Month: November 2020

The responsibilities of the National Treasury with respect to the budget process include preparing annual budget policy statement. In light of the above statement, outline three aspects that should be included in the budget policy statement. An assessment of the Read More …

Suggest five reasons for prolonged working capital operating cycle Purchase of raw materials in excess/short of requirement Buying inferior, defective materials Failure to secure trade discount, cash discount Defective inventory policy Use of protracted manufacturing cycle Lack of production planning, Read More …

In relation to time value of money, describe three interpretations of interest rates Interest rates are considered as the required rate of return. This is the minimum rate of return an investor must receive in order to accept an investment. Read More …

Explain five ways through which a lease might be terminated Effluxion of time – This is where the lease period expires. By notice – The lease sometimes gives the tenant and the landlord the right to terminate the lease before Read More …

Describe the rules that govern limitation of actions in tort All actions based on tort must be enforced within 3years An action based on defamation must be enforced within 1 year. Time starts running from the date the cause of Read More …

Explain two circumstances under which a public officer might be considered to have committed sexual harassment Making request or exerting for sexual activity or favours Making intentional or careless physical contact that is sexual in nature Making gestures, noises, jokes Read More …

Summarise six values and principles of public service enshrined in the Constitution of your country High standards of professional ethics Efficient, effective and economic use of resources Responsive prompt effective impartial and equitable provision of services Involvement of people in Read More …

Explain three exceptions to the “‘Nemodat” rule Estoppel-Nemodat will apply if “the owner of the goods is his conduct precluded from denying the sellers authority to sell. Sale factor – sale factor gives a good title to Read More …

Highlight three rights of the seller against the goods Lien – A lien is a right to retain possession of the goods until the contract price has been paid. Stoppage in Transit-This is the right of the seller to stop Read More …

State six rules governing consideration in a contract. Mutual love and affection is not sufficient consideration Consideration must be legal Consideration must not be past Consideration must be real Consideration must flow from the plaintiff/promisee Consideration must be something in Read More …