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Form 4 Business Studies paper 1 questions and answers model test paper 1
The following details were extracted from the books of Omino enterprises for the year ended 31st dec 2009
Opening capital sh. 105,000
Capital introduced sh 15,000
Drawings sh. 6,000
Closing capital sh. 135,000
Determine the profit or loss for the year.
Opening capital sh. 105,000
Capital introduced sh 15,000
Drawings sh. 6,000
Closing capital sh. 135,000
Determine the profit or loss for the year.
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Questions/Lessons on this topic:
1. Explain the following as used in satisfaction of human wants. i)Utility ii)Producer goods iii)Scarcity and choice iv)Scale of preference ()
2. Outline four factors that may account for predominance of direct production in a country. ()
3. Differentiate between shares and debentures. ()
4. What do you understand by the following terms? -free goods -Producer goods -Public goods -Non-material goods ()
5. The following information was obtained from the books of JASHO TRADERS at the end of a trading period. Opening stock-sh. 65,000 Sales- sh. 300,000 Purchases- sh.180,000 Sales return- 5,000 Closing stock 42,000 Calculate the gross profit of the business ()
6. List four functions of the Kenya Bureau of statistics. ()
7. State four factors that limit the number of entrepreneurs in an area. ()
8. The figure below shows an increase in supply for a commodity from ss to s1s1 State four possible causes that have led to this situation. ()
9. Outline four reasons why inland water transport is to popular as a means of transport in Kenya. ()
10. Outline four types of errors that may cause a trial balance not to balance ()
11. Highlight four circumstances under which a firm may acquire oligopoly power. ()
12. Outline four importance uses of measuring national income in a country. ()
13. Outline factors that will influence choice of an office layout ()
14. Give four ways in which consumers may benefit when producers compete in product promotion ()
15. The following details were extracted from the books of Omino enterprises for the year ended 31st dec 2009 Opening capital sh. 105,000 Capital introduced sh 15,000 Drawings sh. 6,000 Closing capital sh. 135,000 Determine the profit or loss for the year. ()
16. In the below spaces, fill by stating whether each of the following transactions will increase, decrease or have no effect to the capital of the business a)The business made profit: b)bought stock of goods c)Withdrawal of stock for own use. d)Paid creditors by giving up an old machine ()
17. State four principles of co-operatives movement in Kenya. ()
18. List four documents used in home trade in the order stage. ()
19. Mutua and Mutuku both have taken life insurance policies. Outline the reasons why the two may not pay the same amounts as premiums ()
20. Highlight four disadvantage of ageing population ()
21. Highlight four benefits that may occur to an organization that practices effective communication ()
22. State four advantages of bonded warehouse to the government. ()
23. Identify the factors that may lead to an increase of demand of a product in the market. ()
24. The following are some of the source documents used in business i)Credit note received ii)Invoice issued iii)Credit note issued iv)Cash sale slip Match each of the following books of original entry with relevant source document a) Cash book b) Sales day book c) Return inward day book d) Return outward day book ()
25. Highlight four services that the central bank of Kenya may offer as a banker to commercial bank. ()
1. Explain the following as used in satisfaction of human wants. i)Utility ii)Producer goods iii)Scarcity and choice iv)Scale of preference ()
2. Outline four factors that may account for predominance of direct production in a country. ()
3. Differentiate between shares and debentures. ()
4. What do you understand by the following terms? -free goods -Producer goods -Public goods -Non-material goods ()
5. The following information was obtained from the books of JASHO TRADERS at the end of a trading period. Opening stock-sh. 65,000 Sales- sh. 300,000 Purchases- sh.180,000 Sales return- 5,000 Closing stock 42,000 Calculate the gross profit of the business ()
6. List four functions of the Kenya Bureau of statistics. ()
7. State four factors that limit the number of entrepreneurs in an area. ()
8. The figure below shows an increase in supply for a commodity from ss to s1s1 State four possible causes that have led to this situation. ()
9. Outline four reasons why inland water transport is to popular as a means of transport in Kenya. ()
10. Outline four types of errors that may cause a trial balance not to balance ()
11. Highlight four circumstances under which a firm may acquire oligopoly power. ()
12. Outline four importance uses of measuring national income in a country. ()
13. Outline factors that will influence choice of an office layout ()
14. Give four ways in which consumers may benefit when producers compete in product promotion ()
15. The following details were extracted from the books of Omino enterprises for the year ended 31st dec 2009 Opening capital sh. 105,000 Capital introduced sh 15,000 Drawings sh. 6,000 Closing capital sh. 135,000 Determine the profit or loss for the year. ()
16. In the below spaces, fill by stating whether each of the following transactions will increase, decrease or have no effect to the capital of the business a)The business made profit: b)bought stock of goods c)Withdrawal of stock for own use. d)Paid creditors by giving up an old machine ()
17. State four principles of co-operatives movement in Kenya. ()
18. List four documents used in home trade in the order stage. ()
19. Mutua and Mutuku both have taken life insurance policies. Outline the reasons why the two may not pay the same amounts as premiums ()
20. Highlight four disadvantage of ageing population ()
21. Highlight four benefits that may occur to an organization that practices effective communication ()
22. State four advantages of bonded warehouse to the government. ()
23. Identify the factors that may lead to an increase of demand of a product in the market. ()
24. The following are some of the source documents used in business i)Credit note received ii)Invoice issued iii)Credit note issued iv)Cash sale slip Match each of the following books of original entry with relevant source document a) Cash book b) Sales day book c) Return inward day book d) Return outward day book ()
25. Highlight four services that the central bank of Kenya may offer as a banker to commercial bank. ()
