The number of shoppers queuing at any given time in a certain supermarket downtown Miami can be approximately represented by the equation: y = x3 – 14×2 + 50x over the range 0 ≤ x ≤ 8.5, where y is the number queuing and x is the time in hours […]

Distinguish between tax evasion and tax avoidance. Discuss

The external auditors of companies often write to companies’ bankers asking for details of bank balances and other matters at the year-end. Required: Explain why auditors write to companies’ bankers and list the matters you would expect banks to confirm.

Explain the four different methods or approaches for organizing and displaying project information.

A book-selling company has a head office and 25 shops, each of which holds cash (banknotes, coins, and credit card vouchers) at the balance sheet date. There are no receivables. Accounting records are held at shops. Shops make returns to head office and head office holds its own accounting records. […]

A small construction project involves the following activities: Normal Crash Activity Time (days) Cost (Sh.) Time (days) Cost (Sh.) 1-2 1-3 2-4 3-4 3-5 4-5 Clear ground Lay foundation Build walls Roofing and piping Painting Landscaping 6 5 3 7 4 2 60,000 30,000 10,000 40,000 20,000 10,000 5 3 […]

Explain the following terms as used in decision analysis. (a) decision making under risk versus uncertainty. (4 marks) (b) decision trees versus probability trees (4 marks) (c) minimax versus maximax criterion (4 marks) (d) pure strategy versus mixed strategy games (4 marks) (e) games with more than two person versus […]

A small company will be introducing a new line of lightweight bicycle frames to be made from special aluminum alloy and steel alloy. The frames will be produced in two models, deluxe and professional. The anticipated unit profits are currently Sh. 1,000 for a deluxe frame and Sh. 1,500 for […]

Internal control systems are designed, amongst other things, to prevent error and misappropriation. Required: Describe the errors and misappropriations that may occur if the following are not properly controlled: (i) Receipts paid into bank accounts; (2 marks) (ii) Payments made out of bank accounts; (3 marks) (iii) Interest and charges […]