I don't know half the stuff that does run on task manager. So as far as I am concern, I couldn't via task manager. But I can tell if things on the PC don't work like they should or things start to run slow.
I read somewhere that newer and more advance virus program can hide from Task manager or the file name of the virus is the same as commonly known programs like explorer.exe, so it is harder to tell if it is a virus or not. Plus, some virus programs hide within regular programs via browser plug-ins, media players, and other programs. I think those types of virus programs are called Trojans and Rootkits.
Plus, not all virus slow down your PC for it to be noticeable by the user, so virus programs can run in the background without the user noticing any slow down.
I think many malware can hide itself from showing at task manager. I have had some viruses but majority of them didn't show up there, only an antivirus program was able to undisguise those.