Tally Quiz
Tally Your Accounting Knowledge
Test your understanding of accounting principles and practices with our engaging Tally Quiz! This comprehensive quiz covers various topics including asset identification, types of accounts, and key financial concepts.
- Multiple choice questions
- Assess your accounting skills
- Gain insights into financial principles
Identify the asset from following
Payble
Bank Loan
Cash & Cash Equivalent
Creditors
Identify the nominal account
Machinery account
Building account
Creditor account
Rent expenses account
What type of expenses are paid out of gross profit?
General expenses
Selling expenses
Financial expenses
All of above
Goods returned by customer will be debited to which account?
Sales a/c
Purchase a/c
Return Inward
Not Sure
Accounting is a process of matching
Cash inflows & outflows
Benefits & costs
Revenues & costs
Not Sure
Double entry implies that
Recording two aspects of every transaction
Recording entries in journal
Recording every transaction in books
Not Sure
Every bussiness transaction affects at least -----------accounts
One
Two
Three
Not Sure
The other name of Journal is -------
Ledger
Cash book
Day book
Not sure
Cash purchases are recorded in which of the following specialized journals
Sales journal
Purchase journal
Cash payment journal
Not sure
Discount allowed is a kind of deduction from--------
Account payble
Account receivable
Cash account
Discount account
If the trial balance totals do not agree, the difference must be entered in
Petty cash
Nominal account
Suspense account
Capital account
E-way bill is not required for the transportation of
Alcoholic liquor
Ministry of defence goods
Natural gas
All of above
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