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Fact MCQ Question with Answer

Fact MCQ with detailed explanation for interview, entrance and competitive exams. Explanation are given for understanding.

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Question No : 36
The GL Account which must be created in Fact are known as

Control Account
GL Account
System Control Account
None of the above

Question No : 37
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

Question No : 38
We can assign password to the user 'Manager' from

Account--> Prefarence--> Password.
Account--> Prefarence--> Change Password.
Account--> System Control--> Password.
None of the above

Question No : 39
We can assign opening balence to nominal account in Fact

True
False

Question No : 40
It is possible to specify invoice-wise details of the opening balence of debtors in Fact

True
False

Question No : 41
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

Question No : 42
The 'Bill Terms' option in Fact is used to record

Details of Purchase Bill
Term of Sels Contract
Credit Period of Debtors
Discount Allowed

Wanna test your skill? Here are some exams we prepared for you. So if you need to test your skill just attempt any exam from bellow.

Exam Name No. Of Q Link
Accounting set 1 30 Start
Accounting set 2 30 Start
Accounting set 3 30 Start
Accounting set 4 30 Start
Accounting set 5 30 Start
Accounting set 6 30 Start
Accounting set 7 30 Start
Accounting set 8 30 Start
Accounting set 9 30 Start
Accounting set 10 30 Start
Accounting set 11 30 Start
Accounting set 12 30 Start