FORM TWO BKEEPING NECTA MULTIPLE CHOICE 2005

This is one of the objectives of book-keeping;

  1. To check the arithmetic accuracy in recording the account
  2. To show the debtors and creditors
  3.  Determination of profit 
  4.  To sell the goods
Choose Answer :

Business entity concept is:

  1. The owner of business has all control of the business
  2. Universal acceptance that a business is separated from the Owner(s)
  3.  Business accounts are kept together with those of the Owner
  4.  Debts of the owner(s) are those of the business
Choose Answer :

(iii)    The descending order in which current assets should be shown in the balance sheet is:

  1.  A stock, Debtors, Bank, Cash
  2.  Debtors, Stock, Bank, Cash 
  3.   Cash, Bank, Debtors, Cash
  4. Debtors, Stock, Cash, Bank
Choose Answer :

(iv)    The term "Nugatory expenditure" refers to:

  1. Fund into which all Government revenue is reserved
  2.  Expenditure for which the Government has received no value
  3.  Money to spend on the purchases of Government vehicles
  4. Expenditure incurred on buying
Choose Answer :

(v)      Which of the following account has a credit balance in the general ledger?

  1. Carriage inwards 
  2.  Carriage outwards
  3. Returns inwards
  4. Returns outwards
Choose Answer :

The main books and those in which the Double entry system of book keeping is kept are generally known as:

  1. Principle books
  2. The ledger books
  3. The cash book
  4.  The general Ledger
Choose Answer :

(vii)  The document which shows the firms or the customers amount as it stands at the bank:

  1.  Bank Reconciliation Statement
  2.  Bank statement
  3.  Bank balances  
  4. Customers bank balance
Choose Answer :

(viii)The periodical total of the purchases day book is transferred to the:

  1.  Dept side of the Purchase Account
  2. Credit side ofthe cash book
  3. Debit side of the bank account
  4.  Credit side of the personal account of suppliers
Choose Answer :

(ix)    The cost of putting goods into a saleable condition should be charged to:

  1.  Profit and Loss Account
  2. Trading Account
  3.  Balance sheet
  4. None of the above
Choose Answer :

(x)      When a petty cash book is kept there will be;

  1. The same number of entries in the general ledger
  2.  Fewer entries made in the general ledger
  3. More entries made in the general ledger
  4. No entries made at all in the general ledger
Choose Answer :

For Call,Sms&WhatsApp: 255769929722 / 255754805256

   Click Here To Access You Scheme(ONLY IF YOU A HAVE CODE)