On 1st January 2007, Muthoni Traders Cash Book showed a credit balance of Ksh 150,000 at the bank and a debit balance of Ksh 25,250 in hand. During the month, the following transactions took place:
Prepare a Two-column Cash Book for the month. (5 marks)
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Outline four reasons why a firm may remain small.
Reasons why a firm may remain small include:
Objectives that may be achieved by establishing firms in different parts of the country
Objectives that may be attained by establishing firms in different parts of the country include:
Outline four ways in which households contribute to national income of a country.
Ways in which households may contribute to national income of a country include:
The table given below represents the supply schedule of sukuma wiki (kales) for eight weeks in the months of January and February 2009.
Outline four causes of the trend in the table. (4 marks)
Causes of the declining supply of sukuma wiki include:
a) On first January 2012, Ndovu Traders had shs 30,000 in cash and shs 75000 at the bank. During the month, the following transactions took place:
Prepare a duly balanced three column cash book. (12 marks) Expected ResponseThe following transactions were extracted from the books of Sarah Traders for the month of March 2006.
Outline four factors that may be considered when measuring the size of a firm.
Factors that may be considered when measuring the size of a firm include:
Outline four ways of reducing the level of unemployment in Kenya.
Ways of reducing the level of unemployment in Kenya include:
Discuss five problems that a country may face when measuring her national income using the output approach.
Problems that may be faced when measuring national income using the output approach include:
Explain five benefits that a member country may get from economic integration.
Benefits that a member country may get from economic integration include:
The following balances were extracted from the books of Kl00 Traders for the year ended 30th June 2008.
Additional information:
(i) Stock on 30th June 2008 was valued at shs 120,000. Prepare: (i) Trading, Profit and Loss accounts for the year ended 30th June 2008. (9 marks) (ii) Balance sheet as at 30th June 2008. (5 marks) Describe five principles that distinguish co-operative societies from other forms of business organizations.
Explain five negative effects that inflation may have on the economy of a country.
The diagram below represents the long-run equilibrium of a firm under monopolistic competition.Name the curves represented by the letters a, b, c, and d.
Name the curves represented by the letters a, b, c, and d.
(i) a is (ii) b is (iii) c is (iv) d is
The curves represented are:
The diagram below represents the relationship between population and income per capita.
State what is represented by P and S axes, and letters R and Q.
(i) P(axis) . (ii) S (axis) . (iii) R (iv) Q
The letters represent. ‘
State four problems associated with development planning.
Problems associated with development planning include: Inadequate data
The terms capital employed, working capital, owner’s equity and borrowed capital are types of capital found in a business. Match each of the statements given below with the relevant type of capital.
Matching statements on capital with types of capital
Outline the difference between cash and credit transactions.
Difference between cash and credit transactions: .
State four factors that may influence the level of national income.
Factors that may influence the level of national income include:
Give two reasons why a three column cashbook is used both as a journal and a ledger.
The figure below shows a shift in the supply curve of a given commodity.
Outline four factors that may have caused the shift in the supply curve from S0 to S1.
Factors that may have caused the shift in supply include:
Positive implications of a youthful population to an economy
Positive implications of a youthful population to an economy include:
The following information relates to Kiboko Traders as at 31st December 2010.
Calculate Kiboko’s initial capital. (3 marks)
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