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Form 4 Business Studies paper 1 questions and answers model test paper 2
Outline four requirements for one start a limited liability company as one of the forms of business units
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Explanation/Answer Text:
Questions/Lessons on this topic:
1. Define the following terms as used in business studies i)Economics ii)Entrepreneurship iii)Opportunity Cost iv)Scale of preference. ()
2. Highlight four reasons why food is an important basic need. ()
3. Outline four importance of warehouse to a consumer. ()
4. Outline four requirements for one start a limited liability company as one of the forms of business units ()
5. Highlight four factors a firm may take into account when deciding on the products to produce. ()
6. Highlight four ways in which entrepreneurs can observe ethics in the management of their business ()
7. The following information was extracted from the books of Agnes business enterprise for the year ended 30th june 2000 Capital as at 30th june 2000-640,000 Capital as at 1st july 1999-420,000 Drawing for the year-180,000 Net profit for the year-140,000 Determine the additional capital during the year. ()
8. Highlight four circumstances in which one may convey verbal communication. ()
9. Highlight the factors that may have caused the supply curve to shift rightward direction. ()
10. Outline four circumstances under which a trader may issue a credit note to a customer. ()
11. Give the difference between: a)Double and co-insurance b)Premiums and Surrender value ()
12. Highlight four advantages of indirect tax. ()
13. Highlight four ways in which an illegal political environment can impact negatively entrepreneurs ()
14. Highlight four duties of commercial attache’ in trade promotion ()
15. Identify the book of original entry each of the following transactions can be posted. i)Paid salaries by cheque ii)Returned goods to a supplier iii)Sold goods on credit iv)Bought delivery van on credit ()
16. Outline three factors that constitute leakages out of a circular flow of income ()
17. Outline four advantages of using celebrities in product promotion ()
18. Distinguish between the following terms of sale as used in international trade. a)Free on rail b)Free on board(FOB) c)In bond d)On nearest Offer (ONO) ()
19. Kenya is planning to extend her pipeline transport network. State four advantages of pipeline transport to the country ()
20. Outline four emerging issues in office management ()
21. Highlight four features of perfect competition market ()
1. Define the following terms as used in business studies i)Economics ii)Entrepreneurship iii)Opportunity Cost iv)Scale of preference. ()
2. Highlight four reasons why food is an important basic need. ()
3. Outline four importance of warehouse to a consumer. ()
4. Outline four requirements for one start a limited liability company as one of the forms of business units ()
5. Highlight four factors a firm may take into account when deciding on the products to produce. ()
6. Highlight four ways in which entrepreneurs can observe ethics in the management of their business ()
7. The following information was extracted from the books of Agnes business enterprise for the year ended 30th june 2000 Capital as at 30th june 2000-640,000 Capital as at 1st july 1999-420,000 Drawing for the year-180,000 Net profit for the year-140,000 Determine the additional capital during the year. ()
8. Highlight four circumstances in which one may convey verbal communication. ()
9. Highlight the factors that may have caused the supply curve to shift rightward direction. ()
10. Outline four circumstances under which a trader may issue a credit note to a customer. ()
11. Give the difference between: a)Double and co-insurance b)Premiums and Surrender value ()
12. Highlight four advantages of indirect tax. ()
13. Highlight four ways in which an illegal political environment can impact negatively entrepreneurs ()
14. Highlight four duties of commercial attache’ in trade promotion ()
15. Identify the book of original entry each of the following transactions can be posted. i)Paid salaries by cheque ii)Returned goods to a supplier iii)Sold goods on credit iv)Bought delivery van on credit ()
16. Outline three factors that constitute leakages out of a circular flow of income ()
17. Outline four advantages of using celebrities in product promotion ()
18. Distinguish between the following terms of sale as used in international trade. a)Free on rail b)Free on board(FOB) c)In bond d)On nearest Offer (ONO) ()
19. Kenya is planning to extend her pipeline transport network. State four advantages of pipeline transport to the country ()
20. Outline four emerging issues in office management ()
21. Highlight four features of perfect competition market ()
