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
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 maintain monthly budget through the option Budget under Master
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
FACT stores data files under FACT directory
True
False
It is possible to maintain Memo type voucher
True
False
New rights can be applied to
User
Group
Both of the above
None of the above
We can maintain multiple currency in FACT
True
False
Audit Trail facility is available in FACT
True
False
When FACT is installed, the group created is
Manager
Default
Other
None of the above
In Fact the accounting period can be specified for a maximum period of
1 year
15 Months
2 Years
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
It is possible to specify invoice-wise details of the opening balence of debtors in Fact
True
False
Fact has been developed by
Vedika Solutions Pvt. Ltd.
Vedika Software Pvt. Ltd.
Vedika Soff'ware Pvt. Ltd.
Vedika
AR/AP stands for
Alternative Receipt/Payment
Automatic Receipt/Payment
Accounts Receivable/Payable
None of the above
We can change document numbering from
Accounts -----> Preference
System ------> Preference
Accounts ------> System ------> Preference
None of the above
We can assign password to the user 'Manager' from
Account--> Prefarence--> Password.
Account--> Prefarence--> Change Password.
Account--> System Control--> Password.
None of the above
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
The Adit Trail features in Fact, stores
Modified Vouvher
Deleted Voucher
Modified and Deleted Voucher alongwith User Name
None of the above
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
When Fact is installed for the first time we have to enter a blank company to creat a new company
True
False
In Fact the user can specify the hard disk wher the company data will be stored .
True
False
We can assign opening balence to nominal account in Fact
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 Support 4 Inventory valuation method
True
False
CHECK Cost centre is used for maintaining branch accounting
True
False
FACT does not support transfer of stock
True
False
In Fact the default user name is
Admin
User
Manager
Owner
FACT supports ____ number of users
100
254
256
None of the above
To create an item we can maintain measurement unit of
Sales and Purchase
sale, Purchase and Stock
Sales and Stock
None of the above
The default user that is created immdiately after creation of company in Fact is 'Admin'
True
False