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MCQ TALLY QUIZ TALLY MCQ Questions TALLY Questions Answer for Interview
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Question No. -
221
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Goodwill of the deceased partner will be debited in remaining partners’ capital Account in ratio.
Goodwill of the deceased partner will be debited in remaining partners’ capital Account in ratio.
A.
old
old
B.
new
new
C.
sacrifice
sacrifice
D.
gaining
gaining
Question No. -
222
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At the time of retirement of a partner, goodwill will be credited in partner’s capital Account.
At the time of retirement of a partner, goodwill will be credited in partner’s capital Account.
A.
old
old
B.
gaining
gaining
C.
retiring
retiring
D.
All of these.
All of these.
Question No. -
223
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At the time of retirement of a partner, account is prepared.
At the time of retirement of a partner, account is prepared.
A.
revaluation A/c
revaluation A/c
B.
profit and loss A/c
profit and loss A/c
C.
balance sheet
balance sheet
D.
All of these.
All of these.
Question No. -
224
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The retiring/deceased partner must be compensated in the form of premium (goodwill) for the share of profit in favour of continued partners. .
The retiring/deceased partner must be compensated in the form of premium (goodwill) for the share of profit in favour of continued partners. .
A.
sacrificed
sacrificed
B.
gained
gained
C.
obtained
obtained
D.
None of these.
None of these.
Question No. -
225
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A, B and C are partners sharing profits in ratio 4 : 3 : 2. B retires, selling his share of profit to A and C for ₹ 7200 (₹. 4,000 paid by A and B 3,200 paid by C). The new profit sharing ratio of A and C would be:
A, B and C are partners sharing profits in ratio 4 : 3 : 2. B retires, selling his share of profit to A and C for ₹ 7200 (₹. 4,000 paid by A and B 3,200 paid by C). The new profit sharing ratio of A and C would be:
A.
17:10
17:10
B.
15:12
15:12
C.
19 : 8
19 : 8
D.
None of these
None of these
Question No. -
226
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Profit or loss on revaluation of assets and liabilities at the time of retirement of a partner is shared by
Profit or loss on revaluation of assets and liabilities at the time of retirement of a partner is shared by
A.
all partners in their old ratio
all partners in their old ratio
B.
remaining partners in old ratio
remaining partners in old ratio
C.
remaining partners in gaining ratio
remaining partners in gaining ratio
D.
retired partner only
retired partner only
Question No. -
227
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At the time of death of a partner account is prepared.
At the time of death of a partner account is prepared.
A.
Representative Account
Representative Account
B.
Deceased Partner’s Capital A/c
Deceased Partner’s Capital A/c
C.
Profit and Loss Account
Profit and Loss Account
D.
All of these.
All of these.
Question No. -
228
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After retirement of a partner, share of remaining partner will
After retirement of a partner, share of remaining partner will
A.
increase
increase
B.
decrease
decrease
C.
not change
not change
D.
postpone.
postpone.
Question No. -
229
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Retirement of a partner is of partnership firm.
Retirement of a partner is of partnership firm.
A.
dissolution
dissolution
B.
winding up
winding up
C.
reconstitution
reconstitution
D.
None of these
None of these
Question No. -
230
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If there is any baiance left unpaid to the retiring / deceased partner, then interest @ will be given in the absence any provision of partnership deed.
If there is any baiance left unpaid to the retiring / deceased partner, then interest @ will be given in the absence any provision of partnership deed.
A.
6 %
6 %
B.
57 %
57 %
C.
5.5 %
5.5 %
D.
6.5 %
6.5 %
Question No. -
231
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What is tally
What is tally
A.
a windows-based Enterprise Resource Planning software
a windows-based Enterprise Resource Planning software
B.
Enterprise Resource Planning hardware
Enterprise Resource Planning hardware
C.
Both A and B
Both A and B
D.
None of these
None of these
Question No. -
232
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What is the use of Tally?
What is the use of Tally?
A.
handles Accounting, Inventory Management, Order Management, Tax Management,
Payroll, Banking and many such requirements of the business
handles Accounting, Inventory Management, Order Management, Tax Management,
Payroll, Banking and many such requirements of the business
B.
handles word processing
handles word processing
C.
creates PPTs
creates PPTs
D.
None of the above
None of the above
Question No. -
233
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What is the advantage of a computer based transaction processing system?
What is the advantage of a computer based transaction processing system?
What is the advantage of a computer based transaction processing system?
A.
Does not require as stringent a set of internal controls
Does not require as stringent a set of internal controls
B.
produce a more accurate set of financial statements
produce a more accurate set of financial statements
C.
Eliminates the need to reconcile control accounts
Eliminates the need to reconcile control accounts
D.
more efficient at producing financial statements
more efficient at producing financial statements
Question No. -
234
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Who is the founder of Tally?
Who is the founder of Tally?
A.
Shyam Sunder Goenka
Shyam Sunder Goenka
B.
Danis Ritchi
Danis Ritchi
C.
Lerdrof
Lerdrof
D.
James
James
Question No. -
235
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What is the full form of Tally?
What is the full form of Tally?
A.
Transactions Allowed in a Linear Yards
Transactions Allowed in a Linear Yards
B.
Transactions Allowed in a Linear Line Year
Transactions Allowed in a Linear Line Year
C.
Transactions Allowed in a Linear Line Yards
Transactions Allowed in a Linear Line Yards
D.
Transactions Accounting in a Linear Line Yards
Transactions Accounting in a Linear Line Yards
Question No. -
236
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Which option is used to copy company's data into PenDrive or CD
Which option is used to copy company's data into PenDrive or CD
A.
Backup
Backup
B.
Restore
Restore
C.
Split Company Data
Split Company Data
D.
Copy Data
Copy Data
Question No. -
237
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What is the use of Tally GST software in India
What is the use of Tally GST software in India
A.
handles all your GST (Goods and Services Tax) billing needs
handles all your GST (Goods and Services Tax) billing needs
B.
Tax
Tax
C.
Goods
Goods
D.
Service Tax
Service Tax
Question No. -
238
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What do you mean by TAN
What do you mean by TAN
A.
Tax Absorb Number
Tax Absorb Number
B.
Tax Assign Number
Tax Assign Number
C.
Tax Account Number
Tax Account Number
D.
Tax Assessment Number
Tax Assessment Number
Question No. -
239
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Payroll Auto fill is done thorugh
Payroll Auto fill is done thorugh
A.
Press Alt and A Keys together
Press Alt and A Keys together
B.
Press Alt and B Keys together
Press Alt and B Keys together
C.
Press Ctrl and A Keys together
Press Ctrl and A Keys together
D.
Press Ctrl and B Keys together
Press Ctrl and B Keys together
Question No. -
240
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Bank OCC (Open cash credit) account is a group defined under?
Bank OCC (Open cash credit) account is a group defined under?
Bank OCC (Open cash credit) account is a group defined under?
A.
Bank Account
Bank Account
B.
Loan and Liability
Loan and Liability
C.
Secured Loan
Secured Loan
D.
Unsecured Loan
Unsecured Loan
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