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CSEE

Commerce · Paper 1 · 2008

14 questions 🇹🇿 NECTA ✓ Official NECTA answers

CSEE 🇹🇿 NECTA ✓ Official NECTA answers

Commerce · Paper 1 · 2008

14 questions

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Questions (14)

Section A

2. 1 mark

Which one of the following is not correct about the functions of management?

A. Sound policy

B. Planning

C. Organizing

D. Staffing

E. Control

Section B

1. 10 marks

Match the items in List A with the responses in List B by writing the letter of the correct response beside the item number.

LIST A

LIST B

A. Unity of command

(i) Is the reward for capital

B. Indirect taxation

(ii) The import and export of intangible items

C. Inferior goods

(iii) The process whereby the demand for the products of a business enterprise is created

D. Average stock

(iv) An event against which an insurance policy is taken out.

E. Marine insurance

(v) Is one for which an increase in income leads to a decrease in the amount demanded, other things being equal

F. Visible trade

(vi) In management whereby one employee is answerable to one supervisor only

G. Invisible trade

(vii) The quantity of a certain supply that should always be in stock to safeguard sales against unforeseen delays in delivery

H. Unity of objectives

(viii) Enables those with small incomes to be reached

I. Standing order

(ix) Refers mainly to insurance of ships and goods in ships

J. Sales

(x) Is an instruction to a bank to pay a specified sum of money to a named person at regular interval

K. Normal goods

L. Sales promotion

M. Loss

N. Interest

O. Profit

Show all 20 rows

P. Shipping insurance
Q. Minimum stock
R. Credit taxation
S. Direct taxation
T. Risk

(i) Is the reward for capital 1 mk

(ii) The import and export of intangible items 1 mk

(iii) The process whereby the demand for the products of a business enterprise is created 1 mk

(iv) An event against which an insurance policy is taken out. 1 mk

(v) Is one for which an increase in income leads to a decrease in the amount demanded, other things being equal 1 mk

(vi) In management whereby one employee is answerable to one supervisor only 1 mk

(vii) The quantity of a certain supply that should always be in stock to safeguard sales against unforeseen delays in delivery 1 mk

((viii) Enables those with small incomes to be reached 1 mk

(ix) Refers mainly to insurance of ships and goods in ships 1 mk

(x) Is an instruction to a bank to pay a specified sum of money to a named person at regular interval 1 mk

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3. 0 marks

K. Buta had an opening stock of Shs. 20,000/= and a closing stock of Shs. 25,000/=. His net purchases for the year amounted to Shs. and a 40% mark up is applied. His expense for the year was Shs. 28,600/= Find the:

(a) cost price 0 mk

(b) gross profit 0 mk

(d) net profit 0 mk

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4. 0 marks

Anita and Beatrice were travelling from Iringa to Dar es Salaam using Beatrice's car which is insured. When they reached Kibaha their car was involved in an accident and it was badly damaged. Anita decided to go to the National Insurance Company to ask for compensation. The company didn't agree to give compensation for the car.

(a) Why did the company refuse to compensate Anita's claim? 0 mk

(b) Which principle of insurance was applied by the company? 0 mk

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5. 0 marks

The price of commodity "x" changed from Shs. 6/= to Shs. 7/=, resulting in a change of the quantity supplied from 200kg to 250kg.

(a) Calculate elasticity of supply. 0 mk

(b) Is the supply elastic, equal to unit, or inelastic? 0 mk

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6. 0 marks

The following are data from Income Tax Department: Individual income: 30,000 45,000 50,000 60,000 30,000 50,000 Tax payable: 4,500 6,750 7,500 9,000 4,500 7,500

(a) Define tax. 0 mk

(i) Calculate the % rate of tax. 0 mk

(b(i)) Calculate the % rate of tax. 3 mk

(ii) Illustrate by graph and identify the system of taxation used. 0 mk

(b(ii)) Illustrate by graph and identify the system of taxation used. 5 mk

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Section C

7. 0 marks

(a) Define money. 0 mk

(b) State four (4) functions of money. 0 mk

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8. 0 marks

Outline five (5) advantages and five (5) disadvantages of air transport.

(advan) Outline five (5) advantages of air transport. 5 mk

(disad) Outline five (5) disadvantages of air transport. 5 mk

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9. 0 marks

Describe five (5) basic principles of a good tax system.

(1) Describe the principle of equity/fairness. 2 mk

(2) Describe the principle of certainty. 2 mk

(3) Describe the principle of convenience. 2 mk

(4) Describe the principle of economy. 2 mk

(5) Describe the principle of efficiency/productivity. 2 mk

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10. 0 marks

Why does a country decide to regulate or restrict the volume of foreign trade? Give five (5) reasons.

(1) Reason 1 for regulating foreign trade. 2 mk

(2) Reason 2 for regulating foreign trade. 2 mk

(3) Reason 3 for regulating foreign trade. 2 mk

(4) Reason 4 for regulating foreign trade. 2 mk

(5) Reason 5 for regulating foreign trade. 2 mk

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