Bookkeeping

Question 1

• Read

Question 2

INDIGENOUS BOOKKEEPING AND INFORMAL BUSINESS

Question 3

These types of businesses aro normally run by people who are not emploved in the

Question 4

The momma susinessos ate:

Question 5

They are not regulated by the governmer

Question 6

Most of these businesses do not have fixed business o

Question 7

They do not keep proper accounting records

Question 8

REASONS FOR STARTING AN INFORMAL BUSINESS

Question 9

There could be a number of reasons for starting an informal business

Answer 9

such as:

Question 10

Send locates treatenges

Question 11

Decrease unemployment as they pronded themsalves with emobyment

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contribute to economy y providing goodsiserices where needed

Question 13

Shot contest

Question 14

Owners lack sills in running a businesel lack of knoutedao as n

Question 15

smal amount ol capital - cant be very productive… can’t afford lates!

Question 16

wight not be good was managing money - business money vs personal

Question 17

INFORMAL

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Onetamly working logether

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Need for flesible working hours e a for mothers with smat chideen etc

Question 20

Aocourang

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Captal

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FORMAL

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Registered

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Dilerent forms of ownership e.g.. sole

Question 25

grades comes nos

Question 26

Accounting cya

Question 27

Teach sna credit

Question 28

Calculate cost by income Statement

Question 29

partners; shares

Question 30

rogenous sooneering

Question 31

informal traders mosty deal in cash

Answer 31

they do not usually keep femal records

Question 32

The succes o he hushess is measured sr ouras minds fontes cash

Question 33

They are

Answer 33

however

Question 34

This could be a problem in the future if they should need so apply to the bank

Question 35

for a loan

Answer 35

they wil be unable to supply the bank with accurate nancial

Question 36

Informal de indigenous bookeeping system is the system where a user of De

Question 37

The malina tee sis

Question 38

ow stock levels

Question 39

Seling price

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Stock levals higher to meet demand

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That a reuro

Question 42

Moon incho caronsie cent

Question 43

It generaly includes a daily summary of cash receipts and a monthly record o

Question 44

This systemn on el to n oooorenv salems than taco echos torn an

Question 45

Back yard Beauty salon Scrolar Transport

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PORTASSUSINESS

Question 47

They are registered to operate as busnesse:

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a another hond of courte enace

Question 49

COST ACCOUNTING/ Manufacturing

Question 50

Direct raw materials Materials used to manufacture product e.g. wood

Question 51

to make a table

Question 52

+ Direct labour costs Wares/salaries paid to workers who are physically

Question 53

making the product.

Question 54

PRIME COST

Question 55

Indirect materials

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COSt DIRECTLY involved with manufacturina

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[+ Indirect labour

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product e.g.. cleaning materials; grease

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People working but not manulacturine e.r. cleaner

Question 60

in factory

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Runnine expenses of factory ee. electricit

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+ Overheads

Question 63

TOTAL PRODUCTION

Question 64

COSt

Question 65

Factory overheads