The cash or goods taken out from the business for private uses are known as:

1.  profit
2.  loss
3. drawings 
4.  assets

Book-keeping is mainly concerned with:

1. the arranging of books in alphabetical order
2.  recording of financial data relating to business operations
3.  creating employment to people 
4.  providing loans to people

(iii)      The account has two sides which are:

1.  inside and outside
2. opening side and balancing side
3.  debit side and credit side
4. closing side and bankers side

(iv)      The main aim of preparing trading account is to find:

1. net income
2.  gross profit or gross loss
3.  net profit or net loss
4. capital of the business

(v)       The statement used to check the correctness of the cash book balance and bank statement balance is known as:

1.  trial balance statement
2.  balance sheet statement
3. bank reconciliation statement
4.  assets and capital statement

(vi)      Properties which are held in the business for a long time are called:

1. fixed capital  
2. fixed assets
3. assets 
4.  current assets

(vii)    A cheque drawn or issued and entered in the cash book but not passed through the bank for payment until after the relevant date is known as:

1.  a standing order 
2. dishonoured cheque
3.  credit transfer 
4.  an unpresented cheque

(viii)The Government financial year of Tanzania starts from:

1.    1 ^st January to 31 ^st December each year
2.  1 ^st July to 30 ^th June the following year
3.   1^st January to 31 ^st December the following year 
4.  1 ^st July to 31^st December of the following year

(ix)    The following is not a source of government revenue:

1.  net salaries   
2. taxes
3. licenses 
4.  loans

(x)      The proper document used for depositing money in the bank is known as:

1. payment voucher 
2.  pay in slip
3.  invoice 
4.  bank statement