THE UNITED REPUBLIC OF TANZANIA NATIONAL EXAMINATIONS COUNCIL OF TANZANIA ADVANCED CERTIFICATE OF SECONDARY EDUCATION EXAMINATION

152/2 COMMERCE 2

(For Both School and Private Candidates)

Time: 3 Hours Year: 2016

Instructions

1. This paper consists of seven (8) questions.

2. Answer five (5) questions. Question one (1) is compulsory.

3. Each question carries twenty (20) marks.

4. Communication devices and any unauthorised materials are not allowed in the examination room.

5. Write your Examination Number on every page of your answer booklet(s).

SECTION A

1. Mashaka, Mawazo and Majuto have been in a partnership business for a year, but they did not prepare the partnership agreement before starting their business. What do the provision of Partnership Act state in relation to this situation? (Give ten (10) points)

2. (a) Describe five (5) merits of marketing research as a marketing function.

(b) Analyze five (5) problems facing marketing boards in developing countries.

3. (a) Explain seven (7) limitations of international trade.

(b) Outline three (3) functions of a bill of lading.

4. (a) Identify four (4) main differences between sales and agreement to sell.

(b) Examine six (6) remedies for the breach of a contract.

5. (a) Explain four (4) main forms of business capital.

(b) Identify two (2) sources of finance that come from within the business firm itself.

(c) Tunambi's business has a rate of inventory turnover of 8 times per year. His average inventory was Tshs. 3,248,000. The mark-up was 50 percent and the expenses of his business were 60 percent of the gross profit. Calculate the following:

(i) Cost of goods sold

(ii) Gross profit

(iii) Turnover

(iv) Total expenses

(v) Net profit

6. (a) Explain the following:

(i) Organization chart

(ii) the main types of organization chart

(iii) three (3) advantages and two (2) disadvantages of an organization chart

(b)Explain two (2) principles of delegation of authority

7. (a) Identify five (5) objectives of consumerism.

(b) Describe five (5) legislative measures available to safeguard consumers in Tanzania.

8. (a) What is incidence of taxation? Describe three main systems of taxation.

(b) Explain six (6) limitations of direct taxes.