Paper details: – You must use examples of how people use humor to connect/understand others. + There are many differences between Asian humor and Western humor. But there is one thing in common: Humor connects people to people, no matter who you are, where you live, what color your skin […]

Consider an economic system which has n different sectors, each of which produces one commodity. The product of one sector is being consumed by other sectors and also there is the final demand for each product produced. Required: (i) Represent the above information in a tabular form. (ii) Derive a […]

(a) State the law of diminishing marginal utility (3 marks) (b) If Mrs Breader views butter and margarine as perfect substitutes, draw a set of indifference curves that describe her preference for these two commodities ( 7 marks)

You have received a request form XYZ Ltd. to accept an appointment as their auditor for the financial year ending 31 December 2001. Required: a) Explain the preliminary procedures you would carry out upon your appointment. (6 marks) b) What is the importance of a preliminary review? (4 marks) c) […]

In a recent research survey by Intelligence Consultants on the use of the services of auditing firms by various Non Governmental Organisations (NGOs) in Kenya, the findings were as follows: Out of those NGOs which used P & M Auditors in 2001 financial year, 10% switched to D & T […]

Using the cardinalist approach of consumer behaviour, distinguish between income and substitution effects of a price rise for a normal good (10 marks)

Central and Eastern Industries is planning to introduce a new mobile phone service. To do so, the following activities are necessary: Activity Preceding Activity Expected Time (weeks) Standard Deviation (weeks) A – 6 1.0 B – 3 0.5 C A 5 1.0 D A 4 1.0 E A 3 0.5 […]

You have been appointed the auditor of United Millers Company Limited, a medium manufacturing company which is quoted on the stock exchange. Required: a) List the important matters which must be included in the letter of engagement. (14 marks) b) Explain the purpose of such a letter. (6 marks)

A charity is about to launch an appeal for a children’s ward in a national hospital and has to choose between the following fund raising strategies. Strategy I involves an initial appeal outlay of Sh. 40,000 and administrative costs of 5 cents for each Sh. 1.00 collected. Strategy II has […]