Tally ERP 9 Quiz
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Questions and Answers

What is necessary to manipulate data to transform it into a report output in Tally?

  • Supplier Suspense Order
  • Information (correct)
  • All of the above

    • Tally can maintain budgets on Transactions Net Closing Balance.

    False

    What does Tally include as an asset on the balance sheet?

    inventory

    The default financial year in Tally 6.3 is from 1-4-1995 to _____

    <p>31-3-1996</p> Signup and view all the answers

    Match the following financial statements with their format in Tally:

    <p>Balance sheet &amp; Profit &amp; Loss = Vertical Daybook = Horizontal Cash and bank = Profit &amp; loss and trial balance</p> Signup and view all the answers

    Which generation of computer was developed from microchips?

    <p>Fourth generation</p> Signup and view all the answers

    Which generation of computer uses more than one microprocessor?

    <p>Fifth generation</p> Signup and view all the answers

    Which generation of computer was developed using integrated circuits?

    <p>Third generation</p> Signup and view all the answers

    Which generation of computer was developed using solid-state components?

    <p>Fifth generation</p> Signup and view all the answers

    What is the main purpose of a memory address register?

    <p>store memory locations</p> Signup and view all the answers

    Which of the following is NOT a component of a CPU?

    <p>VSAT</p> Signup and view all the answers

    What do the abbreviations VAB stand for?

    <p>Voice answer back</p> Signup and view all the answers

    An inked ribbon is used in an impact printer.

    <p>True</p> Signup and view all the answers

    What are the individual dots which make up a picture on the monitor screen called? _spots

    <p>Pixels</p> Signup and view all the answers

    What control would prevent the accidental erasure of customer information from a magnetic tape?

    <p>Limited access</p> Signup and view all the answers

    What is hard copy used to describe?

    <p>output</p> Signup and view all the answers

    Which storage device has the largest capacity in Mb?

    <p>A CD-ROM disk</p> Signup and view all the answers

    Which key can be used to select an existing company from the list of companies in Tally?

    <p>F1</p> Signup and view all the answers

    Import and Export of data between Tally and other programs is possible only through Tally ODBC Program.

    <p>False</p> Signup and view all the answers

    What triggers a stock replenishment activity in Tally?

    <p>TRUE</p> Signup and view all the answers

    How many main options do all masters have in Tally?

    <p>Three</p> Signup and view all the answers

    In Tally, to create a new column in the balance sheet, what keys should be pressed?

    <p>Alt+C</p> Signup and view all the answers

    In Tally, the use of group behaves like a sub-ledger, option is that we can summarize many ledger accounts into one line.

    <p>True</p> Signup and view all the answers

    In Tally, we can alter ledger details using either single or multiple modes but not able to delete a ledger from multiple modes.

    <p>True</p> Signup and view all the answers

    Match the systems with the correct descriptions:

    <p>Purchasing and Accounts Payable = D Receiving and Accounts Receivable = C Stock Transfer and Receiving Reports = B Money Order and Stock Valuation = A</p> Signup and view all the answers

    MS Access objects can be published on the web.

    <p>True</p> Signup and view all the answers

    Customers can be permitted to enter their own data into the firm’s computer using the firm’s wide area network with ________ Data.

    <p>Electronic</p> Signup and view all the answers

    Which of the following are examples of actions in Code-Builder?

    <p>Enter</p> Signup and view all the answers

    Tally allows to delete a ledger from ________ alteration mode.

    <p>Single</p> Signup and view all the answers

    To build complex _expressions, Code Builder is used.

    <p>calculator</p> Signup and view all the answers

    Match the following types of reports with their descriptions:

    <p>Tabular = Layout displays one record at a time Columnar = Report can be created with minimum user input Datasheet = Layout displays records in a table format</p> Signup and view all the answers

    In MS-Access, references constraint is used for creating foreign keys.

    <p>True</p> Signup and view all the answers

    What is used to create a mailing label in MS-Access?

    <p>wizard</p> Signup and view all the answers

    Which of the following steps are involved in developing an information system?

    <p>Analysis, Design, and Testing</p> Signup and view all the answers

    Generalized audit software performs auditors to undertake any past records and not concurrent auditing.

    <p>False</p> Signup and view all the answers

    What are CAAT's used for?

    <p>Processing data if audit significance is contained in an entity information system</p> Signup and view all the answers

    Computer Assisted Audited Technique involves the use of computers through a 'Black Box Approach'.

    <p>False</p> Signup and view all the answers

    What is the first step for developing CAAT?

    <p>Determine the audit objective</p> Signup and view all the answers

    The transition from a manual system to a CIS environment bring dramatic changes including the absence of accounting codes.

    <p>True</p> Signup and view all the answers

    Check digit is a group of numbers added to a code for:

    <p>Determining the accuracy of other digits in the code</p> Signup and view all the answers

    Hierarchical code means primary attribute component to entities of the entity.

    <p>False</p> Signup and view all the answers

    The validation checks applied to a field depend on the field's logical interrelationships with other fields in the record.

    <p>True</p> Signup and view all the answers

    Embedded code is software used by the auditor to:

    <p>Perform a wide variety of audit tasks</p> Signup and view all the answers

    Mapping software is used by the auditor to list unused program instructions.

    <p>True</p> Signup and view all the answers

    What does JCL stand for?

    <p>Job Control Language</p> Signup and view all the answers

    Match the following software with their descriptions:

    <p>Core image comparison = Software used to compare versions of a program with secure copies Database analyzer = Software providing detailed database operation information Source code review = Examining erroneous or ineffective code for advice</p> Signup and view all the answers

    Wildcard characters represent any number of characters.

    <p>True</p> Signup and view all the answers

    A bound control is tied to an underlying query or table.

    <p>True</p> Signup and view all the answers

    A calculated control uses an expression as a source of data.

    <p>True</p> Signup and view all the answers

    Text boxes cannot be bound controls.

    <p>False</p> Signup and view all the answers

    The default query invoked by MS-Access is:

    <p>Select query</p> Signup and view all the answers

    A control can be bind to a record using the row source property.

    <p>False</p> Signup and view all the answers

    List box is a control that offers a list of choices.

    <p>True</p> Signup and view all the answers

    If a table is joined to itself, it is called a:

    <p>Self join</p> Signup and view all the answers

    A picture box combines the activities of both a text box or a list box.

    <p>False</p> Signup and view all the answers

    Line is a toolbox control.

    <p>True</p> Signup and view all the answers

    The type of queries that can update or delete record(s) in a table(s) are called?

    <p>Action queries</p> Signup and view all the answers

    Primary key uniquely identifies each record.

    <p>True</p> Signup and view all the answers

    Which dialog box is/are used in the creation of a new form?

    <p>Wizard dialog box</p> Signup and view all the answers

    In MS-Access, users may specify criteria for filter in form view using a wildcard character, which is represented by:

    <ul> <li></li> </ul> Signup and view all the answers

    Records cannot be sorted by a primary key.

    <p>False</p> Signup and view all the answers

    A control without a data source is known as?

    <p>Unbound control</p> Signup and view all the answers

    Match the following control types with their descriptions:

    <p>Bound control = Control types that are associated with a data source Unbound control = Control types that do not have a data source Data-less control = Control types without data source Data control = Control types that bind to data</p> Signup and view all the answers

    Study Notes

    Tally Key Features

    • The F1 key is used to select an existing company from a list of companies.
    • Import and Export of data between Tally and other programs is possible only through the ODBC program.
    • The re-order point is the inventory quantity that triggers a stock replenishment activity.
    • A company's details can be modified through the F3 key.
    • An invoice is the official notice sent to customers to advise them of the amount of money owed.
    • In Tally, all masters have four main options.
    • To create a new column in a balance sheet, press Alt+Ctrl+C.
    • The use of a group in Tally behaves like a sub-ledger, allowing the summarization of many ledger accounts into one line.
    • In Tally, ledger details can be altered using either single or multiple modes, but it is not possible to delete a ledger from multiple modes.
    • A group company is marked with a * symbol.
    • The systems that work together to order, receive, and pay for replenishment of stock are Purchasing, Accounts Payable, and Receiving.
    • Tally allows the deletion of a ledger from a single alteration mode.
    • Cash Flow Statement, Fund Flow Statement, and Ratio Analysis are useful for management in decision-making.

    Vouchers and Invoices

    • A created company's details can be modified through the F3 key.
    • In Tally, Types of Accounts and Types of Vouchers passed during the period can be seen in the Day Book report.
    • The Ledger Accounts are unique in Financial Accounting Packages.
    • Customers can be permitted to enter their own data into the firm's computer using the Enterprise Data.
    • In Tally, vouchers can be customized as per the requirements.
    • The number of steps in Accounts Compilation is 5.

    Data Management

    • In Tally, the use of a group classifies the accounts under different heads, allowing for summarized information.
    • Revenue Account is also known as a Nominal Account.
    • Method of Voucher Numbering is Manual and Automatic.
    • Accounts Receivable are displayed in the Balance Sheet, Profit & Loss Journal, and Journal Book.
    • To assemble a product from different items, a Journal entry is used.
    • A purchase order data flow is directed to the purchasing system for use in closing out the outstanding purchase orders in the receiving system diagram.

    Reporting and Analysis

    • Tally provides at least 16 predefined voucher formats.
    • The value of the inventory is included in a ledger account and is displayed as an asset on the Balance Sheet.
    • From the voucher entry mode, if you press F5, you get the payment voucher in Tally.
    • Default Cost Category in Tally is Primary Cost Category.
    • A Group Company is simply a name and an identity given to the merged accounts of member companies of the group.
    • In ratio analysis report of Tally FA package, you press F6 to display the bills receivable and bills payable report.
    • The Profit & Loss statement can be displayed in Horizontal and Vertical formats.

    Security and Administration

    • In Tally, 'Tally Vault' is a security mechanism that encrypts and stores TALLY DATA at the data directory.
    • Default 'godown' name in Tally is 'Main location'.
    • In Tally, you get the currency symbol option from the Regional Setting menu.
    • A Group Company is also given a name and an identity to the merged accounts of member companies of the group.
    • Projected approximation of income or expenses is called Budget.
    • Administrator type user is also called 'Auditor' of a company in Tally.

    Shortcut Keys

    • F1 key is used to select an existing company from a list of companies.
    • F3 key is used to modify a company's details.
    • F4 key is used to display the age-wise analysis of Bills Receivable or Bills Payable report.
    • F5 key is used to create a sales voucher in Tally.
    • F7 key is used to create a stock journal entry in Tally.
    • F11 key is used to create a log of the import activity in a file.
    • Ctrl+F3 key is used to display company information.
    • Alt+F1 key is used to import and export data between Tally and other programs.
    • Alt+Ctrl+C key is used to create a new column in a balance sheet.
    • Alt+P key is used to print a report.### Accounts and Groups
    • A user designated as an administrator can view the audit list.
    • Tally supports importing company data from another company or a created database.
    • In an accounting information system, subsidiary files are used for transactions, such as inventory, cash, and payroll.

    Computer-Based Systems

    • A computer-based system is more efficient than a manual system for transaction processing.
    • It produces accurate financial statements and eliminates the need to reconcile accounts.

    Memory and Data Transfer

    • The memory address register is used to store data to be transferred to memory.
    • Data is transferred from memory to a register or another memory location.

    Computer Fundamentals

    • Inefficient usage of excess computer equipment can be controlled by contingency planning and capacity planning.
    • The CPU does not include the NIC Card, VSAT, or RAM card as components.
    • A trailer label is used on a magnetic tape file to summarize the file and provide totals.

    Output Devices

    • Hard copy is a term used to describe printed output on a hard board.
    • A daisy wheel is a type of printer.
    • An impact printer creates characters by using an inked ribbon.

    Security Controls

    • The best security control in a microcomputer environment is to restrict physical access and use unremovable media.
    • A control to prevent accidental erasure of customer information from a magnetic tape is to use a validity check and boundary protection.

    Input Devices

    • The individual dots that make up a picture on a monitor screen are called pixels.
    • A flatbed plotter is used with a printer, but not with a pen, paper, or eraser.

    Data Storage

    • The amount of data that a disk may contain is known as the disk's capacity.
    • A laser printer does not use an ink ribbon.
    • Magnetic tape is a serial access medium.
    • Hard disks can have a storage capacity in the region of 20 GB.
    • A CD-ROM has a larger capacity in Mb than a floppy disk.
    • Floppy disks should be stored away from magnet objects and sunny windows.

    Computer Chips

    • ROM chips are non-volatile, storing permanent data and instructions.
    • RAM chips are volatile, storing temporary data.
    • A computer chip can hold 8 bits of information.
    • Cache is a small high-speed memory unit used for storing temporary results.

    Computer Systems

    • Software can be divided into two areas: system software and application software.
    • Travel agents use personal computers when reserving flights.
    • Vacuum tube-based electronic computers are of the first generation.
    • The second generation of computers was developed using transistors.
    • The third generation of computers used integrated circuits.
    • The fourth generation of computers developed using microchips.
    • The fifth generation of computers uses more than one microprocessor.### Database Systems
    • Three steps involved in developing an information system: analysis, programming, and specific design.
    • Generalized audit software is used for CAAT (Computer-Assisted Auditing Techniques) and is not used for concurrent auditing.
    • CAATs are computer programs and data that an auditor uses as part of audit procedures to process data.

    CAATs

    • CAATs do not contain package programs, purpose-written programs, utility programs, or system management programs.
    • Embedded audit routines are sometimes built into an entity's computer system to provide data for later use by the auditor.
    • SCARF involves embedding audit software modules within an application system to provide continuous monitoring.
    • Concurrent auditing involves the use of auditors as members of the system, and regular cross-system verification may minimize frauds.

    Computer Security

    • Computer security is frequently associated with confidentiality, integrity, and authentication.
    • Data reserve engineering involves processing metadata to document system and abstract business rules and relationships.

    Database Connectivity

    • Using the open database connectivity feature in ACL can bring all the data directly or indirectly.

    Computer-Assisted Auditing Techniques

    • Computer-Assisted Auditing Techniques involve the use of computers through the "Black Box Approach" and require auditors to have expert knowledge.
    • White Box Approach is necessary and involves expert knowledge on the part of the auditor.

    System Development

    • Systems development control includes authorization, approval, testing, implementation, and documentation of new systems software and system software modifications.

    System Characteristics

    • A system can be natural or made, open or closed, physical or conceptual.
    • A system exhibits 'entropy' (a measure of disorder or randomness).

    System Development and Controls

    • Computer operation controls are designed to provide access to computer systems by all concerned personnel.
    • Systems development control includes authorization, approval, testing, implementation, and documentation of new systems software and system software modifications.

    System Types

    • Supercomputers are the largest and fastest, suitable for commercial applications, including audit work.
    • Assembler language uses mnemonic symbols.
    • Operating systems are devised to optimize machine capabilities, manage multiple jobs and resources, and enable resource sharing.

    Processing and Controls

    • Batch processing involves processing transactions one after another.
    • On-line processing refers to grouping transactions and processing them in one go.
    • Real-time processing involves updating files with transaction data immediately after the event occurs.
    • Time-sharing systems allow access to a CPU from remote terminals.
    • DSS (Decision Support System) is a system that provides tools to managers to assist them in solving structured problems.

    File Management

    • Master files contain current records for identification and summarizing.
    • Transaction files contain relatively permanent records.
    • File volatility refers to the number of additions and deletions to the file in a given period.
    • File activity is the proportion of transaction file records that are actually used and accessed in a given processing run.
    • File interrogation refers to the retrieval of information from a file.
    • One-to-one relationship means a single entity to a single entity in a monogamous structure.

    Database Management

    • RDBMS (Relational Database Management System) is structured to a series of 2-dimensional tables.
    • SADB (Structured Audit Data Base) is affected by database software and safety.

    Controls and Checks

    • Controls are present over many aspects of the computer system and its surrounding social environment.
    • In framed checking, data entry is checked against an expected picture or format.
    • Errors are correlated on a quarterly basis.
    • Field check is exclusive to a field.
    • Benford's law states that there is a specific probability of the first digit of a number being 1, 2, 3, etc.
    • Check digit is a group of numbers added to a code for determining the accuracy of other digits in the code.

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