This is one of the objectives of book-keeping;

1. To check the arithmetic accuracy in recording the account
2. To show the debtors and creditors
3.  Determination of profit 
4.  To sell the goods

Business entity concept is:

1. The owner of business has all control of the business
2. Universal acceptance that a business is separated from the Owner(s)
3.  Business accounts are kept together with those of the Owner
4.  Debts of the owner(s) are those of the business

(iii)    The descending order in which current assets should be shown in the balance sheet is:

1.  A stock, Debtors, Bank, Cash
2.  Debtors, Stock, Bank, Cash 
3.   Cash, Bank, Debtors, Cash
4. Debtors, Stock, Cash, Bank

(iv)    The term "Nugatory expenditure" refers to:

1. Fund into which all Government revenue is reserved
2.  Expenditure for which the Government has received no value
3.  Money to spend on the purchases of Government vehicles
4. Expenditure incurred on buying

(v)      Which of the following account has a credit balance in the general ledger?

1. Carriage inwards 
2.  Carriage outwards
3. Returns inwards
4. Returns outwards

The main books and those in which the Double entry system of book keeping is kept are generally known as:

1. Principle books
2. The ledger books
3. The cash book
4.  The general Ledger

(vii)  The document which shows the firms or the customers amount as it stands at the bank:

1.  Bank Reconciliation Statement
2.  Bank statement
3.  Bank balances  
4. Customers bank balance

(viii)The periodical total of the purchases day book is transferred to the:

1.  Dept side of the Purchase Account
2. Credit side ofthe cash book
3. Debit side of the bank account
4.  Credit side of the personal account of suppliers

(ix)    The cost of putting goods into a saleable condition should be charged to:

1.  Profit and Loss Account
2. Trading Account
3.  Balance sheet
4. None of the above

(x)      When a petty cash book is kept there will be;

1. The same number of entries in the general ledger
2.  Fewer entries made in the general ledger
3. More entries made in the general ledger
4. No entries made at all in the general ledger