(i)If the assets of a business amount to Tshs.  and owners capital is Tshs.  how much is the liability of the business? 

1.  Tshs.
2. Tshs.
3.  Tshs. 45,000/
4.  Tshs.

Katubi bought goods valued Tshs. 60,000/= on credit from Mwambasha. Therefore Mwambasha is a:

1. customer
2.  creditor
3.  debtor
4.  purchases

(iii)   Given a desired cash float ofTshs. 10,000/ = ,if Tshs. is spent, how much will be reimbursed?

1. Tshs. 2,800
2.  Tshs.7,200
3.  Tshs.7,300
4.  Tshs.10,000

(iv)    Which of the following is correct?

1.  Capital can only come from profit
2. Profit does not change capital
3. Profit increases capital 
4.  Profit reduces capital

(v)     An officer who controls Public Money is known as:

1. Authorized Officer 
2. Accounting Officer
3. Paymaster General
4.  D.  Receiver of Revenue

(vi)    In the Trading Account the Returns inwards should be:

1.  added to cost of goods sold
2. added to scale
3. deducted from purchases
4.  deducted from sales

(vii)  The arithmetical accuracy of the double entry system of business transactions is checked from the:

1.  Balance Sheet
2. Final Accounts
3.  Income Statements 
4. Trial Balance

(viii)The sale of goods on credit to Maganga should be recorded in:

                debit                                credit

(ix) Capital and drawings accounts are classified as:

1.  Nominal Accounts 
2. Personal Accounts
3.  Properties Accounts 
4.  Real Accounts

(x) Which of the following is not correct?