FORM TWO BKEEPING NECTA 2010

Business transaction is classified into:

  1. Two categories
  2. Three categories
  3.  Four categories 
  4.  Five categories
Choose Answer :


Which of the following is not a book of original entry?

  1.  Cash book
  2. Purchases journal
  3.  Returns outwards journal
  4. Sales ledger
Choose Answer :


(iii)    The purchases of machinery for a business paid by cheque should be debited to:

  1.   bank account, credit machinery account
  2.  cash account, credit machinery account 
  3.  machinery account, credit bank account
  4.  machinery account, credit cash account.
Choose Answer :


(iv)    The money or money worth put into business by the owner is known as:

  1.  assets
  2. business
  3. capital
  4. investment
Choose Answer :


(v)      A cheque which is denied payment by the bank is known as:

  1.  bank cheque
  2.  dishonoured cheque
  3.  honoured cheque
  4. uncredited cheque
Choose Answer :


(vi)    The total of the discount allowed in a cash book is posted to the:

  1.  credit of the discount allowed account
  2.  credit of the discount received account
  3. debit of the discount allowed account
  4. debit of the discount received account
Choose Answer :


(vii)  Unpresented cheques are those which appear on:

  1.  credit side of bank sheet but not seen on the debit side of cash book.
  2.  credit side of the cash book but not seen on the debit side of bank statement.
  3. debit side of bank sheet but not seen on the credit side of cash book.
  4. debit side of the cash book but not seen on the credit of bank statement.
Choose Answer :


(viii) The document which gives description of goods bought on credit is:

  1. cash sale
  2. credit note
  3.  invoice
  4.  receipt
Choose Answer :


(ix)    An alternative name for a purchases journal is:

  1.  cash purchases
  2. purchases day book
  3. sales day book 
  4.  sales ledger
Choose Answer :


(x)      The credit entry for net profit is on the credit side of the:

  1.  capital account
  2.   drawing account
  3.   profit and loss account 
  4.  trading account.
Choose Answer :


Download Learning
Hub App

For Call,Sms&WhatsApp: 255769929722 / 255754805256

GO TO NECTA EXAMS