{"id":128,"date":"2023-04-01T12:03:58","date_gmt":"2023-04-01T12:03:58","guid":{"rendered":"http:\/\/localhost\/solvefor2\/?p=128"},"modified":"2023-04-01T11:51:18","modified_gmt":"2023-04-01T11:51:18","slug":"entrepreneurship-education-paper-2-mukono-examinations-council","status":"publish","type":"post","link":"https:\/\/edu.co.tz\/notes\/entrepreneurship-education-paper-2-mukono-examinations-council\/","title":{"rendered":"ENTREPRENEURSHIP EDUCATION Paper 2 MUKONO EXAMINATIONS COUNCIL"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>P230\/2<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>ENTREPRENEURSHIP<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>EDUCATION<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Paper 2<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Jul\/Aug 2016<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>3 Hours<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: center\"><img decoding=\"async\" align=\"left\" src=\"http:\/\/localhost\/solvefor2\/assets\/images\/kev3\/042122_1502_ENTREPRENEU1.png\" alt=\"\"\/><span style=\"font-family:Calibri Light; font-size:12pt\"><strong><br \/>\n\t\t\t<\/strong><\/span><\/p>\n<p style=\"text-align: center\">\n\u00a0<\/p>\n<p style=\"text-align: center\">\n\u00a0<\/p>\n<p style=\"text-align: center\">\n\u00a0<\/p>\n<p style=\"text-align: center\">\n\u00a0<\/p>\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>MUKONO EXAMINATIONS COUNCIL<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Uganda Advanced Certificate of Education<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>ENTREPRENEURSHIP EDUCATION<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\">Paper 2<br \/>\n<\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>3 Hours<br \/>\n<\/strong><\/span><\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>INSTRUCTIONS TO CANDIDATES<br \/>\n<\/strong><\/span><\/p>\n<ul>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><em>Answer <strong>four <\/strong>questions only.<br \/>\n<\/em><\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><em>All questions carry equal marks.<br \/>\n<\/em><\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><em>Any additional question(s) answered will <strong>NOT <\/strong>be marked.<br \/>\n<\/em><\/span><\/div>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">You intend to start a carpentry workshop in your home town.<br \/>\n<\/span><\/div>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">(i) State the mission statement of the business. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(02marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">(ii) Give the general description of the business. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(05marks)<br \/>\n<\/em><\/strong><\/span><\/p>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Prepare the administration plan of your proposed business. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Draw a programme for purchasing business inputs. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Formulate guidelines for promoting creativity among the workers in your project.<br \/>\n<\/span><\/div>\n<p style=\"text-align: justify; margin-left: 324pt\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<\/li>\n<\/ol>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Babu Enterprises plans to start a business, has availed you with the following projections for the months of January, February and March 2017.<br \/>\n<\/span><\/div>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cash in hand shs 1,500,000 as at 1<sup>st<\/sup> January 2017.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cash sales shs 1,860,000, shs 1,395,000 and shs 930,000 for January, February and March respectively.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Loan from SEROSACCO shs 1,450,000 in January.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Receipts from debtors shs 890,000 in February and shs 925,000 in March.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cash purchases of shs 720,000, shs 480,000 and 240,000 for January, February and March respectively.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Monthly direct wages are expected to be shs 48,000. A decrease of 10% is expected in the month of February.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Electricity shs 30,000 per month.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Selling expenses are estimated to be shs 20,000 and shs 15,000 for January and march respectively.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Taxes shs 226,900 to be paid in the month of March 2017.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Administrative expenses are expected to amount to shs 60,000 per month. An increase of 5% every month is expected after the 1<sup>st<\/sup> month.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cash purchase of assets shs 2,900,000 in January.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Credit purchases shs 250,000 in February, to be paid for in the following month.<br \/>\n<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">A cash deficit is off-set by getting a loan in the following month.<br \/>\n<\/span><\/div>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Required<br \/>\n<\/strong><\/span><\/p>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Prepare a cash Flow statement for Babu Enterprises for the period of January to March 2017. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(20marks)<\/em><\/strong><br \/>\n\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Suggest to Babu Enterprises ways of managing cash short falls in the cash flow statement. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(05marks)<\/em><\/strong><br \/>\n\t\t\t\t<\/span><\/div>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<\/li>\n<\/ol>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">You are operating shoe-making factory in an urban centre. You even make products on special orders.<br \/>\n<\/span><\/div>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Design a work-order form for the business. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Formulate policy guidelines for motivating business employees. \u00a0\u00a0\u00a0\u00a0<strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Present a programme for taking out an insurance policy. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(07marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Write an invoice to a customer whom you have supplied products on credit worth shs 1,000,000. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<\/li>\n<\/ol>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">You are the Human Resource Manager of a bakery located in a populated town centre. You have identified the need to train the workers for increased output at minimum costs.<br \/>\n<\/span><\/div>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Write a notice inviting all workers to a one day training workshop. \u00a0\u00a0\u00a0\u00a0<strong><em>(05marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Prepare a one week training programme for the workers. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Develop guidelines to be followed to minimize costs of production.\u00a0\u00a0\u00a0\u00a0<strong><em> (08marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Design a job advertisement for the post of marketing agent of the business.<br \/>\n<\/span><\/div>\n<p style=\"text-align: justify; margin-left: 324pt\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<\/li>\n<\/ol>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">The following information relates to UNIQUE TRADERS LTD for the year 2015.<br \/>\n<\/span><\/div>\n<\/li>\n<\/ol>\n<div style=\"margin-left: 18pt\">\n<table style=\"border-collapse:collapse\" border=\"0\">\n<colgroup>\n<col style=\"width:307px\"\/>\n<col style=\"width:216px\"\/><\/colgroup>\n<tbody valign=\"top\">\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  solid 0.5pt; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Details <\/strong><\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  solid 0.5pt; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Shs (000)<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Bank <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">12,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Cash <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">18,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">capital<\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">157,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Opening inventory <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">10,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Furniture <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">30,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Bad debts written off <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">4,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Machinery <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">15,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Accounts receivable <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">20,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Returns inwards <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">2,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Purchases discount <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">33,300<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Carriage on sales <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">1,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Purchases <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">75,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Sales <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">90,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Accounts payable <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">13,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Returns outwards <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">4,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Carriage inwards <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">1,500<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Bad debts recovered <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">8,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Sales discount <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">2,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Closing inventory <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">1,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  solid 0.5pt; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p><span style=\"font-family:Calibri Light; font-size:12pt\">Bank overdraft <\/span><\/p>\n<\/td>\n<td style=\"padding-left: 7px; padding-right: 7px; border-top:  none; border-left:  none; border-bottom:  solid 0.5pt; border-right:  solid 0.5pt\">\n<p style=\"text-align: right\"><span style=\"font-family:Calibri Light; font-size:12pt\">2,000<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong>Required:<br \/>\n<\/strong><\/span><\/p>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Compute the;<br \/>\n<\/span><\/div>\n<ol style=\"margin-left: 54pt\">\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Average stock \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(02marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cost of sales \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(02marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Gross profit \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(02marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Net profit \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(03marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<\/ol>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Calculate the following ratios;<br \/>\n<\/span><\/div>\n<ol style=\"margin-left: 54pt\">\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cash ratio \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(03marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Net profit to sales \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(03marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Rate of return on capital employed \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(03marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Stock turnover \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(03marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<\/ol>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Interprete the following ratios in relation to 5(b) above.<br \/>\n<\/span><\/div>\n<ol style=\"margin-left: 54pt\">\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Cash ratio \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(02marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Net profit to sales \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong><em>(02marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">You are operating a Hardware shop along a busy street. Your store keeper is disorganized and inefficient.<br \/>\n<\/span><\/div>\n<ol>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Write a termination letter to the store keeper. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0     <strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Design a stock card for use in the business. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0     <strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Prepare policy guidelines for ensuring proper inventory management. <strong><em>(07marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<li>\n<div style=\"text-align: justify\"><span style=\"font-family:Calibri Light; font-size:12pt\">Draft a daily work schedule to be followed by your employees. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0    <strong><em>(06marks)<\/em><\/strong><br \/>\n\t\t\t\t\t\t<\/span><\/div>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: justify\">\n\u00a0<\/p>\n<p style=\"text-align: center\"><span style=\"font-family:Calibri Light; font-size:12pt\"><strong><em>End &#8211; <\/em><\/strong><br \/>\n\t\t<\/span><\/p>\n<p style=\"text-align: justify; margin-left: 21pt\"><span style=\"font-family:Calibri Light; font-size:12pt\"><em><br \/>\n\t\t\t<\/em><\/span>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>P230\/2 ENTREPRENEURSHIP EDUCATION Paper 2 Jul\/Aug 2016 3 Hours \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 MUKONO EXAMINATIONS COUNCIL Uganda Advanced Certificate<\/p>\n","protected":false},"author":1,"featured_media":342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,1],"tags":[],"class_list":["post-128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entrepreneurship","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - 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