- To raise government revenue
- To reduce the tax burden of financing poor performing parastatals
- To encourage healthy competition among the businesses into the country
- To improve on the management in the running of the businesses
- To deal with the problem of corruption, misuse of funds and mismanagement of resources in parastatals
- Increased private sector participation
marto answered the question on September 25, 2019 at 09:30
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The capital of Kimosop traders on 1st January 2018 was shs. 85,000. During the year, additional investments of shs.50,000 and drawings of shs.60,000 were made....
(Solved)
The capital of Kimosop traders on 1st January 2018 was shs. 85,000. During the year, additional investments of shs.50,000 and drawings of shs.60,000 were made. The capital as at 31st Dec 2018 was 65,000. Calculate Kimosop trader’s profits or loss
Date posted:
September 25, 2019
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Answers (1)
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Outline four reasons that may have led to the change in quantities demanded of commodity X in the market as shown in the schedule below
(Solved)
Outline four reasons that may have led to the change in quantities demanded of commodity X in the market as shown in the schedule below.
Date posted:
September 25, 2019
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Answers (1)
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Using a (+) for increase, (-) for decrease and (0) for no effect , indicate the effects of the following transactions on Assets , Liabilities,...
(Solved)
Using a (+) for increase, (-) for decrease and (0) for no effect , indicate the effects of the following transactions on Assets , Liabilities, Capital and the balance sheet totals
Date posted:
September 25, 2019
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Answers (1)
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State four reasons why parastatals have generally performed poorly in Kenya.
(Solved)
State four reasons why parastatals have generally performed poorly in Kenya.
Date posted:
September 25, 2019
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Answers (1)
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The conditions given below are for a monopoly firm or a firm operating under perfect competition. Write the correct market structure against each of the...
(Solved)
The conditions given below are for a monopoly firm or a firm operating under perfect competition. Write the correct market structure against each of the conditions.
a)Market structure determines price for the product
b)There is free entry and exit.
c)Product involved is homogeneous
Date posted:
September 25, 2019
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Answers (1)
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Outline four examples of open trade credit used in home trade.
(Solved)
Outline four examples of open trade credit used in home trade.
Date posted:
September 25, 2019
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Answers (1)
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The table below contains descriptions of some goods. Classify them as Consumer, Intermediate, Free goods or Capital goods.
(Solved)
The table below contains descriptions of some goods. Classify them as Consumer, Intermediate, Free goods or Capital goods.
Date posted:
September 25, 2019
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Answers (1)
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Highlight any four services offered by commercial banks to their clients.
(Solved)
Highlight any four services offered by commercial banks to their clients.
Date posted:
September 25, 2019
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Answers (1)
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Koech started a business dealing in ladies clothing ten years ago. His business has gradually been growing and making more profits. Outline four reasons that...
(Solved)
Koech started a business dealing in ladies clothing ten years ago. His business has gradually been growing and making more profits. Outline four reasons that may account to this.
Date posted:
September 25, 2019
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Answers (1)
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The capital A/C of Mbele Kabisa Traders showed a balance of shs 50,000 as at 1st July 2004. For the year ended June 2005 the...
(Solved)
The capital A/C of Mbele Kabisa Traders showed a balance of shs 50,000 as at 1st July 2004. For the year ended June 2005 the following information was available:
a)Proprietor brought in a personal car worth sh. 80 000 for business use.
b)Net profit amounted to sh. 64 000.
c)The proprietor withdrew sh. 32 000 cash for personal use.
Prepare the capital A/C as at 30th June 2005
Date posted:
September 25, 2019
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Answers (1)
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Prepare the balance sheet of Baraka Traders from the following list of balances extracted from his books as at 31st December 2005.
Machine 150 000
Motor vehicles 200...
(Solved)
Prepare the balance sheet of Baraka Traders from the following list of balances extracted from his books as at 31st December 2005.
Machine 150 000
Motor vehicles 200 000
Stock 40 000
Creditors 25 000
Loan from KCB 100 000
Bank 20 000
Furniture 7 000
Capital 292 000
Date posted:
September 25, 2019
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Answers (1)
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In the absence of a written partnership agreement, the provisions of the Partnership Act will apply. State four such provisions.
(Solved)
In the absence of a written partnership agreement, the provisions of the Partnership Act will apply. State four such provisions.
Date posted:
September 25, 2019
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Answers (1)
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Highlight four features of open air market traders.
(Solved)
Highlight four features of open air market traders.
Date posted:
September 25, 2019
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Answers (1)
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State four emotional qualities of an office worker.
(Solved)
State four emotional qualities of an office worker.
Date posted:
September 25, 2019
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Answers (1)
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Businesses should give something back to the communities in which they operate. State four parties that a business should show social responsibility to.
(Solved)
Businesses should give something back to the communities in which they operate. State four parties that a business should show social responsibility to.
Date posted:
September 25, 2019
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Answers (1)
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Highlight four factors that may cause changes in the population of an area.
(Solved)
Highlight four factors that may cause changes in the population of an area.
Date posted:
September 25, 2019
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Answers (1)
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Explain five factors that make indirect taxes preferable to direct taxes as a means of raising government revenue.
(Solved)
Explain five factors that make indirect taxes preferable to direct taxes as a means of raising government revenue.
Date posted:
September 25, 2019
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Answers (1)
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Explain the benefits of the new East African cooperation to Kenya.
(Solved)
Explain the benefits of the new East African cooperation to Kenya.
Date posted:
September 25, 2019
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Answers (1)
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Explain five roles of the Nairobi stock Exchanged market in the Kenyan economy.
(Solved)
Explain five roles of the Nairobi stock Exchanged market in the Kenyan economy.
Date posted:
September 25, 2019
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Answers (1)
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The following trial balance was extracted from the books of Bumala traders on 31st Dec 2011
Additional information;
(i)Stock as at 31st December 2011 shs 52,000
(ii)Rent...
(Solved)
The following trial balance was extracted from the books of Bumala traders on 31st Dec 2011
Additional information;
(i)Stock as at 31st December 2011 shs 52,000
(ii)Rent accrued shs. 6,000
(iii)Insurance paid in advanced sh.4,000
(iv)Commission due shs.5,000
(v)Salaries along shs.21,000
Required;
(a)Trading, profit and lost account for the year ended 31st December 2011.
(b)Balance sheet as at that date
Date posted:
September 25, 2019
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Answers (1)