• Instructions
  • 1. This activity must be done individually.
    2. Read each question carefully.
    3. Each question carries 2 marks only.
    4. There is NO NEGATIVE MARKING.
    5. Click on “Submit” button to finally submit an answer and click on “Next” button to proceed to the next question in the series.
    6. Total of 3 minutes have been allocated for the entire assessment.
    7. Once the timer expires, the entire assessment will get submitted automatically, whether completed or not, and the results will be displayed on the screen.

Q1. Identify if the below statements are True or False:
A. The company’s inventory can be linked to its books of accounts by doing the following:

Go to Gateway of Tally > F11: Features > F2: Inventory, and Set the option Integrate Accounts and Inventory to Yes in F11: Features : F1: Accounting Features / Inventory Features

B. The Debit Note and the Credit Note vouchers are used to record Purchase Return and Sales Return transactions, respectively.