Returns inwards deals with goods:

1.  Purchased on credit
2.  Returned by the firm to the supplier
3. Returned to the customer by the firm 
4. . Returned to the firm by its customer

Cash or goods taken out of the business for private use are known as:

1.  Balance
2. Drawings
3.  Loss
4.  Profit

(iii)     A document issued to the customer whenever a customer returns goods to the suppler is called.

1. Credit note
2. Debit note
3.  Invoice
4. Pro-forma invoice

(iv)     Posting is:

1.  Making statement of money worthiness of a business organization.
2.  Selling the assets which are easily bought
3. Sending letters, parcels and order to the post office
4. The process of transferring the debits and credits items from the journal to the respective accounts in the ledger.

(v)       One of the following reasons allows the goods to be returned to the supplier:

1. Consumable goods
2. durable goods
3. expired goods
4. perishable goods

(vi)     One of the objectives of book keeping is to:

1. allow fair tax assessment
2.  avoid payment of tax
3. get employment
4.  know how to steal money

(vii)    One of the items which appears in the bank statement but not in the cash book which causes the differences of the balance is called:

1. credit note
2.  direct deposit
3.  uncredited cheque
4.  unpresented cheque

(viii)The column in the account which shows the page of the ledger is called:

1. details
2.   folio
3. ledger account 
4. particular

(ix)     What will be the amount of capital from the following items? Premises Tshs. 200,000; Debtors Tshs. 170,000; Stock Tshs. 350,000; Creditors Tshs. 50,000; Loan from Ally Tshs.

220,000

1.  Tshs. 450,000 
2. . Tshs. 480,000
3. Tshs. 505,000 
4. . Tshs. 540,000

(x)       The total of the bought journal at the end of every month is:

1.  Credited to the individual Creditors account in Bought Ledger
2. Credited to the Sundry Creditors account in the Ledger
3. Debited to the nominal account in the General Ledger
4.  Debited to the purchases account in the General Ledger