aec306- Farm Records & Accounting SEPTEMBER, 2020_1 past question(NOUN)

 INSTRUCTION: Answer compulsory question 1 (25 marks) and any other 3 questions (15 marks each). 

1a. What are farm records? (3marks) b. Explain the basic principles of record keeping (10marks) c. Discuss the three basic types of farm records (12marks) 

2a. Distinguish between Record keeping and Record Analysis (6marks) 

b. Discuss the use of the hand system and the computer system as methods of developing and keeping farm records. (9marks) 

3a. What are the various tools for the analysis of Farm records (5marks)

 b. Explain the use of Balance sheet as a tool (10marks) 

4. Discuss the following tools of Financial Analysis (15marks)

 a. Current Ratio (5marks) 

b. Debt to Asset Ratio (Solvency) (5marks) c. Earned Financial Progress (Profitability) (5marks) 

5a Discuss the use of computer in record keeping (10marks) 

b. What are the Key features of the computerized system? (5marks) 

6a. Distinguish between Book keeping and Accounting (6marks) 

b. Explain the various books used for book keeping (9marks)


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