“200”, Aptitude Test
Questions and Answers for Mhasibu Daraja la II
(Accountant II) at Air Tanzania Company Limited – ATCL.
ABSTRACT
This material brings together 200 multiple-choice
questions to help candidates get ready for the Accountant Officer aptitude test
at Air Tanzania Company Limited (ATCL). The questions are practical and reflect
real accounting situations in a commercial airline environment, including financial
reporting under IFRS, budgeting, payroll, revenue recognition, internal
controls, procurement, auditing, and risk management. Each question comes with
a clear answer and a short explanation to help candidates understand why
an option is correct, not just memorize it. The aim is to build confidence,
improve accuracy, and support sound financial judgment in line with ATCL’s
operations and governance practices.
Prepared by: Accounts Officer.
Compiled by
Johnson Yesaya Mgelwa.
A lawyer stationed in Dar-es-salaam.
0628729934.
Date: July 15, 2025
Dear applicants,
This collection of questions and answers
has been carefully prepared to help all of you to understand the key areas
tested during the interview. The goal is to provide a useful, and practical
study guide so you can all perform confidently and fairly in the selection
process. I wish you the best of luck, and may this resource support you in
achieving success!
Warm regards,
Johnson Yesaya Mgelwa
For Personal Use by Applicants Preparing
for Mhasibu Daraja la II (Accountant II) at Air Tanzania Company Limited –
ATCL.
ALL QUESTIONS ARE COMPILED TOGETHER.
1. The main objective of preparing a bank reconciliation statement is to:
A. Detect frauds and errors B. Update the cashbook C. Identify differences between bank and cashbook balances D. Record all bank charges
Answer: C
Rationale:
A bank reconciliation statement compares the organization’s cashbook with the
bank statement to identify timing and posting differences. Its purpose is to
explain discrepancies arising from unpresented cheques, deposits in transit, or
bank charges, ensuring accurate reporting of cash balances.
2. Which accounting basis is primarily applied by commercial parastatals such as ATCL for financial reporting?
A. Cash basis B. Accrual basis C. Modified cash basis D. Modified accrual basis
Answer: B
Rationale:
Commercial entities like ATCL apply the accrual basis of accounting,
recognizing revenues when earned and expenses when incurred, regardless of cash
movement. This provides a more accurate picture of financial performance and
position.
3. The document commonly used to authorize and support payment of organizational expenditure is known as:
A. Payment voucher B. Local purchase order C. Expenditure return D. Pay slip
Answer: A
Rationale:
A payment voucher authorizes payment and forms part of the audit trail in both
public and corporate entities, including ATCL.
4. Who is responsible for providing independent external assurance on the financial statements of ATCL?
A. Accountant General B. Internal Audit Unit C. External Auditors appointed by shareholders D. Treasury Registrar
Answer: C
Rationale:
As a commercial parastatal, ATCL’s financial statements are audited by
independent external auditors appointed in accordance with company law and
shareholder requirements.
5. In accounting, debit represents:
A. Increase in liabilities B. Decrease in assets C. Increase in assets D. Increase in revenue
Answer: C
Rationale:
A debit entry records an increase in assets or expenses and a decrease in
liabilities, income, or equity. This follows the double-entry principle where
“debit what comes in” and “credit what goes out.”
6. Which framework primarily governs financial reporting and control in commercial entities like ATCL?
A. Public Finance Act B. Public Audit Act C. Local Government Finances Act D. International Financial Reporting Standards (IFRS)
Answer: D
Rationale:
Commercial parastatals apply IFRS to ensure transparent, consistent, and
internationally comparable financial reporting.
7. A trial balance helps to:
A. Prepare financial statements B. Detect all types of errors C. Prove arithmetical accuracy of ledger accounts D. Determine net profit
Answer: C
Rationale:
A trial balance tests the mathematical accuracy of ledger accounts by ensuring
total debits equal total credits. However, it cannot detect errors of omission
or compensating errors.
8. Which of the following is not a capital expenditure?
A. Purchase of office computers B. Construction of office building C. Salaries of permanent employees D. Purchase of land
Answer: C
Rationale:
Salaries represent recurrent expenditure since they are regular operational
costs. Capital expenditure involves acquisition or improvement of long-term
assets such as buildings, machinery, or land.
9. An Enterprise Resource Planning (ERP) accounting system in organizations like ATCL mainly serves to:
A. Record staff attendance B. Monitor flight schedules C. Conduct e-procurement only D. Manage financial transactions
Answer: D
Rationale:
ERP systems integrate accounting, budgeting, and reporting functions, improving
financial control and accuracy in large organizations.
10. Which among the following errors can be detected by trial balance?
A. Error of omission B. Error of principle C. Error of commission D. Compensating error
Answer: C
Rationale:
An error of commission occurs when an entry is posted to the wrong account of
the same class (e.g., wrong debtor). Such an error affects only one side of the
ledger and causes trial balance disagreement, making it detectable.
11. An organization purchased stationery worth TZS 300,000 but paid only TZS 200,000. The balance should appear as:
A. Expense B. Liability C. Asset D. Provision
Answer: B
Rationale:
The unpaid TZS 100,000 is an outstanding obligation to the supplier because the
goods have already been received but not fully paid. This creates an accounts
payable (creditor) balance, which is recorded as a current liability
in the statement of financial position until it is settled. The full stationery
cost is recognized as an expense (or inventory if material and controlled as
stores), but the unpaid portion remains a liability.
12. If total assets are TZS 20,000,000 and liabilities are TZS 8,000,000, what is the equity?
A. 12,000,000 B. 28,000,000 C. 8,000,000 D. 10,000,000
Answer: A
Rationale:
By the accounting equation, Equity = Assets – Liabilities = 20,000,000 –
8,000,000 = 12,000,000, representing the owner’s residual interest in the
assets.
13. If trade receivables are TZS 2,000,000 and doubtful debts provision is TZS 100,000, the net realizable value is:
A. 1,800,000 B. 2,100,000 C. 2,000,000 D. 1,900,000
Answer: D
Rationale:
The net realizable value equals total receivables minus provision for doubtful
debts (2,000,000 – 100,000 = 1,900,000). It represents the amount expected to
be collected.
14. A company sold goods for TZS 1,000,000 plus 18% VAT. The total amount to be received is:
A. 1,180,000 B. 1,000,000 C. 180,000 D. 820,000
Answer: A
Rationale:
Output VAT is added to the selling price. 18% of 1,000,000 = 180,000, hence
total invoice value = 1,000,000 + 180,000 = 1,180,000.
15. If ATCL converts TZS 1,300,000 into USD at an exchange rate of TZS 2,600 per USD, how many dollars will it receive?
A. 450 B. 650 C. 520 D. 500
Answer: D
Rationale:
Foreign currency conversions are common in airline operations due to payments
for fuel, aircraft maintenance, leases, and international services. To
determine the amount in USD, the Tanzania Shilling amount is divided by the
exchange rate:
1,300,000 ÷ 2,600 = 500 USD.
This question tests numerical accuracy and understanding of exchange rate
application in a commercial environment like ATCL.
16. A cashier receives TZS 3,200,000 and deposits only TZS 2,800,000 in the bank. The balance of TZS 400,000 should be recorded as:
A. Cash in hand B. Revenue C. Expense D. Suspense account
Answer: A
Rationale:
The unbanked amount represents cash still on hand, not yet deposited. It is
treated as an asset under cash in hand until it’s later banked.
17. If salaries payable at the beginning of the year were TZS 600,000, at the end TZS 400,000, and cash paid during the year TZS 5,000,000 — the expense to report is:
A. 5,000,000 B. 5,200,000 C. 4,800,000 D. 5,400,000
Answer: C
Rationale:
Opening liability (600,000) decreases and closing (400,000) is lower, meaning
200,000 less owed. Hence, expense = 5,000,000 – 200,000 = 4,800,000 as the
actual expense incurred during the period.
18. A supplier invoice shows: goods = 800,000; VAT = 18%; discount = 2%. What is the net payable amount?
A. 942,400 B. 960,000 C. 784,000 D. 940,000
Answer: A
Rationale:
Total = 800,000 + 144,000 (VAT) = 944,000 – 1.6% discount (944,000 × 0.016) = ≈
942,400. Shows order of applying tax and discount.
19. Depreciation of assets is recorded to:
A. Maintain asset value B. Allocate cost over useful life C. Increase cash flow D. Determine market value
Answer: B
Rationale:
Depreciation systematically allocates the cost of a tangible asset over its
useful life, matching expense with revenue generation and ensuring accurate
representation of asset value in financial statements.
20. Which among the following represents a liability?
A. Cash in hand B. Debtors C. Creditors D. Prepaid expenses
Answer: C
Rationale:
Creditors represent amounts owed by the organization to suppliers or other
parties, making them current liabilities expected to be settled within a short
period.
21. In corporate budgeting, an approved expenditure limit allocated to a department is best described as:
A. Vote B. Reserve fund C. Imprest D. Cost center budget
Answer: D
Rationale:
In commercial entities like ATCL, budgets are controlled through departmental
or cost-center allocations rather than votes.
22. Which of the following best defines working capital?
A. Total assets minus total liabilities B. Current assets minus current liabilities C. Fixed assets minus current liabilities D. Cash plus inventory
Answer: B
Rationale:
Working capital measures an organization’s liquidity and ability to meet
short-term obligations. It is calculated by subtracting current liabilities
from current assets, indicating operational efficiency.
23. Who is typically responsible for overall financial accountability in a commercial parastatal like ATCL?
A. Board Chairperson B. Human Resource Director C. Internal Auditor D. Chief Executive Officer / Managing Director
Answer: D
Rationale:
The CEO/Managing Director holds ultimate responsibility for financial
stewardship, supported by finance management and internal controls.
24. A revenue collected but not yet deposited to the bank should be recorded as:
A. Liability B. Expense C. Asset D. Deferred revenue
Answer: C
Rationale:
Cash collected but not yet banked represents an asset since it’s still in the
entity’s custody and expected to increase financial resources once deposited.
25. Which of the following is an example of a non-current asset?
A. Office stationery B. Furniture and fittings C. Inventory D. Bank balance
Answer: B
Rationale:
Non-current assets are long-term resources used for operations and not intended
for resale, such as furniture, buildings, and equipment. They provide economic
benefits beyond one financial period.
26. In an airline like ATCL, ticket revenue collected in advance for
flights not yet flown should be recorded as:
A. Revenue B. Asset C. Liability (Deferred/Unearned Revenue) D. Equity
Answer: C
Rationale:
Airlines often receive payment before providing the service (the flight). Under
accrual accounting, this cash is not immediately recognized as revenue because
the performance obligation is not yet satisfied. It is recorded as a liability
(deferred/unearned revenue) and recognized as revenue only when the flight
occurs or the service is delivered.
27. In a commercial organization like ATCL, which tool is primarily used to monitor departmental budget allocations and actual expenditure?
A. Vote book B. Cashbook C. Payment voucher D. Departmental budget / cost center report
Answer: D
Rationale:
Commercial entities control spending through departmental or cost-center
budgets rather than vote books. These reports help management ensure
expenditure stays within approved limits.
28. A payment made without supporting documents in an organization violates the principle of:
A. Accountability B. Transparency C. Completeness D. Validity
Answer: D
Rationale:
The validity principle requires every transaction to be supported by authorized
and verifiable documents. Payments without documentation weaken internal
controls and expose the organization to audit risks.
29. Which of the following errors will not affect the agreement of a trial balance?
A. Error of omission B. Error of casting C. Error of commission D. Posting to wrong side of ledger
Answer: A
Rationale:
An error of omission occurs when a transaction is completely left out of the
books, leaving both debit and credit sides unaffected. Therefore, the trial
balance still agrees despite the omission.
30. Which of the following represents a primary source of revenue for an airline such as ATCL?
A. Central government subsidies only B. Ticket sales, cargo services, and charter operations C. Market dues and licenses D. Local government taxes
Answer: B
Rationale:
ATCL generates revenue mainly from commercial activities such as passenger
ticket sales, cargo handling, and charter services, rather than statutory local
government revenues.
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