THE UNITED REPUBLIC OF TANZANIA NATIONAL EXAMINATIONS COUNCIL OF TANZANIA CERTIFICATE OF SECONDARY EDUCATION EXAMINATION

062 BOOK KEEPING

(For Both School and Private Candidates)

Time: 3 Hours Year: 2022

Instructions

1. This paper consists of sections A, B and C with a total of nine (9) questions.

2. Answer all questions in sections A and B and two (2) questions from section C.

3. Section A carries twenty (20) marks and section B and C carry forty (40) marks each.

4. Non programmable calculators may be used.

5. Cellular phones and any unauthorized materials are not allowed in the examination room.

6. Write your Examination Number on every page of your answer booklet(s).

1.

SECTION A (20 Marks)

Answer all questions in this section.

Put each of the items (i )- (xv), choose the correct answer from among the given alternatives and write its letter beside the item number in the answer booklet provided.

(i) Identify the name of the statement prepared and sent by the coinsignee to the consignor showing the goods sold, price realized, expenses incurred, commission payable and the amount due from the consignee.

1. Proforma invoice
2. It Account sales
3. Delivery note
4. Price list
5. Consignment note

(ii) Which of the following statements describe the characteristics of a joint venture?

1. Equal sharing of profits and losses
2. Control is vested in operations and not assets
3. It is a permanent association
4. It is a temporary partnership that ceases at the end of agreed venture period
5. It is an association of partnership groups

(iii) Which account should partners prepare in order to share the profits or losses resulting from partnership business?

1. Profit and loss account
2. Current account
3. Capital account
4. Profit and loss appropriation account
5. Partners subscription account

(iv) Study the following book keeping errors and identify the set of errors which do not affect the agreement of the trial balance.

1. Sales of TZS 10,500 to Paul entered in Pauline account.
2. Cheque payment of TZS 13,400 for motor expenses entered in cash book only.
3. Purchase of goods worth TZS 4,400 from C. Bhoke entered in purchases and C. Bhoke accounts as TZS 4,040.
4. Wages account added up incorrectly, being overcast by TZS 1,000.

1. (iii) and (iv)
2. (i) and (iii)
3. (ii) and (iii)
4. (ii) and (iv)
5. (i) and (iv)

(v) Which is the correct statement about the starting and ending dates of the government financial year in Tanzania?

1. Starts on 1 m July of every year and ends on 30^th June of the following year.
2. Starts on 30th July of every year and ends on 1^st June of the following year.
3. Starts on January of every year and ends on 31^st December of the same year.
4. Starts on 1" July of every year and ends on 1^st June of the following year.
5. Starts on 30th January of every year and ends 30th June of the following year.

(vi) How is the amount of capital in a single entry book keeping system computed?

1. By opening cash account.
2. By opening total debtors account.
3. By opening profit and loss account.
4. By opening statement of affairs.
5. By opening total creditors account.

(vii) A lieu bought a machine worth TZS 3,200,000. It is to be depreciated at a rate of 25% using the reducing balance method. Calculate the remaining book value of the machine tiller two years.

1. TZS 1400,000
2. TZS 1,800,000
3. TZS 2,400,000
4. TZS 2,600,000
5. TZS 1,100,000

(viii) The amount kw prepaid expenses is presented in the balance sheet as

1. non-current asset.
2. current liability.
3. current asset.
4. an equity item.
5. non-current liability.

(ix) Which of the following is the correct presentation of donations received for a specific purpose in the statement of financial position of a non-profit making organization?

1. Asset
2. Income
3. Expense
4. Contingency
5. Liability

(x) Given a balance in the adjusted cash book of TZS 20,000, uncredited cheques of TZS 5,000 and unpresented cheque of TZS 3,000; What is the balance according to the bank statement?

1. TZS 18,000
2. TZS 23,000
3. TZS 25,000
4. TZS 28,000
5. TZS 22,000

(xi) How is the term Prime cost in manufacturing account categorized?

1. The sum of all direct costs.
2. The sum of all indirect costs.
3. The sum of all direct and indirect costs.
4. The sum of all costs of a completed product.
5. The sum of all costs of work in progress.

(xii) Which of the following would you consider the appropriate accounting equation when determining the closing balance in the sales ledger control account?

1. Opening balance + credit sales to debtors-amount paid to suppliers.
2. Opening balance + credit purchases from suppliers-amount paid to suppliers.
3. Opening balance-credit sales to debtors + amount received from debtors.
4. Opening balance - credit purchases from suppliers - amount paid to suppliers.
5. Opening balance + credit sales to debtors-amounts received from debtors.

(xiii)In which account would the amount for sales, purchases and return of goods for each department be recorded when preparing departmental accounts?

1. Balance sheet
2. Departmental profit and loss account
3. Revenue expenditure account
4. Departmental trading account
5. Capital expenditure account

(xiv) Which of the following combination of accounting entry and account represent the correct entry and account to which the total of the sales journal is posted?

1. Debit side of sales account
2. Credit side of sales account
3. Debit side of sales returns account
4. Credit side of purchases account lt
5. Debit sale of purchases returns account

(xv) Which one is the characteristic of exchequer account?

1. It is a fixed deposit account maintained by the central bank for all deposits by the commercial bank.
2. It is an account maintained by the central bank in which public revenues arc deposited in order to meet the approved expenditure.
3. It is an account maintained by the commercial banks Ibr the central bank in order to meet the minimum reserve requirements.
4. It is a saving account maintained by the central bank from which all senior government officers allowances are deposited.
5. It is a special account maintained by the central bank in order to rescue the commercial banks from financial crisis.