USING ACCOUNTING SOFTWARE - Quiz

1) What is the rule for real account?

Debtor the receiver, Creditor the giver Debtor the giver, Creditor the receiver Debit comes in, Credit goes out Debit goes out, Credit comes in

2) Which shortcut key is used to activate calculator in Tally?

Ctrl + C Ctrl + M Ctrl + N Ctrl + T

3) Which activity in Tally is used to find out the financial position of the organisation?

Balance sheet Book-keeping Trading Profit and loss

4) What is referred to as buying and selling of goods?

Normal account Real account Profit and loss account Trading account

5) Which factor determines the cost of the product?

Direct cost Elements of cost Indirect cost Standard cost