(a) Now that there is self assessment under the Income Tax Act, does the Commissioner of Income Tax have to issue any assessment? Explain. ( 5 […]

An electric utility company has found that the weekly number of occurrences of lightning striking the transformers is a poisson distribution with mean 0.4. Required: (i) […]

i. Define the term audit programme. (2 marks) ii. Write in point form an audit programme to cover salary and wages of a small size firm. […]

A businessman is contemplating investing in a business worth Sh.5,000,000 but has not made up his mind on which form of ownership he will assume. The […]

Distinguish between sole proprietorship and limited liability forms of business in relation to: Income Tax PAYE for the owners of business Service charge for the owners […]

Write brief notes on the following auditing techniques: i. Inspection; (4 marks) ii. Observation; (3 marks) iii. Enquiry. (3 marks)

(a) State clearly what is meant by two events being statistically independent. (2 marks) (b) In a certain factory which employs 500 men, 2% of all […]

A company employs four classes of machine operators (A, B, C and D); all new employees are hired as class D and, through a system of […]

i. Give the meaning of the term ‘ Price Control’ (2 marks) ii. Explain the circumstances under which price control is considered necessary. (8 marks)