and Expenditure A/c all revenue expenses are entered on:
A.
Assets side
Assets side
B.
Left-hand side
Left-hand side
C.
Liabilities side
Liabilities side
D.
Right-hand side
Right-hand side
Question No. -
16
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In the Income and Expenditure Account all revenue receipts are entered on:
In the Income and Expenditure Account all revenue receipts are entered on:
A.
Assets side
Assets side
B.
Left-hand side
Left-hand side
C.
Right-hand side
Right-hand side
D.
Liabilities side
Liabilities side
Question No. -
17
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Partnership deed may be _______
Partnership deed may be _______
A.
oral
oral
B.
written
written
C.
duplicate
duplicate
D.
either written or oral
either written or oral
Question No. -
18
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If no agreement is made by partners then interest on loan will be given @ _________
If no agreement is made by partners then interest on loan will be given @ _________
A.
5% p.a.
5% p.a.
B.
6% p.a.
6% p.a.
C.
no interest
no interest
D.
7% p.a
7% p.a
Question No. -
19
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Profit will be divided in ________ in the absence of partnership deed.
Profit will be divided in ________ in the absence of partnership deed.
A.
1 : 1
1 : 1
B.
2 : 1
2 : 1
C.
1 : 2
1 : 2
D.
equal ratio
equal ratio
Question No. -
20
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In a partnership, liability of all partners is _________
In a partnership, liability of all partners is _________
A.
unlimited
unlimited
B.
limited
limited
C.
according to capital
according to capital
D.
decided by company act
decided by company act
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