Get the Answers here Form 4 End Term 1 Exams 2023 Questions and Answers

1. (a) Explain five circumstances that can cause a business to succeed in their activities.    (10marks)

(b) Explain five problems facing the savings and credit cooperative societies in Kenya. (10marks)

• (a) A prudent tax system must meet certain essential qualities. Explain five indicators of a good tax system .                                                                                                                              (10marks)

(b) Describe the procedure an insured must take when making an insurance claim.         (10marks)

• (a) Ondari intends to promote his products. Explain five factors that he must take into account

when deciding on which method to use.                                                                       (10marks)

(b) Explain five weaknesses of using national income statistics as a measure of social welfare.

                                                                                                                                 (10marks)

• (a) Explain five factors that justify the existence of small scale firms in an economy.     (10marks)

(b) Bartenge Enterprises started business on 1^st May 2014 with Shs. 250,000 consisting of:

Cash at bank Shs.200,000, Cash in Hand Shs. 30,000 and Furniture Shs. 20,000.        

The following transactions took place during the month of May.

3^rd May 2014, Motor Van worth Shs. 85,000 and stock of Shs. 25,000 were bought on credit

6^th May 2014, more stock worth shs.10,000 was bought by cash

9^th May 2014, withdrew money from bank sh 50,000 for office use

15^th May 2014, Sold stock at cost to a customer on credit for shs. 18,500

19^th May 2014, received a cheque for the full settlement of a debt owed from the transaction

of 15^th may 2014

23^rd May 2014, paid Shs. 65,000 by cheque for the motor van bought earlier on credit

31^st May 2014, paid Shs. 20,000 cash for the stock bought on credit

Required:

Prepare the balance sheet of Bartenge Holdings as at 31^st May 2014.                              (10marks)

• (a) Explain five problems that are faced by a country with a big population of ageing persons.

                                                                                                                               (10marks)

(b) Explain fivedifference between banking and non-banking financial institutions .    (10marks)

• (a) Explain four reasons why upward communication should be encouraged in an organization.

                                                                                                                                (8marks)

• The following trial balance was extracted from the books of Lule Traders on 30^th April 2015

Lule Traders

Trial Balance

As at 30^th April 2015

Dr  (Kshs.)                   Cr (Kshs.)

Sales     186,000

Purchases               115,560

Stock 1.5.2014         37,760

Carriage outwards            3,260

Carriage inwards        2,340

Returns        4,400            3,550

Salaries                24,470

Electricity       6,640

Rent                                                         5,760

Sundry expenses                                    12,020

Equipment                                             24,000

Furniture                                                 6,000

Debtors                                                 45,770

Creditors                                                                                       30,450

Bank   38,760

Cash   1,200

Drawings          20,500

Capital      128,440

348.440     348,440

Stock as at 30.4. 2015      Shs. 49,980

Required:

1. Trading, profit and Loss account for the year ended 30^th April 2015    (8mks)
2. Balance sheet as at 30^th April 2015           (4mks)