When Fact is installed for the first time we have to enter a blank company to creat a new company
True
False
Correct Answer :
B. False
Related Questions
To create a group while creating P/L Layout we have to press
Ctrl+A
Alt+A
Shift+Ctrl+A
Alt+Shift+A
We can insert a new page while designing P/L Layout by using
Next Page
New Page
New Title
Page Title
In Fact the default user name is
Admin
User
Manager
Owner
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 Net Profit transferred to Balence Sheet in Fact using
Defined Total
Net Total
Opening P/L Balence
None of the above
FACT stores data files under FACT directory
True
False
The special account created to need cash withdrawal entris from bank is known as
Bank Contra Account
Contra Account
Cash Contra Account
Withdrawal Contra Account
CHECK Cost centre is used for maintaining branch accounting
True
False
Audit Trail facility is available in FACT
True
False
The default Filter in Fact is
/*
******
000000
123
Fact Support 4 Inventory valuation method
True
False
We can maintain multiple currency in FACT
True
False
When Fact is installed for the first time we have to enter a blank company to creat a new company
True
False
The default user that is created immdiately after creation of company in Fact is 'Admin'
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
FACT does not support transfer of stock
True
False
We can maintain monthly budget through the option Budget under Master
True
False
In Fact the user can specify the hard disk wher the company data will be stored .
True
False
The 'Bill Terms' option in Fact is used to record
Details of Purchase Bill
Term of Sels Contract
Credit Period of Debtors
Discount Allowed
When FACT is installed, the group created is
Manager
Default
Other
None of the above
It is possible to maintain Memo type voucher
True
False
We can change document numbering from
Accounts -----> Preference
System ------> Preference
Accounts ------> System ------> Preference
None of the above
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
If the Initial name of a company is "PQR", the company data will be stored in
FA-PQR
FA_PQR
FAPQR
PQR_FA
It is optional to enter cost centre in inventory issue
True
False
It is not possibe to create online ledger in Fact
True
False
An account with an opening balence can be deleted in Fact
True
False
It is possible to specify invoice-wise details of the opening balence of debtors in Fact
True
False
AR/AP stands for
Alternative Receipt/Payment
Automatic Receipt/Payment
Accounts Receivable/Payable
None of the above
FACT supports multiple godown facility
True
False