a) Why is an external audit necessary for companies registered under the Companies Act? Explain (5 marks) b) Under what circumstances is one ineligible for appointment as an auditor of a company? Discusss (10 marks)

The revenue of Better Option Pink Mobile Phone Company is related to advertising (a) and phones sold (q). Specifically, the relationship can be expressed as: R = q2 + 3qa + a2 However, the budget constrain on advertising and production is given by q + a = 100. Required: (i) […]

ABC Manufacturers Ltd. produces spare part for motor vehicles. The demand for this spare part is given by; d = 15 – 0.5p; where d = demand and p = price. Required: (i) Explain clearly why the coefficient of the price is negative. (2 marks) (ii) Determine the total revenue […]

The break-even point is that level of output at which revenue equals cost. Required: Graphically show the break-even point using the cost, revenue and profit functions.

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 […]