The following balances were extracted from the books of Soilo Traders on 31 December 2010.21/12/2020 The following balances were extracted from the books of Soilo Traders on 31 December 2010.
Additional information:
Gross profit margin is stated at 40%. Prepare: (i) Trading, Profit and Loss Account for the year ended 3Pt December 2010. (5+ marks) (ii) Balance sheet as at 3P’ December 2010.
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Explain five factors that may hinder economic development in Kenya.
Factors that may hinder economic development in Kenya include:
Explain five benefits that Kenya may get as a member of C.O.M.E.S.A.
Benefits that Kenya may get as a member of COMESA include:
Outline five characteristics of an efficient tax system.
Characteristics of an efficient tax system are:
Highlight four benefits that a country would get by developing her infrastructure.
Benefits that a country would get by developing her infrastructure include:
Outline four measures that a country can take to reduce the level of inflation.
Measures that a country can take to reduce the level of inflation 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 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:
In the spaces provided in the table below, name the document iambi Ltd. would issue under the circumstances described:
Documents to issue:
The following balances were extracted from the books of Highlife General Stores on 31st December 2008:
Prepare the balance sheet of Highlife General Stores as at 31 st December, 2008.
Highlight four problems of development planning that a country may experience.
Problems of development planning that a country may experience include:
State four forms of economic integration that may exist between countries.
Forms of economic integration include:
Outline one circumstance under which each of the following types of inflation may occur: Creeping inflation and Hyperinflation.
Circumstances under which each of the following types of inflation may occur include:
(i) Creeping inflation
The following information was extracted from the books of Marigi Traders on 30th June 2009.19/12/2020 The following information was extracted from the books of Marigi Traders on 30th June 2009.
Prepare the Trading Account of Marigi Traders for the year ended 30th June 2009. (5 marks)
Disadvantages that a developing country may suffer by liberalizing foreign trade
Disadvantages that a developing country may suffer by liberalizing foreign trade include.
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