Define the term Monetary Policy and discuss any four instruments of this policy used to control and regulate money supply the Central Banking Authorities Monetary policy refers to the manipulation of money supply, liquidity and interest rates in the Read More …
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How and when is the concept of elasticity applied in economic policy decisions.
The concept of elasticity can be applied in economic policy decisions in the light of the following situations: Business pricing decisions: Revenue can be increased increasing prices where demand is inelastic; where demand is elastic, revenue could be increased Read More …
Effects of Currency depreciation on the National Income
If the currency of a country depreciates, what would likely happen to the National Income? Why? Depreciation of the currency of a country would increase the nominal value (monetary value) of National Income; since depreciation constitutes a reduction in the Read More …
Main Problems associated with National Income Accounting in developing countries
What are the main problems associated with National Income Accounting in developing countries? Main problems of National Income Accounting: Incomplete/inadequate information Danger of double counting Changes in prices (price instability) Problem of inclusion, in terms of: Subsistence output/income Intermediate goods Read More …
Approaches used in the measurement of the National Income of a country
Discuss the different approaches used in the measurement of the National Income of a country There are basically three methods of measuring National Income: Income approach Expenditure approach Output/Value Added approach 1. The Income Approach: Each time something is produced Read More …
Fundamental principles of professional ethics
Explain four Fundamental principles of professional ethics Integrity – to be straight forward and honest in all professional and business relationships. Objectivity – not to allow bias, conflict of interest or undue influence of others. Professional competence and due care Read More …
Disadvantages associated with Just-In-Time (JIT) inventory management system
Summarise four disadvantages associated with Just-In-Time (JIT) inventory management system A supplier who does not deliver goods to the company exactly on time and in the correct amounts could seriously impact the production process. A natural disaster could interfere with Read More …
Differences between job costing and process costing
Explain three differences between job costing and process costing Job costing Process costing -Suitable where distinctive product/service is manufactured. -Is suitable where units of products are indistinguishable from each other. -Used where organisations produce products that are tailored to individual Read More …
Types of standards as used in standard costing
Explain three types of standards as used in standard costing Stores ledger Wages Work-in-progress Finished goods Production overhead
Categories of information that the commissioner should include in the default assessment to a taxpayer as per The Tax Procedures Act 2015
In a tax seminar one of the facilitators noted that, “The Tax Procedures Act 2015, specifies on information that the Commissioner should include in the default assessment to a taxpayer”. With reference to the above statement, outline five categories of Read More …