Question

Give one word or term or phrase for each of the following statements.

Name the type of company in which inventory is maintained.

Answer 1

Name the type of company in which inventory is maintained- Account with Inventory

Explanation:
There are two types of companies that are displayed in Tally.ERP 9. These are Accounts Only and Accounts with Inventory.

a. When a business chooses to maintain only financial accounts in Tally, the Accounts Only type of company is opened while creating company in Tally.

b. When a business chooses to maintain financial books and inventory books, the Accounts with Inventory type of company is opened.