INSTRUCTIONS TO STUDENTS
- Answer ALL the questions in the spaces provided.
- Define the following terms
- Highlight four circumstances under which a cheque may be used as a means of payment.
- State four types of information that a manager may communicate to the juniors, (4 marks)
- Many countries in Latin America, Africa and Asia are considered to be under-developed. Outline four characteristics they have in common. (4 marks)
- The following transactions relates to Toror enterprises for the month of August 2015. Identify the source document and the respective books of original entry.
Transaction Source Document Book of original entry (a) Purchased goods on credit on 1/8/2015 (b) Returned goods back to the supplies on 7/8/2015 (c) Sold goods on credit to Cheprock Traders on 8/8/2015 (d) Cash sales of Sh.8,500 paid directly into the bank A/c on 24/8/2015
- Outline four ways in which a legal political environment may influence business. (4 marks)
- Outline four emerging trends in office management. (4 marks)
- Boda boda is nowadays becoming a popular means of transporting passengers and cargo in most parts of the country. Highlight four dimerits of Boda boda as a means of transport. (4 marks)
- State four clauses of the articles of association as one key document in the registration of a company. (4 marks)
- Outline four features of monopolistic competition market structure (4 marks)
- State four importance of a trial balance to a business. (4 marks)
- Banking industry offers different types of accounts to their clients. Identify the type of accounts outlined in the statements below. (4 marks)
- Account holders require to deposit a specific initial amounts as well as maintain a minimum balance...
- Account holder may deposit and withdraw money whenever they want without maintaining a minimum balance....
- Banks pay interest on the deposit at comparatively higher rates.
- Money may be deposited at any time and interest may be earned if a specified balance is maintained..............
- The following information was extracted from Utukufu Traders for the year ended 31/08/14
Capital as at 31/8/14 640,000
Capital as at 1/09/14 420,000
Drawings for the year 180,000
Net profit for the year 140,000
Determine the additional capital during the year.
- Name two occupations that relate to each of the production activities given below. (4 marks)
- Direct services
- Commercial services
- Outline four reasons why the government should regulate businesses. (4 marks)
- State four features of re-insurance companies. (4 marks)
- Explain the following terms as used in Business studies in relation to satisfaction of human wants.
- Complimentary wants
- Are numerous
- Vary in urgency and intensity
- The following transactions relates to the business of rafiki traders for the month of August 2018,
August 3: Started a business with sh.80,000 cash.
August 6: Bought furniture worth sh.3,800 from Muringa, paid sh.3000 cash and the balance to be paid later.
Record the above transactions in the relevant ledger a/cs and balance it off as at 6th August 2018.
- Highlight four features of a free warehouse (4 marks)
- Outline four benefits that a country would get by encouraging businesses to locate new industries in the rural areas. (4 marks)
- Explain the meaning of the following terms as used in international trade. (4 marks)
- Give four reasons for observing ethical practices in product promotion. (4 marks)
- Highlight four items that would be included in the measurement of national income using the expenditure approach. (4 marks)
- Below are some entries in the cash book of Romano Traders for the month of July 2010.
- July 1, 2020 Balance b/d, bank column, shs 100,000
- July 6, 2010 cash shs 20,000 and bank shs.20,000.
- July 28,2010 debtors shs.20,000.
- July 31, 2010 balance c/d shs. 10,000
- The table below shows the price index and the weights of items consumed by an average family.
Item Price Index Weight Food
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