Find out which is not a Default Ledger in Tally A. Cash in Hand B. Capital Account C. Profit & Loss D. None of these

The correct answer is C. Profit & Loss.

A default ledger is a ledger that is created automatically when you create a new company in Tally. The default ledgers are:

• Cash in Hand
• Bank
• Debtors
• Creditors
• Purchases
• Sales
• Purchase Return
• Sales Return
• General Ledger

The Profit & Loss account is not a default ledger because it is a nominal ledger. Nominal ledgers are used to record income and expenses. The Profit & Loss account is a summary of all the income and expenses for a period of time. It is used to calculate the net profit or loss for the period.

The other options are all default ledgers because they are real ledgers. Real ledgers are used to record assets, liabilities, and equity.