Questions and Guide For Entrepreneurship

Revision Questions for Enterprise creation (All options) HND
QUESTIONS AND GUIDE FOR ENTREPRENEURSHIP

Q1 What are the Factors to be considered when evaluating a business idea?
1. Profit to be earned in order to cover all operational expenses.
2. Technology to be used in producing the product.
3. Availability of market/demand which should be adequate
4. Government policy/legal requirements which should be favorable.
5. Channel of distribution to ensure the products are available in the market.
6. Competition which should be fair
7. Capital which should be adequate to start.
8. Input/supplies which should be minimal
9. Payback period which should be reasonable in relation to amounts invested.
Q2. What are the Challenges that may be experienced by a new entrepreneur in
your country?
1. Inadequate capital / funds to sustain / expand.
2. Inadequate skills / poor management.
3. Unfriendly / poor government policies e.g. high taxes which are unfavorable to
the growth/expansion of the business.
4. Poor infrastructure / poor roads which may hinder access to markets or inputs.
5. Inappropriate technology which may result in less quantity or poor quality
products.
6. Unfair competition.
7. Inadequate manpower to run the business effectively/ labour supply.
8. Poor pricing which might make the product too expensive to attract buyers or too
cheap to sustain the business.
Q3. Circumstances under which an entrepreneur would prepare a business plan.
1. When attracting funding- it is used to attract funding from potential investors and
lenders as it justifies the viability of the business.
By Dr. Wirsiy Leonard (PhD) & Mr. Diom Bernard (M.Sc). “NPUI” Page 1
2. When one wants to avoid mistakes- it minimizes the impact of disruption of

business activities as a result of unforeseen circumstances by anticipating
challenges and possible setbacks.
3. When one wants a blueprint for starting and operating a business.-It guides the
owner/management„s decision and actions on day to day business.
4. When a tool for evaluation is required – It is used to evaluate business
performance to see if it„s achieving the set objectives.
5. When the owner wants to determine the finances required to start the business.
6. When identifying customers. It enables one to target appropriate customers to buy
the product.
Q4. Advantages of business plan to a business.
1. Enhances communication in a firm
2. Helps determine the amount of finance required
3. Helps identify the strengths and weaknesses of the business
4. Used to evaluate performance of the business
5. Used to attract external funding.
6. Tests business ideas on paper.
7. Proper allocation of business sources
8. Motivates workers and management
Q5. Identify Factors that have contributed to the growth of entrepreneurship in
Cameroon.
1. Need to exploit talent
2. High market availability
3. Growth in awareness
4. Improved security
5. Improved infrastructure
6. Need to be own boss
7. Availability of source of finance
Q6 what are some Reasons for the establishment of a business enterprise .

1. Profit generation /maximization
2. Creation of employment
3. Provision of goods and services
4. For prestige/enhancing own image
Q7. What are some of the Reasons to consider when evaluating a viable business
opportunity?
1. Potential profits
2. Availability of market
3. Availability of raw materials
4. Amount of capital required
5. Level of competition
6. Security
7. Government policy
8. Level of development of infrastructure.
9. Future growth
10. Acceptance by the community
11. Cost of capital
12. Ability to manage
Q8. Identify some possible causes for Business failure
1. Inadequate capital
2. Poor working strategies
3. Unfavorable government policies
4. Insecurity in the area
5. Inadequate academic and technical knowledge
6. Inadequate business management knowledge
7. Inadequate demand market
8. Poor record keeping
9. Poor customer relations

10. Large drawings from firm
11. Lack of self-discipline and poor moral character
12. Poor planning
13. Changes in technology
14. Changes in business environment
Q9.Reasons why the government encourages entrepreneurial knowledge in schools
1. To reduce rate of unemployment
2. Equip learners with entrepreneurial skills and knowledge
3. Create informed population on commercial activities
4. Learners to be able to utilize local resources
5. Enable learners to be self-reliant
Q10. Benefits of entrepreneurship to the developing economies.
1. Promotes job creation
2. Promote production of a wide variety of goods
3. Improves infrastructure of a country
4. Promotes healthy competition hence production of high quality goods
5. Enhances full exploitation of a country‟s resource
6. Promotes industrial development
7. Provides consumer with variety of goods
8. Promotes savings and investments
9. Raises the living standards of citizens
10. Reduction of rural urban migration
11. It saves the country on importation of goods
12. Leads to promotion of entrepreneurial culture
13. Reduces foreign dominance of the economy
Q11 Gaps that may create a business opportunity in the market
1. Poor quality products
2. Unavailability of products
3. Unaffordable prices
4. Poor services
5. Insufficient quantities
Q12.Identify Factors that may hinder entrepreneurship development in Cameroon

1. Teachers do not encourage their student to be entrepreneurs
2. Lack of relevant business courses in schools
3. Lack of role models in the society
4. Peer group influence the way people act
5. Lack of financial and business consultancy institutions.
6. Gender discrimination in many African traditions
Q13. Explain the roles of an entrepreneur in production.
1. Provides capital required for production
2. Combines other factors of production
3. Identifies viable business opportunities
4. Employs and rewards other factors of production
5. He bears all risks and losses
6. He makes all decisions on the business
7. He controls and manages the business.
Q14. What are the Problems that may be faced by entrepreneurs without a
business plan?
1. The entrepreneur will commit to many mistakes or errors in the business
operations.
2. The entrepreneur will not be able to identify strengths and weaknesses of the
business.
3. The business will not be able to meet the requirements by the financiers before
they provide finance.
4. There will be poor allocation of resources

5. The entrepreneur will not be able to determine the finance/capital that is required
by the business.
6. The workers of the business may not be motivated
Q15. Identify the Measures that the government may take to encourage
entrepreneurship in the country.
1. Offering subsidies to entrepreneurs
2. Providing security.
3. Providing tax incentives and tax holidays.
4. Funding institutions that train entrepreneurs.
5. Improving infrastructural facilities
Q16. What are some of the Factors that may have favour entrepreneurial growth
in Cameroon today?
1. Availability of good role models
2. Favorable government policies
3. Availability of appropriate technology.
4. Appropriate education system.
5. Easy access to loans.
6. Good infrastructure.
7. Availability of market.
8. Entrepreneurial culture
Q17 Advantages of a business plan to a business.
1. Enhances communication in a firm
2. Helps determine the amount of finance required
3. Helps identify the strengths and weaknesses of the business
4. Used to evaluate performance of the business
5. Used to attract external funding.
6. Tests business ideas on paper.
7. Proper allocation of business sources

8. Motivates workers and management
Q18. What are the Importance of entrepreneurship to the economy.
1. Creation of employment/jobs by absorbing people who would otherwise be
2. jobless
3. Formation of capital through profits which may be used to expand the business
4. Reducing rural-urban migration as businesses in rural area offer employment
opportunities
5. Raising standards of living through receipt of salaries and wages as well as availing
a variety of quality goods and services
6. Saving on imports as entrepreneurs are able to produce good and services that are
substitutes to imports
7. Improving infrastructure through improvement of roads and security by the
government
8. Reducing foreign dominance of the economy by increasing the participation of local
entrepreneurs in various business activities
9. Making use of local resources which would otherwise be idle or thought to be a
waste
10. Promotion of technology through the entrepreneurs creativity and innovation
11. Promotion of entrepreneurial culture by using successful entrepreneurs as role
models
Q19.Factors that may hinder entrepreneurship in Cameroon
1. Insufficient support and good will by the government
2. Lack of role model entrepreneurs in society
3. Lack of financial support
4. Lack of entrepreneurial culture
5. Lack of business skills
6. Stiff competition from outside the country.
7. Poor infrastructure such as poor road network

Q20. Explain reasons why a new business may fail.
1. Inadequate capital/ lack of funds- initial/ operation capital may be inadequate to
sustain/ run/ expand due to lack of collateral/ security
2. Poor inappropriate marketing/ strategies/ leading to low sales/ fewer customers/
3. Unfair/ stiff competition
4. Inadequate/ lack of poor/ inefficient management skills. The business may have
insufficient skills to operate/ manager
5. Lack of inadequate manpower
6. The business may not have enough manpower to operate/ manage
7. Lack /inadequate modern technology/inappropriate technology. This may lead to less
quantity/ quality goods/ services
8. Unfriendly / poor management policies. May be the government policies are
unfavorable to the growth/ explosion of business
9. Inadequate/ lack of market due to low income of buyers/ customers/ cultural
practices/ beliefs
10. Poor pricing which might make the produce/ services too expensive to attract buyers/
too cheap to sustain the business
11. Inappropriate product/ business for the intended market/
12. Political instability/ insecurity that may hinder smooth running of the business
13. Poor/ inadequate infrastructure which may hinder access the market/ inputs/
14. Lack of planning to accommodate future changes.
15. Misallocation/misappropriation of resources leading to wastages/ misuse of
resources.
16. Poor customer relation/ care leading to loss of market.
17. Poor time management which may cause loss of business opportunities/ inabilities to
accomplish tasks.
Q21.Factor to be considered when evaluating business ideas

1. Profit to be earned in order to cover all operational expenses
2. Technology to be used in producing the product
3. Availability of market/demand which should be adequate
4. Government policy/legal requirement which should be favorable
5. Channel of distribution to ensure the products is available in the market
6. Competition which should be fair
7. Capital which should be adequate to start
8. Input/supplies which should be minimal
9. Payback period which should be reasonable in relation to amounts invested
Q22.Circumstances under which an entrepreneur would prepare a business plan
1. When attracting funding- it is used to attract funding from potential investors and
lenders as it justifies the viability of the business.
2. When one wants to avoid mistakes- it minimizes the impact of disruption of business
activities as a result of unforeseen circumstances b7y anticipating challenges and
possible setbacks.
3. When one wants a blueprint for starting and operating a business.-It guides the
owner/management„s decision and actions on day to day business.
4. When a tool for evaluation is required – It is used to evaluate business performance
to see if it„s achieving the set objectives
5. When the owners wants to determine the finances required to start the business
6. When identifying customers. It enables one to target appropriate customers to buy
the product.
Q23. Small business owner can avoid some of the common pitfalls that lead to
business failure by:
1. Knowing the business in depth
2. Developing a solid business plan
3. Managing financial resources
4. Understanding financial statements

5. Learning to manage people effectively
Q24.In order to organize and run a business successfully, an entrepreneur must

possess certain traits important for driving success. Some of them are:
Self-confidence: Others will trust you only when you trust yourself. This is the most
important trait of an entrepreneur, who should have the confidence to take one‟s own
decisions.
Risk-taking ability: Business is all about taking risks and experimenting.
Entrepreneurs need to have a risk-taking ability.
Decision-making ability: Entrepreneurs should have the willingness and capability
to take decisions in favor of the organization all the time.
Competitive: Entrepreneurs should always be ready to give and face competition.
Intelligent: Entrepreneurs always need to keep their mind active and increase their
IQ and knowledge.
Visualization: Entrepreneurs should have the ability to see things from different
point of views.
Patience: This is another virtue which is very important for entrepreneurship as the
path to success is often very challenging and it requires a lot of patience for
sustenance.
Emotional tolerance: The ability to balance professional and personal life and not
mixing the two is another important trait of an entrepreneur.
Leadership quality: Entrepreneurs should be able to lead, control and motivate the
mass.
Technical skill: To be in stride with the recent times, entrepreneurs should at least
have a basic knowledge about the technologies that are to be used.
Managerial skill: Entrepreneurs should have the required skill to manage different
people such as clients, employees, co-workers, competitors, etc.
Conflict resolution skill: Entrepreneurs should be able to resolve any type of

dispute.
Organizing skill: They should be highly organized and should be able to maintain
everything in a format and style.
High motivation: Entrepreneurs should have high level of motivation. They should
be able to encourage everyone to give their level best.
Creative: They should be innovative and invite new creative ideas from others as
well.
Reality-oriented: They should be practical and have rational thinking.
SELF-ASSESSMENT QUESTIONS
1. How creativity, innovation, and entrepreneurship are related?
2. What contributions does entrepreneurship have for the economic development of the
country?
3. Can entrepreneurship be a career option?
4. What are the major causes for failure of most small business?
5. How can the small business owner avoid the common pitfalls that lead to business
failure?
6. What crucial roles do you think from the well managed small business?
7. What do you understand by the term business opportunity? What is its relevance for
an entrepreneur?
.
8) Do you think it is important for an entrepreneur to scan for opportunities in the small
scale sectors? Give reasons.
9. In your opinion what precautions should a potential entrepreneur take at the Idea
Generation Stage in an ever-changing business environment?
NATIONAL EXAM OF HIGHER NATIONAL DIPLOMA-NEW

PROGRAM-2020 SESSION
Specialty/Option: All Specialties
Paper: enterprise creation and entrepreneurship
Duration: 2hours Credit: 1/2
Instructions: Answer All Questions
SECTION A: ENTREPRENEURSHIP (34MKS)
Question 1
Define the following terms as use din entrepreneurship (4mks)
a) Franchise
b) Family business
c) Risk
d) Business idea
Question 2
Identify and explain the stages involved in the entrepreneurial process (10mks)
Question 3
What are some of the challenges to entrepreneurship in Cameroon and how do you think
you can overcome them as an entrepreneur? (10mks)
Question 4
a) Identify any five (05) components of a business plan (5mks)
b) Why is a business plan important for an entrepreneur? (5mks)
SECTION B: GENERAL ECONOMICS (33MKS)
Question 1
Briefly distinguish a market economy from a planned economy. (4mks)
Question 2
State and explain any three (03) factors that affect price elasticity of demand. (6mks)
Question 3
In modern days, commercial banking occupies an important place in every economy. It
is an important constituent of a country‟s financial system.
a) Define a commercial bank citing two examples in Cameroon (3mks)
b) What are the main functions of a commercial bank? (10mks)
Question 4
Identify and explain any five (05) functions of money (10mks)
SECTION C: COMPANY LAW (33MKS)
Question 1
After explaining what you understand by company law, explain four reasons why it is
important (10mks)
Question 2
Briefly describe four (04) types of companies provided by the OHADA law (12mks)
Question 3
A company is distinct from its members when it acquired the status of a legal
personality. State and explain three (03) reasons under which this rule can be violated.
(6mks)
Question 4
Identify and define any five (05) required documents for the successful registration of a
company (10mks)
HND 2020 — NEW PROGRAM
ENTERPRISE CREATION AND EINTREPRENEURSHIP MARKING GUIDE
SECTION A: ENTREPRENEURSHIP
Ql. Define the following terms:

- A franchise is another form of starting up a business as a kind of contractual
arrangement where the franchisor authorizes the franchisee to use its patented rights,
trade marks, processes and technology to produce goods and services, according to the
franchisor's specifications and standards and pay a fee in return called royalty.
Franchising is a form of licensing- in which one firm contract with another to operate a
certain type of business under an established name according to specific rules, with a
carefully developed marketing strategy.
a) - A family business is a business in which one or more members of one or more

families have a significant interest and significant commitment towards the business
overall wellbeing
Family business is a business owned and run by one or more members of a family,
who are committed to the success of the business.
C) Risk is defined as the chance that an undesirable event will occur with unpredictable
outcome.
D) An idea is any thought that can lead to a startup of any business. It can also be
regarded as a concept, because a concept is a clear and unambiguous idea that can be
translated into a business.
- An idea could equally be a thought that serves as a solution to a problem that exist
in the community or society or an acceptable solution to the needs and desires of
the customers.
Q2) What are the stages involved in entrepreneurial process:
i) Idea generation: a concept that can be translated into a business;

ii) Idea screening or opportunity evaluation/feasibility studies: this involve assessing
the various alternatives associated to the idea to ensure the business will not bring
loses
iii) Selecting the best opportunity; this is the choosing of the most rewarding alternative
to embark- on
iv) Drawing up a business plan; a roadmap that will guide the implementation of the
activities
v) Implementing the plan or business venture; putting into action the plan using the
resources
Stating = 1pt and explaining = 1pt per each stage (2 x 5 = 10pts)
Q3) Challenges of entrepreneurship in Cameroon are:
- Inadequate capital: lack of collateral limits chances of borrowing and as a solution,

government can subsidize, provide funding
- Lack entrepreneurial skills in the form of managerial skills, financial management

skills, record or book keeping skills, etc. the solution here is to provide training to
entrepreneurs
- Lack of infrastructures in the form of farm to market roads. The

solution is to provide infrastructure
- Unstable economic and environmental factors: inflation, exchange rate fluctuations,

economic recessions.
- High levels of corruption and administrative bottlenecks or red tape. The solution is
to punish corruption and encourage good governance.
- Unfavorable government policies. The solution is to readjust government policies

to favour startups.
Any five explained pts = 1 x 5 = 5mks and any five relevant solutions = 1 x 5 =
5mks
Q4) a) Five components of a business plan:
I. Executive summary: A concise summary of the relevant points of the business plan
involving the description of the business model. Target markets, benefits to
customers, qualifications of founders and key employees, sales and earnings
projections, capital required, ROL, repayment of loans, competitive edge.
II. Mission statement, vision, objectives, business strategy, etc
III. Business environment analysis; the use of SWOT to analyze the forces surrounding
the development and growth of the business
IV. Production analysis deals with the nice blend of resources to produce the goods
and services at the cheapest rate. This involves the mixture of equipment, labour
and other components to produce at the cheapest cost possible.
V. Market and Marketing analysis; this involve assessing needs of potential
customers, how to meet the needs, classification of the needs, integration of
these needs in the business, methods of selling, advertisement and communicating
with the customers, creating productive distribution channels, determining products,
services and benefits to be derived, etc.
Defining the target market by clearly identifying the location, characteristics and the size
of the people who are favourably disposed to buy the product or service.
VI. Description of the management team by selecting the right caliber of staff, who
must be honest, hardworking and possess some talents to bring into the success of
the enterprise at various levels of the organization. Defining their specific duties
and authorities, salaries and wages etc.
VII. Financial analysis: Should involve income statements, sources of finance,

cash flow statements, types of securities used, etc.
Any five = 1 x 5 = 5mks
B) Importance of a business plan includes:
I. It is a roadmap to success;
II. It makes entrepreneurs to stay focus;
III. It attracts investors;

IV. It fuels ambitions;
V. It helps to allocate resources effectively;
VI. It fosters startups for growth;
VII. It prevents the risk of investing in an unprofitable venture
VIII. It provides targets against which performance can be measured
Any five = 1 x 5 = 5mks
SECTION B: GENERAL ECONOMICS
Q1) A market economy is an economic system where the prices of goods and services
are entirely determined by the interaction of the forces of demand and supply. 2mks
While the centrally planned or command economy is a system where every economic
decision is made by the government. Prices are fixed and the supply of gods and
services in controlled. 2mks.
Q2) State and explain three factors that affect elasticity of demand.
I. Time; many items are bought as a result of habit so that in the short run price
changes will be of little importance, a new pattern of demand could emerge once
consumers have been able to assess the availability of alternatives.
I. Taste and fashion; the frequent the changes in consumer tastes and fashion the
more elastic the demand.
II. The amount of income spent on the good; the higher the proportion, the more
inelastic the demand
III. Price; very expensive goods tend to be inelastic
IV. The number of substitutes; when there are a large number of close substitutes,
demand is likely to be elastic.
Any three = 2 x 3 = 6mks
Q3. A) A Commercial bank is a financial institution offering financial services to the

public for profit maximization. 2mks
Examples of commercial banks include: SGC BANK, UBa PLC, BICEC, NFC PLC,
UBC, AFRILAND FIRST BANK, Etc 0.5 x 2 = 1mk
a) The main functions of a commercial bank are:

 Accepting deposits
 Issuing loans
2 x 5 = 10mks
Other functions:
 Acting as agents of payment
 Advisory functions
 Safeguarding functions
 Buying and selling stocks
 Acts as executors of trustees
 Issue bank drafts
 Helps in raising capital for companies
Q4 Identify and explain five characteristics of money:
 Medium of exchange;
 Measure of value
 Store of value
 Legal tender
 Standard of deferred payment
 Medium of exchange: The most important function of money is that it acts as a

medium of exchange. Money is accepted freely in exchange for all other goods.
Barter system is very inconvenient. So the introduction of money has got over the
difficulty of barter.
 Measure of value: Money acts as a common measure of value. It is a unit of
account and a standard of measurement. Whenever we buy a god in the
market, we pay a price for it in money. And price is nothing but value
expressed in terms of money. So we can measure the value of a good by
money we pay for it. Just as we use yards and meters for measuring length ,
and pounds for measuring weights, we use money for measuring the value of goods. It
makes economic calculations easy.
 Store of value: A man who wants to store his wealth in some convenient form will
find money admirably suitable for the purpose. It acts as a store of value. Suppose the
wealth of a man is cattle, he cannot preserve his wealth in the form of cattle. But he
can sell his cattle, get money for that and can store his wealth in the form of money.
 Standard of deferred payments: It forms the basis for credit transactions.
Business in modern times is based on credit to a large extent. This is facilitated by
the existence of money. In credit, since payment is made at a future date, there
must be some medium which will have as far as possible the same power in
future as at present.
 Money as legal tender. Compels everybody to accept it. As it is backed by law.
(2x5= 10mks)
6
SECTION C: COMPANY LAW

Company law is a set of laws that control how a business is formed and
managed (2mks)
The importance of company law:
 It helps to guide the entrepreneurs on the procedures to follow to start up a business
 It serves as guidelines to business operators
 It helps the business man to stay focus
 It helps to establish the legitimacy of a business
 It helps government to keep a tract record of established businesses in the economy
Any 4 x 2 = 8mks
Q2. Describe jour types of companies:
I. Sole proprietorships: a business that has one owner. It can trade under the
owner‟s or a business name. This type of business is easy to set up, because
there are no legal fees, there are also fewer regulations concerning accounts
and the owner has freedom to make decisions.
II. Partnerships are businesses that must have at least two owners, and can
in most cases have up to maximum of 20, with the exception of firms of
accountants, solicitors and stock exchange members for which there is no
legal limit. Some partnerships are used to offer wider services by
professional people like doctors, dentists and solicitors.
Partners may trade under the names of the partners or under a business name.
III. Limited Liability companies are owned by shareholders. There must be at
least two shareholders but there is no legal maximum.
A limited company must be registered with a registrar of companies. It is a separate
legal entity, that means it can sue and be sued to court and must sent financial
information to the company‟s house.
The shareholders elect a board of directors to run the company on their behalf Etc. if
the company runs into financial difficulties and goes into liquidation, the
shareholders stand to lose, at most, only the amount they have invested in the
business. Their liability is limited to this amount.
There both private limited companies (Ltd) and public limited companies
(Plcs):
Private Limited companies (Ltd) these may not offer their shares to the general
public. They tend to be smaller than Plcs.
Pubic Limited Companies (Plcs) may offer their shares to the general public, often
through the stock exchange.
IV. A Co-operative is a business owned and operated by its members. Each
member of a co-operative can:
 Vote at meetings
 Take part in making decisions and receive a share of profits
V. Social (non for profit organizations) organizations most of them operated in the
voluntary sectors.
VI. Public corporations: These are government controlled because they fall in
strategic areas of the economy, needs heavy capital investments, they may be
natural monopolies which could be exploited by private owners for profits and
may be essential services which may be run for the benefits of the community.
VII. Holding companies (these are companies that have grown to have
subsidiaries)
Any 4x3=12mks
Q3) Reasons for violation of legal personality
 When they violate their articles of association;
 When they carryout activities out of their objectives;
 Where membership is less than two, it becomes one man business and loses legal
personality
 The non-usage of the name of the institution in legal matters;

 Non adherence to legal rules and regulations (lack of legal compliance).
Any 3 x 2 = 6mks
Q4 Identify and define any five required documents for the successful
registration of a business:
I. Article of Association
II. Memorandum of Association
III. Prospectus:
IV. Certificate of Incorporation
V. Certificate of trading
(5 x 2 = 10mks)
PAST HND QUESTIONS ON BUSINESS CREATION AND

ENTREPRENEURSHIP
HND 2021
OPTION: ALL
SECTION A: ENTREPRENEURSHIP (30 MARKS)
QUESTION 1
The main skills are important for an entrepreneur to succeed:
Ability to plan
Basic management skills
Creativity
Self confidence
a) Analyze any of the two skill above with concrete examples 15 marks
b) State the importance and inconvenience of postgraduate education for
entrepreneurship 15 marks
SECTION B: GENERAL ECONOMICS (30 MARKS)

a) Differentiate the types of enterprise according to sizes 10 marks
b) Prepare a business plan for an enterprise that supposed to pay a short term loan
of 600,000frs for 3 months and has a cash flow of 100,000frs per week, 50,000frs
rent per month, VAT of 20,000frs per month, wages of 100,000frs per month 10
marks
c) Should the business take the loan or not? 10 marks
SECTION C: COMPANY LAW (40 MARKS)
1. Expatiate on the different steps to be followed to create a business entity in
Cameroon 10 marks
2. Examine the causes and consequences of dissolution in a company 20 marks
3. Briefly explain the pecuniary and non-pecuniary rights of the shareholders in
company 10 marks
MAKING GUIDE
ENTREPRENEURSHIP
Ability to plan
● Planning means identifying all the activities to be carried out and then providing
the resources to carry out these activities.
● Therefore, an entrepreneur should have the ability to identify them. Appropriate
activities and be able to acquire the resources in terms of financial, human and
equipment to carry out the activities at the appropriate time.
● Ability to forecast, plan, organize, supervise, coordinate and control and provide
feedback.
Basic management skills
● Technical skills: have the people with the right technical skills in place
● Conceptual skills: ability to visualize how the whole organization functions
● Interpersonal skills: ability to motivate all the workers working together in
harmony.
Creativity is the ability to develop new ideas and to discover new ways of looking at
problems and opportunities. Ability to bring innovations in business. E.g Amour mezam
agency introduces online booking, it is a new idea in the transport business in
Cameroon.
Self-confidence- Entrepreneurs should develop a high level of optimism for success,
high self-esteem, resilience etc.
B. The importance of postgraduate education for entrepreneurship include
● Gaining expertise to carry out feasibility studies
● Gaining good training and skills to better manage the business
● Gaining good customer service skills and interpersonal relations skills
● Gaining skills in performing consultancy services for the business that would have
been better contracted externally against payment of money.
● May easily raise capital from consultancy services to start his business. E.g a
chartered accountant, financial analyst, project or financial institution etc
Disadvantages
1. Much money is spent on postgraduate studies that would have constituted capital for
new venture.
2. You still have to face difficulties raising capital to start a new venture after studies.
3. Highly educated people may feel too big to learn again and this might hinder their
growth.
4. May become arrogant thinking they are too much
5. May not go low to convince certain customers to buy their products because they
feel too big for that.
GENERAL ECONOMICS
A) Differentiating enterprises by size (stating 1 mark, explaining 1.5 marks)
Micro
Small
Medium
Large
B) CASH FLOW STATEMENT
Cash Receipts per Month (FRS) 400,000 2mks
Minus Cash Disbursements
Rents 50,000
Vat 20,000
Wages 100.000 2mks
Total Dis bu rsem ents 170,000
BALANCE 230,000
Minus Borrowing Repayment 200,000 2mks
Balance at the Endof Month 30.000 2mks
Surplus for Three Months = 30,000 x 3 = 90.000FRS 2mks
Or putting it in a tabular method;
Income Expenditures
100 000frs per week Loan = 600 000frs for 3 months
Rent = 50 0001rs per month
VAT = 20 000frs per month
Wages = 100 000frs per month
Income for 3 moths =(100 600 000 + (50 000•3moths = 150
000*4weeks*3momths) =1,200 000) + (20 000*3months = 60 000) +
000FRS (100 000*3months = 3000 000) =i
1,110 000FRS
ANNUAL PROFIT = INCOME — EXPENDITURES

= 1.200 000FRS — 1,110 000FRS
= 90 000FRS
C. i) YES, the business should take the loan = SMKS
u) The business should take the loan because it will be able to retire the
loan at the end of the third month and still have a surplus of 90.000FRS. SMKS
Section C: COMPANY LAW
WHAT ARE THE CHARACTERISTICS OF COMPANY LAW
 Incorporated Association
 Separate Legal Entity
 Artificial Person
 Limited Liability
 Perpetual Existence
 Common Seal
 Management and Ownership
 Transferability of shares
WHAT ARE THE AREAS OF COMPANY LAW AN ENTRENEUR SHOULD

KNOW?
 Business Structure Law
 Zoning Laws
 Licensing Law
 Trademark and Patent Laws
 Employment Laws
 Tax Laws
 Environmental Laws
 Health Department Permits
 Fire Department Permits and Air and Water Pollution Control Permits
OUTLINE THE IMPORTANCE OF COMPANY LAW KNOWLEDGE TO AN
ENTREPRENEUR
1) The prime purpose of business law is to maintain order
2) For starters, the importance of business law hinges
3) It helps the entrepreneur to cut costs
4) Law strengthens the business
5) A Universal set of standards

6) Maintenance
7) Less chances of frauds
8) Presence of Ethical conduct
9) Protects businesses from having products copied (patent)
10) Protects employers from customers (from deception)
WHAT ARE THE BENEFITS OF OHADA

 The Migration of investment risks
WHAT SHOULD PROMOTERS LOOK OUT FOR PRIOR TO REGISTER A
COMPANY IN CCAMEROON
1) The name of the company should not be against public policy
2) The shareholder should be 18years and above
3) The shareholders should not be bankrupt, insane or have a criminal record
What Are The Types Of Companies To Register In Cameroon
1) Sole Proprietorship
2) Partnership
3) Private limited companies
4) Public companies
SETTING UP A COMPANY IN CAMEROON: HUMAN RESOURCE
MANAGEMENT
 Working Contract
 Minimum Wage
 Average wage
 Legal Weekly Working Duration
 Contributions Paid
WHAT ARE THE ACCOUNTING AND TAX FOR COMPANY REGISTERED

IN CAMEROON
 Tax Year
 Accounting Standards
 Accounting Reports
 Publication Requirements
 Professional Accountancy bodies
 Certification and Auditing
WHAT ARE THE TAX REQUIREMENTS TO REGISTER A COMPANY IN
CAMEROON?
1) Simplified Tax Regime
2) Actual Earnings Tax Regime
WHAT ARE THE CHARACTERISTICS OR FEATURES OF SOLE

PROPRIETORSHIP
 Ownership
 Objective
 Source of capital
 Liability
 Legal Entity
 Management
 Life span
WHAT ARE THE ADVANTAGES OF SOLE PROPRIETORSHIP
 It involves small capital
 Easy to establish
 Decision making
 It is easy to manage
 All profits belong to the owner
 It can thrive in all business environments

 There is privacy in conducting business affairs
 There is close relationship between the owner and employees
 There is close relationship the owner and customers
 The business pays little or no tax
WHAT ARE THE DISADVANTAGES OF SOLE PROPRIETORSHIP

 Problem of continuity
 Inadequate capital
 The sole proprietor has unlimited liability
 He bears all the risks alone
 He lacks specialization
 It is not a separate legal entity
 There is limitation in expansion
WHAT ARE THE CHARACTERISTICS OR FEATURES OF PARTNERSHIP

 Two to twenty partners own the partnership
 Partners share the profits either equally or according to the partnership deed
 Management and Control
 Provision of Capital
 The main objective of the partnership is to make profit
 liabilities
WHAT ARE THE TYPES OF PARTNERSHIP
 Limited Partnership
 Ordinary or General Partnership
WHAT ARE KIND OF PARTNERS
a) Limited Partners
b) Ordinary or General Partners
c) Active Partners
d) Nominal or Quasi Partners

e) Sleeping or Dormant Partners
WHAT ARE THE CHARACTERISTICS OR FEATURES OF PUBLIC

COMPANY
i. It is a legal entity
ii. Liability
iii. Transferability of shares
iv. Formation
v. Registered under the company Acts with Plc.
vi. Appeal to the public
vii. Number of shareholders
viii. Preparation of annual accounts
WHAT ARE THE ADVANTAGES OF PUBLIC LIMITED COMPANY

1. The capital is very large
2. Each shareholder has limited liability
3. The risks of the business
4. The capital of the company cannot be withdrawn
5. This form of business gives people
6. Greater specialization
7. Greater possibility of continuity
8. Many banks prefer to grant loans to public
WHAT ARE THE PRINCIPLES OF CORPORATE PERSONALITY
A) Independent Corporate Existence
B) The Company Can Loan Money On Its Name
C) Limited Liability
D) The Company Can Buy And Own Property in Its Name
E) Transferability of Shares
F) Perpetual Succession
G) Centralized Management
H) Capacity to use and sue and be sued
WHAT ARE THE MAIN INSTACES OF LIFTING OR PIECING THE VEIL OF
CORPORATION
1. Decrease In Membership To Less Than Two
2. When The Company Is Involved In Fraudulent Trading
3. Evasion Of Legal Obligations (Tax Evasion )
4. When There Is No Real Separation Between The Company And Its Owners.
5. Where A Company Is An Agent Or Where There Is Implied Agency
6. The Company‟s Creditors Suffered An Unjust Cost
7. The Company‟s Actions Were Wrongful Or Fraudulent
8. Trusteeship
WHAT ARE THE PECUNIARY AND NON-PECUNIARY RIGHTS OF
SHAREHOLDERS
A) NON-PRECUNIARY RIGHT
1) Right To Influence Management
2) Right To Vote
3) The Right To Sue For Wrongful Acts
4) Right To Participate In Shareholders‟ Meetings
5) Right To Request That A Shareholders‟ Meeting Be Convened
6) Right To Add Items To The Agenda And To Table Draft Resolutions
7) right to ask questions
8) Information Right
B) PECUNIARY RIGHTS
1) Right To Share In Profitability
2) Rights To Income Distributions Through Dividend Payments
3) Right To Buy New Shares

4) Conversion Right
5) Liquidation
6) Preferential Subscription Right
WHAT ARE THE THINGS YOU DO BEFORE CLOSING DOWN A
COMPANY?
 Cease trading
 Inform relevant parties
 Make staff redundant
 Sell company assets and stock
 Prepare your final accounts
 Settle any tax liabilities
 Deregister from company taxes
 Terminates contracts and close company bank accounts
WHAT ARE THE TYPES OF LIQUIDATION
 A Creditors‟ Voluntary Liquidation(“ C v l”)
 A Members‟ Voluntary Liquidation(“M v l”)
 Compulsory Liquidation
WHAT IS ENTREPRENEURSHIP?
HOW CAN MANAGERS PROMOTE INTRAPRNEURSHIP
1) They Need To Understand The Term Properly
2) Managers Should Be Equipped
3) They Recognize Entrepreneurial Traits
4) They Should Define And Communicate The Mission And The Vision
5) They Should Give People Creative Tasks
6) They Should Assign Responsibilities And Owners
OUTLINE CHALLENGES OF INTRAPREUEURSHIP

 Leadership Commitment
 Time And Resources
 Competing With Internal Roadblocks
 Lack Of Innovation Processes
OUTLINE THE CHARACTERISTICS OF BUSINESS ENTERPRISES

 Sale, Transfer Or Exchange
 Dealings In Goods And Services
 Regular Dealings
 Profit Motive
 Risk
 Creation Of Utilities
 Economic Activity
 Satisfaction Of Consumers
 Growth And Expansion
 Social Institution
OUTLINE THE CLASSIFICATION OF BUSINESSES BY OWNERSHIP

1) Sole Proprietorship
2) Partnership
3) Private Limited Company
4) Public Limited Company
OUTLINE THE CLASSIFICATION OF BUSINESSES BY ENTERPRISES
 Micro Enterprise
 Small Enterprise
 Medium Size Enterprise
 Language Enterprise
OUTLINE THE CLASSIFICATION OF BUSINESSES BY SECTORS OF THE

ECONOMY
1) PRIMARY SECTOR
Examples of the extractive
Examples of conversion
2) SECONDARY SECTOR
Examples of manufacturing
Examples of processing
Examples of construction
3) TERTIARY SECTOR
Examples of industries in the tertiary sector
4) QUATERNARY SECTOR
Examples of quaternary
5) QUINARY SECTOR
OUTLINE THE CLASSIFICATION OF BUSINESSES BY TYPES OF

PRODUCTS
What is a good?
What is a service?
1) Consumer Goods
 Durable consumer goods
 Perishable consumer goods
2) Consumer Services
3) Producer Goods
4) Producer Services
CLASSIFICATION OF BUSINESSES BY AREA OF OPERATION

1) Local Businesses
2) National Businesses
3) International/Multinational Businesses
OUTLINE THE CLASSIFICATION OF BUSINESSES BY BUSINESS

OBJECTIVES
1) Profit-making Organizations
2) Not-for-profit Organizations
3) Charitable Organizations
4) Public Service Organizations
WHAT ARE THE VARIOUS DEPARTMENTS IN A BUSINESS ENTERPRISE

AND THEIR FUNCTIONS
1) The Administration Department
2) The Customer Service Department
3) The Distribution Department
4) The Accounting And Finance Department
5) The Human Resource ( H R ) Department
6) The I C T Department
7) The Marketing Department
8) The Sales Department
9) The Production Department
10) The Research And Development ( R and D ) Department
BRING OUT THE PRINCIPLES OF BUSINESS ETHICS

 Honesty
 Fairness
 Leadership
 Integrity
 Compassion
 Respect
 Responsibility
 Loyalty
 Law-Abiding
 Accountability
 Transparency
OUTLINE THE TYPES OF SOCIAL RESPONSIBILITY

 Environmental Responsibility
 Ethical Responsibility
 Philanthropic Responsibility
 Economic Responsibility
OUTLINE THE IMPORTANCE OF BUSINESS ETHICS FOR THE

ENTREPRENEUR
1) Enhance Business Reputation
2) Positive Work Environment
3) Improves Customer Happiness
4) Retain Good Employees
5) Built Investor Loyalty
6) Avoid Legal Problems
7) Built Customer Loyalty
OUTLINE THE IMPORTANCE OF CORPORATE SOCIAL RESPONSIBILITY
 C S R contributes to creating a good business environment
 C S R increases attraction for investors
 C S R builds trust and good name for the company
 C S R allows to gain competitive advantage and increase customer
 C S R reduces costs
 C S R improves risk management and reduces the cost of risk

 C S R can attract new partners
 C S R allows to become a “ preferred supplier
 C S R allows to increase the performance of the supplier- customer relationship
OUTLINE HOW TO ENCOURAGE ETHICAL BEHAVIOUR IN THE WORK
PLACE
1. Be A Role Model And Be Visible
2. Communicate Ethical Expectations
3. Offer Ethics Training
4. Visibly Reward Ethical Acts And Punish Unethical Ones
5. Provide Protective Mechanisms
6. Enhancing The Workplace
7. Move With The Times
OUTLINE THE COMPONENT/ TYPES OF FEASIBILITY STUDY
 Technical Feasibility
 Economic Feasibility
 Legal Feasibility
 Operational Feasibility
 Scheduling Feasibility
OUTLINE THE SIX ELEMENTS OF A FEASIBILITY STUDY
1) Project code
2) Current analysis
3) Requirements
4) Approach
5) Evaluation
6) Review
OUTLINE THE STEPS IN WRITING A F S R
 Write Project Description

 Describe Possible Solutions
 List Evaluation Criteria
 Propose The Most Feasible Solution
 Write Conclusions
OUTRLINE THE IMPORTANCE OF F S R

 It helps in providing legal and technical evidence
 The report allows the senior management
 A well-written feasibility
 F S R helps link project efficiency
 The report can be used by senior management
OUTLINE THE MAIN PURPOSES OF A BUSINESS PLAN

1) To Test The Feasibility Of Your Business Idea
2) To Maintain Business Focus
3) To Secure External Finances
4) To Fuel Your Ambitions
5) To Attract Executives
6) To Attract Investors
OUTLINE THE TYPES OF BUSINESS PLAN
1. Internal business plans
2. External business plans
OUTLINE THE TYPES BUSINESS BASED ON THE SCOPE

1) Standard business plans
2) Lean business plans
OUTLINE THE TYPES OF BUSINESS PLANS BASED ON PURPOSE AND

FORMAT
1. One-Page Business Plans/Miniplan

2. Startup Plan
3. Strategic Plan
4. Feasibility Plan
5. Operations Plan
6. Growth/Expansion Plan
7. What-If Business Plan
FIELD BUSINESS, FINANCE, – AND MANAGEMENT
SPECIALTY ALL HND

SPECIALTIES
PAPER ENTERPRISE CREATION AND
ENTREPRENEURSHIP
PAPER CODE ECE21
CREDIT 01
VALUE
DURATION 2 Hours
INSTRUCTIONS
1. This paper carries three sections. You are required to answer all questions.
2. You are reminded of the necessity for good English and orderly presentation in
your answers.
3. Any student who attempt to fraud or caught cheating shall be penalized till further
noticed.
SECTION 1: ENTREPRENEURSHIP (34%)
1. Differentiate between a business model and a business plan. (4 marks)
The business model is the mechanism through which the company generates its
profit while the business plan is a document presenting the company's strategy
and expected financial performance for the years to come.
ii. In not more than one page, develop a business plan for the creation of a
professional institution (Future Institute), by Njamgang. (10 marks)
➢ Students are expected to develop their plan in the following or a similar guide.
- Executive summary -- a snapshot of your business

- Company description -- describes what you do
- Market analysis - research on your industry, market and competitors

- Organization and management -- your business and
management structure
- Service or product -- the products or services you’re offering
- Marketing and sales -- how you’ll market your business and your sales strategy
- Funding request -- how much money you’ll need for next 3 to 5 years
- Financial projections -- supply information like balance sheets
- Appendix -- an optional section that includes résumés and permits
2. What are the requirements of starting a new company in Cameroon? (10 marks)
- Registration of the company in the Trade and Personal Property Credit Register
(RCCM)
- A business license (patent) that should be acquired from the Taxation
Department by paying an annual fee.
- Obtainable A tax number from the Taxation Department.
- Register the employees along with company at the National Social Insurance
Fund (CNPS) and the Labour Office.
3. Examine five ways through which entrepreneurship has foster the rate of
economic growth in Cameroon. (5 marks)
- Improvement in per capita income/wealth generation:
- Generation of employment opportunities
- Balanced Regional Development
- Enhance the number of enterprise
- Economic Independence
ii. Outline five policy measures and developmental strategies that can be put in place
to speed up the rate of entrepreneurship in Cameroon. (5 marks)
- Intellectual Property Rights
- Inclusion of entrepreneurship within school curricula
- Reduced burden on business formation
- Access to funding for SME's and Start-ups

- Incentivised Tax Laws
SECTION 2: GENERAL ECONOMICS (33%)
4. Differentiate between micro and macroeconomics. (3 marks)
- Equitable distribution of income and wealth
Microeconomics studies the behaviour of individual house olds and firms in
making decisions on the allocation of limited resources. Macroeconomics is the
study of economies on the national, regional or global scale
ii. Identify five macro-economic objectives and five policies that can be implemented
by the central or local government in order to achieve such objectives. (10 marks)
5. Illustrate the concept of scarcity, choice and opportunity cost using a
transformational curve. (5 marks)
Students should explain with the aid of a PPC the view that each production
combination is a choice and one cannot increase the production of one good
without reducing the other once on its PPC because resources are scare and one a
choice is made, there is an opportunity cost.
ii. Justify whether or not Cameroon has attended its PPC. State five factors that can
cause a country to expand beyond its PPC. (5 marks)
- Cameroon has not yet attended its PPC because there are still idle
resource Factors that can cause country to expand beyond its PPC
- Advance in Technology
- Division of Labour
- Discovery of New Production Methods
- Increases its Labour Force

- Discovery of New Raw Materials:
6. To what extent does unemployment impact the level of economic growth and
development? (5 marks)
In the short run, the relationship between economic growth and the unemployment rate
may be a loose one. It is not unusual for the unemployment rate to show sustained
decline sometime after other broad measures of economic activity have turned positive.
Hence, it is commonly referred to as a lagging economic indicator. One reason that
unemployment may not fall appreciably when economic growth first picks up after a
recession’s end is that some firms may have underutilized employees on their
payrolls because laying off workers when product demand declines and rehiring them
when product demand improves has costs. As a result, employers may initially be able
to increase output to meet rising demand at the outset of a recovery without hiring
additional workers by raising the productivity of their current employees. This
temporarily boosts labor productivity growth above its trend (long-run) rate.
7. Define price determination and explain three methods of determining prices
goods and service in the market. (5 marks)
This refers to the way prices of goods and services are distributed to the members
of the society needing them. This can be done by method of auction (the highest
bidder determines the price), rationing (gov’t fixed a max price control), price
mechanism (bargain between buyer and seller).
8. Differentiate between liquidation, dissolution and winding up of a company (3
marks)
- Liquidation in finance and economics is the process of bringing a business to
an end and distributing its assets to claimants.
- The term dissolution refers to the systemic closing down of a business entity
- Winding up refers to the selling of assets a d payment of debts prior to closing

a business.
SECTION3: COMPANYLAW(33%)
ii. Identify and briefly explain the steps involved in the dissolution of a
company (10 marks)
- Decide to close
- File dissolution documents
- Cancel registrations, permits, licenses, and business names
- Comply with employ ent and labor laws
- Resolve financi l obligations.
- Maintain records.
9. Define quorum and outline four features of a quorum (5 marks)
Quorum means the minimum number of persons who being entitled to attend a
meeting must be present at the meeting so that the business of the meeting can be
transacted validly. Such a number is desirable so that a meeting gets a
representative character and no decisions are taken with a very small number of
persons being present.
- What shall be the quorum for different types of meetings of an organisation are
usually mentioned in its bye-laws or in the Articles of Association in case of a
company? Some statutes also make such provisions.
- A meeting cannot be started if quorum is not present. The quorum might be
continuously present. If any member or members leaves or leave earlier and by that
the quorum falls, then any decision taken afterwards will not be binding, if the by-
laws or Articles so provide.
- It is the duty of the chairman to see that the quorum is present. The secretary helps
him in counting the quorum. If at the middle of the meeting quorum falls, any
member present may draw the attention of the chairman to this fact by raising a
‘point of order’.
- If quorum is not present at the scheduled hour of a meeting already notified, then the
members present will wait for half an hour.
ii. Elaborate on the ultra-vires doctrine and say why it was abolished (5 marks)
The Doctrine of Ultra Vires is a fundamental rule of Company Law. It states that the
objects of a company, as specified in its Memorandum of Association, can be departed
from only to the extent permitted by the Act. Hence, if the company does an act, or
enters into a contract beyond the powers of the directors and/or the company itself, then
the said act/contract is void and not legally binding on the company.
Why it was abolished
Based on the initial discussion of facts the author concludes that the doctrine of ultra
vires no longer serves its original purpose of protecting shareholders and creditors by
assuring that the company assets will only be used to achieve the purpose/s specified in
the objects clause.
10. Identify the procedure and required documents for the registration of a sole
proprietorship in
Cameroon. (10 marks)
- Registration of the company the Trade and Personal Property Credit Register
(RCCM)
- A business license (patent) that should be acquire d from the Taxation Department
by paying an annual fee.
- Obtainable A tax number from the Taxation Department
- Register the employees along with company at the National Social Insurance Fund
(CNPS) and the Labour Office

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Revision Questions for Enterprise creation (All options) HND

QUESTIONS AND GUIDE FOR ENTREPRENEURSHIP

2. When one wants to avoid mistakes- it minimizes the impact of disruption of

Q6 what are some Reasons for the establishment of a business enterprise .

9. Poor customer relations

Q12.Identify Factors that may hinder entrepreneurship development in Cameroon

4. There will be poor allocation of resources

7. Proper allocation of business sources

7. Poor infrastructure such as poor road network

Q21.Factor to be considered when evaluating business ideas

4. Understanding financial statements

Q24.In order to organize and run a business successfully, an entrepreneur must

Conflict resolution skill: Entrepreneurs should be able to resolve any type of

NATIONAL EXAM OF HIGHER NATIONAL DIPLOMA-NEW

HND 2020 — NEW PROGRAM

ENTERPRISE CREATION AND EINTREPRENEURSHIP MARKING GUIDE

Ql. Define the following terms:

a) - A family business is a business in which one or more members of one or more

Q2) What are the stages involved in entrepreneurial process:

i) Idea generation: a concept that can be translated into a business;

Stating = 1pt and explaining = 1pt per each stage (2 x 5 = 10pts)

Q3) Challenges of entrepreneurship in Cameroon are:

- Inadequate capital: lack of collateral limits chances of borrowing and as a solution,

- Lack entrepreneurial skills in the form of managerial skills, financial management

- Lack of infrastructures in the form of farm to market roads. The

- Unstable economic and environmental factors: inflation, exchange rate fluctuations,

- Unfavorable government policies. The solution is to readjust government policies

Q4) a) Five components of a business plan:

VII. Financial analysis: Should involve income statements, sources of finance,

Any five = 1 x 5 = 5mks

B) Importance of a business plan includes:

II. It makes entrepreneurs to stay focus;

III. It attracts investors;

Any five = 1 x 5 = 5mks

SECTION B: GENERAL ECONOMICS

Any three = 2 x 3 = 6mks

Q3. A) A Commercial bank is a financial institution offering financial services to the

a) The main functions of a commercial bank are:

Q4 Identify and explain five characteristics of money:

 Standard of deferred payment

 Medium of exchange: The most important function of money is that it acts as a

SECTION C: COMPANY LAW

Q3) Reasons for violation of legal personality

 When they violate their articles of association;

 When they carryout activities out of their objectives;

 The non-usage of the name of the institution in legal matters;

PAST HND QUESTIONS ON BUSINESS CREATION AND

SECTION B: GENERAL ECONOMICS (30 MARKS)

Minus Borrowing Repayment 200,000 2mks

Balance at the Endof Month 30.000 2mks

Surplus for Three Months = 30,000 x 3 = 90.000FRS 2mks

Or putting it in a tabular method;

ANNUAL PROFIT = INCOME — EXPENDITURES

Section C: COMPANY LAW

WHAT ARE THE CHARACTERISTICS OF COMPANY LAW

WHAT ARE THE AREAS OF COMPANY LAW AN ENTRENEUR SHOULD

5) A Universal set of standards

WHAT ARE THE BENEFITS OF OHADA

WHAT ARE THE ACCOUNTING AND TAX FOR COMPANY REGISTERED

WHAT ARE THE CHARACTERISTICS OR FEATURES OF SOLE

 It can thrive in all business environments

WHAT ARE THE DISADVANTAGES OF SOLE PROPRIETORSHIP