KCSE Business Studies Topical Questions and Answers

Outline one circumstance under which each of the following source documents may be issued by a trader:

21/12/2020

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Outline one circumstance under which each of the following source documents may be issued by a trader:

(a) Debit note
(b) Invoice
(e) Credit note
(d) Quotation

When correcting undercharge.
When demanding payment for goods supplied.
When correcting an overcharge for goods supplied/empty packaging returned)goods returned.
When replying to a specific letter of inquiry.

Outline one circumstance under which each of the following source documents may be issued by a trader:

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Below are some entries in the cash book of Romano Traders for the month of July 2010.

21/12/2020

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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:

Bank overdraft.
Contra entry.
Cash received from debtor.
Closing cash in hand.

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Highlight four circumstances under which the capital of a business may change.

21/12/2020

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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:

When the business makes profit.
When the business makes losses.
When the owner draws cash/goods for personal use/drawings.
When the owner makes additional investment into the business/additional capital.

Highlight four circumstances under which the capital of a business may change.

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State the type of unemployment relating to each of the following descriptions:

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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.

Cyclical unemployment.
Disguised/hidden unemployment.
Structural unemployment/technological.
Voluntary unemployment/real wage.

State the type of unemployment relating to each of the following descriptions:

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The following information relates to Karibu traders for the year ended 31 December 2008.

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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)

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The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

21/12/2020

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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)

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The participants in a two sector economy are households and firms. Identify the relevant participant in each of the statements given below:

21/12/2020

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The participants in a two sector economy are households and firms. Identify the relevant participant in each of the statements given below:

(a) Households.
(b) Households.
(c) Firms.
(d) Firms.

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Fill the relevant branches of trade in the diagram given below:

20/12/2020

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Fill the relevant branches of trade in the diagram given below:

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State four functions of an office. (4 marks)

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State four functions of an office.

Functions of the office include:

Collecting information.
Receiving information.
Storing information.
Distributing information.
Production and reproduction of documents.
Centre for administration.
Mailing.
Communication centre.
safeguarding and controlling

State four functions of an office. (4 marks)

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State four characteristics of a successful entrepreneur.

20/12/2020

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Highlight four external factors that may negatively influence the operations of a business.

Vertical Divider

Characteristics of a successful entrepreneur include:

Innovative and creative.
Hardworking.
Goal-oriented/desires to achieve.
Time conscious.
Self confident.
Risk taker.
Good decision maker.
A good net worker.
A good communicator.
Should be ethical.
Should be flexible.
Future oriented.

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Highlight four external factors that may negatively influence the operations of a business.

20/12/2020

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Highlight four external factors that may negatively influence the operations of a business.

Vertical Divider

External factors that may influence the operations of a business negatively include:.

Unfair competition.
Inadequate technology.
Unstable political environment.
Unstable economic environment.
Unfavourable legal framework.
Unreliable supply system.
Strong consumer bargaining power.
Poor physical facilities and infrastructure
Low population level.
Insecurity.
Unfavourable socio-cultural environment.
Natural calamities.

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Outline four ways in which business studies may be of benefit to an individual.

20/12/2020

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Outline four ways in which business studies may be of benefit to an individual.

Ways in which Business Studies may benefit an individual include:

Equips the individual with skills and knowledge to manage a business.
Prepares one for future career in business.
Enables one to relate issues affecting business to its environment.
Enables one to relate issues affecting business activities taking place globally.
Enables one to identify business opportunities to venture into.
Prepares one for further studies.
Enables an individual to think creatively and make sound judgment.
Makes an individual to appreciate the role of government in business.
Makes individual disciplined and have positive attitude towards work.

Outline four ways in which business studies may be of benefit to an individual.

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Outline one circumstance under which each of the following source documents may be issued by a trader:

Outline one circumstance under which each of the following source documents may be issued by a trader:

Below are some entries in the cash book of Romano Traders for the month of July 2010.

Below are some entries in the cash book of Romano Traders for the month of July 2010.

Highlight four circumstances under which the capital of a business may change.

Highlight four circumstances under which the capital of a business may change.

State the type of unemployment relating to each of the following descriptions:

State the type of unemployment relating to each of the following descriptions:

The following information relates to Karibu traders for the year ended 31 December 2008.

The following information relates to Karibu traders for the year ended 31 December 2008.

The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

The participants in a two sector economy are households and firms. Identify the relevant participant in each of the statements given below:

The participants in a two sector economy are households and firms. Identify the relevant participant in each of the statements given below:

Fill the relevant branches of trade in the diagram given below:

Fill the relevant branches of trade in the diagram given below:

State four functions of an office. (4 marks)

State four functions of an office.

State four characteristics of a successful entrepreneur.

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.

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.

Outline four ways in which business studies may be of benefit to an individual.

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