If we purchase any fixed asset in credit, we can pass it from

A. Payment mode

B. Receipt mode

C. Purchase mode

D. Contra mode

Correct Answer is :

C. Purchase mode

Explanation

To account a fixed asset purchase in tally, normally we use journal voucher in earlier versions of tally. But now you can use purchase voucher to enter purchase of fixed assets in latest versions of tally ERP9. To activate fixed asset purchase in purchase voucher, Gateway of Tally > F12 Configure > Voucher Entry Allow expense/fixed assets in purchase vouchers : Yes