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THE
STRUCTURE OF BUSINESS
Instructions to candidates:
a) Time
allowed: Three hours (plus an extra ten minutes’ reading time at the start – do
not write anything during this time)
b)
Answer any FOUR questions
c) All
questions carry equal marks. Marks for each question are shown in [ ]
1.
Identify the sequence of events in making a sale. [25]
2. a)
Explain how bills of exchange promote business activity. [10]
b)
Explain the following terms:
i.
Cyclical billing
ii.
Drawer and drawee
iii. Absorption
costing [5 each]
3. a)
Why is a statement of account sent out? [10]
b)
Explain the TWO main reasons for sending a credit note. [7]
c) What
is the importance of a debit note? [8]
4. a)
Discuss the chief approaches to marketing research. [15]
b) Explain
the term ‘random sample’. [5]
c)
Explain the term ‘break-even’. [5]
5.
Write short notes on FIVE of the following:
a)
Suggestion box
b)
In-house research
c)
Sampling
d)
Collective advertising
e)
Product range
f) VAT
g)
Receipts [5 each]