Business Paper 2 Questions - Maseno Mock Examinations 2022

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QUESTIONS

  1.    
    1. Highlight five functions of Commercial Banks in Kenya. (10 marks)
    2. Explain FIVE types of unemployment in the country. (10 marks)
  2.    
    1. Explain FIVE importance of Public Finance to the economy.(10 marks)
    2. Give FIVE differences between public limited company and partnership forms of business units. (10 marks)
  3.    
    1. Explain FIVE factors to be considered in evaluating a business opportunity. (10 marks)
    2. Maseno enterprises started business with Ksh 500,000 in cash on 1st December 2019
      Dec 2nd: Deposited Sh.300,000 cash into the bank
      8th: Purchases goods for resale Sh.25,000 in cash.
      11th: Took Sh.30,000 in cash for personal use.
      19th: Paid wages Sh.10,000 by cheque.
      25th: Cash sales Sh.75,000.
      Required:
      Enter the above transactions in Maseno enterprises ledger accounts and balance them off. (10 marks)
  4.      
    1. Explain FIVE reasons why country X may have higher national income than Y (10 marks)
    2. Mary owns a supermarket in Kisumu town and wants to take insurance cover.
      Explain FIVE policy contracts that she may sign with insurance companies.(10 marks)
  5.      
    1. The following trial balance was extracted from the books of Baite tradersas at 31st August 2015.
      Item Dr (Sh) Cr (Sh)
      Sales
      Purchases
      Cash at bank
      Return Inwards
      Carriage Inwards
      Carriage Outwards
      Salaries & Wages
      Debtors
      Creditors
      Stock
      Machinery
      Rent
      Discount received
      Lighting and heating
      Buildings
      Advertising
      Drawings
      Capital

      160,000
      290,000
      5,000
      20,000
      14,000
      10,000
      56,000

      35,000
      265,000


      12,000
      240,000
      13,000
      30,000
      350,000







      90,000


      25,000
      18,000




      667,000
      Additional information
      1. Stock on 31st August 2015 was valued at sh.50, 000
      2. Prepare Trading, Profit and Loss account for the year ended 31st August 2015 and a balance sheet as at 31/8/2015 (12 marks)
    2. Explain FOUR indictors of under development in a country.(8 marks)
  6.    
    1. Explain FIVE negative implications of trade restrictions in foreign trade. (10 marks)
    2. Using a well labelled diagram, explain the effects of an increase in demand while supply remains constant on the equilibrium point, price and quantity. (10 marks)

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