Business Studies

Consumerism – The actions of individuals and government responsible for consumer dissatisfaction in exchange relations. In other words, consumerism is a protest of consumers against unfair business practices and business injustices. Consumerism makes sure that businesses provide useful information and make sure that consumers get quality for their money. Meaning of A Right This is […]

Here are some shopping tips that can help you make the most of your shopping experience: 1. Make a shopping list: Before you head out or start browsing online, make a list of the items you need. This will help you stay focused and avoid impulsive purchases. 2. Set a budget: Determine how much you

Corruption is everywhere, it is a universal problem and everybody wants to eradicate it. The concept of TAP came about because of this reason. T – Transparency. A – Accountability P – Probity.   T – Transparency means to be clear, easily understood or quality of being truthful or without a hidden agenda. It also

LEDGER ENTRIEES Ledger is a principal book in which transaction are recorded in a summarize form. It is final destination of all transactions in the subsidiary book. Dr                                            Format of ledger                                                              Cr Date Particular Folio Amount Date Particular Folio Amount N N SIMPLE CLASSIFICATION OF LEDGER ACCOUNT Ledger Personal                                                                                                            impersonal   Debtors    

A petty cash book is a cash book used for recording small or minor expenses of the business. Petty means small, the minor expenses may include postage stamp, carriage, telegram, stationary, telephone, envelopes etc. To establish the petty cash an amount called cash float is disbursted to the petty cashier in the beginning of a

Cash book is a book of accounting or ledger account used for recording cash receipt and payments of money. It is used to record all cash received and paid out by the organizations. The cash of a business constitutes cash in hand and cash bank. There are three types of cash book Single column /

This is a cash book that takes care of both cash and bank. It is called double column cash book because it has cash and book column on both debit and credit side. The cash column is used for recording cash and cheque received while the credit side is used for recording all payments made

This is made up of cash column, bank column and discount column on both sides of the cash book. CASH DISCOUNT: This is an allowance received or reduction made when cash is paid promptly. It is classified into discount allowed and discount received. Discount Allowed – Is an allowance or reduction given by the business

Manuscripts are handwritten scripts or document. Manuscripts may contain correction additions, alterations and abbreviations etc. Proof correction signs Symbol Text Sign Meaning Caps/u.c Change letter business studies Capital upper case letter used # lnsert Insert space ~   University Elias_transpose   Elias University          , insert Insert comma Common Abbreviation Abbreviation                           Meaning Abt                                         

The success of any secretarial personnel is strongly dependent on the effective application of some of the basic typing techniques. The techniques that must be mastered in typing for expedient and neat typing are: Tabular key operation +          Key                       _ Line–space regulator Carriage Return lever Margin release lever Alphabetic Sentence Drills Exercise: You are required

Bookkeeping is the name used to describe the recording of cash and credit transactions so that information relating to the transactions may  be easily obtained. Or Bookkeeping can be defined as the activity of recording business transactions in a given order, so that the records will show the exact situation of the business at any

Meaning of Chemicals A chemical is defined as any substance which is capable of breaking down or combining with its kind or other substances under a suitable environment, to become a new substance, having a completely different character, behavior, quality, or use. Chemicals suitable for use and those not suitable for use. Characteristics of Chemicals

Meaning of consumer A consumer is any person who buys goods and services for his / her personal use. Also a consumer can be seen as a person who purchases a product or service for his use and not for resale or for use in manufacturing another product. Meaning of Market A market has two

The various forms or types of business organization can best be illustrated with the table below TYPES /FORMS OF BUSINESS ADVANTAGES A: Sole Proprietorship B: Partnership C: Co-operative Society D: Private Limited E: Public Limited Shoe mending Manufacturing Thrift Co-op Liability Company Liability Company Kiosk ownership Farming Farmers WABP LTD Zenith Bank Farming Estate Management

Meaning of Entrepreneurship: Entrepreneurship, as we have earlier noted, comes from the French verb  ‘entrepreneur’ which means ‘to undertake. Entrepreneurship is the act or art of organization or owning a business by taking financial risks with a view to making profit. IMPORTANCE OF ENTERPRENEURSHIP Entrepreneurs have the ability to bear risks and so create jobs

Entrepreneurship comes from the French verb ‘entrepreneur’, which means to ‘undertake’, Entrepreneurship is the act or art of organization or owning a business by taking financial risks to make a profit. FACILITIES AVAILABLE FOR SELF-EMPLOYMENT If you want to be self-employed,  you have to start by thinking of a new idea for business. The questions

Ethics are the values, principles/ rule and behavior by which people in the society, or group of people is a profession or association live. It is a set of rules that makes people to be aware of right and wrong. ETHIC GUIDING THE SOURCING OF CHEMICALS A person or business organization dealing in chemical from

MEANING OF TRUTHFULNESS Truthfulness is a quality that is exhibited by  a person who tells the truth all the time even if it will put him or her in trouble. A truthful person is an honest person. ATTRIBUTES OF TRUTHFULNESS Some of the attributes of truthfulness are Avoiding lies Standing by the truth always, even

For the activities of production to take place, factors must be available. These are the things that make  the production of goods and services possible; hence they are called factors or agents of production. They are; Land Labour Capital and Enterpreneur These factors supply the money, physical effort, land or place of business and managerial