- Saving – The payment of premiums is a kind of saving to the policy holder
- Security – The policy is security for both the assured and beneficiaries
- The holder can secure a loan from the insurer without having to pledge for further security
- Interest/ Bonuses – The policy earns interest or bonuses on the paid up premium
- Investment – The holder may want to invest more by buying shares in the company
- Can use the matured amount after the stated period to invest
Kavungya answered the question on April 4, 2019 at 06:21
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Outline five disadvantages of sirens as a form of communication that is popular with
ambulances and the police
(Solved)
Outline five disadvantages of sirens as a form of communication that is popular with
ambulances and the police
Date posted:
April 4, 2019
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Answers (1)
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Describe the procedure that a shareholder would follow in selling share through the stock
exchange.
(Solved)
Describe the procedure that a shareholder would follow in selling share through the stock
exchange.
Date posted:
April 4, 2019
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Answers (1)
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Highlight four circumstances under which a country may be classified as underdeveloped
(Solved)
Highlight four circumstances under which a country may be classified as underdeveloped
Date posted:
April 4, 2019
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Answers (1)
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Highlight four characteristics of good development plan
(Solved)
Highlight four characteristics of good development plan
Date posted:
April 4, 2019
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Answers (1)
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Highlight four factor that may hinder the success of East African Co-operation (E.A.C)
(Solved)
Highlight four factor that may hinder the success of East African Co-operation (E.A.C)
Date posted:
April 4, 2019
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Answers (1)
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A country’s domestic currency has been depreciating over time. Highlight five disadvantages of this to the country
(Solved)
A country’s domestic currency has been depreciating over time. Highlight five disadvantages of this to the country.
Date posted:
April 4, 2019
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Answers (1)
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Differentiate between progressive and regressive taxation giving an example of each
(Solved)
Differentiate between progressive and regressive taxation giving an example of each
Date posted:
April 4, 2019
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Answers (1)
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Outline four short comings of a country borrowing heavily from internal and external sources
(Solved)
Outline four short comings of a country borrowing heavily from internal and external sources
Date posted:
April 4, 2019
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Answers (1)
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Mention four ways in which individuals can hold money
(Solved)
Mention four ways in which individuals can hold money
Date posted:
April 4, 2019
.
Answers (1)
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E-banking is a method of banking through electronic systems. Give four reasons to account
for the rising popularity of this banking system
(Solved)
E-banking is a method of banking through electronic systems. Give four reasons to account
for the rising popularity of this banking system
Date posted:
April 4, 2019
.
Answers (1)
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Identify the motive of holding money in each of the circumstances below:-
(a) Need to hold money to cater for future unforeseen eventualities
(b) Need to have...
(Solved)
Identify the motive of holding money in each of the circumstances below:-
(a) Need to hold money to cater for future unforeseen eventualities
(b) Need to have money to cater for daily expenses
(c) Need to have money with hope that prices will fall in future in order to purchase more
Date posted:
April 4, 2019
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Answers (1)
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Give four circumstances under which a trader would operate a fixed deposit account
(Solved)
Give four circumstances under which a trader would operate a fixed deposit account
Date posted:
April 4, 2019
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Answers (1)
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Highlight four differences between a balance sheet and statement of affairs
(Solved)
Highlight four differences between a balance sheet and statement of affairs
Date posted:
April 4, 2019
.
Answers (1)
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The following balances were extracted from the books of Shah Traders on 30th June, 2010
Closing stock was Kshs. 70,000 as at 30th June, 2010. Prepare...
(Solved)
The following balances were extracted from the books of Shah Traders on 30th June, 2010
Closing stock was Kshs. 70,000 as at 30th June, 2010. Prepare the trading account for the period
ended 30th June, 2010
Date posted:
April 4, 2019
.
Answers (1)
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The following information was extracted form the books of Bondo Traders as at 31st Dec. 2004
Opening stock 2,500
Purchases ...
(Solved)
The following information was extracted form the books of Bondo Traders as at 31st Dec. 2004
Opening stock 2,500
Purchases 46,000
Closing stock 1,500
Mark up 20%
Prepare a trading account.
Date posted:
April 3, 2019
.
Answers (1)
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The following information relates to Kafupi business enterprise:-
Average stock Shs.120,000
Rate of stock turnover 3 times
Margin ...
(Solved)
The following information relates to Kafupi business enterprise:-
Average stock Shs.120,000
Rate of stock turnover 3 times
Margin 25%
From the data above, determine;
(a) The cost of goods
(b) Gross profit
(c) Sales
Date posted:
April 3, 2019
.
Answers (1)
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The following balances were extracted from the books of Masai retailers on
14th July 2000
...
(Solved)
The following balances were extracted from the books of Masai retailers on
14th July 2000
Shs.
Opening stock 30 000
Purchases 800 000
Closing stock ?
Sales 1 000 000
Return inwards 20 000
Return outwards 15 000
Maasai retailers sell goods at a mark up of 20%
Prepare the trading account for the period ended 14th July 2000
Date posted:
April 3, 2019
.
Answers (1)
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The following information was extracted from the books of Klub traders
...
(Solved)
The following information was extracted from the books of Klub traders
Kshs.
Opening stock 160,000
Closing stock 200,000
Purchases 1,800,000
Margin 20%
Calculate klubs sales
Date posted:
April 3, 2019
.
Answers (1)
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From the following information prepare debtors control account for the year
ended 31st Dec 2007
...
(Solved)
From the following information prepare debtors control account for the year
ended 31st Dec 2007
Shs
Debtors balance 1-1-07 11,000
Credit sales ?
Bad debts written off 5,000
Return inwards 1,600
Receipts from debtors 31,000
Dishonoured cheque 2,800
Discount allowed 3,400
Debtors balance 31-12-07 25,300
Date posted:
April 3, 2019
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Answers (1)
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State the journal that deals with each of the following types of transactions
(Solved)
State the journal that deals with each of the following types of transactions
TYPE OF TRANSACTION JOURNAL
i) Credit sales
ii) Return of goods by customers
iii) Return of goods to suppliers
iv) Cash cheques received
v) Credit purchases
vi) Sale of fixed assets on credit
vii) Purchase of a motor van on credit from general motors
viii) Correction of errors
Date posted:
April 3, 2019
.
Answers (1)