END OF TERM 3 EXAMINATION 2022
BUSINESS STUDIES PAPER ONE
TIME.2hrs
NAME………………………………..………………ADM ……….… CLASS …………
1 a) Outline four reasons why organizations need to safe keep documents in files (4mks)
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2.Give the four components of business studies (4mks)
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3.A business is expected to be socially responsible to various groups such as customers, employees, government, public and suppliers. Indicate against each statement the most appropriate group (5mks)
Statement | Group |
i)Fair remuneration | |
ii)Timely tax returns | |
iii)Fairness in tender allocation | |
iv)Equal job opportunities | |
Quality products |
4.Use the table below to outline four differences between basic wants and secondary wants
(4mks)
Basic wants | Secondary wants |
5.Identify three activities in the extractive level of production (4mks)
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6.Outlinefour ways in which partners may be classified (4mks)
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7.Highlight four characteristics of mail order store (4mks)
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8.Outline the meaning of the following terms as used in accounting (4mks)
i)Network of a business ……………………………………………………………………………………..
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ii)Business transaction ……………………………………………………………………………………..
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iii)Cash transaction ……………………………………………………………………………………..
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vi)Credit transaction ……………………………………………………………………………………..
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9.Statefour main factors that may limit the level of a country’s national income. (4mks)
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10.Identify four ways in which a business may be of benefit to people in the surrounding area (4mks)
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11.State the effect of each of the following transaction on the balance sheet by writing increase or decrease or no effect in each case
Transaction | Effect |
a)Bought machinery on credit | |
b)withdrew cash from the business for personal use | |
c)Purchased stock in cash | |
d)Paid outstanding by cheque |
12.State four ways of increasing efficiency and effectiveness of human porterage
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13.The following information relates to Makuyu Traders. Determine the missing figures. (3mks)
Assets | Liabilities | Capital | |
a) | 50000 | 70000 | |
b) | 320000 | 280000 | |
c) | 14360 | 12000 |
14.Post the following transactions in the ledger books of Embakasi traders (4mks)
March 1/2013 commenced business with sh. 150,000 cash at bank
March 5/2013 bought machinery in credit for sh. 9500
March 7/2013 withdrew sh 5000 from bank for office use
March 8/2013 paid sh 3000 cash to creditor
15.Give four reasons that make insurance companies decline to insure acts of nature (4mks)
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16.Name 4 sources of business ideas. (4mks)
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17.State 4 office etiquette of a business person. (4mks)
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18.Mention four main types of demand. (4mks)
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20.Name 4 methods of government involvement in business (4mks)
…………………………………………………………………………………………………………………………………………………………………..;………………………………………………………………………………………………………………………………………………………………………………………….
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21.Name 4 types of public utilities. (4mks)
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22.Name 4 barriers of effective communication. (4mks)
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23.Name 4 types of life assurance contracts (4mks)
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24.Name 4 characteristic of a good filing system. (4mks)
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25.Give 4 characteristics of oligopoly market structure. (4mks)
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