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- To raise government revenue
- To reduce the tax burden of financing poor performing parastatals
- To encourage healthy competition among the businesses into the country
- To improve on the management in the running of the businesses
- To deal with the problem of corruption, misuse of funds and mismanagement of resources in parastatals
- Increased private sector participation
marto answered the question on September 25, 2019 at 09:30
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The capital of Kimosop traders on 1st January 2018 was shs. 85,000. During the year, additional investments of shs.50,000 and drawings of shs.60,000 were made. The capital as at 31st Dec 2018 was 65,000. Calculate Kimosop trader’s profits or loss
Date posted: September 25, 2019. Answers (1)
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Explain five factors that may have accounted for the trend...(Solved)
The table below shows the terms of trade for country A from year 2006 to 2009.
Explain five factors that may have accounted for the trend in terms of trade of country A.
Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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The conditions given below are for a monopoly firm or a firm operating under perfect competition. Write the correct market structure against each of the conditions.
a)Market structure determines price for the product
b)There is free entry and exit.
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Date posted: September 25, 2019. Answers (1)
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Outline four examples of open trade credit used in home trade.
Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Highlight any four services offered by commercial banks to their clients.
Date posted: September 25, 2019. Answers (1)
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Prepare a corrected trial balance.(Solved)
The following trial balance was prepared by a book keeper but failed to balance.
Majengo Traders
Trial Balance
As at 30th June 2003
Dr Cr
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Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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The capital A/C of Mbele Kabisa Traders showed a balance of shs 50,000 as at 1st July 2004. For the year ended June 2005 the following information was available:
a)Proprietor brought in a personal car worth sh. 80 000 for business use.
b)Net profit amounted to sh. 64 000.
c)The proprietor withdrew sh. 32 000 cash for personal use.
Prepare the capital A/C as at 30th June 2005
Date posted: September 25, 2019. Answers (1)
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Machine 150 000
Motor vehicles 200...(Solved)
Prepare the balance sheet of Baraka Traders from the following list of balances extracted from his books as at 31st December 2005.
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Stock 40 000
Creditors 25 000
Loan from KCB 100 000
Bank 20 000
Furniture 7 000
Capital 292 000
Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Outline four information which is disclosed in a statement of account.
Date posted: September 25, 2019. Answers (1)
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Highlight four features of open air market traders.
Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)
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Explain five factors that make indirect taxes preferable to direct taxes as a means of raising government revenue.
Date posted: September 25, 2019. Answers (1)