MARKETING
BUSINESS MANAGEMENT
BUSINESS MATHEMATICS
ACCOUNTING
COMMERCE AND FINANCE
UNCOVERED TOPICS AFTER 17/03/2020
INCOME DISTRIBUTION.
Factors of production have to be combined so as to produce national income.We are only concerned here with how this income is distributed so as to compensate the various factors of production.Why do pop stars,footballers and stockbrokers earn such large incomes while on the other hand cleaners,hospitals Porter's earn very low incomes.These are the types of questions that the theory of distribution seeks to answer.It does this by examining the incomes earned by the various factors of production.
1) In the case of labour ,this income takes the form of wages and salaries.
2) The surplus accruing to the entrepreneurship as a reward for his risk- bearing function in the form of profit.
3) In the case of land it is the Rent earned by landlord.
4) In the case of capital it is the profit or interest earned by the owner of capital.
THEORIES OF WAGES.
Wages are earnings from productive labour.
There is a slight difference between wages and salaries.Administrative staff are usually paid a salary on a monthly basis.Most manual workers including lorry drivers ,shop assistants are paid a wage on a weekly or even daily basis.Subsequently,we would only make reference to the wage rate which is the sum of money on employer contracts to pay to a worker in return for services rendered.Such a definition include both wages and salaries.
There are many theories of wages which have been put forward by different economists from time but none of them is free from criticism.The most important of such theories are
*The subsistence theory of wages.
*The wage fund theory .
* The residual claimant theory.
* The modern theory of supply and demand.
WEEK BEGINNING 23RD TO 27TH MARCH 2020
WEEK BEGINNING 23RD TO 27TH MARCH 2020
L6C COST AND MANAGEMENT Accounting Lawer Sixth C
CONTRACT COSTINE
Contract casting is the process of determining the cost of executing a construction contract. In order words, contract casting refers to the accumulation or the ascertainment of cost for a long-term contract. Construction contracts are executed according to specific customer’s requirements and are usually carried out on sites away from the premises of the enterprise.
Contract costing is applied in bridge building, road constructions and ship building e.t.c
Construction contracts are of relatively long duration in comparism to job and batch the payment for the contract is usually made in installments as the contracts proceeds this interim payment is called progress payments.
A surveyor or architect usually visits the contract as it progresses to ascertain the work done so far. After such inspections, the architect issues a certificate which. States the sales value of the work which has been certified to date.
The enterprise executing the contract then raises an invoice to the custome for the work done so far, supported by the architect’s certificate of the work certified. The contract usually requires the customer to pay only a fraction of the work certified. The balance which is not paid is called RETENTION MONEY which is always 10% of the certified value.
The customer retains this Amount until an agreed time after the contract is completed to guard against monetary loss due to unforeseen circumstances. And equally to allow time for the contractee to properly assess whether the job has been completed to his satisfaction or not.
The cost of each contract is systematically collected in a separate account the entire cost of the contract collected in the account is used to assist in determining the control profits. Contracts usually span for more than one accounting period if the contract is still in progress at the end of a financial year, the value of the contract work in progress is determined for and reported on the statement of financial position. Also, the profits earned on the contract within the year is credited to the enterprise income statement for the year. The profit on the contract is thus recognized in stages as the contract progresses this is in line with the matching concepts of accounting.
WEEK BEGINNING 23RD TO 27TH MARCH 2020
LESSON ON WESTERN PHILOSOPHY: L6 Arts.
Title: MOTION.
General introduction:
The philosophy of motion is a branch of philosophy concerned with explaining questions on the existence and nature of motion. The central question of the study concerns the epistemology and ontology of motion, that is, whether motion exist as we perceive it? what is it? and if it exist, how does it occur?
The philosophy of motion is important in the study of theories of change in natural systems and is closely connected to studies of space and time in philosophy.
The philosophy of motion was of central concern to ancient Greek and Roman philosophers such as :PARMENIDES ,ZENO of Elea, HERACLITUS and DEMOCRITUS.
According to the above mentioned philosophers,due to movement, things are changing, and if they are changing, is there anything which is stable? Such intelligent philosophical question led to fruitful philosophical development on the concept of motion. As such, philosophy of motion was influential in the development of the philosophy of science in general.
: HERACLITUS: Brief History.
He lived between 475BC and 535BC, age 60.He studied in the Ionian school, and was a native of the city of EPHESUS. He was a pre- Socratic Greek philosopher.
Little, however, is known about his early life and education, but he regarded himself as " self-taught" and a pioneer or source of wisdom. Heraclitus was sometimes called " the obscured, and, the weeping philosopher.
Mr Achalle
Reading comprehension (10MRKS
Read the following passage and answer the questions that follow it. Circle the letter A, B, C or D that corresponds to the most appropriate answer.
Extend rights and opportunities to more o your citizens. See the differences and diversity in this country as strength, just like we in America see our diversity as strength and not a weakness. So, you can choose the path to progress; but it requires making some important choices.
First, it means continuing down the path of a strong more inclusive, more accountable and transparent democracy. Democracy begins with a peacefully elected government. It begins with elections but it doesn’t stop with elections. So, your constitution offers a roadmap to governance that’s more responsive to the people through protection against unchecked power, and more power in the hands of local communities. For this system to succeed, there also has the be space for citizens to exercise their rights and we saw the strength of Kenya’s Civil Society in the last election when groups collected reports of incitement so that violence could be stopped before it span out of control..
The ability for citizens to organize advocate for change, that is the oxygen upon which democracy depends. Democracy is sometimes messy and for some of us, leaders, sometimes it’s frustrating. Democracy means that someone is always complaining about something. Nobody is ever happy in a democracy about their government. If you make one person happy, somebody else is not happy and sometimes, somebody you made happy, later on they are not. They say, “ what have you done for me lately? “
But that’s the nature of democracy – that’s why it works, because it’s constantly challenging leaders to up their game and to do better and such civic participation and freedom is also essential for rooting out the cancer of corruption.
I want to be clear, corruption is not unique to Kenya. There is no country that is completely free of corruption. Certainly, here in the African continent, there are many countries that deal with this problem and I want to assure you, I speak about it wherever I go, not just here in Kenya. But the fact is too often, here in Kenya as is true of other places: corruption is tolerated because that’s how things have always been done. People just think that that is the normal state of affairs, and there was a time in the United States when that was true too – my own town of Chicago was infamous for Alcapone and the Mob and organized crime corrupting law enforcement. But what happened was over time, people got fed up and leaders stood up said, ‘we are not going to play that game anymore.’ And you change the culture and habits.
Here, in Kenya, it is time to change habits and decisively break that cycle because corruption holds backs every aspect of economic and civil life. It’s an anchor that weighs you down and prevents you from achieving what you could. If you need to pay bribe and hire somebody’s brother who is not very good and doesn’t come to work in order to start a business, then that is going to create less jobs for everybody. If electricity is going to limit development of the country as a whole.
It is important that not only low level corruption that not only low level corruption is punished but also folks at the top. If they are taking from the people, then that has to be addresses as well. But it’s not something that is just is fixed by laws or any one person can fix. It requires a commitment by the entire nation – leaders and citizens to change habits and to change culture. Tough laws need to be on the books, and the good news is that your government is taking some important steps in the right direction. People who break the law and violate the public trust spotlight trust need to be prosecuted, NGOs have to be allowed to operate to shine a spotlight on what needs to change, and ordinary people have to stand up and say, ‘enough is enough’. It’s time for a better future. As you take these steps, I promise that America will continue being a partner in supporting investments and strong democratic institutions.
Elements for development that extends economic opportunity and dignity for all of Kenya’s people. America partners with Kenya in areas where you are making enormous progress. We focus on what Kenyans can do for themselves in building capacity, on entrepreneurship where Kenya is becoming an engine for innovation, on access to power where Kenya is developing clean energy that can reach more people; on the important issue of climate change where Kenya’s recent goal to reduce its emissions has put it in the position if being a leader on the continent; on food security where Kenya’s crops are producing more to meet the demands of your people and a global market, and on health where Kenya’s struck huge blows on HIV/AIDS and other diseases while building up the capacity to provide better care for local communities.
America is also partnering with you on an issue that’s fundamental to Kenya’s future. We are investing in youth. We are investing in the young people of Kenya and the young people of this continent. Robert F. Kennedy once said, ‘it is a revolutionary world that we live in and it is the young people who must take the lead.’ So through our Young African Leaders Initiative, we are empowering and connecting young people from across the continent who are filled with energy and optimism and idealism and are going to take Africa to new heights; and these young people are not weighed down by the old ways. They are creating a new path. These are the elements for success in this 21st century.
To continue down this path of progress, it will be vital for Kenya to recognize that no country can achieve its full potential unless it draws on the talents of all its people and that must include the half, who are women and girls…Every country and every culture has traditions that are unique and help make that country what it is.
But just because something is a part of your past doesn’t make it right. It doesn’t mean that it defines your future. Now, look at us in the United States, recently we’ve been having a debate about the confederate flag. Some of you may be familiar with this. This was symbol for those states who fought against the Union to preserve slavery. As a historical artifact, it’s important; but some have argued that it’s just a symbol of heritage that should fly in public spaces. The fact is (that) it was a flag that flew over an army that fought to maintain a system of slavery and racial subjugation. So, we should understand our history but we should also recognize that it it sends a bad message to those who were liberated from slavery and oppression, in part because of (an) unspeakable tragedy that took place recently, where a young man who was a fan of the confederate flag and, racial superiority shot helpless people in a church. More and more Americans of all races are realizing now that that flag should come down.
Just because something is tradition doesn’t make it right. Around the world, there is a tradition of repressing women and treating them differently-not giving them the same opportunities, and husbands beating their wives and children not being sent to school. Those are bad traditions – treating women and girls as second class citizens. Those are bad traditions; they need to change. They are holding you back. Treating women as second class citizens is a bad tradition, it holds you back. There is no excuse for sexual assault or domestic violence. There is no reason that young girls should suffer genital mutilation. There is no place, in civilised society, for early or forced marriage of young girls. These traditions may date back in centuries: they have no place in the 21st century. These are issues of right and wrong in any culture; but they are also issues of success and failure. Any nation that fails to educate its girls or employ its women and allows them to maximize their potential, is doomed to fall behind in the global economy.
Evidence shows that communities that give their daughters the same opportunities as their sons are more peaceful, prosperous; they develop faster, and are more likely to succeed. That’s true in America; that’s true here in Kenya, it doesn’t matter…
There are real threats out here … we are grateful for the sacrifices made by Kenyans on the frontline …We are going to stand shoulder to shoulder with you in this fight against terrorism for as long as it takes. But as I mentioned yesterday, it is important to remember that violent extremists want us to turn against one another. That’s what terrorists typically try to exploit. They know that they are a small minority. They know that they can’t win conventionally. So, what they try to do is target societies where they can exploit divisions. That’s what happens in Irap; that’s what happens around the world…Extremist who prey on distrust must be defeated by communities who stand together and stand for something different …we have to rejects calls that allow us to be divided…Kenya is stronger when Kenyans stand united with a sense of national identity… I love Kenya because you feel at home any where you go. Home anywhere you go. That’s the Kenya that welcomed me almost 30 years ago as a young man. You helped to make me feel at home and standing here today as president of the United States while I think about all those young people and the young people in the attendance here. You will make me feel at home and I’m confident that your future is going to be written across this country and across this continent by young people like you.
Young men and women, we don’t have to struggle under colonial power. We don’t have to look overseas to realize your dreams. Yes, you can realize your dreams. Yes, you can realise your dreams right here right now. We have not inherited this land from our forebears; we have borrowed it from our children. So, now is the time for us to do the hard work of leaving up to that inheritance of building a Kenya where the inherent dignity of every person is respected and protected, and there is no limit to what a child can achieve and I’m here to tell you that the United States of America will be a partner for you every step on the way.
An excerpt of President Obama’s speech to the people of Kenya on his visit to that country, In 2015.
Questions:
1) According to the …………………………is a universal socio-political malaise.
(A) Poverty (B)Democracy (C)Corruption (D)Religion
2)The writer in this passage sounds………………………………………
(A)Prescriptive (B)Descriptive (C) Complacent (D)Satisfied
3) The path to progress in the passage consists of…………………………………………….
(A)inclusive democracy, development that extends economic opportunity and dignity for all and choosing a future of peace and reconciliation.
(B)educating girls and employing women
(C) fighting corruption with tough laws
(D) changing habits and culture
4) The narrator suggests that democracy is the best form of government, yet he says it can messy and frustrating. This statement reprents………………………………………………………………
(A) the fact that nobody is ever happy in a democracy
(B) the paradox of democracy
(C) the disadvantage of democracy
(D)the fact that democracy is misleading
5) The oxygen upon which democracy depends. This statement is an example of……………………………………………………
(A)oxymoron (B)hyperbole (C)metaphor (D)irony
6) The expression ‘ to up their game’ as used in line 20 suggests that ……………………………………………………………
(A)leaders need to constantly improve on the lives of the people they lead
(B)leaders need to increase their game
(C)leaders need to concentrate on playing games
(D)leaders have to strive to be admired.
7) Extend rights and opportunities to more of your citizens. The President said. Put in reported speech, this statement would read …………………………………
(A) The president said that they should extend rights and opportunities to all citizens.
(B)The president advised that rights and opportunities be extended to more citizens
(C)The president said that rights and opportunities should extend to more citizens.
(D)The president said that rights and opportunities should extend to more of your citizens.
8) The passage suggests that the best way to fight corruption……………..
(A)for leaders to up their game
(B)for people to change habits and culture
(C)for people to employ their brothers
(D)for people in public offices to take cuts
9)Three very important characteristics of democracy, according to the passage are: ……………………………………………………………………………………………………………
(A) people need to be allowed to exercise their rights, people who violate public trust need to be prosecuted and NGOs need to be allowed to operate.
(B)people need to root out corruption, having good and tough laws, and fighting disease.
(C)rights of citizens need to be promoted, equity has to be given a chance and countries need to partner with America
(D)fighting climate change, investing in youth and promoting rights of the girls child.
10)In this passage, the writer’s style is: ………………
(A) contrastive (B) -comparative (C) descriptive (D) humorous
SECTION B (10Marks)
Each question has four suggested answers, A.B.C.D. Choose the correct one. Circle the letter that corresponds to the correct answer to join the square brackets for each answer you have chosen.
B- proper noun
C- abstract noun
D- concrete noun[A] [B] [C] [D]
SECTION C (20 Marks)