Availability of buyers
Availability of goods and services
Availability of sellers
Availability of a medium of exchange
Freedom to buy or sell
Platform for conducting transactions
Wincate 1 answered the question on October 1, 2017 at 09:58
- Identify the type of error described below.Description Type (i) Credit purchase of sh.78,000 was recorded as sh.87,000 in both purchases and creditors accounts. (ii) Sale of goods...(Solved)
Identify the type of error described below.
Description Type
i) Credit purchase of sh.78,000 was recorded as sh.
87,000 in both purchases and creditors accounts.
ii) Sale of goods on credit to Ntari sh. 18,000 was
debited in Ntati’s account
iii) Payment of salary sh.13,500 was debtited in the cash
account and credited in the salary expense account.
iv) Repair of motor vehicle sh. 5000 was recorded in the
motor vehicle account.
Date posted: October 1, 2017. Answers (1)
- Description Type (i) Arises when people are physically challenged (ii) Arises out of mismatch between the skills possessed by potential employees and the job opportunities available (iii) Caused by alternating trade patterns occurring...(Solved)
Description Type
i) Arises when people are physically
challenged
ii) Arises out of mismatch between
the skills possessed by potential
employees and the job
opportunities available
iii) Caused by alternating trade
patterns occurring at similar times
over the years
iv) Arises when there is change in
methods of production
Date posted: October 1, 2017. Answers (1)
- Identify the insurance terms described below.Description Term (i) To transfer ownership of life policy to another person (ii) Insuring same subject for the same risk with more than one insurance...(Solved)
Identify the insurance terms described below.
Description Term
i) To transfer ownership of life
policy to another person
ii) Insuring same subject for the
same risk with more than one
insurance company
iii) Regular payments for insurance
cover
iv) Refund received on cancellation
of life policy before maturity
Date posted: October 1, 2017. Answers (1)
- The government has risen the retirement age of civil servants from 55 years to 60 years. Highlight
four economic effects of such a move.(Solved)
The government has risen the retirement age of civil servants from 55 years to 60 years. Highlight
four economic effects of such a move.
Date posted: October 1, 2017. Answers (1)
- Differentiate between a perfect competition and an oligopoly(Solved)
Differentiate between a perfect competition and an oligopoly
Date posted: October 1, 2017. Answers (1)
- Highlight four measures that may be taken by a country to correct balance of payment deficit.(Solved)
Highlight four measures that may be taken by a country to correct balance of payment deficit.
Date posted: October 1, 2017. Answers (1)
- State the term that is used for each of the following statements (a) A situation where the government has borrowed internally at high interest rates...(Solved)
State the term that is used for each of the following statements
(a) A situation where the government has borrowed internally at high interest rates leaving little
space for locals to borrow from
(b) Debts Incurred by the government to finance activities that do not generate revenue at all at
any time
(c) Government expenditure which is incurred all the time on a regular basis
(d) Type of tax paid by companies based on profits
Date posted: October 1, 2017. Answers (1)
- In the spaces below indicate the source documents that correspond to the books of original entry
Source Document Books of original entry(Solved)
In the spaces below indicate the source documents that correspond to the books of original entry
Source Document Books of original entry
a. Sales journal
b. Purchase Journal
c. Return Inwards Journal
d. Purchase Returns Journal.
Books of original entry
Date posted: October 1, 2017. Answers (1)
- On 2nd November 2010, Kamu received an Invoice for sh. 24,000. Terms of payment were trade
discounts 10% and cash discount 20% , if payment is...(Solved)
On 2nd November 2010, Kamu received an Invoice for sh. 24,000. Terms of payment were trade
discounts 10% and cash discount 20% , if payment is made within 30 days . Determine the amount
paid if payment was made on 28th November 2010
Date posted: October 1, 2017. Answers (1)
- Outline four advantages of M-Banking.(Solved)
Outline four advantages of M-Banking.
Date posted: October 1, 2017. Answers (1)
- State four benefits a trader may get by advertising products in a radio.(Solved)
State four benefits a trader may get by advertising products in a radio.
Date posted: October 1, 2017. Answers (1)
- Highlight four features of a bonded warehouse.(Solved)
Highlight four features of a bonded warehouse.
Date posted: October 1, 2017. Answers (1)
- The following descriptions relate to insurance . State the term used for each description
(a) Temporary certificate of contract between the Insurer and the Insured
(b) Periodic...(Solved)
The following descriptions relate to insurance . State the term used for each description
(a) Temporary certificate of contract between the Insurer and the Insured
(b) Periodic payments made by a policy holder
(c) Insurance experts who appropriate the actual premiums to be paid
(d) Life assurance lasting for a specified period
Date posted: October 1, 2017. Answers (1)
- Outline circumstance under which verbal communication would be preferred to written
communication.(Solved)
Outline circumstance under which verbal communication would be preferred to written
communication.
Date posted: October 1, 2017. Answers (1)
- State four circumstances under which a business person may prefer to transport goods by boda
boda(Solved)
State four circumstances under which a business person may prefer to transport goods by boda
boda
Date posted: October 1, 2017. Answers (1)
- Outline four benefits that accrue to a business person who uses the latest technology in record keeping.(Solved)
Outline four benefits that accrue to a business person who uses the latest technology in record keeping.
Date posted: October 1, 2017. Answers (1)
- State four functions of an invoice in commercial transactions.(Solved)
State four functions of an invoice in commercial transactions.
Date posted: October 1, 2017. Answers (1)
- List four ways in which filing of documents may facilitate smooth running of an office.(Solved)
List four ways in which filing of documents may facilitate smooth running of an office.
Date posted: October 1, 2017. Answers (1)
- Highlight four reasons why people choose to be entrepreneurs.(Solved)
Highlight four reasons why people choose to be entrepreneurs.
Date posted: October 1, 2017. Answers (1)
- Give the characteristics of a successful entrepreneur.(Solved)
Give the characteristics of a successful entrepreneur.
Date posted: September 30, 2017. Answers (1)