Question 1
State four communication room equipment
Answer
(a) Telephone
(b) Telephone answering machine
(c) Telex machine/ telex printer
(d) Computers for sending or receiving emails
(b) Telephone answering machine
(c) Telex machine/ telex printer
(d) Computers for sending or receiving emails
Question 2
Classify the following accounts as either personal, impersonal or private
(a) Furniture account
(b) Drawings account
(c) Owino’s account
(d) Rent income account
Answer
(a) Furniture account - Impersonal
(b) Drawings account - Private
(c) Owino’s account - Personal
(d) Rent income account – Impersonal
(b) Drawings account - Private
(c) Owino’s account - Personal
(d) Rent income account – Impersonal
Question 3
State any four clauses that are contained in a memorandum of association
Answer
(a) Name clause
(b) Object clause
(c) Capital clause
(d) Declaration clause
(b) Object clause
(c) Capital clause
(d) Declaration clause
Question 4
Outline four means of payment used by commercial banks to transfer money
Answer
(a) Standing orders
(b) Credit transfer
(c) Cheques
(d) Electronic fund transfer
(b) Credit transfer
(c) Cheques
(d) Electronic fund transfer
Question 5
Mention four features which qualify food as a primary want
Answer
(a) Cannot be postponed.
(b) Required for survival.
(c) It is a felt need.
(d) Satisfied first before secondary want.
(b) Required for survival.
(c) It is a felt need.
(d) Satisfied first before secondary want.