KCSE Business Studies Topical Questions and Answers - ATIKA SCHOOL

State four factors that may influence the level of national income.

16/12/2020

State four factors that may influence the level of national income.

Factors that may influence the level of national income include:

Availability of natural resources. .
Availability of skilled labour force.
Literacy levels of the citizens in general.
Level of country’s industrialization.
Dependency ratio on the economically active portion of the population.
Level of technology
The size and quality of the population
The entrepreneurial culture/level of investment
Infrastructure (transport, communication
Political stability
Socio-cultural factors
Security

State four factors that may influence the level of national income.

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Outline four differences between insurance and assurance.

16/12/2020

Outline four differences between insurance and assurance.

Outline four differences between insurance and assurance.

Outline four differences between insurance and assurance.

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State four reasons why the government should create an enabling environment for investors.

15/12/2020

State four reasons why the government should create an enabling environment for investors.

Reasons why the government should create an enabling environment to investors include:

To minimize cost of doing business
To open new areas hitherto neglected by investors
To expand the tax base and hence increase revenue
To enhance economic development in the country
To promote public-private sector relationship
To create employment opportunities .
To increase the level of national income/increase economic growth
To avail a variety of goods and services
To enhance modem technology and skills
To encourage utilization of local resources
To earn foreign exchange
To encourage healthy completion among investors

State four reasons why the government should create an enabling environment for investors.

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The manager of Tasa Limited constantly walks around various departments. State four merits of this style of management.

15/12/2020

The manager of Tasa Limited constantly walks around various departments. State four merits of this style of management.

Merits of Management by Walking around (MBWA) include:

Manager has first-hand information on the goings - on in the organization,
Manager has instant feedback from the workers.
Manager can tackle issues as they arise
Manager can enhance interpersonal relations with the workers.
Subordinates avoid idleness and work as they feel the presence of the manager.
Manager can give relevant comments on performance/rewards/motivation
Manager can identify absenteeism/lateness
It controls misuse of resources.

The manager of Tasa Limited constantly walks around various departments. State four merits of this style of management.

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State the meaning of the following terms of sale as used in international trade:LOCO,C.I.F,F.A.S and F.O.Q

15/12/2020

State the meaning of the following terms of sale as used in international trade:LOCO,C.I.F,F.A.S and F.O.Q

Terms of sale as used in international trade.

Loco - This means the price of goods quoted at the exporters warehouse/premises. The importer bears the cost of packaging and transport/factory price/ex-works
C.LF. - Cost Insurance and Freight. Cost of Insurance and freight included up to the port of entry.
F.A.S. - Free Alongside Ship. Costs incurred on goods up to the point where they are ready to be loaded onto the ship.
F.O.Q - Free on Quay. This means the price quoted include all costs incurred up to the quay.

State the meaning of the following terms of sale as used in international trade:LOCO,C.I.F,F.A.S and F.O.Q

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The management of national debt, credit control and lender of last resort are some of the functions of the Central Bank. Match these functions with the statements given below.

15/12/2020

Give two reasons why a three column cashbook is used both as a journal and a ledger.

Appropriate functions are:
Management of national debt
Lender of last resort
Credit control

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Give two reasons why a three column cashbook is used both as a journal and a ledger.

15/12/2020

Give two reasons why a three column cashbook is used both as a journal and a ledger.

Reasons why a three column cash book is used both as a journal and a ledger:
Cash and bank columns in the cash book act as a ledger and total balances are used to prepare trial balance like other ledger accounts.
Both discount allowed and discount received columns act as a journal and their total balances are transferred to the ledger.
Cash transactions are entered in the three column cash book directly as they occur.

Give two reasons why a three column cashbook is used both as a journal and a ledger.

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The balances given below relate to Enotika Traders for the year ended 31st December 2008.

15/12/2020

The figure below shows a shift in the supply curve of a given commodity.

Shs

Capital ?
2yearbank loan 230,020
Creditors 95,200
Fixed assets 480,000
Current assets 145220

Prepare a balance sheet as at 31st December 2008.

The balances given below relate to Enotika Traders for the year ended 31st December 2008.

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The figure below shows a shift in the supply curve of a given commodity.

15/12/2020

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:

A fall in the cost of production
Fall in price of competitively produced goods e.g. Coffee and Napier grass
Technological progress
Conducive natural factors e.g. good weather
Favourable government policies like reduced tax and increased subsidies
Future expectations of a fall in price of the commodity
Entry of new firms in the industry
Increase in factors of production
Longer time
Less strikes
Increase in the price of jointly supplied goods.

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Name the types of warehouses associated with each of the statements given below:

15/12/2020

Name the types of warehouses associated with each of the statements given below:

Name the types of warehouses associated with each of the statements given below:

Types of warehouses referred to are:

Bonded warehouse
Public warehouse
Wholesalers warehouse
Manufacturers warehouse

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Give five reasons why the government may find it necessary to start a parastatal.

15/12/2020

Give five reasons why the government may find it necessary to start a parastatal.

Reasons why the government may find it necessary to start a parastatal include:

To provide strategic goods and services
To increase revenue collection
To encourage import substitution industries
To encourage foreign investment
To reduce foreign influence
To address special social needs
To take care of sensitive ventures like fire arms, and printing of money
To take care of businesses that requires a large initial capital
To create more employment opportunities
To stimulate economic development
To provide essential goods and services at low costs.

Give five reasons why the government may find it necessary to start a parastatal.

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In the spaces provided below, indicate the type of utility created by each of the following commercial activities:

15/12/2020

In the spaces provided below, indicate the type of utility created by each of the following commercial activities:

In the spaces provided below, indicate the type of utility created by each of the following commercial activities:

Type of utility created in each case is:

Possession
Place
Time
Form

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