DEMO|PAPER 28-QNS

 

PRESIDENT’S OFFICE

REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT

SINGIDA MUNICIPAL COUNCIL

FORM TWO SPECIAL EXAMINATION-BOOK KEEPING

TIME: 2:30 HRS JULY 2023.

INSTRUCTIONS:

1. This paper consist of three section A, B and C

2. Answer all questions from all sections

SECTION A (15 Marks).

Answer all questions in this section.

1. For each of the items (i)-(x) choose the correct letter among the given alternatives and write its letter beside the item number in the answer sheets.

i)What is the name of the book of original entry used to record the sale of fixed assets on credit?

1. Sales ledger

2. General journal

3. Sales ledger

4. Purchases ledger

ii)The following are sources of government revenue except.

1. Grants and aid

2. Loans

3. Retirement benefits

4. Borrowing

iii)The cost of putting goods into saleable condition should be charged to

1. Income statement

2. Balance sheet

3. Suspense account.

4. Trial balance.

iv)A cheque paid by you , but not yet passed through the banking system;

1. Unpresented cheques

2. A credit transfer

3. Dishonored cheque.

4. A standing order

v)The cost of borrowing money is known as;

1. Tax

2. Loan

3. Interest.

4. Drawings.

vi)The document which gives the description of goods bought on credit is;

1. Cash receipt

2. Credit note

3. Purchases invoice.

4. Sales invoice.

vii) The term “expenses” denotes

1. Payment or incurring of the debt for an asset

2. Cost of services used for generating income

3. Asset bought and sold

4. Cost incurred in buying an asset

viii) A trade discount is best described as;

1. A discount given if the invoice is paid

2. A discount for cash payment

3. A discount given to suppliers

4. A discount given to encourage bulk purchasing.

ix)Bookkeeping is the branch of accounting which deals with;

1. Analysis and interpretation of data

2. Recording, classifying, summarization of data and interpretation

3. Recording of financial business in the books of accounts

4. Credit transactions of the business.

x)A statement prepared to show the financial position of the business is known as;

1. Trial balance

2. Balance sheet

3. Journal

4. Ledger

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