KCSE BASED BUSINESS STUDIES QUESTIONS WITH ANSWERS
Elephant Enterprises acquired a building valued at sh 1 000 000 on 1 January 2007,The building was insured with two insurance companies. Zebra and Simba for sh 600 000 and.sh 400 000 respectively. In May 2007, fire damaged the building.causing Elephant Enterprises to suffer a loss of 20% of the building value. Determine contribution made by Simba and Zebra to cover the loss.
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Outline four measures that a government may put in place to reduce high inflation in a country.
Measures that a government may put in place to reduce high inflation in a country.
State two characteristics of each of the following balance sheet elements: (a) Assets,(b) Liabilities
State two characteristics of each of the following balance sheet elements:
(a) Assets (b) Liabilities.
Assets
Features of liners in sea transport
Features of liners in sea transport include:
Outline the purpose of a trial balance as used in bookkeeping.
The following information relates to Oie Traders as at 30th June 2007:Calculate capital for Ole Traders as at 30 June 2007:
Shs.
Machinery 200,000 Furniture 100,000 Premises 400,000 Debtors 160,000 Cash in hand 10,000 Bank overdraft 100,000 Creditors 40,000
Role of a stock exchange market
Activities that may be carried out in a stock exchange market include:
Related Business Studies Quiz and Answers on Government and Business. Form 2 LevelThe figure below shows a decrease in demand for a commodity from DD to D1D1.State four possible causes that have led to this situation.
State four possible causes that have led to this situation.
Highlight four circumstances in which a cheque may be used as a means of payment. (4 marks)13/12/2020 Circumstances in which a cheque may be used as a means of payment
Circumstances in which a cheque may be used as a means of payment include:
The economy of a country X has grown at the rate of 10% per annum for the last two years. However, the standard of living among the citizens has not changed. Outline four reasons that may have contributed to this trend.
State four reasons why ethical practice is necessary in Product Promotion.
Reasons why ethical practice is necessary in Product Promotion.
Tasks that may be carried out by a receptionist in an office
Tasks that may be carried out by a receptionist in an office include:
Outline four factors that a trader would consider in choosing a mode of transport.(4 marks)13/12/2020 Outline four factors that a trader would consider in choosing a mode of transport.
Factors that a trader would consider in choosing a mode of transport.
Name two occupations that relate to each of the production activities given below: (3 marks)13/12/2020
Name two occupations that relate to each of the production activities given below: (3 marks)
Expected Response
Occupations that relate to the production activities are:
Outline four requirements for opening a current account with a commercial bank. (4 marks)13/12/2020 Outline four requirements for opening a current account with a commercial bank.
Requirements for opening a current account with a commercial bank.
Outline four factors that an entrepreneur should consider before setting up a manufacturing business.
Factors that an entrepreneur should consider before setting up a manufacturing business.
The following are descriptions of features of human wants. Identify the features that relate to the descriptions in the spaces provided. (4 marks)
Expected Response
Features of human wants as described are:
(a) Insatiable. (b) Recurrent / Repetitive. (c) Complementary. (d) Competitive. On 31 December 2005, Kiwa had accrued expenses of Sh.24,000. On 31st December,2006, the accrued expenses were Sh.30O00. In 2006 expenses paid for amounted to Sh. 85,000. Determine the expenses for the year 2006.The following balances were extracted from the books of Solai Traders as at 31 May 2006
Sh.
Current assets 220,000 Capital 425,000 Net profit 85,000 Creditors 98.200 Accrued expenses 11,800 Determine: (a) Working capital (2 marks) (b) Return on capital (2 marks) 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.
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