-It is a legal requirement
-Facilitates compensation to victims of an accident by an insurance company.
-Enables the owner to have a replacement after occurrence of a risk.
-Encourages people to invest in the transport sector.
Kavungya answered the question on September 26, 2019 at 09:23
- Redraft the following balance sheet correcting any mistakes.(Solved)
Redraft the following balance sheet correcting any mistakes.
Date posted: September 26, 2019. Answers (1)
- Highlight the purpose of each of the following documents.
a)Delivery note
b)A debit note
c)An invoice
d)A statement of account(Solved)
Highlight the purpose of each of the following documents.
a)Delivery note
b)A debit note
c)An invoice
d)A statement of account
Date posted: September 26, 2019. Answers (1)
- On 1st June 2009, MULI ENTERPRISES had cash in hand sh. 87,000 and cash at bank
sh. 250,000.During the month, the following transactions took place.
June...(Solved)
On 1st June 2009, MULI ENTERPRISES had cash in hand sh. 87,000 and cash at bank
sh. 250,000.During the month, the following transactions took place.
June 2, Sales (cash) sh. 50,000
June 3, Paid salaries sh.101, 500 by cheque.
June 6, Received a cheque for sh. 76,800 from Mwelu after allowing her a cash discount of 4%.
June 12, Bought office furniture by cheque sh. 85,000
June 16, Settled Musau’s account of sh. 40,000 in cash, having deducted shs 800 cash discount.
June 18, Received a cheque for shs 150,000 in respect of cash sales.
June 21, Paid wages shs 24,000 in cash.
June 22, Withdrew shs 30,000 from bank for office use.
June 25, Withdrew shs 5000 cash for private use.
June 28, Received shs 16500 cash from Kasiva in settlement of her account less shs 660 cash discount.
June 30, Deposited all the money into bank except shs 25,000
Prepare a three column cash book and balance it off.
Date posted: September 26, 2019. Answers (1)
- The income approach is one of the methods used to measure the national income of the country.
Explain four types of incomes included in...(Solved)
The income approach is one of the methods used to measure the national income of the country.
Explain four types of incomes included in this approach.
Date posted: September 26, 2019. Answers (1)
- The following Trial balance was extracted from NDOLO’S STORES on 31st Dec 2009.
Additional information:-
Closing stock was valued at sh. 22,000.
Prepare NDOLO’S STORES; Trading, profit and...(Solved)
The following Trial balance was extracted from NDOLO’S STORES on 31st Dec 2009.
Additional information:-
Closing stock was valued at sh. 22,000.
Prepare NDOLO’S STORES; Trading, profit and loss accounts for year ending 31/12/2009.
Date posted: September 26, 2019. Answers (1)
- Savings and credit cooperatives have been registering an increasing number of members. Explain five reasons for such a development. (Solved)
Savings and credit cooperatives have been registering an increasing number of members. Explain five reasons for such a development.
Date posted: September 26, 2019. Answers (1)
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During a trader’s workshop, a speaker presented a speech on ethical issues in business. Highlight some ethical issues that he may have raised, affecting business.
Date posted: September 26, 2019. Answers (1)
- Explain five ways in which the central bank regulates the operations of commercial banks in Kenya.(Solved)
Explain five ways in which the central bank regulates the operations of commercial banks in Kenya.
Date posted: September 26, 2019. Answers (1)
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State four factors that may cause the above change from S0S0 to S1S1.(Solved)
Study the diagram below and answer the question that follows.
State four factors that may cause the above change from S0S0 to S1S1.
Date posted: September 26, 2019. Answers (1)
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Outline four ways in which a warehouse is of importance to a manufacturer.
Date posted: September 26, 2019. Answers (1)
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Give four reasons why electric trains are uncommon in Africa yet it is the common trend in other continents.
Date posted: September 26, 2019. Answers (1)
- The trial balance below relates to Mutua wholesalers and was wrongly prepared. Prepare a correct one.(Solved)
The trial balance below relates to Mutua wholesalers and was wrongly prepared. Prepare a correct one.
Date posted: September 26, 2019. Answers (1)
- The following information was extracted from the books of Kalema Traders on 30th June 11.
Stock on July 1st 2010 - sh. 48,000.00
Stock on...(Solved)
The following information was extracted from the books of Kalema Traders on 30th June 11.
Stock on July 1st 2010 - sh. 48,000.00
Stock on June 30th 2011 – sh 42,000.00
Purchases sh 140,000.00
Sales sh. 205,000.00
Calculate
(i)Cost of goods sold.
(ii)Mark up percentage
Date posted: September 26, 2019. Answers (1)
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Highlight four reasons why a firm may be located close to other firms.
Date posted: September 26, 2019. Answers (1)
- State the form of utility created by the activities listed below.
a)Exchange
b)Processing
c)Transport
d)Warehousing(Solved)
State the form of utility created by the activities listed below.
a)Exchange
b)Processing
c)Transport
d)Warehousing
Date posted: September 26, 2019. Answers (1)
- State whether the following statements relating to private limited companies are true or false.
(Solved)
State whether the following statements relating to private limited companies are true or false.
Date posted: September 26, 2019. Answers (1)
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Outline four functions of retailers which benefit the consumers.
Date posted: September 26, 2019. Answers (1)
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Give four reasons why a country may find it necessary to raise import duties.
Date posted: September 26, 2019. Answers (1)
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A wholesaler who buys goods from the producers incurs expenses. Outline four such expenses.
Date posted: September 26, 2019. Answers (1)
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Highlight four ways commercial banks have contributed to the rural development in Kenya.
Date posted: September 26, 2019. Answers (1)