Default ledger accounts in tally are ________ A. Balance sheet, profit & loss and trial balance B. Profit & loss and trial balance C. Cash and profit & loss accounts D. Cash and bank accounts

The correct answer is: A. Balance sheet, profit & loss and trial balance

A ledger is a book of accounts that contains all the financial transactions of a business. It is divided into different accounts, each of which represents a different type of asset, liability, equity, income, or expense.

The default ledger accounts in Tally are:

• Balance sheet accounts: These accounts represent the assets,
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  liabilities, and equity of a business.
• Profit and loss accounts: These accounts represent the income and expenses of a business.
• Trial balance accounts: These accounts are used to prepare a trial balance, which is a list of all the accounts in a ledger and their balances.

Cash and bank accounts are not default ledger accounts in Tally. They can be created as custom ledger accounts if needed.

Here is a brief explanation of each option:

• Option A: Balance sheet, profit & loss and trial balance. This is the correct answer. The default ledger accounts in Tally are the balance sheet accounts, the profit and loss accounts, and the trial balance accounts.
• Option B: Profit & loss and trial balance. This is not the correct answer. The profit and loss accounts and the trial
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  balance accounts are default ledger accounts in Tally, but the balance sheet accounts are not.
• Option C: Cash and profit & loss accounts. This is not the correct answer. Cash and profit & loss accounts are not default ledger accounts in Tally. They can be created as custom ledger accounts if needed.
• Option D: Cash and bank accounts. This is not the correct answer. Cash and bank accounts are not default ledger accounts in Tally. They can be created as custom ledger accounts if needed.