Question 6
-
Delight Enterprises Limited, an RTV business, purchased some electronic components on 5th January 2017. After taking stock on 30th January 2017, the components listed in Table 4 were found available in the store.
Table 4
S/NItems
I.
Twenty one 1N4001 Crystal diodes
II.
Forty BC 108 npn transistor
III.
Twenty five 47 Ω,
fixed resistors IV.
Thirty three 6V, Zener diodes
V.
Twelve 240V/12V step-down transformers
VI.
Nineteen 240nF, 12V electrolytic capacitors
\
.
- State three methods that could have been used to purchase the items
- Design an inventory form for the company and list the items as appropriate
- List two business records, other than inventory form, that should be kept by the company.
Observation
The expected responses were:
(a) Methods of purchasing listed items in Table 4
- Petty cash
- Purchase order
- Purchase cards
- Direct purchase
- E- transaction
- Online purchase
- Inventory form for the company
DELIGHT ENTERPRISE LIMITED |
|
||
S/No |
Item Description |
Quantity |
|
1 |
1N 4001Crystal diode |
21 |
|
2 |
BC 108 NPN Transistor |
40 |
|
3 |
47 Ω, |
25 |
|
4. |
6V, Zener diode |
33 |
|
5. |
240V/12V Step-down Transformers |
12 |
|
6 |
240nF, 12V Electrolytic capacitors |
19 |
|
Fixed Resistors
(c) Business records to be kept by the company
- Accounting ledger
- Repair order form
- Invoice
- Waybill
- Receipt
- Purchase order form
- Delivery book
- Job completion record book
- Petty cash book
- Borrowers’ record book
- Inventory
The Chief Examiner reported that majority of the candidates attempted question 6 and quite a good number of them responded well. Candidates were encouraged to pay particular attention to ‘Entrepreneurship’..