TOURISM OBJ
1-10 ; BCCBDACDAD
11-20: ADCCBAABCA
21-30: BDAACDCDBA
Book keeping obj !!
(1a)
A trading account can be any investment account containing securities, cash or other holdings.
(1b)
(i) Purchase
(ii) Sales
(iii) carriage inward
(iv) Carriage outward
(v) Expenses
(vi) Gross profit
(vii) Net profit
(viii) Opening stock
2a)
What is Discount ? Meaning
In simple terms, Discount is an allowance or
concession in price. Discount is given so that the buyer is induced (lured) to place an order and later to make payment in time.
Discount can be also referred to as a deduction in price. The seller deducts the discount from the gross or total price, and the buyer is supposed to pay the net amount.
2bii
(1)Cash discount is an allowance or concession given by the seller to the buyer.
(2) This discount is offered to encourage the buyer for quick payment or settlement.
(3) It is allowed for immediate payment of cash or payment within a short period.
(4) The cash discount is normally shown in the quotation and invoice . It is deductible from the total price and the buyer is requested to pay only to the net amount.
4b) a) To Calculate the True Profits:
Depreciation is an expense and becomes an important element of the cost of production. Though it is not visible like other expenses and never paid to the outside party yet it is desirable to charge depreciation on fixed assets as these are used for earning purposes; so their depreciation must be deducted out of the income earned from their use in order to calculate true profit net or loss.
b) To show true Financial Position:
Financial position can be studied from the balance sheet and for the preparation of balance sheet fixed assets are required to be shown at their true value. If assets are shown in the balance sheet without any charge made for their use or depreciation, then their value must have been overstated in the balance sheet and will not reflect the true financial position of he business
(4a)
Depreciation refers to two aspects of the same concept: The decrease in value of assets The allocation of the cost of assets to periods in which the assets are used. Depreciation is a method of reallocating the cost of a tangible asset over its useful life span of it being in motion.
(4b)
PIck any two
(i) To Calculate the True Profits
(ii) To show true Financial Position
(iii) To make Provision for replacement of assets
(iv) To have some Incidental advantage
(v) To have Tax advantage
(4ci)
*Fixed Instalment*
fixed installment method of depreciation the amount of depreciation each year is fixed and equal. At the end of each year, a fixed amount is removed from the book value of the asset concerned and charged to profit and loss account (or income statement ).
This is the oldest and most commonly used method of depreciation. Here a fixed amount of depreciation is charged every year during the lifetime of the machine. There at the end of its useful life, the value of the asset will be zero. This is also known as straight-line method or original cost method.
(4cii)
*Dimishing Balance*
Diminishing balance depreciation method is one of the three
depreciation methods that mention in IAS 16. This kind of
depreciation method is said to be high charged at the first period, and then subsequently reduce.
This is because the charging rate is applying to the Net Book Value of Assets and the Net Book Value of Assets is reduce from time to time after charging depreciation.
(14a)
(Pick four)
Tourism marketing involves all the activities that is needed or required to move tourism products to the final consumer tourist
(I)Face-to-Face Contact is Limited:-Limited face to face contact is one of the major drawbacks of internet marketing.
(II) Marketing Complexity
The virtual nature of internet marketing increases marketing complexity.
(iii)Dependability on technology
(iv) Security, privacy issues
(V) Maintenance costs due to a constantly evolving environment
(Vi) Higher transparency of pricing and increased price competition
(Vii) Worldwide competition through globalisation
(Number 5)
State two Roles of tour operator
(1)taking tourist to place where they can relax
(2)planning special holidays packages
(3)help in CO ordinating the accommodation and transportation of tourist
(4)Ensuring that the tour agencies advertise the holiday packages
(5)properly directing the tourist to his place of interest
(15a)
Tourism marketing involves all the activities that is needed or required to move tourism products to the final consumer tourist
(Tourism)
(Number 4)
(i)leather Shoe
(ii)leather belt
(iii)leather slippers
(iv)leather bags
(No 5)
(Pick any two)
(i) Taking tourist to place where they can
relax
(ii) Planning special holidays packages
(iii) Help in coordinating the accommodation
and transportation of tourist
(iv) Ensuring that the tour agencies advertise
the holiday packages
(v) Properly directing the tourist to his place
of interest
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(No 6)
(i) Immigration
(ii) Police
(iii) National drug law enforcement agencies
(iv) Car hire services
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(No7)
(i) Electronic media
(ii) Print media
(iii) Electronic bill board
(iv) E reservation
(v) E banking
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(9)
(1)Else museums
Located at Kara state,nigeria
(2)Lagos national museum
Located at Lagos State, nigeria
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