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THE UNITED REPUBLIC OF TANZANIA NATIONAL EXAMINATIONS COUNCIL
CERTIFICATE OF SECONDARY EDUCATION EXAMINATION
(For Both School and Private Candidates)
Time: 2:30 Hours Friday, 11th November 2011 p.m.
This paper consists of sections A, B and C.
Answer all questions in sections A and B and two (2) questions from section C.
Calculators and cellular phones are not allowed in the examination room.
Write your Examination Number on every page of your answer booklet(s).
SECTION A (20 Marks)
Answer all questions in this section.
1. For each of the items (i) (x) choose the correct answer from among the given alternatives and write its letter beside the item number.
(i) Variable cost is that which varies with:
(ii) One method of discouraging imports is to:
(iii) Which of the following documents govern the companys relationship with the outside world?
(iv) The surrender value of a life assurance policy is:
(v) There is a derived demand for a commodity or service when it is demanded:
(vi) A nominal partner is the one who:
(vii) The production process of goods is said to create utility if the:
(viii) One among the following is NOT a function of the Bank of Tanzania (BoT):
(ix) In a progressive taxation system:
(x) Which of the following is a feature of a del-credere agent?
2. 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
(ii) The long term liabilities
(iii) The excess of current assets over current liabilities
(iv) The sum of fixed assets and working capital
(v) The maximum amount a company raises by selling shares
(vi) The amount that the shareholders have been asked to pay
(vii) The amount that has actually been received from shareholders
(viii) The total face value of the shares that have been issued
(ix) The amount stated by the promoters when making application for registration of the company
(x) The amount spent on buying or adding value to non-current assets.
3. Given the daily sales 40 tins, delivery time 28 days and minimum stock 1600 cartons.
(a)Calculate the re-order level
(b) Briefly explain what it means by your answer in 3(a) above.
(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.
(d) Outline four different features of Current Account from Fixed Deposit Account.
4. Briefly explain the following terms:-
(a) Letter of hypothecation
(b) Trade discount
(c) Composite demand
(e) Multiple shops
5. Distinguish the following terms as used in home trade:-
(a) Deferred Payment and Hire Purchase
(b) Advice Note and Packing Note
(c) Primary Industries and Secondary Industries
(d) Inquiry and Quotation
(e) Cash discount and Quantity discount
6. Explain the functions of management.
7. (a) Elaborate five (5) principles of co-operatives.
(b) Explain five (5) principles of insurance.
8. (a) Explain five (5) features of partnership.
(b) Explain five (5) advantages of partnership as compared to sole proprietorship.
9. (a) Describe six (6) factors that are responsible for changes in demand for a commodity.
(b) Explain briefly the effects of a rise in the price of coffee on the demand for:
(c) (i) Explain how Equilibrium Price occurs.
(ii) With the aid of a diagram illustrate the Equilibrium Price
10. (a) With particular reference to Tanzania, discuss the importance of road transport to Commerce.
(b) What is meant by Marginal Cost?
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