-Decision making and implementation will be fast
-Trader will have close and personal conduct with customer and cater for their needs effectively
-Enjoys profit alone
-He will be able to maintain top secrets of the business operations
-Few legal procedures required to set up the business
Kavungya answered the question on September 25, 2019 at 13:54
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State the characteristics of human wants that suit the following statements.
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c) satisfaction of a given want gives rise to another
e) Everybody needs them in one form or another
Date posted: September 25, 2019. Answers (1)
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Sales Shs 950,000
Net profit 5 % of sales
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June
1st: Started business worth shs 140,000 deposited into the bank accounts
2nd :...(Solved)
The following transactions took place during the month of June 2010 in Mali traders.
June
1st: Started business worth shs 140,000 deposited into the bank accounts
2nd : Bought equipments worth shs 9,000 and paid by cheque.
8th : Received shs 6500 cash fron Kariuki who oved shs 7000 in full settlement of The account.
14th : Withdrew shs. 10,000 of which shs 6000 was for office use and the rest was to
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26th :Cash sales paid directly to the bank account shs. 12,000
27th :Paid Mwangi a creditor in cash sh.4200 in full settlement his account of shs 4,500
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Enter the above transactions in relevant cash book as at 30th June 2010 and balance it off.
Date posted: September 25, 2019. Answers (1)
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2005
January 18...(Solved)
On 1st January 2007, Nancy Traders had shs 8000 in cash and sh. 60,000 at bank. During the month, the following transactions took place.
2005
January 18 : Paid Shamisi Traders shs 17,000 by cheque less 2000 cash discount
“20 : Sold goods for sh.24,000 cash less by 5 % discount.
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Required:
Enter the above transactions in a three column cash book and balance it off.
Date posted: September 25, 2019. Answers (1)
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State four possible reasons why B demands more fish at every...(Solved)
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State four possible reasons why B demands more fish at every price that A.
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The following transactions took place during the month of April 2011.
(i)Received cash Kshs 15,000 from debtors
(ii)Paid creditors Kshs...(Solved)
The following balance sheet relates to Jubilee traders.
The following transactions took place during the month of April 2011.
(i)Received cash Kshs 15,000 from debtors
(ii)Paid creditors Kshs 10,000 cash
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Prepare a balance sheet as at 30th April 2011.
Date posted: September 25, 2019. Answers (1)
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(a)Market structure determiner price for the product
(b)There...(Solved)
The condition given below describes the various market structures. Write the correct market structure against each of the conditions.
(a)Market structure determiner price for the product
(b)There is free entry and exit.
(c)Market structure with many sellers of different product.
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Date posted: September 25, 2019. Answers (1)
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Premises 800,000
Debtors 40,000
Bank 80,000
Creditors 70,000
Cash 60,000
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Required:
Prepare opening journal entries to record...(Solved)
Mali had the following assets and liabilities in 1st January 2008.
Premises 800,000
Debtors 40,000
Bank 80,000
Creditors 70,000
Cash 60,000
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Bank loan 380,000
Required:
Prepare opening journal entries to record the above information.
Date posted: September 25, 2019. Answers (1)
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Stock 1 -10-05 7,500
Purchases 65,000
Sales 85,000
Return inwards 1,000
Mark-up 25 %
General expenses 12,200
Required:
Prepare a trading, profit and loss...(Solved)
The following relate to Ekerubo traders as at 30/09/2006.
Stock 1 -10-05 7,500
Purchases 65,000
Sales 85,000
Return inwards 1,000
Mark-up 25 %
General expenses 12,200
Required:
Prepare a trading, profit and loss A/C for the period ended 30-9-2006
Date posted: September 25, 2019. Answers (1)
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(ii) To pay for...(Solved)
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(ii) To pay for daily milk from Mama Maziwa.
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Date posted: September 25, 2019. Answers (1)
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(i) Employees
(ii) Inflation
(iii) Technology applied
(iv) Invested funds
(v) Cultural factors
(vi) Tools
(vii) Entrepreneur
(viii) Political...(Solved)
From the following list of items, classify them to either internal or external environment.
(i) Employees
(ii) Inflation
(iii) Technology applied
(iv) Invested funds
(v) Cultural factors
(vi) Tools
(vii) Entrepreneur
(viii) Political factors
Date posted: September 25, 2019. Answers (1)
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The following transactions took place during the month of April...(Solved)
The following balance sheet was extracted from the books of Kirui traders on 1st April 2011.
The following transactions took place during the month of April 2011.
4.04.2011 Mrs Kirui sold her personal assets for sh.30000 receiving payment by
Cheque which she invested in the business.
10.04.201 She purchased goods for sh.29000 on credit from Mutai
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Required
Open the relevant ledger accounts, record the above transactions and balance them off.
Date posted: September 25, 2019. Answers (1)
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Date posted: September 25, 2019. Answers (1)