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Understanding Groups in TallyPrime

The document outlines various groups in TallyPrime, emphasizing their purposes such as categorizing ledger accounts and recording capital investments. It highlights the default primary group, the classification of cash in hand, and the distinction between primary and sub-groups. Additionally, it explains the benefits of grouping accounts for better reporting and management.

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47 views2 pages

Understanding Groups in TallyPrime

The document outlines various groups in TallyPrime, emphasizing their purposes such as categorizing ledger accounts and recording capital investments. It highlights the default primary group, the classification of cash in hand, and the distinction between primary and sub-groups. Additionally, it explains the benefits of grouping accounts for better reporting and management.

Uploaded by

freemind.aryan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd

What is the purpose of groups in TallyPrime?

A. To classify inventory items


B. To categorize ledger accounts
C. To generate payroll reports
D. To configure statutory settings
Answer: B

Which group in TallyPrime is used to record capital investment by owners?


A. Current Liabilities
B. Reserves & Surplus
C. Capital Account
D. Indirect Income
Answer: C

Under which group does "Bank Account" fall in TallyPrime?


A. Loans (Liability)
B. Current Assets
C. Sundry Creditors
D. Bank OD Account
Answer: B

What is the default primary group in TallyPrime?


A. Loans (Liability)
B. Reserves & Surplus
C. Capital Account
D. All of the above
Answer: D

Which group should be used for recording expenses such as salaries and rent?
A. Direct Expenses
B. Indirect Expenses
C. Current Liabilities
D. Fixed Assets
Answer: B

In TallyPrime, which group is assigned to cash in hand?


A. Bank Accounts
B. Current Liabilities
C. Cash-in-Hand
D. Direct Expenses
Answer: C

What is the primary difference between primary and sub-groups in TallyPrime?


A. Sub-groups handle only inventory data.
B. Primary groups are predefined, while sub-groups are user-created under primary
groups.
C. Sub-groups are predefined, while primary groups are created by users.
D. Primary groups are limited to one ledger only.
Answer: B

Which group is used for recording goods purchased for resale in TallyPrime?
A. Sales Account
B. Purchase Account
C. Direct Expenses
D. Indirect Income
Answer: B

What is the main benefit of grouping accounts in TallyPrime?


A. Simplifies the inventory management process
B. Facilitates detailed categorization of ledger accounts for reporting
C. Helps in enabling statutory features
D. Ensures proper payroll management
Answer: B

Which group does "Sundry Debtors" belong to in TallyPrime?


A. Current Assets
B. Loans (Liability)
C. Reserves & Surplus
D. Indirect Income
Answer: A

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