QUIZ ON : tally - ACCOUNTING MASTERS IN TALLY ERP9

An increase in the value of an assets will be recorded in the _______ side of revaluation account. An increase in the value of an assets will be recorded in the _______ side of revaluation account.

At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner, in absence of any agreement among partners, when (s)he opts for interest and not share of profit. At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner, in absence of any agreement among partners, when (s)he opts for interest and not share of profit.

Retirement of a partner is of partnership firm. Retirement of a partner is of partnership firm.

Unrecorded liabilities will be ______ in Revaluation Account. Unrecorded liabilities will be ______ in Revaluation Account.

What is the full form of ERP ? What is the full form of ERP ?

At the time of death of a partner account is prepared. At the time of death of a partner account is prepared.

A ledger may get declaration space for its Alias through A ledger may get declaration space for its Alias through

Profit will be divided in ________ in the absence of partnership deed. Profit will be divided in ________ in the absence of partnership deed.

Profit or loss represented by Revaluation Account will be transferred to capital accounts of ______ partners. Profit or loss represented by Revaluation Account will be transferred to capital accounts of ______ partners.

Unrecorded Assets will be _______ in Revaluation Account. Unrecorded Assets will be _______ in Revaluation Account.

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:

In a partnership, liability of all partners is _________ In a partnership, liability of all partners is _________

In the absence of any provision interest on capital will be calculated for _________ In the absence of any provision interest on capital will be calculated for _________

Minimum number of partners in a partnership are ________ Minimum number of partners in a partnership are ________

No cash transaction will be excluded from: No cash transaction will be excluded from:

A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be: A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:

Cash received by converting an asset into cash is reflected in: Cash received by converting an asset into cash is reflected in:

If partnership deed mention that interest will be given 6% p.a. interest will be given _________ If partnership deed mention that interest will be given 6% p.a. interest will be given _________

Gaining Ratio = ________ New Ratio – Old Ratio

After retirement of a partner, share of remaining partner will After retirement of a partner, share of remaining partner will

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.

Interest on capital will be shown in ________ Interest on capital will be shown in ________

At the time retirement of a partner, ratio is calculated: At the time retirement of a partner, ratio is calculated:

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:

If new partner brings goodwill in cash then Account will be credited. If new partner brings goodwill in cash then Account will be credited.

Liability of a partner in LLP is ________ Liability of a partner in LLP is ________

Branch / Division is a group defined under ब्रांच / शाखा एक ग्रुप है जिसे defined किया गया है

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:

Income and Expenditure A/c is of the nature of: Income and Expenditure A/c is of the nature of:

Gaining Ratio: Gaining Ratio:

Which option is used to view Trial Balance from Gateway of Tally? गेटवे ऑफ़ टैली से ट्रायल बैलेंस देखने के लिए किस विकल्प का उपयोग किया जाता है?

Share of old Partners will ________ if new partner admit in the firm. Share of old Partners will ________ if new partner admit in the firm.

Old Partnership will dissolve if Old Partnership will dissolve if

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

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. .

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.

Maximum number of partners in a normal partnership are ________ Maximum number of partners in a normal partnership are ________

Partnership deed may be _______ Partnership deed may be _______

Partnership will be dissolved if Partnership will be dissolved if

If new partner brings goodwill in cash then ________ Account will be debited. If new partner brings goodwill in cash then ________ Account will be debited.

After the death of an existing partner, shares of remaining partner will After the death of an existing partner, shares of remaining partner will

Subscriptions received in advance during the accounting year is: Subscriptions received in advance during the accounting year is:

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 @ _________

Any change in the relationship of existing partners which results at an end of the existing agreement and enforces making of a new agreement is called Any change in the relationship of existing partners which results at an end of the existing agreement and enforces making of a new agreement is called

At the time of admission of a partner, new ratio will be calculated by: At the time of admission of a partner, new ratio will be calculated by:

At the time of retirement of an existing partner, goodwill already shown in the books is written off in ratio. At the time of retirement of an existing partner, goodwill already shown in the books is written off in ratio.

In the absence of partnership deed how much interest will be given on capital? In the absence of partnership deed how much interest will be given on capital?

In the absence of partnership deed partners are entitled to receive __________ In the absence of partnership deed partners are entitled to receive __________

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:

Salary to partners will be shown in _________ Salary to partners will be shown in _________