FORM TWO BKEEPING NECTA MULTIPLE CHOICE 2007

The cash or goods taken out from the business for private uses are known as:

  1.  profit
  2.  loss
  3. drawings 
  4.  assets
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Book-keeping is mainly concerned with:

  1. the arranging of books in alphabetical order
  2.  recording of financial data relating to business operations
  3.  creating employment to people 
  4.  providing loans to people
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(iii)      The account has two sides which are:

  1.  inside and outside
  2. opening side and balancing side
  3.  debit side and credit side
  4. closing side and bankers side
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(iv)      The main aim of preparing trading account is to find:

  1. net income
  2.  gross profit or gross loss
  3.  net profit or net loss
  4. capital of the business
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(v)       The statement used to check the correctness of the cash book balance and bank statement balance is known as:

  1.  trial balance statement
  2.  balance sheet statement
  3. bank reconciliation statement
  4.  assets and capital statement
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(vi)      Properties which are held in the business for a long time are called:

  1. fixed capital  
  2. fixed assets
  3. assets 
  4.  current assets
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(vii)    A cheque drawn or issued and entered in the cash book but not passed through the bank for payment until after the relevant date is known as:

  1.  a standing order 
  2. dishonoured cheque
  3.  credit transfer 
  4.  an unpresented cheque
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(viii)The Government financial year of Tanzania starts from:

  1.    1 st January to 31 st December each year
  2.  1 st July to 30 th June the following year
  3.   1st January to 31 st December the following year 
  4.  1 st July to 31st December of the following year
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(ix)    The following is not a source of government revenue:

  1.  net salaries   
  2. taxes
  3. licenses 
  4.  loans
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(x)      The proper document used for depositing money in the bank is known as:

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