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(i) Annuity
Is an agreed amount of money that an insurer agrees to pay to the insured annually until the latter‘s death
(ii) Proposer
This is a person wishing to take out an insurance cover (Prospective insured)
(iii) Speculative risk
This is a risk that when it occurs may result in loss or a profit
(iv) Grace period
This is the time allowed between the date of signing of the contract and the date of the payment of the first premium.
sharon kalunda answered the question on September 2, 2019 at 11:14
- State the name of the source document used to record the following transactions(Solved)
State the name of the source document used to record the following transactions
Date posted: September 2, 2019. Answers (1)
- Enter the following transactions in the relevant ledger accounts
2015 April 1 Janet Cosmetics started a business with Ksh. 150,000 cash.
,, 3 Bought stock of...(Solved)
Enter the following transactions in the relevant ledger accounts
2015 April 1 Janet Cosmetics started a business with Ksh. 150,000 cash.
,, 3 Bought stock of goods for Sh. 40,000 and paid in cash
,, 6 Opened a bank account and deposited Sh. 60,000 from the cash till
,, 9 Purchased an office machine for Sh. 25,000 and paid by cheque
Date posted: September 2, 2019. Answers (1)
- Explain the meaning the following terms as used in National Income.
a) Gross Domestic Product
b) Gross National Product
c) Per capita Income(Solved)
Explain the meaning the following terms as used in National Income.
a) Gross Domestic Product
b) Gross National Product
c) Per capita Income
Date posted: September 2, 2019. Answers (1)
- The information below was extracted from the books of Lemayian Traders for the year ended(Solved)
The information below was extracted from the books of Lemayian Traders for the year ended 31. 12. 2015
Opening stock......................... 45,000
Closing stock .........................15,000
Turnover............................... 340,000
Margin.................................. 25%
Required:
(i) Gross profit
(ii) Purchases
Date posted: September 2, 2019. Answers (1)
- Distinguish between the following categories of government expenditures.
a) Recurrent expenditure
b) Capital expenditure(Solved)
Distinguish between the following categories of government expenditures.
a) Recurrent expenditure
b) Capital expenditure
Date posted: September 2, 2019. Answers (1)
- The following balance sheet belongs to Nyakwar Atiyo during the period ended 30th June 2000.
The following transactions took place on July 1 2000.
(i) Paid creditors...(Solved)
The following balance sheet belongs to Nyakwar Atiyo during the period ended 30th June 2000.
The following transactions took place on July 1 2000.
(i) Paid creditors Sh 2000 by cheque.
(ii) Nyakwar Atiyo took stock worth Shs 7500 from the business for his son‘s birthday.
(iii) Motor vehicle previously owned by Nyakwar Atiyo values at sh 200,000 was converted into business vehicles.
Required: Prepare the balance sheet of Nyakwar Atiyo traders as at 2nd July 2000.
Date posted: September 2, 2019. Answers (1)
- Outline four services offered in agency banking as a trend in the banking sector.(Solved)
Outline four services offered in agency banking as a trend in the banking sector.
Date posted: September 2, 2019. Answers (1)
- Outline four role of the mass media in promoting consumer protection(Solved)
Outline four role of the mass media in promoting consumer protection
Date posted: September 2, 2019. Answers (1)
- Highlight four problems associated with monopoly market structure.(Solved)
Highlight four problems associated with monopoly market structure.
Date posted: September 2, 2019. Answers (1)
- State four reasons why diagonal communication needs to be encouraged in an organization.(Solved)
State four reasons why diagonal communication needs to be encouraged in an organization.
Date posted: September 2, 2019. Answers (1)
- The following trial balance was extracted from the books of Lule Traders on 30th April 2015.Stock as at 30.4.2015 Shs. 49,980
Required:
a) Trading, profit and Loss...(Solved)
The following trial balance was extracted from the books of Lule Traders on 30th April 2015
Stock as at 30.4.2015 Shs. 49,980
Required:
a) Trading, profit and Loss account for the year ended 30th April 2015
b) Balance sheet as at 30th April 2015
Date posted: September 2, 2019. Answers (1)
- Explain four reasons why upward communication should be encouraged in an organization.(Solved)
Explain four reasons why upward communication should be encouraged in an organization.
Date posted: September 2, 2019. Answers (1)
- Bartenge Enterprises started business on 1st May 2014 with Shs. 250,000 consisting of:
Cash at bank Shs.200, 000, Cash in Hand Shs. 30,000 and Furniture Shs....(Solved)
Bartenge Enterprises started business on 1st May 2014 with Shs. 250,000 consisting of:
Cash at bank Shs.200, 000, Cash in Hand Shs. 30,000 and Furniture Shs. 20,000.
The following transactions took place during the month of May.
3rd May 2014, Motor Van worth Shs. 85,000 and stock of Shs. 25,000 were bought on credit
6th May 2014, more stock worth shs.10,000 was bought by cash
9th May 2014, withdrew money from bank sh 50,000 for office use
15th May 2014, Sold stock at cost to a customer on credit for shs. 18,500
19th May 2014, received a cheque for the full settlement of a debt owed from the transaction of 15th may 2014
23rd May 2014, paid Shs. 65,000 by cheque for the motor van bought earlier on credit
31st May 2014, paid Shs. 20,000 cash for the stock bought on credit
Required:
Prepare the balance sheet of Bartenge Holdings as at 31st May 2014.
Date posted: September 2, 2019. Answers (1)
- Unemployment solving has been an agenda to most developing economies. Identify the type of unemployment being solved below.
(i) Government initiating irrigation projects to ensure...(Solved)
Unemployment solving has been an agenda to most developing economies. Identify the type of unemployment being solved below.
(i) Government initiating irrigation projects to ensure continuous production of food
(ii) Retraining teachers to embrace use of technology in teaching and learning
(iii) Government and private sectors inventing job advertisement sites for easy access by job seekers
(iv) Parliament passing legislation that accommodate the disabled people to acquire jobs
Date posted: September 2, 2019. Answers (1)
- The following information relate to Kamau traders for the month of December 2015.
Dec. 1- sold goods for kshs. 45,000 less 10% cash discount
Dec 5 –...(Solved)
The following information relate to Kamau traders for the month of December 2015.
Dec. 1- sold goods for kshs. 45,000 less 10% cash discount
Dec 5 – Bought goods worth kshs. 4,000 in cash and was allowed a discount of 5%
Dec 7 – a debtor paid kshs. 20,000 in full settlement of a debt of kshs 23,000 by cheque
Dec 15 – Sold goods kshs. 70,000 on credit to jambo traders
Dec 26 – Paid rent kshs. 16,000 by cheque
Required:
Post the above transactions to relevant journals
Date posted: September 2, 2019. Answers (1)
- Identify the level of occupation described by each of the following information.(Solved)
Identify the level of occupation described by each of the following information.
Date posted: September 2, 2019. Answers (1)
- Give the name of the insurance policy described in the following table(Solved)
Give the name of the insurance policy described in the following table
Date posted: September 2, 2019. Answers (1)
- The following transactions relate to the books of kilimo holdings. Record them in the relevant ledger accounts.
(i) 1st January 2015, took a loan with ICDC...(Solved)
The following transactions relate to the books of kilimo holdings. Record them in the relevant ledger accounts.
(i) 1st January 2015, took a loan with ICDC of kshs. 50,000 receiving by cheque.
(ii) 5th January 2015, kelunyo, a debtor paid his account of kshs. 40,000 in cash.
(iii) 10th January 2015, took money from bank, kshs. 50,000 for office use
(iv) 12th January 2015, bought furniture kshs. 35,500 in cash
Date posted: September 2, 2019. Answers (1)
- List three withdrawals in the circular flow of income.(Solved)
List three withdrawals in the circular flow of income.
Date posted: September 2, 2019. Answers (1)
- The National Transport Safety Authority (NTSA) is a department within the transport sector in Kenya. Highlight four benefits Kenyans enjoy due to the establishment of...(Solved)
The National Transport Safety Authority (NTSA) is a department within the transport sector in Kenya. Highlight four benefits Kenyans enjoy due to the establishment of NTSA
Date posted: September 2, 2019. Answers (1)