S.No. Raman starts a business with a capital of Rs.

1,00,000Question
is an example of:
1 Which of the following will not be recorded in the books of accounts
2 Which of the following will have debit impact
3
Which of the following is a business transaction
4 According to Going Concern Concept, a business is viewed as having
5 A person to whom money is owed by a firm for purchase of goods is called as
6
According to which accounting concept, even the proprietor of a business is treated as creditor to the extent of his
capital:
7 A withdrawal of cash from business by the proprietor is credited to
8

The liabilities of a firm are Rs. 1,60,000 and the capital of the proprietor is Rs. 20,000. The total assets are
9
A liability arises because of
10 Which of the following are fixed assets
11 Out of the following assets, which one is not a tangible asset
12

During the life-time of an entity, accounting produces financial statements in accordance with which of the
following accounting concept
13 If a firm borrows a sum of money, there will be
14
Which of the following are goods
15
Why we need to maintain accounting?
16 What type of balance do asset accounts have?
17 The Expenses of an organisation are recorded in which account?
18 What are Liabilities?
19 What causes the decrease in Assets?
20 How many accounts are affected in a business transaction?
21 Cash Account is credited when?
22 Out of the following, which is the database of BUSY
23 Which BUSY Model offers complete GST Solution
24 What is the formula for calculation of Busy Multi user price
25
In BUSY 21 Basic model, which feature is not available
26 Out of the following, which one is the model of BUSY
27 On which database does Count License work?
28
Automated GST features are available by which facility?
29 Who can use BUSY ?
30 Parameter feature of BUSY is used in which industry?
31 In BUSY, how can we manage check and controls
32
 POS feature of BUSY is used in which of the following segment?
33 BUSY is suitable for which segment:
34 BUSY is best suitable for
35 Production feature is used for ?
36 Lawyer profession is a part of ?
37 Default data directory path in BUSY is:
38 What is the Hierarchical level of Super User in BUSY
39 In BUSY, GST Summary & GSTR-3B are
40 Without an Active BLS, a user can
41 You cannot create two companies with same
42 Books commencing date can start from
43 Default Shortcut key F3 is used to
44 Default Shortcut key F10 is used to
45 While Creating company Financial Year Beginning Date can be
46 Name and Print Name of the Company:
47 Backup of BUSY Data on Google Drive can be done through
48 Transactions menu is active only when
49 Warning Alarms can't be set for
50 In BUSY, Sale / Purchase, Payment / Receipts are
51 Which of the following is not the feature of BUSY Agent
52 BUSY cannot be installed on which OS
53 Number of Super User in a company can be
54 TIN is specified in BUSY, if Tax Type is selected as
55 BUSY Agent utility is used for
56 In BUSY, Accounts & Items are
57
One cannot exit BUSY, if
58 Default Shortcut key F2 is used to
59 In BUSY, Help can be invoked using
60 By default BUSY is installed in ?
61 How many default tax rates can be specified during company creation:
62 Financial year date and book commencing date can be ?
63 During softlock registration, what are the mandatory fields ?
64 Warning alarm is not available for ?
65 What is the default currency font while creating a company:
66

How many options are available for binding a softlock during the softlock registration process?

67 How many characters, can be specified in company short name:

68 How many users can be created in BUSY:
69
In Single Entry System of entering Payment voucher, you need to specify
70 Purchase Return voucher will result in:
71
 Arshia Enterprises sends stock of item LG AC 1.5 ton from its Karol Bagh Godown to R.P. Bagh Godown.
Which voucher will be entered to record the same
72 To record entry of Depriciation charged on fixed assets, you can enter
73
Which of the following is not a Contra Entry
74

If you are entering Purchase Voucher for Capital Goods then, ITC Eligibility should be selected as
75 Which voucher is used to record stock adjustment
76 GST Payment voucher can be entered using
77

If you are entering Purchase Voucher for Goods on which Input is not to be claimed then, ITC Eligibility should
be selected as
78 Number of Material Centres specified in Stock Transfer Vouchers are
79 In Stock Journal voucher, you can enter details of
80
Which voucher is used to record movement of goods from one Material Centre to another
81 Sales Return voucher will result in
82 What type of voucher should be used in BUSY to increase the stock?
83 When adjusting a sale return item in a sales voucher, which sign should be used?
84

A company withdraws cash from the bank account to meet its daily expenses. Which voucher should be used to
record this entry?
85 What type of voucher should be used to add a B2B expense entry?
86

A trader “ABC” purchases goods from “XYZ”. After receiving the material, ABC founds that the goods contain
some defective goods of value of Rs. 10,000, which voucher "ABC" will add ?
87 How many default rows for items are there in the inventory voucher?
88
How many renumbering frequency can be specified under automatic voucher numbering?
89 What is automatic default shortcut key to apply tax in voucher ?
90 What is the default voucher numbering set for stock journal voucher?
91 What is the default shortcut key to add a new item while adding a voucher?
92 Stock Account can be tagged with
93 Account Settlement Details can be defined for
94 During data entry, you can specify Settlement Modes / Accounts up to
95 Under which method, quantity of item purchased first is assumed to be sold first
96
In BUSY EM, by default files are exported to
97 Post dated cheques can be entered for
98 TDS stands for
99 Default date format in BUSY is
100 Default currency string in BUSY is
101 Format provided for displaying numbers in BUSY
102
 Files from BUSY can be exported in
103

Suppose you want to search a master named 'Ram Kumar', and you search by entering 'Kumar' only. Then you
need to select Intelligent Search in Master Dropdown as
104 To enter Purchase Return quantity in Purchase voucher, you can use
105 Which Stock Valuation method is not provided in BUSY
106 On selecting "End of List" option, focus will automatically shift to
107 Separate Stock Updation date can be maintained for
108 Stock Valuation method affects
109
Which option is used to update Sale price in Item master as per last transaction?
110 Master Configuration can be done for
111

While configuring Bill Sundry for TDS (on Purc. Of Goods), Round off Amount should always set to
112 Free Quantity in the voucher can be specified with a
113 Features/Options are provided under
114 In BUSY, Depreciation can be maintained as per
115 After entering PDC voucher, you can regularize them by using
116 TCS stands for
117 Which option is used to change the date format in BUSY?
118 Where will the background image of the company be displayed?
119 How many bill-by-bill grouping references will be there ?
120 What is the default shortcut key to reconcile ledger ?
121 According to which act, half yearly and annual rate of depreciation can be defined?
122 In single entry mode, how many payment modes need to be specified ?
123 From which menu, we can add the format for cheque printing?
124 What types of bank instrument details are listed as options in BUSY?
125
What is the maximum number of decimal places allowed for entering quantity in BUSY?
126 Tag Sale/Purchase account with can be used for:
127
GSTIN stands for :
128 From which menu we can validate HSN online ?
129 GSTR 1 (JSON) option is available in which model of BUSY?
130 Section 194Q belongs to :
131 To send notification on BUSY BNS App, which feature needs to be enable in BUSY
132 With which utility you can freeze the data for a particular date?
133
134 After Data Freezing, you cannot:
135 List of Masters cannot be exported to
136 Under BNS App, BNS stands for
137 Data Freezing option is provided under
138 The shortcut key to switch the financial year is:
139 If we want to freeze the opening balance of Masters, what do we have to do?
140
 With which utility we can upload data in one go?
141 What is the default shortcut key to export any report?
142
Without opening voucher, through which utility we can update transport details in BUSY?
143 In which case we can change the financial year ?
144 Which master can't be imported from Excel to BUSY?
145 In BUSY Basic model, which option is available to import voucher ?
146 Pending Alerts Email/SMS option is available under which menu:
147

Out of the following, which seperator is used to specify multiple mobile numbers for sending BNS notifications:
148 In BUSY, Account Masters can also be created through:
149 With Batch-wise Details features, you can maintain
150
Check Party Return Filing Status utility displays the status of which return filing:
151 GSTR 2A and 2B Reconciliation are associated with
152 Complete user history can be seen from
153 Once a voucher is audited then it can be changed by
154
With which utility you can generate E-Way Bill & E-Invoice
155 Sale / Purchase Challan can be entered using
156 In BUSY, from which menu you can view Hard Disk Serial No.
157 Report which displays Batch with near expiry date is
158 Pre - Sale / Purchase features provided in BUSY are:
159 Direct Upload for which return is available in BUSY
160 You can Bind BUSY data with
161 To pick Item information from pending Sales Order in Sale challan, you can use
162 For which voucher does the item level commission apply?
163 Which feature cannot be enabled in the item master with MRP-wise details?
164 Which type of dealer option is not available in BUSY?
165 Which option allows to retrieve all the details and create a new account master?
166 Once voucher is approved, who can modify it ?
167 When running BUSY at different locations with SQL, which IP is needed?
168 How many conditions can be defined in Alert:
169
 Option A Option B Option C
Going Concern Concept Dual Aspect Concept Accounting Period Concept
Sales of Goods Payment Of Salary Quality of Staff
Decrease in Asset Increase in Liability Increase in Asset

Goods Purchase on Credit An Employee dismissed Proprietor Purchased a car for own use
A limited life A Very long life An Infinite life
Creditor Debtor Both a & b

Money Measurement Concept Dual Aspect Concept Cost Concept

Drawings A/c Cash A/c Capital A/c

160000 140000 20000

Cash Transactions Credit Transactions Cash as well as Credit Transactions

Balance with Bank Cash in Hand Sundry Debtors
Furniture Patents Office Equipment

Cost Concept Financial Accounting Concept Dual Concept

Increase in Capital Decrease in Capital No Impact on Capital

Machine Manufactured for Resale Furniture purchased for reception use Books and Stationary purchased for staff
To maintain systematic records of
To maintain quality of work To track expired stock transaction
Contra Debit Credit
Nominal Account Current Account Personal Account
Resources of a Company Expenses of a Company Revenue of a Company
Cash Purchases Liabilities Payment of Expenses
One Two Three
Debts paid off Building bought in cash Asset sold for cash
Basic Dual User Access CSV
Basic Neo Standard
Single User Price * 2.5 Single User Price * 1.5 (Single User Price*2.5)/100

Automatic Backup on Google Drive BUSY BNS BDEP

Advisory Standard Intermediate
SQL Access Basic

BNS BLS BKP

Accountant Businessman Employee
Shoes FMCG Mobile
Company wise User wise Busy system wise
Manufacturing Retail Distribution
Manufacturing Trading & Distribution Retail Segment
PSUs Forex Trade Large Companies
Trading Service Manufacturing
Retail Manufacturing Service
Any Path Where BUSY Is Installed C Drive
Second Highest Top Most Lowest
Masters Reports Transactions
Directly upload GST Return Export Data to Excel Automatically generate E-Way bill from
Address Name Print Name
1st January 1st of any month Any date - Any Month
Search String Create New Master Save Master/Vouchers
Add Master View GST Summary Invoke Calculator
1st of Calendar Year Any Date - Any Month 1st of Financial Year
can be same also can never be same should always be same
BUSY Mobile App BUSY Agent Masters Menu
Masters are created Transactions are entered Company is Opened
Negative Stock Negative Cash Minimum Sales Price
Masters Transactions Reports
Backup of data on Local Server Upgrade BUSY Version Automatic Data Backup
Windows 10 Linux Windows 98
Only Two Infinite Only One
VAT GST Any of VAT or GST
Automatic Data Backup Renew BLS Upgrade BUSY Version
Masters Reports Transactions

Some Masters have been entered Company is still open Some transactions have been entered
Search String Create New Master Save Master/Vouchers
F1 Key F2 Key F11 Key
C Drive Have to choose Desktop
One Two Four
Should always be same Should never be same Can be same
GSTIN Phone PinCode
Minimum level Composition Dealer Invalid tax rate in vouchers
Rupee Foradian Rupee Calibiri Rupee Arial

3 2 4
9 20 40
10 Infinite 20

Cash and Bank Accounts Payment Mode and Affected Accounts Accounts Debited and Credited
Decrease in Stock No Impact on Stock Increase in Stock
Contra Journal Stock Transfer
Payment Voucher Journal Voucher Sales Voucher
A Debtor directly deposited cash in your
Cash deposited in Bank bank account Bank to Bank Transfer

Input Goods Input Services Capital Goods/Services

Contra Journal Stock Transfer
Contra Voucher Journal Voucher Receipt Voucher

Input Goods Input Services Capital Goods

Two Four Three
Items Purchased Items generated Stock Transferred

Contra Journal Stock Transfer

Decrease in Stock No Impact on stock Increase in Stock
Stock Transfer Sale Return Stock Journal
(-) sign (+) sign (;) sign

Payment Receipt Contra

Payment Contra Journal

Credit Note Debit Note Payment

999 99 128

2 4 1
F4 key F6 key F3 key
Not required Automatic Manual
F4 key F6 key F3 key
Material Centre Master Sale Type Bill Sundry Master
Payment Voucher Sales Voucher Journal Voucher
Five Two Three
LIFO FIFO Weighted Average
Folder where BUSY Application is
Installed Folder where BUSY Data is kept C Drive
Payment Voucher Journal Voucher Dr Note [w/o Item] Voucher
Tax Deducted by Seller Tax Deducted by Self Tax Deducted at Source
dd/mm/yy dd/mm/yyyy mm/dd/yy
Rupaiya Rs. INR
999,999,999.99 9,99,999,9999 9,99,999,99
.docx format .jpeg format .xls format

Moderate High Low

(+) Sign (-) Sign (/) Sign
Last in First Out First in First Out First in Last Out
Last Row Previous Grid Next Grid
Accounting Voucher Inventory Voucher Dual Voucher
Opening Stock Sale Closing Stock
Show Party's Last Price in Sale/Purchase
Voucher Update Item Prices from Voucher Tag Sale/Purchase Account with
Account Salesman/Broker Item Group

Automatic Upper Limit Lower Limit

(+) Symbol (*) Symbol (#) Symbol
Master Menu Favorites Menu Administration Menu
Company's Act GST Act HUF Act
Using F4 Key In Payment Voucher Regularize PDC utility Using F12 Key In Payment Voucher
Tax Clubbed at Source Tax Collected at Source Tax Charged at Source
Display setting Regional setting General
BUSY homescreen BUSY right side bottom BUSY left side bottom
2 4 3
F6 key F4 key F3 key
Income Tax Act Companies Act Both a & b
4 3 2
Misc data entry Voucher series configuration Configuration
RTGS NEFT UPI

2 9 10
Item Tax category Account Group
Goods and Services Tax Identitical Goods and Services Tax Identification Goods and Services Tax Indirect
Number Number Number
GST returns GST reports GST audit report
Basic Enterprise Standard
TCS TDS Both a & b
BUSY Mobile App BDEP Event Notification
Mapping of Masters Merge Masters Data Freezing
2008-09 2012-13 2011-12
View Report Modify Vouchers Add Masters
MS Excel PDF Text File
Business Notification Service BUSY Notification Service BUSY Notify Service
Utilities Menu Housekeeping Menu Company Menu
F9 F11 F12
Partial freezing Full freezing Both a & b
Misc. data entry Bulk Updation Configuration
Alt + E Ctrl + E Shift + E

Voucher Configuration Bulk updation

BLS expired Demo mode License mode
Item Accounts Employee
Import voucher from XML Import voucher from Excel Import voucher from MS- Word
Bulk updation Configuration Utilities

Semi Colon (;) Colon (:) Comma (,)

UQC Code HSN Code GSTIN
Manufacturing Date Goods Delivery Date Attributes of Item

GSTR-3B GSTR-9 GSTR-ITC-04

Sales Purchase GSTR-9
User Profile Consolidate Summary User Activity log
User who has audited it No one can change it Any User
Generate / Print E Invoice & E- Way
Generate / Print E Way Bill Generate / Print E-Invoice Bill
Sales / Purchase Voucher Payment / Receipt Voucher Stock Journal Voucher
Transaction Display Help
Expiring Batches Batch Ageing Batch Reference Details
Indent Quotation Challan
GSTR-3B GSTR-4 GSTR-1
HardDisk System Drive Windows
F11 Key F12 Key F9 Key
Sale Payment Reciept
Parameter Serial No. Batch No.
UIN Holder Govt. Body Consumer
Email ID GSTIN Mobile No.
Super User Any User User who has rights
Static IP Local IP Network IP
3 2 1
 Option D
Money Measurement Concept
Purchase of Goods
Increase in Capital

Sale of Personal asset by the proprietor

None of the above
None of the above

Business Entity Concept

None of the above

180000

None of the above

Plant and Machinery
Machinery

Accounting Period Concept

Increase in Debtors

Motor bike purchased for business use

To maintain staff data

All of the above
None of the above
Obligations of a Company
Retained Earnings
Several
None of the above
Neo Edition
Basic Multi user
(Single User Price*1.5)/100

Event Notification
Expert
None

BLK
All of the above
Electronics
None of the above
Services
All of the above
SME
Retail
Trading
D Drive
Moderate
Vouchers
Validate GSTIN
Financial Year
1st April
Modify Existing Master
Switch User
1st of any month
should never be same
F11 Shortcut Key
Company details are edited
Unregistered Party
Bill Sundry
Dongle Server
Windows 12
None of the above
None of the above
All of the above
Vouchers

Any Report is viewed

Modify Existing Master
F12 Key
D drive
Three
None of the above
Organization
Negative stock
Rupee Courier

1
10
5

Item and Party

Increase in Debtor
Stock Journal
Receipt Voucher

Cash Withdrawal from Bank

None of the above

Stock Journal
Material Issued to Party

None
One
Items sold

Stock Journal
Increase in Debtor
Purchase Return
(=) sign

Debit Note
Both a & c

Receipt
64

3
F1 key
None of the above
F1 key
Purchase Type
Debit Note (W/O item)
One
Last Purchase

D Drive
Contra Voucher
Tax Detailed Statement
mm/dd/yyyy
Rupees
99,999,99,999
.png format

Either a or b
(*) Sign
Weighted Average
First Row
Receipt Voucher
Purchase

Show Last Item Price

Sale/Purchase Type

Any of a,b,c
(@) Symbol
Display Menu
Partnership Act
Modifying the Payment Voucher
None of the above
Company creation
BUSY Top panel
5
F2 key
None of the above
1
Bulk updations
All of the above

5
Unit

Goods and Services Tax Identify Number

GST Misc. utilities
Both b & c
None of the above
Web based Reporting
Block Account/Item
All of the above
Print Vouchers
MS Word
Balance Sheet Notify Service
Configuration Menu
F4
None of the above
Utilities
Have to click on export

Misc. data entry

All of the above
Tax Category
All of the above
Print/Email/SMS

Full Stop (.)

None of the above
Serial No Of Item

GSTR-2A
GSTR-3B
Audit Trail
Super User

E-Way Bill Details (Generated by Self)

Material Issue / Receipt Voucher
No such option is provided in BUSY
Batch wise Stock
All of the above
GSTR-2
Mother Board
F4 Key
Contra
All of the above
All of the above
Account Name
Sub User
System IP
4