Entrepreneurship-Book Keeping.

What is bookkeeping?

• Planning marketing campaigns

• Recording financial transactions

• Making employment contracts

• Delivering goods

Which of these is NOT part of bookkeeping?

• Recording income and expenses

• Classifying financial data

• Creating a company vision statement

• Summarizing transactions

Which document would you find in bookkeeping records?

• Exam timetable

• Bank statement

• Travel ticket

• Music playlist

Bookkeeping is important because:

• It encourages competition

• It provides accurate business records

• It reduces staff size

• It increases selling prices

Which of the following is a benefit of proper bookkeeping?

• Hiding losses

• Encouraging borrowing

• Better financial decision-making

• Manipulating profits

Bookkeeping helps in:

• Entertaining visitors

• Drawing cartoons

• Detecting fraud and errors

• Hiring new employees

What is the basic bookkeeping (accounting) equation?

• Assets = Capital – Liabilities

• Liabilities = Assets + Expenses

• Assets = Liabilities + Capital

• Capital = Revenue – Expenses

Which component shows the owner’s interest in the business?

• Liability

• Revenue

• Capital

• Expense

What happens if assets increase and liabilities stay the same?

• Capital decreases

• Liabilities increase

• Capital increases

• Assets decrease

If Assets = Ksh 150,000 and Liabilities = Ksh 50,000, Capital is:

• Ksh 100,000

• Ksh 200,000

• Ksh 75,000

• Ksh 150,000