KCSE BASED BUSINESS STUDIES QUESTIONS WITH ANSWERS
State the type of ledger account to which each of the following accounts relates: (4 marks)13/12/2020 State the type of ledger account to which each of the following accounts relates:
(i) Nominal.
(ii) Nominal. (iii) Creditors/purchases ledger. (iv) Real/general ledger.
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For each of the following transactions in the table below, indicate in the spaces provided, the source document from which the transaction would be recorded.
(a) Sales invoice/outgoing invoice.
(b) Debit note. (c) Credit note. (d) Purchases invoice. Outline the meaning of the following terms as used in accounting:(a) Contra entry ,(b) Cash discount13/12/2020 Outline the meaning of the following terms as used in accounting: (a) Contra entry , (b) Cash discount
(a) Contra entry:- This is a transaction affecting both sides of a two/three column cash book simultaneously. It is indicated by letter ‘C'.
(b) Cash discount:- This is a reduction/allowance given to a buyer by the setter for making prompt payment. Outline four benefits that may accrue to a business person who uses e-mail to communicate. (4 marks)13/12/2020 Outline four benefits that may accrue to a business person who uses e-mail to communicate.
Benefits that may accrue to a business person who uses e-mail to communicate.
The diagram below shows total cost curve of a firm in the short-run.Calculate the average variable cost of the firm.
.Calculate the average variable cost of the firm.
State four ways in which a warehouse is of importance to a manufacturer.
Ways in which a warehouse is of importance to a manufacturer.
Outline four features of a Private Limited Company.
Features of a Private Limited Company.
State four advantages of division of labour.
Advantages of division of labour.
The following trial balance was prepared from the books of Mugambi Traders for the year ended 31 December 2005
Prepare
(i) A balance sheet for the year ended 31 December 2005 (ii) Determine Working capital Capital employed Borrowed capital Explain five features that you would consider in establishing a warehouse for imported goods.
Features that you would consider in establishing a warehouse for imported goods.
Draw a diagram to show how equilibrium price and output are determined under- monopoly. (10mks)12/12/2020 Draw a diagram to show how equilibrium price and output are determined under- monopoly.
Determine determination of equilibrium price and output under monopoly.
Discuss five reasons why less developed countries are reluctant in implementing free trade agreement.
Reasons why less developed countries are reluctant in implementing free trade agreement.
Explain five benefits that could accrue to a customer who buys goods from a departmental store.
Benefits that could accrue to a customer who buys goods from a departmental store.
Explain five strategies that a small – scale firm could adopt to expand so as to enjoy economies of scale.
Strategies that a small – scale firm could adopt to expand so as to enjoy economies of scale.
Explain five factors that could affect the quantities of cabbages supplied in a market. (10mks)12/12/2020 Explain five factors that could affect the quantities of cabbages supplied in a market.
Factors that could affect the quantities of cabbages supplied in a market.
Explain five ways is which the Agriculture Finance Corporation(AFC),contribute to economic development in Kenya
Ways is which the Agriculture Finance Corporation(AFC) contribute to economic development in Kenya
Karani does not keep a complete set of accounting records.During the year ended 30 June 2006, the following balances were extracted from the books of accounts.
Additional information:
Karani drew sh. 140,000 from the business for private use. Opening capital was sh.2000 000 as at 1 July 2005 Additional capital during the year was sh.120,000. i) Prepare statement of affairs for the year ended 30 june 2006 ii) Determine profit or loss for the year ended 30 june 2006 Explain six sources of government revenue for development expenditure.
Sources of government revenue for development expenditure.
Features that are common to underdeveloped countries
Features of under development include:
Benefits which may accrue to Kenya by being a member of the African Development Bank (AFDB)
Benefits that Kenya may enjoy by being a member of the African Development Bank (ADB/AFDB) include:
Advantages of government involvement in business
Advantages of government involvement in business include:
Trends in office management
Trends in office management:
Explain four advantages of transaction business through e-commerce.
Advantages of transaction business through e-commerce.
Explain six reasons why a new business may fail
Outline four elements that may comprise the external environment of a business. |
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