LEARNING HUB TANZANIA

BOOK-KEEPING - TERMINAL EXAMINATION

FORM ONE

TIME: 2.00HRS                                                                                                       

NAME:_______________________________________                         CLASS:___________

INSTRUCTION

-          Answer all questions

1. Choose the correct answer and write its letter in table provided below

i)                    Information related to the exchange of money or money’s worth between two or more parties sale or buying of a trade item.

1. Business transaction
2. Book- keeping
3. Transaction
4. Buying and selling

ii)                  Information related to the finances of the company

1. Business transaction
2. Financial transaction
3. Transaction
4. Book-keeping

iii)                Which of the following distinguishes the business from the owner?

1. The cost concept
2. The dual aspect concept
3. The business entity concept
4. The money measurement concept

iv)                Which of the following keeps all accounts

1. Cash book
2. Ledger
3. Diary book
4. Folio column

v)                  Capital accounts are classified as

1. Personal accounts
2. Nominal accounts
3. Real accounts
4. Private accounts

vi)                Gross profit is

1. Excess of sales over cost of goods sold
2. Excess of sales over cost of goods available for sell
3. Cost of goods sold plus opening stock
4. Gross profit less total expenses

vii)              Net profit is calculated in the

1. Trading account
2. Profit and loss account
3. Trial balance
4. Cash book

viii)            Net purchases is obtained by taking

1. Purchases less sales
2. Purchases plus expenses
3. Purchases plus returns out less carriage inwards
4. Purchases plus carriage inwards less returns outwards

ix)                Net sales is found by taking

1. Sales less returns inwards
2. Sales less returns outwards
3. Sales plus returns inwards
4. Sales plus returns outwards

x)                  Net profit is

1. Sales less purchases
2. Net sales less net purchases
3. Gross profit less total expenses
4. Gross profit add total expenses

2. Match the items in list A with the responses in list B by writing the letter of the corresponding response beside the item number in the table below.

3. Draw a diagram to show the classification of  accounts

4. Complete the following table showing which account to be debited and which one to be credited

5. a) Give five importance of a trading, profit and loss account.

i)                    ________________________________________________________________________________________________________________________________________________

ii)                  ________________________________________________________________________________________________________________________________________________

iii)                ________________________________________________________________________________________________________________________________________________

iv)                ________________________________________________________________________________________________________________________________________________

v)                  ________________________________________________________________________________________________________________________________________________

b)From the following trial balance extracted at 31 Dec 2011 draw up a trading, profit and loss account for the year ended 31December 2011.

Additional information: stock at close was Tsh. 300.

THE END

LEARNINGHUBTZ.CO.TZFORM ONE BKEEPING MODAL SERIES 3