State briefly whether the following pairs of events are independent, and why. (i) Being an accountant and having large feet. (2 marks) (ii) Earning a large […]

i) Why should the auditor be unwilling to take full responsibility for the detection of fraud during the annual audit? Explain. (5 marks) ii) Discuss the […]

The table below shows the income per month of borrowers and the percentage of all mortgages as provided by Building Society Mortgages in the year 2000. […]

a) Do you believe that the auditors should be responsible to users other than the shareholders? Give reasons to support your answer. (5 marks) b) Does […]

Two machines, A and B are used to process certain items. The cost function for each machine is given by: Machine A: Y = 15 + […]

i) Give and explain five examples of non-taxable income i) With reference to wear and tear allowances, what is meant by the “pooling method”?

The table below shows the demand and supply schedules for a product. Price (Sh. Per Kg.) Demand (Kg) Supply (Kg.) 10 100 20 20 85 36 […]

State and briefly explain any four main factors that may cause a fall in the supply of a good in the market.

Clearly explain the distinction between supply, demand and equilibrium price.