KCSE BUSINESS STUDIES TOPICAL QUESTIONS AND ANSWERS

ExpIan five measures that may be taken to increase the volume of exports

2/6/2020

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Measures that can be taken to increase the volume of exports

Export compensation scheme where exporters are allowed to claim a certain amoint /percentage of the value of the exports to enable exporters sell at a lower price
Diversifying foreign markets to expand the market for exports /this increases the selling opportunity for local products in the countries
Devaluation of a country's currency which makes its exports cheaper /more attractive to foreign buyers
Encourage (foreign)investments in the country that is geared towards production of goods for exports
Lobbying for removal of trade restrictions /barriers increased by trading partners on the country's exports
Reduction of bureaucracy In acquisition of exports licences this makes it attractive to engage in foreign trade
Use of commercial attaches /government agencies to promote country's exports abroad

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Outline four characteristics of a good tax system.

31/5/2020

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Answer

Characteristics of a good tax system include:

Equitably distributes the tax burden according to the payers’ ability to pay.
Certain and clearly defines what the payer is expected to pay.
Convenient and easy for the tax payer to meet the tax obligations.
Economical and allows the tax to be collected at the least cost
Flexible enough to allow for adjustments according to prevailing conditions.
Diverse as to capture as many sources as possible
simple enough to be understood by all tax payers
Elastic and able to generate more r venue with improved economic performance

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The following information was extracted from the books of Jabalí Traders on 31 December2015.

31/5/2020

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(a)Determine net purchase

Answer

Determining net purchases:
Purchases          84,375
Add: Carriage in 9,170
                                =93545
Less: returns out 15,520
Net purchases   = 78025

(b)State two reasons for preparing the trading account

Reasons for preparing the trading account include:

Enables the business to determine the value/cost of goods sold in a given period.
It reveals the amount of revenue generated from the sale of stock in a given year
It helps to determine whether the business has made a loss or a profit from the sale of stock in a given year.
It can help get the performance of a business if compared across different years.
It can help to compare the performance of a business to that of others

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Highlight four functions of the Department of External Trade in the Ministry of Industry, Trade and Cooperatives.

31/5/2020

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Answer

Functions of the Department of external trade in the ministry of Industry, Trade and Co-operatives include:

Develop bilateral and multilateral trade agreements to accord Preferential treatment to Kenyan exports.
Educating Kenyan exporters on trade regulations and practices in other countries.
Intervene on behalf of Kenyan traders in between Kenyan traders and foreign clients.
Arrange for trade fairs, shows and exhibition for Kenyan goods in foreign countries
Expand and diversity foreign markets for Kenyan goods
Inform Kenyan producers available selling opportunities in other countries.

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State the circumstance under which each of the following terms of trade would be applied in foreign trade.

30/5/2020

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Franco
Ex-works
In Bond
Free Alongside Ship

Answer

Circumstances under which each of the terms of trade would be
applied in foreign trade are:

Franco: when the price quoted covers all expenses till goods reach the premises of the buyer
Ex-works: when the price quoted only covers the fraction and while they are within the manufacturer’s warehouse.
In bond: when the prices quoted covers all expenses until goods are delivered in a bonded warehouse in the country of destination.
Free alongside ship (F.A): Where the price quoted cover all expenses to the point where the goods are next to the ship.

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KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS

18/8/2019

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KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS

QUESTIONS

financial_statements_business_form_4_topical_questions_and_answers.pdf
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inflation__business_form_4_topical_questions_and_answers.pdf
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international_trade__business_form_4_topical_questions_and_answers.pdf
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money_and_banking_business_form_4_topical_questions_and_answers.pdf
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public_finance_business_form_4_topical_questions_and_answers.pdf
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source_documents_and_books_of_original_entry__business_form_4_topical_questions_and_answers.pdf
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ANSWERS

source___documents_and_books.pdf
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public_finance_marking_scheme.pdf
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money_and_banking_marking_scheme.pdf
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international___trade.pdf
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inflation.pdf
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financial___statements_marking_scheme.pdf
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ExpIan five measures that may be taken to increase the volume of exports

Outline four characteristics of a good tax system.

Answer

The following information was extracted from the books of Jabalí Traders on 31 December2015.

(a)Determine net purchase

Answer

(b)State two reasons for preparing the trading account

Highlight four functions of the Department of External Trade in the Ministry of Industry, Trade and Cooperatives.

Answer

State the circumstance under which each of the following terms of trade would be applied in foreign trade.

Answer

KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS

KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS

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ExpIan five measures that may be taken to increase the volume of exports

Outline four characteristics of a good tax system.

Answer

The following information was extracted from the books of Jabalí Traders on 31 December2015.

(a)Determine net purchase

Answer

(b)​State two reasons for preparing the trading account

Highlight four functions of the Department of External Trade in the Ministry of Industry, Trade and Cooperatives.

Answer

State the circumstance under which each of the following terms of trade would be applied in foreign trade.

Answer

KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS

​KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS

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ANSWERS

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(b)State two reasons for preparing the trading account

KCSE PAST PAPERS: BUSINESS STUDIES FORM 4 TOPICAL QUESTIONS AND ANSWERS