Home
Current Affairs January 2024

What is the correct answer?

4

The GL Account which must be created in Fact are known as

A. Control Account

B. GL Account

C. System Control Account

D. None of the above

Correct Answer :

A. Control Account


Related Questions

What is the correct answer?

4

We can Copy Master from one company to another company with ____________________ option.

A. Impot and Export.

B. Copy code from another account.

C. Both of the above

D. None of the above

What is the correct answer?

4

When FACT is installed, the group created is

A. Manager

B. Default

C. Other

D. None of the above

What is the correct answer?

4

We can assign password to the user 'Manager' from

A. Account--> Prefarence--> Password.

B. Account--> Prefarence--> Change Password.

C. Account--> System Control--> Password.

D. None of the above

What is the correct answer?

4

To pass a credit note we select

A. Sale Bill

B. Sales challan

C. Journal

D. None of the above

What is the correct answer?

4

We can assign rights to the user

A. True

B. False

What is the correct answer?

4

In Fact if we set 'No Code Mode' to 'Yes', we will be able to specify code for the master that you creat

A. True

B. False

What is the correct answer?

4

While entring opening balence of account, Fact autometically recognise if it is Dr. Balence or Cr. Balence depanding on the type of the account

A. True

B. False

What is the correct answer?

4

The default user that is created immdiately after creation of company in Fact is 'Admin'

A. True

B. False

What is the correct answer?

4

The special account created to need cash withdrawal entris from bank is known as

A. Bank Contra Account

B. Contra Account

C. Cash Contra Account

D. Withdrawal Contra Account

What is the correct answer?

4

FACT supports multiple godown facility

A. True

B. False

What is the correct answer?

4

The 'Bill Terms' option in Fact is used to record

A. Details of Purchase Bill

B. Term of Sels Contract

C. Credit Period of Debtors

D. Discount Allowed

What is the correct answer?

4

We can maintain multiple currency in FACT

A. True

B. False

What is the correct answer?

4

The Net Profit transferred to Balence Sheet in Fact using

A. Defined Total

B. Net Total

C. Opening P/L Balence

D. None of the above

What is the correct answer?

4

Audit Trail facility is available in FACT

A. True

B. False

What is the correct answer?

4

The GL Account which must be created in Fact are known as

A. Control Account

B. GL Account

C. System Control Account

D. None of the above

What is the correct answer?

4

The Adit Trail features in Fact, stores

A. Modified Vouvher

B. Deleted Voucher

C. Modified and Deleted Voucher alongwith User Name

D. None of the above

What is the correct answer?

4

In Document Class the sum of the numbers in the three sagement may be less than 6

A. True

B. False

What is the correct answer?

4

In Sales transaction, we can maintain

A. Order, Challan and Bil

B. Order, Challan, Service Bill and Bill

C. Order, Challan, Bill, Service Bill and Return

D. None of the above

What is the correct answer?

4

FACT stores data files under FACT directory

A. True

B. False

What is the correct answer?

4

New rights can be applied to

A. User

B. Group

C. Both of the above

D. None of the above

What is the correct answer?

4

Template provides a pre-defined voucher

A. True

B. False

What is the correct answer?

4

Customised voucher numbering can be done through _______.

A. Document Class

B. Year Ending

C. Lock

D. Document Numbering

What is the correct answer?

4

When Fact is installed for the first time we have to enter a blank company to creat a new company

A. True

B. False

What is the correct answer?

4

CHECK Cost centre is used for maintaining branch accounting

A. True

B. False

What is the correct answer?

4

In Fact we have to specify the group of the ledger at the time of its creation

A. True

B. False

What is the correct answer?

4

We can change document numbering from

A. Accounts -----> Preference

B. System ------> Preference

C. Accounts ------> System ------> Preference

D. None of the above

What is the correct answer?

4

It is possible to specify invoice-wise details of the opening balence of debtors in Fact

A. True

B. False

What is the correct answer?

4

To create an item we can maintain measurement unit of

A. Sales and Purchase

B. sale, Purchase and Stock

C. Sales and Stock

D. None of the above

What is the correct answer?

4

AR/AP stands for

A. Alternative Receipt/Payment

B. Automatic Receipt/Payment

C. Accounts Receivable/Payable

D. None of the above

What is the correct answer?

4

FACT does not support transfer of stock

A. True

B. False