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Form 4 Business Studies paper 1 questions and answers model test paper 1

State four advantages of bonded warehouse to the government.

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Explanation/Answer Text:
-The government gets revenue through the customs duty paid
-The government is able to control the volume of goods entering the country
-The government is able to verify documents of goods on transit
-the government is able to inspect the quality of of goods imported
-The government is able to inspect the nature of the goods imported
-The government is able to check on illegal goods entering the country.
Questions/Lessons List

1. Explain the following as used in satisfaction of human wants. i)Utility ii)Producer goods iii)Scarcity and choice iv)Scale of preference ( free lesson)

2. Outline four factors that may account for predominance of direct production in a country. ( free lesson)

3. Differentiate between shares and debentures. ( free lesson)

4. What do you understand by the following terms? -free goods -Producer goods -Public goods -Non-material goods ( free lesson)

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 ( free lesson)

6. List four functions of the Kenya Bureau of statistics. ( free lesson)

7. State four factors that limit the number of entrepreneurs in an area. ( free lesson)

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. ( free lesson)

9. Outline four reasons why inland water transport is to popular as a means of transport in Kenya. ( free lesson)

10. Outline four types of errors that may cause a trial balance not to balance ( free lesson)

11. Highlight four circumstances under which a firm may acquire oligopoly power. ( free lesson)

12. Outline four importance uses of measuring national income in a country. ( free lesson)

13. Outline factors that will influence choice of an office layout ( free lesson)

14. Give four ways in which consumers may benefit when producers compete in product promotion ( free lesson)

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. ( free lesson)

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 ( free lesson)

17. State four principles of co-operatives movement in Kenya. ( free lesson)

18. List four documents used in home trade in the order stage. ( free lesson)

19. Mutua and Mutuku both have taken life insurance policies. Outline the reasons why the two may not pay the same amounts as premiums ( free lesson)

20. Highlight four disadvantage of ageing population ( free lesson)

21. Highlight four benefits that may occur to an organization that practices effective communication ( free lesson)

22. State four advantages of bonded warehouse to the government. ( free lesson)

23. Identify the factors that may lead to an increase of demand of a product in the market. ( free lesson)

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 ( free lesson)

25. Highlight four services that the central bank of Kenya may offer as a banker to commercial bank. ( free lesson)

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