(i) An officer in public service who controls public money is called

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

When cash is paid into the bank the effect is:

1.  assets of cash increase while bank assets decrease
2. assets of the bank increase while cash decreases
3. assets of the business increase while liabilities of the business decrease
4. fixed assets decrease

(iii)    The total of sales Journal is entered on the:

1.    credit side of the sales account
2.   credit side of the sales day book
3. debit side of the sales journal
4. debit side of the sales returns account

(iv)    Purchases invoice provides information to be entered in:

1.  Purchases Journal
2. Purchases Returns Journal
3. Sales Journal
4. Sales Returns Journal

(v)      A Trial Balance is prepared in the business in order to:

1.  calculate profit or loss
2. check bank balance
3. check the accuracy of ledger entries
4. provide a list of assets and liabilities

(vi)    An account where revenues collected by the Government are deposited before allocating to the Accounting officers is known as:

1.  current
2.  exchequer account
3. government account 
4.  personal account

(vii)  Which of the following is listed in the bank statement but not in the Customers Cash book?

1.  Bank charges
2. Opening balances in the Cash book
3.  Unaccredited cheques D. Unpresented cheques

(viii)The total return inwards is posted to the:

1.   credit side of the Purchases account
2.  credit side of the Sales account
3. debit side of the Purchases account
4. debit side of the Sales account

(ix)    The cash or goods taken from the business by the owner for personal use are known as:

1.  contra-entry
2. drawings
3.  gains
4.  losses

(x)      Which of the following is a liability?

1. Cash balance
2. Debtors
3.  Loan from NBC
4.   Loan to Anna

(vi)An account where revenues collected by the Government are deposited before allocating to the Accounting officers is known as:

A.current

B.exchequer account

C.government account D. personal account

(vii)Which of the following is listed in the bank statement but not in the Customers Cash book?

A.Bank charges

B.Opening balances in the Cash book

C.Unaccredited cheques D. Unpresented cheques

(viii)The total return inwards is posted to the:

A.credit side of the Purchases account

B.credit side of the Sales account

C.debit side of the Purchases account

D.debit side of the Sales account

(ix)The cash or goods taken from the business by the owner for personal use are known as:

A.contra-entry

B.drawings

C.gains

D.losses

(x)Which of the following is a liability?

A.Cash balance

B.Debtors

C.Loan from NBC

D.Loan to Anna

2.Choose the correct term from List B which matches with the explanation in List A and write the letter against the number of the corresponding explanation in the table provided.

SECTION B

3.Mention five types of Government revenue

4.Fill in the gaps in the following table:

SECTION C

5. Borakupata Brothers made the following purchases returns during the month of January, 2010.

Referring to the table, you are required to open:

(i)Purchases Returns Journal

(ii)Purchases ledger

(iii)General ledger

6.Post the following list of balances into the Trial Balance of Bafanabafana as at 31^st December, 2010.

7.The following is a Balance sheet of Maliyatabu traders as at 31 ^st December 2011.

MALIYATABU TRADERS BALANCE SHEET AS AT 31^st DECEMBER, 2011

You are required to redraft the above balance sheet correcting any mistakes therein.