Home Busy Accounting Software Unit 5 – Masters 113

Unit 5 – Masters 113

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Unit 5 – Masters

113

7 . Maximum character length for Master Name is:

a) 40 Characters

c) 50 Characters

b) 25 Characters

d) 35 Characters

8 . Which of these taxes can be defined in Item Master:

a) Local Sales Tax

c) Surcharge

b) Central Sales Tax

d) All of the above

9 . While creating Item Master, mandatory fields are:

a) Name

c) Unit

b) Group

d) All of the above

1 0

. Critical levels can be defined for:

a) Minimum Level

c) Reorder Level

b) Maximum Level

d) All of the above

1 1

. Conversion Factor cannot be:

a) Zero

c) In Decimals

b) Negative

d) Both a & b

1 2

. Bill Sundry can be:

a) Only Additive in nature

c) Either Additive or Subtractive

b) Only Subtractive in Nature

d) None of the Above

1 3

. Bill Sundry cannot be configured on:

a) Item Basic Amount

c) Previous Item Basic Amount

b) Item MRP

d) Previous Bill Sundry Amount

1 4

. A Bill Sundry cannot be deleted if it is :

a) Used in a Voucher

c) Subtractive in Nature

b) Created for Taxation purpose

d) None of the above

1 5

. Material Centre and Material Centre Group Master can be created with:

a) Same Name

c) Same Parent Group

b) Same Alias

d) All of the Above

1 6 . ST Form can be created for:

a) Local Sale / Purchase

b) Central Sale / Purchase

c) Either Local or Central Sale / Purchase

d) Neither Local nor Central Sale / Purchase

1 7 . Purchase Type master cannot be created for Taxation Type:

a) Taxable c) Export

b) Lump-Sum Dealer d) Tax Free

114

1 8

. We can freeze tax in Sale Type for:

a) Sales Voucher

c) Journal Voucher

b) Sales Return Voucher

d) Both a & b

1 9

. Optional Fields can be defined for:

a) Account master

c) Material Centre master

b) Item master

d) All of the above

2 0

. Maximum Optional Fields defined with a Master are:

a) Ten

c) Hundred

b) One

d) Three

2 1

. What are Predefined Accounts?

2 2

. What are Bill Sundries?

2 3

. What is the difference between Multi – Tax and Tax Inclusive Item Price option provided in Sale

/ Purchase Type master?

2 4

. What is the difference between Multi – Tax and Multi Tax Rate option under Sale / Purchase

Type master?

2 5

. Open Company Star Electronics (created in Unit 3) and create following masters:

Account masters

Account Name

Parent Group

Debit Bal.

Credit Bal.

Amit

Capital Account

5,00,000.00

Ankit

Capital Account

5,00,000.00

Car-DL4C AA 1308

Fixed Assets

1,66,000.00

Cash

Cash-in-hand

2,72,000.00

Galaxy International

Sundry Debtors

2,35,000.00

HDFC-015401507152

Bank Accounts

3,12,000.00

Jindal Appliances

Sundry Debtors

1,37,000.00

LG Electronics

Sundry Creditors

1,00,000.00

Lotus Industries

Sundry Debtors

2,60,000.00

Nokia

Sundry Creditors

1,20,000.00

Philips India

Sundry Creditors

75,000.00

Rajesh

Capital Account

10,00,000.00

Sony India Pvt. Ltd

Sundry Creditors

80,000.00

State Bank Of India

Bank Accounts

2,85,000.00

Stock

Stock-in-hand

5,63,000.00

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