Let us come to dicuss tally

Qno1.What is accounting year?


Ans:- Any date in a year


Qno2.What is financial year?


Ans:-April 1 to 31st march


Qno3.What is cash Payment ?


Ans:- Credit -which goes out


Qno4.What is Cash receipt ?


Ans:-Debit-which comes in


Qno5.What is bank payment ?


Ans:-Which goes out


Qno6.What is bank receipt ?


Ans:-What comes in


Qno7.What is P&L debit ?


Ans:-Here debit all exp


Qno8.What is P&l credit


Ans:-Here credit means income


Qno9.Depreciation is what type of transaction ?


Ans:- Non cash transaction

Qno10.Can debtor's purchase a cash transaction ?


Ans:- NO

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