Explanation

(a) Liquid Capital Le

Debtors 30,000 Cash 6,75036,750

(b) fixed Assets Le plant and machinery 72,000 motor van31,000103,000

(c) Teesan Enterprise's capita Item le Le cash at hand 6,750

Correct Answer: C. Increased price of good and services

Correct Answer: C. patience towards ill-mannered customers

Correct Answer: B. Indemnity

Explanation

Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party.

Correct Answer: A. within 6 months

Explanation

A merger is the coming together of two or more companies in a way that all merging companies will close and a new company formed while an acquisition is the process of buying another company in which the company bought stops to exist and the company that purchased it becomes bigger and continues to exist.

i) Commerce promotes rapid transfer of both oral and written messages through territory

ii) Commerce facilitates exchange of goods and services which people enjoy whether produced within or outside their territory

(iii) Commerce facilitates the creation of wealth thereby improving the standards of living in a nation

iv) Commerce makes room for protection against risks in day to day business operations through insurance.

(v)Commerce creates awareness of the existence of goods and services through advertising goods and services through advertising

(vi) Commerce ensures that goods produced are stored until needed, thus making sure that there is steady supply of goods for the nation through warehousing

(vii) Commerce makes it possible for people and s access to funds through their operations of financial institutions.

(viii) Commerce offers employment opportunities there long number of people in a nation.

(IX) Commerce encourages international trade and co-operation, as a result, enhance friendly relations among countries

(x)Commerce brings technological innovation and new ideas, resulting in market development

(xi) Commerce assists in the movement of materials/goods and people from one place to another

Correct Answer: C) easily recongnisable

Explanation

Money has several functions, which are the different ways it is used in our economy. The functions of money include being a medium of exchange, serving as a store of value, being easily recognizable, and making deferred payment possible.

Option A states that money is a medium of exchange. This means that people use money to buy goods and services. When we go to a store and pay for something with cash or a card, we are using money as a medium of exchange.

Option B states that money serves as a store of value. This means that money can be saved and used in the future. We can keep our money in a bank account or invest it to earn interest or increase its value over time.

Option C states that money is easily recognizable. This means that money has distinctive features that make it easy to identify and distinguish from counterfeit money. This is important to ensure that people can trust the money they are using.

Option D states that money makes deferred payment possible. This means that money allows us to buy something now and pay for it later. For example, when we buy something on credit or take out a loan, we are using money to make deferred payments.

Therefore, the correct answer is option C. Being easily recognizable is NOT a function of money. Money needs to be easily recognizable to prevent fraud and ensure its authenticity.

To learn more about the functions of money, please read the relevant sections of the recommended textbooks.

Correct Answer: C. form utility

Explanation

(a) functions of a wholesaler to a retailer:

(i) Provides the retailers with a variety of goods

(ii) Provides credit facilities

(iii) Advises the retailer on new trends in the market.

(iv) Breaks bulk for the retailer.

(vi) Grades and packages goods.

(vii) Advertises goods on behalf of the retailer.

(viii) Provision of warehouse facilities.

(b) Advantages of small scale business over large scale business:

(i) Quick decision:The small trader can make decisions on matters that affect his business faster than the large scale retailer.

(ii) The capital required to start and run a small scale business is smaller and will be easy to raise than large scale retail business.

(iii) The small retailer can draft in his family to assist him but the large scale retailer had to employ competent hand which will be costly.

(iv) Small scale retailers offer personal attention which atttract more customers to the small retailer than the large scale retailers.

(v) The possibility of credit facilities attract more customers to the small scale retailers because he knows the customer than large scale trader.

(vi) The ability to sell in the smallest unit (say a wrap of salt) also attracts more customers to the small scale retailers.

(vii) Operation period is an added advantage to the small trader, he can open seven days a week and even to late hours unlike the large scale outlet.

Correct Answer: C. facilitating exchange among individuals and firms