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2015 KCSE Bomet County Joint Examinations

Business Studies Paper 1

ALL answers must be written in the spaces provided in this booklet.
1.

Explain the following as used in the satisfaction of human wants
a)Utility
b)Producer goods
c)Scarcity and choice
d)Scale of preferences

4 marks

2.

Outline four factors that may account for predominant direct product ion in a country

4 marks

3.

Differentiate between shares and Debentures

4 marks

4.

What do you understand by the following terms.: (4marks)

(a)Free good
(b)Producer goods
(c )Public goods
(d)Non-material goods

4 marks

5.

The following information was obtained from the books of JASHO TRADERS at the end of a trading period.
Ksh
Opening stock 65,000
Sales 300,000
Purchases 180,000
Sales return 5,000
Closing stock 42,000


Calculate the gross loss of the business

4 marks

6.

List four function of the Kenya Bureau of Standards (KEBS)

4 marks

7.

State four factors that limit the number of entrepreneurs in an area.

4 marks

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

4 marks

9.

Outline four reasons why inland water transport is not popular as means of transportation in Kenya.

4 marks

10.

Outline four types of errors that may cause a trial balance not to balance

4 marks

11.

Highlight four circumstances under which firm may acquire oligopoly power.

4 marks

12.

Outline four important uses of measuring national income in a country

4 marks

13.

Ananda Sita intends to set up modern University in Eldoret. Outline four factors that will influence her choice of office layout.

4 marks

14.

Give four ways in which consumers may benefit when producers compete in product promotion

4 marks

15.

The following details were extracted from the books of Omino enterprises for the year ended 31st Dec 2009.
Ksh.
Opening capital 105,000
Capital introduced 15,000
Drawings 6,000
Closing capital 135,000

Determine the profit or loss for the year.

4 marks

16.

In the table below, fill in by stating whether each of the following transaction will increase, decrease or have no effect on the capital of the business.

TransactionEffect on capital
(a)The business made profit
(b)Bought stock of good
(c)withdrawal of stock for own use
(d)Paid creditors by giving up an old machine

4 marks

17.

State four main cooperative principles.

4 marks

18.

List four documents used in home trade at the order stage

4 marks

19.

Mamati has just taken a whole life policy and is complaining that his premiums are very high. Outline four reason why the premium may be high.

4 marks

20.

Highlight four disadvantages of an ageing population

4 marks

21.

Highlight four benefits that may occur to an organization that practices effective communication.

4 marks

22.

State four advantages of bonded warehouse to the government.

4 marks

23.

Identify the factor that can cause an increase in the demand of a product

4 marks

24.

The following are some of the source documents used in business.
(a)Credit note received
(b)Invoice issued
(c)Credit not issued
(d)Cash sale slip
March each of the following books of original entry with relevant source document.

Book of original entrySource of document
(a)Cash book
(b)Sales day book
(c)Return inward day book
(d)Return outward day book

4 marks

25.

Highlight four services that the Central Bank of Kenya may offer a banker to commercial bank.

4 marks

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