QUIZ ON : tally - ACCOUNTING MASTERS IN TALLY ERP9

At the time of retirement of a partner, goodwill will be credited in partner’s capital Account. At the time of retirement of a partner, goodwill will be credited in partner’s capital Account.

________ profit is excess of actual profits over normal profits. ________ profit is excess of actual profits over normal profits.

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 _________

Partnership will be dissolved if Partnership will be dissolved if

A decrease in the value of a liability will be recorded on the ________ side of revaluation account. A decrease in the value of a liability will be recorded on the ________ side of revaluation account.

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 ________

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

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:

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.

Balance of capital (fix) accounts may be _________ Balance of capital (fix) accounts may be _________

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 _________

When question is silent about the date of withdrawal of drawing then Interest will becalculated for ________ When question is silent about the date of withdrawal of drawing then Interest will becalculated for ________

Old Partnership will dissolve if Old Partnership will dissolve if

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

To create Purchase Order press To create Purchase Order press

Receipts and Payments A/c is the summary of a: Receipts and Payments A/c is the summary of a:

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:

Goodwill is an _______ Assets. Goodwill is an _______ Assets.

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

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

When the new partner brings cash for goodwill, the amount is credited to: When the new partner brings cash for goodwill, the amount is credited to:

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:

Value of reputation of the firm is: Value of reputation of the firm is:

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

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

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

Partners Current Account have _________ Partners Current Account have _________

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. .

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.

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

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

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

Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc. अनाज, दाल, चीनी, तेल, घी आदि स्टॉक वस्तुओं के लिए कौन सी इकाई बनाई जाती है?

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

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

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?

An increase in the value of a liability will be recorded on the ________ side of revaluation account. An increase in the value of a liability will be recorded on the ________ side of revaluation account.

Partnership deed may be _______ Partnership deed may be _______

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?

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:

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

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

Maximum number of partners in a partnership firm can be ________ Maximum number of partners in a partnership firm can be ________

Amount of old goodwill already appearing in the books will be written off: Amount of old goodwill already appearing in the books will be written off:

Which of the following equation is true for balance sheet बैलेंस शीट के लिए निम्नलिखित में से कौन सा समीकरण सही है

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 @ _________

When there is no partnership deed then provisions of partnership act ________ willbe applicable. When there is no partnership deed then provisions of partnership act ________ willbe applicable.

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

In the Income and Expenditure Account all revenue receipts are entered on: In the Income and Expenditure Account all revenue receipts are entered on: