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BUSINESS STUDIES PAPER 2 - 2017 MURANG'A MOCK EXAMINATION

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  1.  
    1. Explain five functions of money (10mks)
    2. Differentiate between a public limited company and a partnership (10mks)
  2.  
    1. Explain five principles that guide the tax system in a country (10mks)
    2. Labour is one of the basic factors of production. Outline five measures that a business can take to increase the productivity of its labour force (10mks)
  3.  
    1. With the aid of a diagram, explain the effects of an increase in supply on equilibrium price and quantity of a commodity (10mks)
    2. Discuss five causes of unfavourable balance of payment for most developing countries (10mks)
  4.  
    1. Explain five factors that influence the choice of a channel for distributing flowers (10mks)
    2. Explain five circumstances that would influence a producer to use wholesalers in distributing farm produce (10mks)
  5. The following balances relate to Msafiri traders as at 31st December 2014
        Sh
     Purchases  900,000
     Stock 1.1.2014  230,000
     Buildings  1,200,000
     Motor Vehicles  750,000
     Returns outwards  50,000
     Debtors  190,000
     Creditors  310,000
     Loan from IDB  600,000
     Cash  130,000
     Bank  270,000
     Drawings  100,000
     Capital  1,840,000
     Net profit  170,000
    Additional information
    1. Stock 31/12/14 280,000
    2. Expenses (including carriage inwards Shs. 150,000) 250,000
      Required
      1. Balance sheet as at 31st December 2014 (6mks)
      2. Calculate
        1. Mark-up percentage (5mks)
        2. Return on capital employed (2mks)
      3. Explain five problems associated with a sole proprietorship form of a business (10mks)
  6.  
    1. Businesses are adopting new technology in their operations. Explain five limitations of adoption of this practice  (10mks)
    2.  The following balance sheet was extracted from the books of Sagana traders on 1st April 2015
      p2 q6b
      The following transactions took place during the month of April 2015
      4th April: Sagan traders sold her personal assets for sh. 30,000 receiving payment by cheque which she invested in the business
      10th: She purchased goods for sh. 29, 000 on credit from Mutai
      19th April: She returned goods worth sh. 3,000 to Mutai after they were found defective.

      Required
      1. Open the ledger accounts record the above transactions and balance them off.
      2. Extract a trial balance            (10mks)                                                                      
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Published in 2017 MURANG'A MOCK EXAMINATIONS

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