Briefly but clearly explain the following: (i) A markov chain (3 marks) (ii) The purpose of a markov chain (3 marks) (iii) When a markov chain should be used. (3 marks)

(a) Define the term capital allowances. ( 4 marks) (b) Cindera Enterprises is a partnership manufacturing timber pallets. The partners are L, M and N. The business has an account in the balance sheet entitled “Property”. The account had been used to record a variety of expenditures. At the end […]

The marketing manager of a company manufacturing detergents conducted a survey to assess customers response to new packaging recently introduced. She classified the customers according to gender and from a random sample of 300 customers, she got the following results. Preference New packaging Old packaging Undecided Male 27 14 92 […]

An accountant wishes to estimate the mean of accounts receivable. He takes a random sample of 10 accounts receivable and gets the following results in millions of shillings. 6,7,4,2,5,7,8,6,9,9,7,0,7,3,8,1,6,8,5,2. Required: Construct a 95% confidence interval of the true mean of accounts receivable. (Assume the accounts are normally distributed). (10 marks)

Write brief explanatory notes on the following audit terms: a) Control procedures; (4 marks) b) Internal check; (4 marks) c) Vouching audit; (4 marks) d) Walk-through tests; (4 marks) e) Weakness tests; (4 marks)

Paper details: A: Identifying, explaining and illustrating managerial or organisational responses to a contemporary business management issue and challenges, how these impact on organisations and managerial practice, i): 1) Identify a contemporary management issue of business signicance; describe, and explore how this poses challenges for managing individuals and organizations in […]

To obtain revenue to support the funding of public educational programmes in a city, the Parents and Teachers Association (PTA) proposes the establishment of a City Football Lottery Programme (CFLP). The programme is to be conducted on weekly basis for each of the 16 weeks which are played by the […]

a) Explain the value derived from the work of external auditors. (5 marks) b) Outline the statutory provisions with regard to duties of external auditors. (7 marks)

The following balances are extracted from the books of Wendani Limited for the year ended 30 April 2006. Sh. Share capital: 3,000,000 ordinary shares (fully paid) 800 8% redeemable preference shares Share premium account General reserves Preference share redemption Block capital (at cost less depreciation) Net profit for the year […]