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Explain the following liabilities in βtortβ (i) jointly liable; (ii) _- vicarious liability.(4 marks) June/July 2020
(i) Jointly liable: Joint liability in tort refers to a situation in which two or more parties are held responsible for the same harm or injury. In such cases, all of the parties may be sued and held responsible for the full amount of damages. (ii) Vicarious liability: Vicarious liability refers toRead more
(i) Jointly liable: Joint liability in tort refers to a situation in which two or more parties are held responsible for the same harm or injury. In such cases, all of the parties may be sued and held responsible for the full amount of damages.
(ii) Vicarious liability: Vicarious liability refers to a situation in which one party is held responsible for the actions or omissions of another party. This can occur when an employer is held liable for the actions of an employee, or when a parent is held liable for the actions of a child. Vicarious liability can arise even if the party being held liable did not directly cause the harm or injury, as long as there is a close relationship between the parties and the harm arose out of that relationship.
See lessState four essentials of a good contract. . (4 marks)June/July 2020
Offer and acceptance: A contract must involve a valid offer made by one party and accepted by the other party. Consideration: Both parties must provide something of value, known as consideration, in exchange for the performance of the contract. Capacity: Both parties must have the legal capacity toRead more
Outline three characteristics of a sole trader. (3 marks)June/July 2020
Ownership: A sole trader is a business owned and operated by a single individual. The owner is responsible for making all of the decisions related to the business and bears all of the risks and rewards of the business. Liability: As the owner of a sole trader, the individual is personally liable forRead more
Name five documents required when registering a company in Kenya.(5 marks)June/July 2020
The following documents are typically required when registering a company in Kenya: Memorandum and articles of association: These documents outline the purpose of the company, the powers and responsibilities of its directors, and the rights and duties of its shareholders. Form A1: This form is usedRead more
The following documents are typically required when registering a company in Kenya:
Differentiate between a registered company and statutory company.(2 marks)June/July 2020
A registered company is a type of business that is registered with a government agency, such as the Companies House in the United Kingdom or the Securities and Exchange Commission in the United States. A registered company has a legal identity separate from its owners, and is required to follow certRead more
A registered company is a type of business that is registered with a government agency, such as the Companies House in the United Kingdom or the Securities and Exchange Commission in the United States. A registered company has a legal identity separate from its owners, and is required to follow certain rules and regulations in order to maintain its legal status.
A statutory company, on the other hand, is a type of company that is created by a special act of parliament or legislature. A statutory company is formed for the purpose of carrying out a specific public function, and is often controlled by the government or a public body. Statutory companies are not required to follow the same rules and regulations as registered companies, as they are typically exempt from certain legal requirements.
See lessExplain each of the following functions of management: (i) planning; (ii) co-ordinating; (iii) controlling.(6 marks)June/July 2020
(i) Planning: Planning is the process of defining an organization's goals and strategies, and developing a plan to achieve those goals. It involves identifying the resources that will be needed to achieve the goals, such as personnel, finances, and equipment. Planning helps to ensure that an organizRead more
(i) Planning: Planning is the process of defining an organizationβs goals and strategies, and developing a plan to achieve those goals. It involves identifying the resources that will be needed to achieve the goals, such as personnel, finances, and equipment. Planning helps to ensure that an organization is moving in the right direction and that resources are being used effectively.
(ii) Coordinating: Coordinating is the process of organizing and aligning the activities of different departments and individuals in an organization. It involves ensuring that all parts of the organization are working towards a common goal and that there is effective communication and cooperation between different units.
(iii) Controlling: Controlling is the process of monitoring and regulating the performance of an organization to ensure that it is meeting its goals. It involves setting performance standards, measuring actual performance, and taking corrective action when necessary. Controlling helps to ensure that an organization is operating efficiently and effectively.
See lessOutline three weaknesses of traditional theory of management as advanced by the modem theorists. (3 marks)June/July 2020
One-size-fits-all approach: The traditional theory of management, also known as the classical management theory, is based on the idea that there is one best way to manage an organization. This approach does not take into account the fact that different organizations and situations may require differRead more
levels of management in an organisation. (3 marks)June/July 2020
There are three main levels of management in an organization: Top management: Top management consists of the highest level of executives in an organization, such as the CEO, CFO, and President. They are responsible for setting the overall strategy and direction of the organization, and making majorRead more
There are three main levels of management in an organization:
Outline five objectives of a scientific plant layout in an industry. (5 marks)June/July 2020June/July 2020
Maximizing efficiency: One of the main objectives of a scientific plant layout is to optimize the use of space, equipment, and labor, in order to increase productivity and reduce costs. This can be achieved through the use of principles such as flow production and just-in-time inventory management.Read more
applications of work measurement in an organisation.(2 marksy)June/July 2020
ork measurement can have several applications in an organization, including: Establishing standards for work performance: By measuring the time required to complete a task, an organization can set standards for how long a task should take and use these standards to evaluate the performance of employRead more
ork measurement can have several applications in an organization, including: