KCSE BASED BUSINESS STUDIES QUESTIONS WITH ANSWERS
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
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Explain six sources of government revenue for development expenditure.
Sources of government revenue for development expenditure.
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:
State four factors that could hasten the economic development of a country.
Factors hasten economic development in a country include
Outline four benefits that accrue to a customer who uses automated teller machine (ATM) banking service.
Benefits if using Automated Teller Machines (ATMs) include)
State four reasons why countries may decide to trade with each other.
State four ways that may be used to control the amount of money in circulation by the central Bank of Kenya.
State four ways that may be used to control the amount of money in circulation by the central Bank of Kenya.
The average consumer price for a 500g container of cooking fat for various years is shown in the table below.
Calculate the consumer price index using year 2000 as the base year
The following information related to Kerubo Traders for the year ended 31 December,2006. Prepare Trading profit and Loss Account for the year ended 31 December, 2006.
Prepare Trading profit and Loss Account for the year ended 31 December, 2006. (5mks)
Identify the book of original entry used in recording each of the following transactions of Soya Traders.
The following are some of the accounts available to customers in the Kenyan banking industry: Current account, savings account and Fixed deposit account. Give the account that corresponds to each of the descriptions given below.
The following trail balance relates to Chui Traders as at 31st December, 2014.
Required
Prepare Trading, Profit and Loss Account. (10 marks) Expected ResponseCheru Traders does not keep a complete set of books of accounts. The following information was extracted from her books of accounts.
During the year, cash received from debtors was sh. 1,400,000 while cash paid to creditors amounted to sh. 2,000,000. Cash sales were for Sh. 250,000 while cash purchases amounted to sh. 320,000. Carriage inwards was for sh. 46,000.
Other relevant information. - Returns inwards were Sh. 42,000. - Cheru had taken goods amounting to sh. 50,000 for personal use. i) Determine total sales. ii) Determine total purchases. iii) Prepare Trading Account for the period ended 31 December 2005. Explain four functions of money.
Explain five disadvantages that a country may experience from imposing trade restrictions on trading partners.
Vertical Divider
The following trial balance was extracted from the books of Fula Traders on 31st December 2005.10/12/2020 The following trial balance was extracted from the books of Fula Traders on 31st December 2005.
Additional information
- Stock on 31 December 2005 was valued at sh. 60,000 - Depreciation to be provided for as follows: Motor Vehicle 20% p.a on Cost Furniture 10% p.a on cost Prepare: i) Trading, profit and Loss Account for the year ended 31 December 2005. ii) Balance Sheet as at 31 December 2005. Ways that a government can use to finance a budget deficit.
Ways an investor benefit from the stock exchange
Ways in which an investor may benefit from the stock exchange include:
The following information relates to Kahawa Traders as at 31st December 2012.
Expected ResponseGoals of development to a country
Goals of development in a country include:
The following Purchases Returns Journal relates to Farasi Traders:
Post the information above to the relevant ledger accounts. (4 marks)
Expected ResponseName the documents described by the statements given below as used in International Trade:9/12/2020
Name the documents described by the statements given below as used in International Trade: (4 marks)
Expected Response
The documents described by the given statements are:
Levels of inflation
Levels of inflation include:
Study the table below and calculate the values represented by the letters a, b, c and d.(4marks)8/12/2020 Study the table below and calculate the values represented by the letters a, b, c and d.
Problems that a planner may encounter in development planning.
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