(a)Scarcity-To ensure that the resources available are properly used to satisfy different human wants
(b)Opportunity cost-To ensure that the goods chosen do not result into inferior satisfaction in comparison with the satisfaction that would have been enjoyed from the goods or services foregone
Wilfykil answered the question on October 3, 2019 at 11:35
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Date posted: October 3, 2019. Answers (1)
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Date posted: October 1, 2019. Answers (1)
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Date posted: October 1, 2019. Answers (1)
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(i)GDP
(ii)GNP
(iii)NDP
(iv)NNP(Solved)
State the following abbreviations in full
(i)GDP
(ii)GNP
(iii)NDP
(iv)NNP
Date posted: October 1, 2019. Answers (1)
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Mention whether the following transactions have an increase, decrease or no effect on the assets, capital and liabilities of a business
Date posted: October 1, 2019. Answers (1)
- Kiburu carried out the following transactions during the month of February 2015.(Solved)
Kiburu carried out the following transactions during the month of February 2015.
February 1: Started business by depositing sh 220,000 in business bank account
7: Bought goods on credit from Miyogo Sh 72,000
8: Paid rent by cheque Sh 20,000
16: Sold goods to Kamula on credit Sh 50,000.
Required: Post the above transaction in the relevant ledge accounts
Date posted: October 1, 2019. Answers (1)
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The following information was extracted from the books of Dawida businesses enterprise for the year ended 30th June 2000
Determine the additional capital during the year.
Date posted: October 1, 2019. Answers (1)
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State four functions of retailers to consumers.
Date posted: October 1, 2019. Answers (1)
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Date posted: October 1, 2019. Answers (1)
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Using examples, distinguish between man-made resources and human resources.
Date posted: October 1, 2019. Answers (1)
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(i) Competitive environment –
(ii) Legal-political environment –
(iii) Business structure –
(iv) Business culture –(Solved)
State whether each of the following factors fall under macro-environment or micro-environment.
(i) Competitive environment –
(ii) Legal-political environment –
(iii) Business structure –
(iv) Business culture –
Date posted: October 1, 2019. Answers (1)
- State the term given to each of the following statements:-
(a) Activities carried out with view of making profit –
(b) Increasing the usefulness of a good...(Solved)
State the term given to each of the following statements:-
(a) Activities carried out with view of making profit –
(b) Increasing the usefulness of a good or services. –
(c) Movement of goods from producer to consumer
Date posted: October 1, 2019. Answers (1)
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Muinamo started a business on 1st March 2012 with a capital of 240,000 consisting of Sh. 130,00 in bank, Sh. 50,000 in cash and furniture worth Sh. 60,00. Transactions for the first week were as follows:
2012:
March 2nd purchased a typewriter by cheque Sh. 20,000
March 3rd bought delivery van for Sh. 450,000 from Mwangaza motors on Credit
March 4th Bought stock worth Sh. 15,000 for cash
March 5th Purchased goods worth Sh. 18,000 from Kinyua on credit
March 6th sold goods worth Sh. 30,000 on credit to Menge
March 7th paid 12,000 to Kinyua by Cheque
March 7th received Sh. 4,000 for rent by cheque
Required: Record the above information in the relevant ledger accounts and balance them off on 7th March 2012.
Date posted: October 1, 2019. Answers (1)
- Describe the following terms as used in accounting.
i) Assets
ii) Credit transactions.
iii) Networth of a Business.
iv) Ledger.(Solved)
Describe the following terms as used in accounting.
i) Assets
ii) Credit transactions.
iii) Networth of a Business.
iv) Ledger.
Date posted: October 1, 2019. Answers (1)
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Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016.
During the month of April 2015, the following transactions took place
2015
April 1st sold goods at cost Sh. 2000cash
April 2nd Paid creditors Sh. 8000 cash
April 10th received Sh. 2000 from his debtors in cash
April 15th Bought a motor van for Sh. 35,00 paying by cheque
April 25th purchased goods worth Sh. 15000 and paid by cheque
Required: Prepare a balance sheet as at 25th April 2015.
Date posted: October 1, 2019. Answers (1)
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Date posted: October 1, 2019. Answers (1)
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Using a well labeled diagram, differentiate between shift in demand curve and movement along the demand curve.
Date posted: October 1, 2019. Answers (1)
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Explain five benefits of matatu reforms in transport sector.
Date posted: October 1, 2019. Answers (1)
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Discuss five factors that may influence entrepreneurial practice positively in the country.
Date posted: October 1, 2019. Answers (1)
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Mukhwandala insured his house worth Kshs 3400,000 for Kshs 2960,000.Later it was destroyed leaving a fraction of the house worth Kshs 1260000.Calculate the compensation he would get.
Date posted: September 27, 2019. Answers (1)