Uneb uce accounts 2009

Uneb uce accounts 2009

SECTION A : 20 MARKS
1. The amount set aside by the business from its profit to cater for uncertainties in future is referred to as
a) Savings.
b) Reserves.
c) Income.
d) Provision.
2. Which of the following statements is not true about a petty cash book? It is
a) Part of the double entry system.
b) A book of original entry.
c) Used to record payments of suppliers invoices.
d) Used to record payments of small expenses.