Features of a fixed deposit account. Opened for a specific period of time Opened with a specific amount for a specific period Higher interest rates are paid Used by commercial bank to advance loan to others Can be used as Read More …
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Month: December 2020
State any four sources of capital to co-operative societies.
Sources of capital to co-operative societies. Members contributions Retained profits Entrance fee deposits Credit facilities Surplus and reserves.
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Highlight four ways in which Insurance companies make profits.
How insurance companies make profits Investing their funds Differences in claims From forfeited funds by policy holders By charging those who breach the contract of the policy.
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Give any four categories of goods that are suitable for direct distribution from producers to retailers.
Goods suitable for direct distribution. Goods which require sufficient after –sales service eg electronics Goods which the manufacturer wants to exercise some control during distribution Goods with high profit margin and the retailers purchase in bulk Goods which are very Read More …
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Highlight any four benefits that accrue to a seller who uses personal selling as a method of sales promotion.
Benefits of personal selling. Creates a personal touch between the seller and the buyer The seller explains to the buyer since he/ she can ask questions regarding the products The seller gets to know how to improve the quality of Read More …
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Give any four reasons that may lead to dishonour of a cheque.
Why cheques are dishonoured Insufficient funds Post – dated cheque Stale cheque. Amount in words differ from amount in figures. Signature of the account holder may differ from the specimen in the bank Alterations that have not been signed against Read More …
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