Below are some entries in the cash book of Romano Traders for the month of July 2010.
State the meaning of the following entries:
(a) July 1, 2010 Balance b/d, bank column, shs 100,000 (b) July 6, 2010 cash shs 20,000 and bank shs 20,000 (c) July 28, 2010 debtors shs 20,000 (d) July 31, 2010 Balance c/d shs 10,000
Meaning of the entries:
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Highlight four circumstances under which the capital of a business may change.
Circumstances under which the capital of a business may change are:
State the type of unemployment relating to each of the following descriptions:
(a) Caused by alternating trading patterns occurring at similar times.
(b) Arises where workers have more skills and higher qualifications than the job requirements. (c) Arises out of a mismatch between the skills possessed by potential employees and the location of the jobs available. (d) Arises when people are unwilling to take up jobs due to low pay.
The following information relates to Karibu traders for the year ended 31 December 2008.
Determine owner’s capital using the information given above. (4 marks)
The following balances were extracted from the books of Wekesa Traders on 31 December,2009.21/12/2020 The following balances were extracted from the books of Wekesa Traders on 31 December,2009.
Using the above information, prepare Wekesa Trader’s Trial Balance on 3 December, 2009. (5 marks)
The participants in a two sector economy are households and firms. Identify the relevant participant in each of the statements given below:
State four functions of an office.
Functions of the office include:
Highlight four external factors that may negatively influence the operations of a business.
Highlight four external factors that may negatively influence the operations of a business.20/12/2020 Highlight four external factors that may negatively influence the operations of a business.
Outline four ways in which business studies may be of benefit to an individual.
Ways in which Business Studies may benefit an individual include:
Explain five circumstances in which a firm may acquire monopoly power
Circumstances in which a firm may acquire monopoly power include:
A school leaver plans to start a retail business. Explain five types of small scale retail shops the person may start.
Types of small scale retail shops that a school leaver may start include:
Describe four characteristics of services.
Characteristics of services include:
The following Trial Balance was prepared by Laketi Traders on 31 December, 2009.
Using the information given above, prepare:
(i) A profit and loss account; (5 marks) (ii) A balance sheet. (7 marks) Explain five elements of effective communication.
Elements of effective communication include:
Explain five characteristics of property insurance.
Characteristics of property insurance include:
Discuss five factors that may promote entrepreneurship in Kenya.
Factors that may promote entrepreneurship in Kenya include:
Explain five disadvantages that a country would suffer if she restricted trade with other countries.20/12/2020 Explain five disadvantages that a country would suffer if she restricted trade with other countries.
Disadvantages that a country would suffer if she restricted trade with other countries include:
Explain five merits of direct taxes to the government.
Merits of direct taxes to the government include:
The table below shows the demand and supply schedules for product A in a week.
Using the information given in the table above, draw the demand and supply curves showing the market equilibrium for the product. (10 marks)
The demand and supply curves for product X showing its market equilibrium.
Explain five ways in which a computer may be used in an office.
Ways in which a computer may be used in an office include:
Explain five benefits of division of labour to an organization.
Benefits of division of labour to an organization include:
State four features of a perfectly competitive market.
Features of a perfectly competitive market include:
Highlight four factors that a firm may consider when deciding on the goods to produce.
Factors that a firm may consider when deciding on the goods to produce include:
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