AR/AP stands for
Alternative Receipt/Payment
Automatic Receipt/Payment
Accounts Receivable/Payable
None of the above
Correct Answer :
C. Accounts Receivable/Payable
Related Questions
In Sales transaction, we can maintain
Order, Challan and Bil
Order, Challan, Service Bill and Bill
Order, Challan, Bill, Service Bill and Return
None of the above
The 'Bill Terms' option in Fact is used to record
Details of Purchase Bill
Term of Sels Contract
Credit Period of Debtors
Discount Allowed
Fact Support 4 Inventory valuation method
True
False
The GL Account which must be created in Fact are known as
Control Account
GL Account
System Control Account
None of the above
In Document Class the sum of the numbers in the three sagement may be less than 6
True
False
In Fact while creating a company we can specify an accounting model at
Company Templet
Install Sample Data
Install Sample Company
None of the above
It is possible to specify invoice-wise details of the opening balence of debtors in Fact
True
False
FACT supports multiple godown facility
True
False
When FACT is installed, the group created is
Manager
Default
Other
None of the above
We can change document numbering from
Accounts -----> Preference
System ------> Preference
Accounts ------> System ------> Preference
None of the above
FACT supports ____ number of users
100
254
256
None of the above
The default Filter in Fact is
/*
******
000000
123
We can assign password to the user 'Manager' from
Account--> Prefarence--> Password.
Account--> Prefarence--> Change Password.
Account--> System Control--> Password.
None of the above
FACT stores data files under FACT directory
True
False
The Net Profit transferred to Balence Sheet in Fact using
Defined Total
Net Total
Opening P/L Balence
None of the above
We can assign opening balence to nominal account in Fact
True
False
In Fact if we set 'No Code Mode' to 'Yes', we will be able to specify code for the master that you creat
True
False
It is not possibe to create online ledger in Fact
True
False
Fact has been developed by
Vedika Solutions Pvt. Ltd.
Vedika Software Pvt. Ltd.
Vedika Soff'ware Pvt. Ltd.
Vedika
In Fact the default user name is
Admin
User
Manager
Owner
CHECK Cost centre is used for maintaining branch accounting
True
False
While entring opening balence of account, Fact autometically recognise if it is Dr. Balence or Cr. Balence depanding on the type of the account
True
False
We can insert a new page while designing P/L Layout by using
Next Page
New Page
New Title
Page Title
When Fact is installed for the first time we have to enter a blank company to creat a new company
True
False
To pass a credit note we select
Sale Bill
Sales challan
Journal
None of the above
We can maintain monthly budget through the option Budget under Master
True
False
The User can define layout of cash flow in
Tally
Fact
Ex-NGN
Accord
We can assign rights to the user
True
False
Customised voucher numbering can be done through _______.
Document Class
Year Ending
Lock
Document Numbering
We can Copy Master from one company to another company with ____________________ option.
Impot and Export.
Copy code from another account.
Both of the above
None of the above