A book which is used to record minor expenses of the firm is called:

  1. cash book
  2. journal
  3. petty cash book
  4. three column cash book
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(ii)       Which of the following is an example of nominal account?

  1. Cash
  2. Machine
  3. Stock
  4. Sundry creditors
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(iii)     The exchequer account is under the control of:

  1.  Accounting Officer
  2.  Controller and Auditor General
  3.  Paymaster General
  4. Treasury
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(iv)     Which of the following is not used in connection with cheque payments?

  1. customer
  2. drawee
  3. drawer D
  4.  payee
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(v)       The following are examples of real account:

  1.  cash and rent
  2. debtors and creditors
  3. machinery and building
  4.  sales and purchases
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(vi)     Another name for two column cash book is:

  1.  double column cash book
  2. petty cash book
  3.  single column cash book 
  4.  three column cash book
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(vii)    The sale of goods on credit to Kazamoyo amounting to Tshs.

400,000/= should be recorded as:

  1.  debit cash account, credit sales account
  2.  debit Kazamoyo account, credit cash account
  3. debit Kazamoyo account, credit sales account
  4. debit sales account, credit Kazamoyo account
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(viii)The excess of sales over cost of goods sold is called:

  1.  gross loss
  2. gross profit
  3.  net loss
  4.  net profit
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(ix)    The term "Nugatory expenditure" refers to:

  1.  expenditure incurred on buying
  2. fund into which all government revenue is reserved
  3.  money spent on the purchases of government vehicles
  4. payments made for which the government has received no value
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(x)      A credit balance in the cash column of the cash book means:

  1.  more is spent than what has been received
  2. posting error
  3.  some amount is stolen
  4.  totalling error
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