August 27, 2021

VAT tribunal

(a) Write short notes on VAT tribunal. ( 10 marks) (b) To what extent are the partners responsible in respect to payments of VAT. ( 5 marks)
August 27, 2021

Terms as used in auditing

What is meant by the following terms as used in auditing: i. Cut off procedure? (5 marks) ii. Audit in depth? (5 marks)
August 27, 2021

Audit procedure

You are a senior member of the audit team at Grain Millers Ltd., a company whose business is milling maize, wheat and other products for local consumption. The annual turnover for the year ended 30 September 2002 amounted to Sh. 1.5 million and most of its sales were on credit. […]
August 27, 2021

Trendy Tyres Ltd. has introduced a new brand of tyres

Trendy Tyres Ltd. has introduced a new brand of tyres, which in their advertisements claim to be superior to their only competitor brand, the Roadmaster Tyres. The brand manager of Roadmaster Tyres disputes this claim which he says is an advertisement gimmick. The brand manager of the two companies agree […]
August 27, 2021

Paired t-test and the two-sample t-test

Explain the difference between the paired t-test and the two-sample t-test.
August 27, 2021

Unemployment

a) Define the term unemployment (2 marks) b) i) Discuss the main causes of unemployment (10 marks) ii) Suggest the possible measures that you would implement to contain unemployment problems in your country (8 marks)
August 27, 2021

Capital allowances for the company

A Forest Tree Fellers Ltd. commenced business on 1 January 2005. The following fixed assets of the company which it acquired prior to the commencement of the business were stated at their written down values as at 1 January 2005: Milling machine Fork lifts Tractors Lorries – 200 tones Packaging […]
August 27, 2021

Terms and state their effects on taxable income

Explain the meaning of the following terms and state their effects on taxable income. (i) Trading receipts. (ii) Balancing charge. (iii) Trading loss (iv) Balancing deduction.
August 27, 2021

Functions of internal audit department

You are the auditor of NN Supermarkets Limited across the country. The management has informed you that they intend to set up an internal audit function. Required: a) Identify and explain the function to be performed by the internal audit department in NN Supermarkets Limited. (8 marks) b) List four […]