The statement below described various types of goods. Identify the type of goods best described by each statement. (4mks)
(a) Owned by the government on behalf of its citizens.
(b) Goods that are capable of directly satisfying human want.
(c) Goods that are used to make other goods.
(d) Goods that get spoilt within a very short time.
State four natural sources of energy in Kenya. (4mks)
a)……………………………………………………………………………………….
b)……………………………………………………………………………………….
c)……………………………………………………………………………………….
d)………………………………………………………………………………………..
Highlight four types of advertising. (4mks)
a)………………………………………………………………………………...
b)………………………………………………………………………………….
c)…………………………………………………………………………………….
d)……………………………………………………………………………………….
Indicate the subsidiary ledger in which each of the following should be recorded. ( 4mks)
Account Subsidiary ledger
(a) Return inwards
(b) Bank
(c) Drawings
(d) Juma traders ( a debtor)
(e) Discount received
(f) Uchumi wholesalers (a supplier)
Apex traders provided you with the following
Margin 25%
Cost of sales 15,000
Opening stock 2,000
Closing stock 1,000
Operating expenses 2% of capital
Sales and capital are in the ratio of 1:4
Calculate :
(a) Rate of stock turnover
(b) Purchases
(c) Return on capital
Outline four important characteristics of a general journal. (4mks)
a)…………………………………………………………………………………………..
b)………………………………………………………………………………………….
c)…………………………………………………………………………………………...
d)………………………………………………………………………………………….
The following information was extracted from the books of farmers choice supermarket on 31st Dec 2009
shs
Average stock 30,000
Closing stock 40,000
Purchases 336,000
Carriage inwards 2,000
Return outwards 18,000
Margin 1/6
Required. Calculate sales for the year . (4mks)
Match each of the statements given below with the relevant type of capital. (4mks)
Statement Type of capital
(a) Resource invested into a business by the owner
(b) Excess of current assets over current liabilities
(c) Amount invested into the business by outsiders
(d) Represents total finance in a firm
State four benefits that would accrue to a customer who borrows a loan from a non-bank financial institution. (4mks)
a)…………………………………………………………………………………………..
b)………………………………………………………………………………………….
c)………………………………………………………………………………………….
d)…………………………………………………………………………………………..
Name four sources of public finance. (4mks)
a)……………………………………………………………………………………….
b)…………………………………………………………………………………………..
c)………………………………………………………………………………………….
d)………………………………………………………………………………………….