Get premium membership and access revision papers with marking schemes, video lessons and live classes.
Form 4 Business Studies Mid Term 1 Examination 2023
Class: Form 4
Subject: Business Studies
Level: High School
Exam Category: Form 4 Mid Term Exams
Document Type: Pdf
Views: 766
Downloads: 16
Exam Summary
Name: …………………………………………………………… Adm no ………………
Date: ……………………………………………… Class ………………………………..
565
BUSINESS STUDIES
MID-TERM CAT
TIME: 1 HOUR 30MINS
FORM 4
Kenya Certificate of Secondary Education (K.C.S.E.)
Business Studies
INSTRUCTIONS TO CANDIDATES:
• Write your name and Adm Number in the spaces provided.
• Answer all the questions
• Candidates should check the question paper to ascertain that no questions are missing.
1. The following transactions relate to the books of Amina traders as at 31st December 2015.
Gross profit ............................................................................................. 20,000
Commission allowed .............................................................................. 200
Carriage on sales .................................................................................... 4,000
Discount received................................................................................... 8,000
Salaries.................................................................................................. 6,000
Rent........................................................................................................ 2,000
Discount revived .................................................................................... 400
Commission received............................................................................. 1,500
Interest on bank loan .............................................................................. 500
Prepare Amina’s profit and loss account for the period ended 31st December, 2015.
(5 marks)
2. The National Transport Safety Authority (NTSA) is a department within the transport sector in Kenya. Highlight four benefits Kenyans enjoy due to the establishment of NTSA (4 marks)
i)-------------------------------------------------------------------------------------------------------------------
ii)------------------------------------------------------------------------------------------------------------------
iii)-----------------------------------------------------------------------------------------------------------------
iv)-----------------------------------------------------------------------------------------------------------------
3. Outlinefour reasons why a firm would prefer to locate near the market of its products (4 marks)
i)-------------------------------------------------------------------------------------------------------------------
ii)------------------------------------------------------------------------------------------------------------------
iii)-----------------------------------------------------------------------------------------------------------------
iv)----------------------------------------------------------------------------------------------------------------
4. List three withdrawals in the circular flow of income (3 marks)
i)-------------------------------------------------------------------------------------------------------------------
ii)------------------------------------------------------------------------------------------------------------------
iii)-----------------------------------------------------------------------------------------------------------------
5. The following transactions relate to the books of kilimo holdings. Record them in the relevant ledger accounts. (4 marks)
(i) 1st January 2015, took a loan with ICDC of kshs. 50,000 receiving by cheque.
(ii) 5th January 2015, kelunyo, a debtor paid his account of kshs. 40,000 in cash.
(iii) 10th January 2015, took money from bank, kshs. 50,000 for office use
(IV) 12th January 2015, bought furniture kshs. 35,500 in cash
6. Unemployment solving has been an agenda to most developing economies. Identify the type of unemployment being solved below. (4 marks)
(i)Government initiating irrigation projects to ensure continuous production of food
....................................................................................................................................
(ii)Retraining teachers to embrace use of technology in teaching and learning
...................................................................................................................................
(iii)Government and private sectors inventing job advertisement sites for easy access by job seekers
....................................................................................................................................
(iv) Parliament passing legislation that accommodate the disabled people to acquire jobs
....................................................................................................................................
7. State four essentials of effective communication (4 marks)
i)-------------------------------------------------------------------------------------------------------------------
ii)------------------------------------------------------------------------------------------------------------------
iii)-----------------------------------------------------------------------------------------------------------------
iv)-----------------------------------------------------------------------------------------------------------------
8. Highlight four reasons why people engage in Business activities.(4marks)
i)-------------------------------------------------------------------------------------------------------------------
ii)------------------------------------------------------------------------------------------------------------------
iii)-----------------------------------------------------------------------------------------------------------------
iv)-----------------------------------------------------------------------------------------------------------------
9. Outline four characteristics of a good filing system (4mks)
i)-------------------------------------------------------------------------------------------------------------------
ii)------------------------------------------------------------------------------------------------------------------
iii)-----------------------------------------------------------------------------------------------------------------
iv)-----------------------------------------------------------------------------------------------------------------
10. Highlight four methods that Government uses to protect consumers. (4mks)
i)-------------------------------------------------------------------------------------------------------------------
ii)-----------------------------------------------------------------------------------------------------------------
iii)----------------------------------------------------------------------------------------------------------------
iv)-----------------------------------------------------------------------------------------------------------------
11.The following trial balance was extracted from the books of Mugoya Traders as at 30th June, 2014
Additional information
Stock of goods on 30th June, 2014 was worth sh22, 000.
Required: prepare trading, profit and loss account for the period ended 30th June, 2014. (10mks)
More Examination Papers