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Form 5 Business Studies Exam Question Paper

Form 5 Business Studies Exam

Course:Business Studies

Exam Year:2015

1 a)Explain five characteristics of human wants.(10mks)
b)Explain five agency services that commercial banks provide on behalf of their clients(10mks)
2 a)Explain five differences between a public company and a state corporation (10mks)
b)Kenya's population has grown substantially over the last 10 years .Explain five problems the country is likely to encounter following this rapid increase in her population.(10mks)
3 a)A buyer has ordered for goods from a seller.Describe five documents that may be send by the seller before the buyer makes payment for the goods.(10mks)
b)Discuss five reasons why a country computes national income statistics .(10mks)

4 a)Explain the following methods that a trader can use to promote his products:(8mks)
i)Guarantees
ii)Loss leaders
iii)Public relations
iv)After sales services
b)Kavai had the following assets and liabilities on 1st March,2012 in Ksh.:
Buildings....... 880 000
Furniture....... 25 500
Stock.............. 40 000
Loan from Mavisi.... 15 000
Ahmed(a creditor)..... 14 000
Otieno(a debtor)......... 18 200
Bank overdraft.......... 22 200
Cash in hand.......... 6 000
Prepaid insurance....... 1 600

The following transactions took place during the month:
March 3 Received a loan of sh 10 000 from Mavisi by cheque.
March 5 Received a cheque of sh 18 000 from Otieno in full settlement of his account.
March 10 Paid rent sh 2 000 in cash.
March 14 Bought goods on credit from Ahmed,sh 5 000
March 20 Cash sales,sh 7 000
March 26 Paid Ahmed sh 18 000 by cheque,having deducted a cash discount of sh 1 000
March 31 Sold goods for cash sh 2 000

Required:
i) Enter the opening balances in the general journal to determine the capital (5mks)
ii)Prepare a three column cashbook for the month of March 2012,duly balanced (7mks)

5 a)Describe five factors that may lead to improvement in the terms of trade for a country.(10mks)
b)Explain five reasons why a good road transport network is beneficial to a country (10mks)

6 a)The Kenya government has an elaborate development plan of being an industrialized state by the year 2030.Explain four reasons why this vision may not be achieved .(8mks)
b)The following balances were extracted from the books of Longhorn Ltd as at 31st December 2012
Purchases 380 000
Carriage inwards 12 000
Return outwards 18 000
Sales 550 000
Stock(1.1.2012) 42 200
Returns inwards 14 400
Salaries 28 000
Electricity 5 000
Airtime 4 500
Carriage outwards 9 900
General expenses 28 400
Commission received 15 500
Discount received 8 600
Stock(31.12.2012) 19 300

Required:
Prepare a Trading,Profit and Loss account for the year ended 31st December ,2012. (12mks)

Form 5 Business Studies Exam Question Paper

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