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Accountancy · 2023 · 3 marks
CBSE 2023 · Region 2 · Set 1 · Q32
Explain two main groups in which 'Group of Accounts' is classified in Accounting Software 'Tally'.
Explain two main groups in which 'Group of Accounts' is classified in Accounting Software 'Tally'.
Marking-scheme solution
Two main groups in which ‘Group of Accounts’ is classified in Accounting Software
‘Tally’ are:-
(i)
Primary Groups: It is basic grouping of the set of sub-groups into major account
heads according to their listing in Balance Sheet and Profit and Loss account.
(ii)
Sub-Groups: It is a set of accounts opened in the ledger of recording of related
transactions.
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