CSEE
Commerce · Paper 1 · 2011
19 questions 🇹🇿 NECTA ✓ Official NECTA answers
CSEE
🇹🇿 NECTA
✓ Official NECTA answers
Commerce · Paper 1 · 2011
19 questions
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Questions (19)
Section A
1.
2 marks
Variable cost is that which varies with:
A.
technology
B.
output
C.
input
D.
position
E.
time
Section B
2.
6 marks
Match the items in Column A with the responses in Column B by writing the letter of the correct response beside the item number.
(i)
The amount of money a business is liable to its investor
1 mk
(ii)
The long term liabilities
1 mk
(iii)
The excess of current assets over current liabilities
1 mk
(iv)
The sum of fixed assets and working capital
1 mk
(v)
The maximum amount a company raises by selling shares
1 mk
(vi)
The amount that the shareholders have been asked to pay
1 mk
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3.
0 marks
Given the daily sales 40 tins, delivery time 28 days, and minimum stock 1600 cartons.
(a)
Calculate the re-order level.
0 mk
(b)
Briefly explain what it means by your answer in 3(a) above.
0 mk
(c)
As the price of mangoes increased from Shs. 400/- to Shs. 600/-, the quantity consumed by a family decreased from 40 to 30 per month. Calculate the price elasticity of demand.
0 mk
(d)
Outline four different features of Current Account from Fixed Deposit Account.
0 mk
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4.
0 marks
Briefly explain the following terms:
(a)
Letter of hypothecation
0 mk
(b)
Trade discount
0 mk
(c)
Composite demand
0 mk
(d)
Overdraft
0 mk
(e)
Multiple shops
0 mk
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5.
0 marks
Distinguish the following terms as used in home trade:
(i)
The amount of money a business is liable to its investor
1 mk
(a)
Deferred Payment and Hire Purchase
0 mk
(ii)
The long term liabilities
1 mk
(b)
Advice Note and Packing Note
0 mk
(iii)
The excess of current assets over current liabilities
1 mk
(c)
Primary Industries and Secondary Industries
0 mk
(d)
Inquiry and Quotation
0 mk
(iv)
The sum of fixed assets and working capital
1 mk
(e)
Cash discount and Quantity discount
0 mk
(v)
The maximum amount a company raises by selling shares
1 mk
(vi)
The amount that the shareholders have been asked to pay
1 mk
(vii)
The amount that has actually been received from shareholders
1 mk
((viii)
The total face value of the shares that have been issued
1 mk
(ix)
The amount stated by the promoters when making application for registration of the company
1 mk
(x)
The amount spent on buying or adding value to non-current assets
1 mk
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6.
0 marks
Explain the functions of management.
(none)
Explain the functions of management.
10 mk
(a)
Calculate the re-order level.
3 mk
(b)
Briefly explain what it means by your answer in 3(a) above.
2 mk
(c)
As the price of mangoes increased from Shs. 400/- to Shs. 600/-, the quantity consumed by a family decreased from 40 to 30 per month. Calculate the price elasticity of demand.
5 mk
(d)
Outline four different features of Current Account from Fixed Deposit Account.
5 mk
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Section C
7.
0 marks
(a)
Elaborate five (5) principles of co-operatives.
0 mk
(a)
Letter of hypothecation
2 mk
(b)
Trade discount
2 mk
(b)
Explain five (5) principles of insurance.
0 mk
(c)
Composite demand
2 mk
(d)
Overdraft
2 mk
(e)
Multiple shops
2 mk
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8.
0 marks
(a)
Explain five (5) features of partnership.
0 mk
(a)
Distinguish Deferred Payment and Hire Purchase
5 mk
(b)
Distinguish Advice Note and Packing Note
5 mk
(b)
Explain five (5) advantages of partnership as compared to sole proprietorship.
0 mk
(c)
Distinguish Primary Industries and Secondary Industries
5 mk
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9.
0 marks
Explain briefly the effects of a rise in the price of coffee on the demand for:
(a)
Describe six (6) factors that are responsible for changes in demand for a commodity.
0 mk
(b)
i. Tea leaves
ii. Sugar
0 mk
(c)
i. Explain how Equilibrium Price occurs.
ii. With the aid of a diagram illustrate the Equilibrium Price.
0 mk
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10.
0 marks
What is meant by Marginal Cost?
(a)
With particular reference to Tanzania, discuss the importance of road transport to Commerce.
0 mk
(b)
What is meant by Marginal Cost?
0 mk
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