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
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).
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)
(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: