a) Give a definition of an “internal control system”. (4 marks) b) Describe the internal control procedures you would recommend to the owner of a medium […]

Explain the connection between the following: (i) Reduced costs column and the range of optimality. (ii) Dual prices and the range of feasibility.

The total cost equation in the production of bacon at some hypothetical factory is C = 1000 + 100Q – 15Q2 + Q3 Where C = […]

Control procedures consist of practices and procedures in addition to the control environment, established to achieve certain specific objectives. For each of the procedures listed below, […]

One of the properties (assumptions) of linear programming is that fractional values of the decision variables are permitted, that is, divisibility. However, fractional values might sometimes […]

i) Briefly explain and illustrate quasi-rent. (5 marks) ii) Discuss some of the economic implications of a rising trend in the rural-urban migration and offer policy […]

a) Explain what is meant by the terms transfer earnings and economic rent of a factor of production. (5 marks) b) Using well labelled diagrams, illustrate […]

Business at M and K Sunshine Boutique can be viewed as falling into three distinct seasons: (1) Christmas (November – December) (2) Rainy season (April – […]

The auditor‟s operational standard states, “The auditor should obtain relevant and reliable audit evidence sufficient to enable him to draw reasonable conclusions thereon”. Required: a) What […]