Explain what is meant by the terms: i. Revenue expenditure. [2 marks] ii. Capital expenditure. [2 marks]

The following information is available for a business run by Paul Simiyu for the year ended 31 December 2011.

Current sales
Gross profits
Net profit
Average stock
Average Debtors Kshs.


Calculate for the year 2011

i. Gross profit ratio [2 marks]
ii. Net profit ratio [2 marks]
iii. Rate of stock turnover [2 marks]
iv. Debtors collection period in days [2 marks]

Jane is a treasurer of her own local Tennis club.

i. Name two accounts which Jane would present to the club at the annual General meeting. [4 marks]

ii. Name ONE source of funds available to the club to finance an extension to the clubhouse. [2 marks]





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