(a) A company had VAT due amounting to Sh.300,000. It was late in making thepayment for six weeks. What late payment penalty will be charged? ( […]

(a) Explain any FOUR effects of Value Added Tax on business. ( 8 marks) (b) Specify the rules relating to appeal against the Commissioner’s decision under […]

Describe the various procedures of obtaining audit evidence giving an example of each by way of illustration. (10 marks)

a) Explain the meaning of the „audit evidence‟. (4 marks) b) Write a brief explanatory notes on the following terms in relation to audit evidence: i. […]

Transparency and Co. Certified Public Accountants, have been appointed to audit accounts of Health National Hospital. Due to the large number of accounts, the consultants have […]

a) Explain the meaning of the following audit terms: i. Tests of control. (3 marks) ii. Substantive tests. (3 marks) b) Explain the meaning of the […]

Mr. Kiplimo is finalizing his tax affairs for the year of income 2005. He and his wife had the following income and transactions for 2005: 1. […]

(a) (i) Define an indifference curve (2 marks) (ii) Illustrate and clearly explain the nature of indifference curves for perfect substitutes and for complementary goods (7 […]

(i) Briefly explain two exceptions to the definition of an indifference curve. (4 marks) (ii) Explain any four uses of indifference curve analysis. (8 marks)