August 17, 2021

The law of diminishing marginal utility

(a) State the law of diminishing marginal utility (3 marks) (b) If Mrs Breader views butter and margarine as perfect substitutes, draw a set of indifference […]
August 17, 2021

Preliminary procedures for appointment as an auditor

You have received a request form XYZ Ltd. to accept an appointment as their auditor for the financial year ending 31 December 2001. Required: a) Explain […]
August 17, 2021

Survey by Intelligence Consultants

In a recent research survey by Intelligence Consultants on the use of the services of auditing firms by various Non Governmental Organisations (NGOs) in Kenya, the […]
August 17, 2021

The cardinalist approach of consumer behaviour

Using the cardinalist approach of consumer behaviour, distinguish between income and substitution effects of a price rise for a normal good (10 marks)
August 17, 2021

Central and Eastern Industries is planning to introduce a new mobile phone service

Central and Eastern Industries is planning to introduce a new mobile phone service. To do so, the following activities are necessary: Activity Preceding Activity Expected Time […]
August 17, 2021

letter of engagement

You have been appointed the auditor of United Millers Company Limited, a medium manufacturing company which is quoted on the stock exchange. Required: a) List the […]
August 17, 2021

Constructing a pay-off table

A charity is about to launch an appeal for a children’s ward in a national hospital and has to choose between the following fund raising strategies. […]
August 17, 2021

Formulating information as a game

A student team was planning strategy for a management game being played in one of their classes. They had to decide whether to price their firm’s […]
August 16, 2021

The probability distribution

The probability distribution showing the number of hours a specially trained accounts clerk is required to work daily is as follows: Hours Frequency 0 0.4 1 […]
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