A statement which shows the financial position of the business is called

1. Tading account
2. Profit and loss account
3. Trial balance
4. Balance sheet

(ii)     Given a desired cash float of Tshs. 5,000/=. If Tshs. 4, 410/= is reimbursed at the end of the period, how much will be spent in the period?

1.  Tshs. 4,410         
2. Tshs. 590
3.  Tshs. 5,000   
4.  Tshs. 9,410

(iii)   Which of the following is an example of nugatory expenditure?

1. Payment for services received. 
2.  Purchases of office equipment. 
3.  Purchases of office typing machine.
4. Payment of services not received.

(iv)    Whenever cost of goods sold is greater than sales the outcome presents:

1.  gross profit    
2.  gross loss 
3.  net profit  
4.  net loss

(v)     An officer appointed in writing by the Treasury and charged with the duty of collecting and accounting for specified public money is called

1. Collector of revenue
2. Receiver of revenue 
3. Authorized office 
4.  Accounting officer.

(vi)    Discount received is advantageous to the buyer because

1.  it reduces the quantity of goods bought on credit
2.  it reduces the value of goods bought on credit
3.   It reduces the time to pay for goods bought on credit
4. it reduces cash to be paid for the goods bought on credit

(vii)  At whith ledger are supplier personal accounts found?

1.  Norminal ledger
2. General ledger 
3. Purchases ledger
4.  Sales ledger.

(viii)The document used to deposit money in the bank is known as

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

(ix)   Which of the following is not shown in he trial balance? 

1.  Purchases.
2.  Drawings
3. Opening stock 
4.  Closing stock

(x)     A credit balance in a bank account shows:

1.  the amount available at the end of the period.
2.  the amount that had been overspent at the end of the period
3. the total amount paid out at the end of the period 
4.  the total amount received at the end of the period.

THE UNITED REPUBLIC OF TANZANIA NATIONAL EXAMINATIONS COUNCIL OF TANZANIA

FORM TWO NATIONAL ASSESSMENT 2016

062   BOOK KEEPING

Duration: 2:30 Hours

SECTION A

1. For each of the items (i) — (x), choose the correct answer and write its letter

(i)A statement which shows the financial position of the business is called

A.Tading account

B.Profit and loss account

C.Trial balance

D.Balance sheet

(ii)Given a desired cash float of Tshs. If Tshs. 4, 410/= is reimbursed at the end of the period, how much will be spent in the period?

A.   Tshs. 4410 

B. Tshs. 590

C. Tshs. 5,000 

D. Tshs. 9,410

(iii)Which of the following is an example of nugatory expenditure?

A.Payment for services received. 

B. Purchases of office equipment. 

C. Purchases of office typing machine.

D. Payment of services not received.

(iv)Whenever cost of goods sold is greater than sales the outcome presents:

A.gross profit 

B. gross loss 

C. net profit 

D. net loss

(v)An officer appointed in writing by the Treasury and charged with the duty of collecting and accounting for specified public money is called

A.Collector of revenue

B.Receiver of reven ue 

C. Authorized office 

D. Accounting officer.

(vi)Discount received is advantageous to the buyer because

A.it reduces the quantity of goods bought on credit

B.it reduces the value of goods bought on credit

C.It reduces the time to pay for goods bought on credit

D.it reduces cash to be paid for the goods bought on credit

(vii)At which ledger are supplier personal accounts found?

A.Norminal ledger

B.General ledger 

C. Purchases ledger 

D. Sales ledger.

(viii)The document used to deposit money in the bank is known as

A.bank pay-in-slip          

B.bank statement 

C. cheque

D. payment voucher.

(ix)Which of the following is not shown in he trial balance? 

A. Purchases.

B.Drawings

C.Opening stock 

D. Closing stock

(x)A credit balance in a bank account shows:

A.the amount available at the end of the period.

B.the amount that had been overspent at the end of the period

C.the total amount paid out at the end of the period 

D. the total amount received at the end of the period.