JSS 1 BUSINESS STUDIES

8th September,2020.

Good morning dear students, hope you are all doing great.

Corrections on previous questions.

  1. A
  2. B
  3. C
  4. A
  5. B
  6. B
  7. A
  8. C
  9. Importance of book keeping :Book keeping helps the owner to know whether the business is making profit or loss. It helps in decision making. It provides permanent records for all transactions. It helps to prevent fraudulent practices . it makes loans facility possible through banks.
  10. Book keeping practices;Accurate and timely payment of bills. Daily recording of sales and cash receipts. A chart of accounts is set up to keep track of all book keeping information. Establish and use a filing system for all paper work. Keeping personal and business transactions separately at all times.

Questions for this week:

1.Business studies student can become any of these except(a) accountant (b) banker (medical doctor

2.Honesty is the best ——(a)capital (b) policy (c) loss

3. A place in an organization where formal transactions are carried out is called ——-(a)building (b) cubicle (c) office

4.The act of giving information to the public about a product or service is called (a) advertising (b)communication (c) marketing

5. The following are functions performed in an office except (a) preventing (b) processing (c) receiving

6. The end point of the channel of distribution of goods is (a) consumer (b) retailer (c) manufacturer

7. The place in an organization where a visitor receives information about the person he wants to visit is called —-room (a) guest (b) reception (c) strong

8. Which if the following is an acknowledgement of payment? (a) cheque (b) draft (c) receipt

9. A one man business can also be called (a) cooperative society (b) sole proprietorship (c) partnership

10. Business—– is the common goal of all the departments and offices of a company.(a) end (b) locked (c) success

11. Define commerce

12. State the major divisions of commerce.

1st September,2020.

CORRECTIONS ON PREVIOUS QUESTIONS ASKED.

  1. A
  2. D
  3. –
  4. A
  5. C
  6. B
  7. C
  8. –
  9. C
  10. A
  11. A
  12. B
  13. C
  14. A
  15. C
  16. B
  17. A

CLASS ACTIVITY

  1. Consumable household chemicals include one of the following:(a)Common salt (b) yam pepper (c) tomatoes
  2. Chemicals can be in the following forms ———–(a)Liquid colour and  stream (b) Liquid solid and gas (c) Liquid solid and colour
  3. Chemicals are monitored so that ———-(a)Only individuals liscenced are responsible for its distribution (b)Restricted chemicals are used by trained individual((c)All of the above
  4. The agency responsible for controlling food and other regulated products in Nigeria is —–(a)NAFDAC ; National Agency For food And Drug Administration and Control (b)Trade union(c)Trade association
  5. If bleach is used as suitable chemical, it should be used as ——-(a)Food additive (b) A detergent (c) Food coating
  6. The two types of assets are ——– and ——-Cash and capital (b) Fixed and current (c) Plant and machinery
  7. Assets less liabilities equal ——(a)Capital (b) Premises (c) current liabilities
  8. The account principle which states that for every debit entry there must be a corresponding credit entry and vice versa is called ——– entry (a) Contra (b) Credit (c) Double
  9. State three importance of book keeping.
  10. Mention three book keeping practice.  

18THAugust, 2020.

CORRECTIONS ON PREVIOUS LESSON

General Journal

This journal records all other transactions that cannot pass through other books of journal entry. It also records non- regular transactions such as purchase and sale of fixed assets on credit, opening and closing entries, business acquisition, correction of errors etc.

Cash book

 This journal records the movement of cash in and out of an organization.

A cash book is journal because it is a book of first entry of cash transactions and it is a ledger  because it is part of the double entry system.

Good morning beloved students, hope you are preparing for resumption, please be encouraged to continue reading. It’s well. This week, we shall be revising all that we have been considering for sometimes now.

You are therefore encouraged to attempt the questions and send them to me via this platform. Thanks for your cooperation.

  1. An industry where raw materials or partly finished goods are to produce new items is a ——— industry (a) Extractive (b) Commercial (c) Construction
  2. Which of these is correct of production?
  3. Creating services (b) Creating goods and services for satisfaction (c) doing something for leisure
  4. The main divisions of production are: (a) Industry, commerce and services (b) Extraction, Manufacturing and construction.
  5. The safe keeping of goods from the point of production to the time they are needed is —— (a) Stock keeping (b) Goods keeping (c) Ware housing
  6. A factor of production that makes business to run effectively for a reward of interest is ———— (a) Land (b) Capital (c) Entrepreneur
  7. The price at which the producer is ready to supply the goods to the buyers is called ———–
  8. Agreed price (b) Cash on order (c) Cost price
  9. The reward for entrepreneur is ——— (a) Interest (b) Land (c) Profit
  10. The oldest form of business organization is —— (a) Sole proprietorship (b) Partnership (c) Cooperative society
  11. A partnership’s agreement specifying the relationship amongst partners is called (a)  Partnership deed (b) Certificate of Incorporation (c) partnership act
  12. Which of the following has no limit to its membership? (a) Cooperative society (b) Limited liability company Sole proprietorship
  13. A regular gathering of people for purchase and sale of goods and services is ——– (a) Ware house (b) store (c) Market
  14. A person who pays to consume the goods and services produced by a seller is a ——— (a) Consumer (b) Retailer (c) Producer
  15. Which of the following enables people to consume a variety of goods and services? (a) Labour (b) Exchange (c) Capital
  16. ————- is a process of detailed recording of all the financial transactions of a business. (a) Liability (b) Book Keeping (c) Asset
  17. ——— and ———— are qualities of a book keeper (a) Accuracy and Honesty (b) Charts and terminologies (c) Objectivity and numbers

11th August, 2020.

CORRECTIONS ON THE PREVIOUS LESSON

DIFFERENCES BETWEEN CASH TRANSACTIONSAND CREDIT TRANSACTIONS

CASH TRANSACTIONSCREDIT TRANSACTIONS
Payment is settled immediately
There is no credit period
No interest is charged  

No room for bad debts  
Less paperwork is needed.		Payment is settled at a later date.

There is credit period

There may be interest charged for providing credit facility
There may be occurrence of bad debts  

Much paperwork is required.

PURCHASE ORDER

A purchase order is a written order to purchase goods and services from supplier.

Details to be found on a purchase order include:

Name of the firm sending the order

Name of the firm that will supply the goods

Date

Full description of goods and their prices

Quantity required

Purchase order number

 Signature of the firm ordering the goods

INVOICE

An invoice is a source document which describes the goods sold, the quantity of goods sold,the unit price and total price of goods sold among others.

An invoice contains the following information.

Name and address of seller

Name and address of buyer

Date

Invoice number

Customer’s order number

Details of goods supplied together with total amount of trade discount (if any)

Carriage charge (if application)

Terms of payment including any cash discount allowed for quick settlement.

CASH RECEIPT

A cash receipt is a written acknowledgement that specified payment has been received.

It is a document that is given by the seller to the buyer and serves as an evidence or proof of payment of amount owed.

A cash receipt contains the following:

Name of the seller

Name of the buyer/person that pays cash

Date of payment

Purpose of payment

Amount paid in figure and words

Signature of seller and buyer

Receipt number

This week, we shall be considering JOURNALS.

Journal is a book of original entry or book of prime entry or book of first entry, it is also called subsidiary book.

Journal is the book in which transactions are first recorded before being transferred to the ledger.

                A journal is a prime book with which we record our day to day transactions.

TYPES OF JOURNAL

Purchase journal/day book

Sales journal/ day book

Sales return journal or return inward

Purchase return journal or return outward journal

General journal or journal proper

Cash book

Purchase Journal: this is used mainly to record goods bought on credit. It is written up using the invoices received from suppliers.

Sales journal

Sales journal is used to record goods sold on credit. Sales journal is prepared from the duplicates of sales invoice.

Purchase return journal

This is where goods or items the buyers returned to the suppliers or sellers are recorded. Another name for purchase return journal is return outward day book. This journal is prepared from original credit note.

Sales return journal

This is used to record sales transactions on credit which was later returned to us by our customers source documents here is duplicating of credit note sent to the buyer.

QUESTIONS

Write short note on these;

General Journal

Cashbook

4th August,2020.

CORRECTIONS ON PREVIOUS TOPIC

QUALITIES OF A BOOK KEEPER

Accuracy

Efficiency

Objectivity

Honesty

DETAIL ORIENTED

LOVE FOR NUMBERS

Analytical

BUSINESS KNOWLEDGE

BOOK KEEPING PRACTICE AND ETHICS

Accurate and timely records of bills.

Daily record of sales and cash receipts.

A chart of account is set up to keep track of all book keeping information.

Balancing of accounts and reconciliation of bank accounts.

Keeping personal and business transactions separately at all times.

ASSET: These are the resources owned and controlled by business or resources owned to business. Examples of assets are: land and building, plant and machinery,vehicles etc.

DEBIT: Thus simply mean one of the two sides of an account, it is the left side of an account.

CAPITAL: This is the debt owed by the business to the owner of the business. It is resources provided by the owner of the business, owner may contribute cash,land, building etc as capital to the business.

This week, we shall be considering :SOURCE DOCUMENNTS.

Source documents are any of paper or electronic records that are produced as a direct consequence of a financial transaction.

Types of source documentS

Purchase order

Invoice

Credit note

Debit note

Cash receipts

Cash register tape

Cheque stub

Uses of source documents

Source documents are used for initial input to the accounting system.

They serve as evidence or proof that a transaction has taken place.

They are required for audit purposes.

They can be used for evident in the event of a law suit.

The availability of source document may lead to provision of better customer service.

Cash and credit transaction

A cash transaction is a transaction where payment is made immediately

A credit transaction is a transaction where payment is made a later date.

Questions

  1. State three differences between cash and credit sales.

2. Write short note on the following:

Purchase order

Invoice

Cash receipts.

28the July,2020.

Good day students, CORRECTIONS ON PREVIOUS LESSON

PERSONAL ACCOUNT

These are accounts related to any individual or any organization for example, Blossom’ account, Kemi’s account, Globacom Plc account and CNN’s account are all personal accounts.

IMPERSONAL ACCOUNTS

These are accounts that are not personal accounts and can be sub divided into:

1.Impersonal real accounts :These are accounts of tangible assets that can be touched and moved. Examples are: furniture account, computer account, land and building account, motor vehicles account, and machinery account among others.

2. Impersonal nominal accounts: These are accounts for things that are not tangible in nature. All kinds of expense account, loss account, gain account, or income account,come under this category. Examples include: rent Account, interest account, commission account, electricity account, rent received account, insurance account etc.

THE PRINCIPLE OF DOUBLE ENTRY STATES THAT : FOR EVERY DEBIT ENTRY THERE MUST BE A CORRESPONDING CREDIT ENTRY AND FOR EVERY CREDIR ENTRY THERE MUST A CORRESPONDING DEBIT ENTRY.

In general: “credit the giver, debit the giver”.

This week, we shall be considering BOOK KEEPING

Book keeping is a process of detailed recording of all financial transactios of a business. It can also be defined as the systematic recording of financial transactions on daily basis in the appropriate books of accounts.

IMPORTANCE OF BOOK KEEPING

  1. It helps the owner to know whether the business is making profit or loss.
  2. It helps in decision making
  3. It provides permanent records for all transactions
  4. Accounting records are used for tax assessment
  5. It helps to prevent fraudulent practices
  6. It is a tool being used to plan the future development of the business
  7. Book keeping provides employment opportunity to book keepers. QUALITIES OF A BOOK KEEPER.

a. Accuracy

b. Efficiency

c. Objectivity

d. Honesty

e. Analytical etc

Questions

  1. Aside from the qualities of a book keeper mentioned above, state two qualities of a book keeper.
  2. Mention three book keeping practice and ethics.
  3. Explain these terms: asset, debit, capital.

21st July, 2020.

CORRECTIONS ON PREVIOUS LESSON

Functional keys and its functions include;

These keys perform different functions, what they do may depend on the task being performed. For example F1 is used for help, F2 for edit etc.

Alphanumerical keys and its functions include;

These keys are used to form meaningful sentences and information.

They are also used for listing items and for mathematical purposes.

The cursor keys and its functions include;

They are used to navigate the environment or the user interface of the program.

Good day dear students, hope you are all doing great? It’s well with you all by His grace.

This week, we shall be considering DOUBLE ENTRY BOOK-KEEPING.

Double entry book keeping is a method of recording financial transactions into books of accounts where each transaction is recorded into two separate accounts.

Double entry book-keeping states that “FOR EVERY DEBIT ENTRY, THERE MUST BE A CORRESPONDING CREDIT ENTRY/ENTRIES AND FOR EVERY CREDIT ENTRY, THERE MUST BE A CORRESPONDING DEBIT ENTRY. This means that one financial transaction must be recorded into two separate accounts.

MEANING OF LEDGER

A ledger is a combination of many accounts that is; many accounts are in the ledger. A ledger is a permanent book of records. A ledger can also be referred to as the principal book of account.

CLASSES OF LEDGER

Ledger can be classified as;

Sales ledger

Purchases ledger

General ledger

Private ledger

Cash book

CLASSIFICATION OF ACCOUNTS

All the accounts in various ledgers can be classified as follows;

Personal accounts

Impersonal accounts

ACCOUNTS TO BE DEBITED AND CREDITED

In general; the golden rule is;

“CREDIT THE GIVER AND DEBIT THE RECIEVER”

The account that receives value must be debited while the account that gives value must be credited. The questions to be asked are;

  1. Which two accounts are to be involved?
  2. Which account is giving value?
  3. Which account is receiving value?

QUESTIONS

Explain the following terms;

  1. Personal account
  2. Impersonal account
  3. The principle of double entry book- keeping

14th July,2020

Good day students.

Corrections on previous lesson

Proffessions that derive benefits from keyboard include;

Engineers

Business Administrators

Accounts

Architects

Teachers/Lecturers

Public Administrators

Journalist etc.

This week, we shall be discussing parts of a computer keyboard.

A computer s an electronic machine used in the processing of data into informatio. it is specially designed to accept data, store the , process it and bring out the result in the form of information.

Parts of a computer:

keyboard

Monitor

Central Processing Unit (CPU) and

Mouse

Computer keyboard

A computer is a flat piece of plastic board with several buttons on it. it is an input device and serves as a primary tool for inputting data into the computer.

The buttons are called keys and the most computer keys have 104 keys.

Questions

List out the functional keys and its functions.

Mention the alphanumerical keys and its functions.

What are the cuursor keys used for?

 

7th July, 2020.

CORRECTIONS ON PREVIOUS LESSON

  1. INDUSTRIAL PRODUCTION

This can be divided into three namely;

Extractive production; this involves the bringing out of raw materials from the soil, sea or forest. Raw materials are the natural resources from God. They are coal, crude oil, cray fish etc. Extractive production is also called primary production.

Manufacturing production; this is the act of converting or changing raw materials into semi- finished or finished goods e.g crude oil – petrol, cocoa – bournivita, cassava – garri, fish – geisha etc. manufacturing production is also called secondary production.

Constructive production; this is concerned with making of capital goods that would satisfy the needs of people for a long time e.g  building of houses, construction of bridges, production  of motor vehicles etc. construction industry make use of finished product from both extractive and manufacturing industry for the construction of roads, building of houses etc.

  • Direct service; these are services in which individual benefits directly from the producer of such services. E.g doctor and patient, taxi driver and passengers, house maid and master etc.

Indirect service; these services are the types which are given to the general public or from which the citizens of a country benefits from e.g. services of the police, army, customs etc.

  • Land

Labour

Capital

Entrepreneur

  • Land; Rent

Labour; Wages or Salary

Capital; Interest or dividend

Entrepreneur; Profit

SCHEME OF WORK FOR THIRD TERM

Introduction to book keeping

Source document

Journals

Double entry book keeping

Introduction to keyboarding

Parts of a computer keyboard

Care of the computer

Correct keyboarding techniques

This week we shall be discussing, INTRODUCTION TO KEYBOARDING.

KEYBOARDING  is the act of producing written work with machine specially designed for that purpose e.g computer or typewriter.

IMPORTANCE OF KEYBOARDING

  1. Keyboarding makes it easier and faster to produce business materials that are neater in appearance.
  2. It helps businesses to do their work faster and accurately.
  3. It opens door for job opportunities in the society
  4. Keyboarding is very useful for all professions
  5. It facilitates research in different fields.

CORRECT SITTING POSITION/ POSTURE FOR KEYBOARDING

  1. Sit in an upright position with your feet placed flat on the floor.
  2. Sit closely to your keyboard, ensure that the keys centered with your body.
  3. Ensure that your shoulders are relaxed; your elbows in a slightly open position and your wrists and hands are straight.
  4. Place the mouse as close as possible to the keyboard.
  5. Position your monitor properly.
  6. Place your fingers curved on the home keys. Keep your palm off the keyboard frame. Then type; left finger tips ASDF right finger tips :LKJ
  7. Take small break every 20 to 30 minutes.

QUESTION

Mention four professions that derive benefits from keyboarding.

23th June, 2020.

Good day beloved students, hope you’ve been having a nice time on this platform?

I sincerely appreciate all those that have participating in this series, I hereby encourage you to continue to read and do the class work properly because its going to be of great benefit to you on resumption. Keep staying safe.

This week, our topic for discussion is PRODUCTION, but before then, let do the correction on previous lesson.

CORRECTION ON PREVIOUS LESSON.

  1. Trade and aids to trade.
  2. Transportation

Communication

Banking

Insurance

Warehousing

Advertising

Tourism

  • Aids to trade
  • Trade
  • Commerce
  • Home trade and foreign trade
  • Commerce

PRODUCTION

PRODUCTION is the making of goods and the provision of services to satisfy the needs of people.

It is also defined as any activity which produces services or changes the form, place or home of anything that is used to satisfy human need.

FORMS OF PRODUCTION

  1. CAPITAL GOODS: capital goods are made in order to give room for further production e.g  we use capital goods for the making of other goods which we need. Examples of capital goods are machines equipments etc.
  2. CONSUMER GOODS: these are intended for immediate consumption e.g cocoa drinks , biscuit, ice cream tyres etc.

TYPES OF PRODUCTION

  1. Industrial production
  2. Commercial production
  3. Service production.

QUESTIONS:

  1. Write short note on industrial production.
  2. Define these types of services; direct service, indirect service.
  3. State four factor of production.
  4. Mention the reward for each of the factors of production.

16th June, 2020.

 CORRECTIONS ON PREVIOUS LESSON

DEPARTMENTS IN AN ORGANISATION.

  1. Personnel department.
  2. Asking for more increment means asking for addition to his salaries.
  3. Administrative department.
  4. Marketing department.
  5. Stature
  6. The following are departments in an organization:

Administrative department

Personnel department

Sales department

Accounts/Finance department

Purchases department

Production department

Planning department

Maintenance department

Transport department

Legal/Public relations department

  • Functions of Administrative department

The department is responsible for the following;

The day to day running of the organization.

Oversees the coy’s premises.

Supervises the first aid arrangement of an organization.

Functions of Personnel department.

Personnel department is responsible for the following;

Selects and recruits qualified staff for an organization.

Trains and enhances education of staff.

Disciplines staff.

Recommends staff for promotion.

Functions of Sales department

Finds market for goods produced through products advertisement.

Keeps record of company’s products in the store room until they are needed

Places price tags for goods meant for sale etc.

Functions of Account/Finance department

Handles and controls the organization finances.

Keeps records of money received into the organization.

Prepares the salaries of workers etc.

Purchasing departments

Buys materials needed for the organisation’s use.

Buys raw materials needed for production.

Ensures that goods bought for the organization are of right quality and quantity to prevent wastages.

16th June, 2020.

This week, we shall be discussing INTRODUCTION TO COMMERCE.

Commerce is the buying and selling of goods and services and it involves other services that make mass distribution possible.

Trade is the buying and selling of goods services either at home or foreign market. Trade is divided into HOME AND FOREIGN trade.

Another name for home trade is internal,local or domestic trade.

PRODUCTS OF HOME TRADE INCLUDES:

Clothing materials

Food items: rice beans maize etc.

Books and other writing materials.

Building materials: cement, roofing sheet.

Home furnishing: furniture appliances etc.

Another name for foreign trade is international trade.

PRODUCTS OF FOREIGN TRADE INCLUDES:

Dressing approvals like jeans and suits.

Electronics

Video games

Drugs

Chemicals

Motor vehicles

Machines

IMPORTANCE OF COMMERCE

  1. Commerce is an occupation.
  2. It facilitates international trade and cooperation.
  3. It improves the standard of living.
  4. It strengthens insurance company.
  5. It facilitates and strengthens banking system.

QUESTIONS

  1. The major divisions of commerce are ———- and ———-.
  • Activities that aids commerce includes ——– and ———.

Use the diagram below to answer questions 3-5.

                                1

                        2                                       3

The diagram above shows commerce and its components.

  • Number three (3) on the diagram represents ———-.
  • What does number two (2) represent in the diagram?
  • Number one (1) on the diagram represents ———–.
  • Into which of the following two broad areas can trade be divided?
  • Home and retail trade (b) Foreign and wholesale (c) Home and foreign trade.
  • State two activities that aids commerce.
  • A term embracing buying, selling and distribution of goods and services is known as ———-.

9th June, 2020.

CORRECTIONS ON PREVIOUS LESSON

QUESTION 1:

The following are ways of keeping information:

  1. Cabinets should be made available in offices.
  2. By building a positive attitude in all clerical staff.
  3. All electronic confidential information should be protected by using password.
  4. Employees should refrain from discussing confidential information in public.
  5. Appropriate disciplinary measures should be spelt out to any staff found disclosing confidential information.

QUESTION 2:

EFFECTS OF UNAUTHORISED EXPOSURE OF OFFICIAL SECRETS.

  1. It may cause the business to collapse.
  2. It can lead to mis – interpretation of information.
  3. It can cause dis harmony among members of staff.
  4. Information can get to wrong hands, and then problem will occur.
  5. It can lead to sack of the member of staff involved.

QUESTION 3:

Examples of employee information:

Plan to promote staff.

Dismissal of staff.

Demotion of an employee. Etc

Examples of management information:

Total income generated by an organization.

Total expenditure of an organization.

Profit realized by an organization.

Tax Payment.

Recording of personal data of employee in the file kept in the organization.etc

9th June, 2020.

BUSINESS STUDIES JSS1

The topic we shall be considering this week is DEPARTMENTS IN AN ORGANISATION.

A department is one of the many divisions or parts of a big organization.

Various departments in an organization.

  1. Sales department
  2. Transport department
  3. Administrative department
  4. Account department
  5. Marketing department
  6. Personnel department
  7. Purchasing department
  8. Production department
  9. Planning department

Sales department:  This department is mainly responsible for selling the products of organization.

Transport department: This department is responsible for the movement of goods in and out of the organization.

Account department: This department is responsible for the preparation of salaries and wages of employees or workers. It is also responsible for the payment of money and receipt of money.

Administrative department: This department is responsible for the general planning of the organization.

Personnel department: This department is responsible for staff welfare, training, transfers recruitment, promotion, and demotion of workers.

Purchasing department: Purchasing department is responsible for buying all materials and equipment needed in the organization, such materials are: stationery, raw materials and other consumable items needed for effective operation of the business.

Production department: This department is responsible for the making of goods in the organization.

Planning / Research department: This department is responsible for the business activities and also to carry out research into areas that will improve the wealth of the organization.

Marketing department: This department is in charge of sales advertisement and provision of the organizational product.

QUESTIONS:

No Fields Found.

  1. For participating in workers congress, a clerk was laid off. The department to be approached for redress is ——————.
  2. In the wage department, Mr Ugo was advised to apply for his increment means he should ——-.
  3. The day to day running of an organization is the function of —————.
  4. The ————– department is responsible for planning, organizing and supervising the market of a company’s products. (a) account (b) marketing (c) personnel
  5. As the head of a recruitment department in your office, which  of the following would you consider not important for employing an applicant? (a) Intelligence (b) Punctuality (c) Stature
  6. List out three department in an organization.
  7. State two functions of any this department. NOTE; YOU ARE EXPECTED TO ANSWER THE QUESTIONS IN YOUR NOTE BOOK.

2nd June, 2020.

Business studies JSS 1

This week we shall be revising OFFICE STAFF.

An office staff is a staff employed to work in an office.

Clerical staff

A clerical staff is an office staff who is responsible for receiving, arranging and proper documentation of information.

Duties of a clerk

  1. He/ she dispatches mails within and outside the organization.
  2. He/ She receives mails that come into the organization.
  3. He /She posts and collects mails from the post office.
  4. He / She duplicates necessary office document using photocopier.
  5. He /She arranges document.
  6. He /She Files document.

Job and Personal qualities of a clerk

He /She must have sound educational background.

He /she must be neatly dressed.

He / She must have sound health.

He /She must have ability to carry out instructions

He / She must be Polite.

He / She must be punctual at work.

Confidentiality of office information

Confidential office information is any information to which the public should not have general access to.

Confidential can be;

Employee information

 Management information

Business information

Questions

Mentions four ways of keeping information.

State two effects of unauthorized exposure of official secrets.

Mention three examples of employee information and two examples of management information.

No Fields Found.

CORRECTIONS ON PREVIOUS LESSON 27TH MAY, 2020

Differences between small and large office:

A small office has one to ten workers while a large office has more than ten workers.

There are few office machines in a small office while there are many office machines in a large office.

Clerical activities are less in a small office while clerical activities are much in a large office.

The following are materials that can aid work in an organisation:

Photocopier

Computer

Printer

Telephone

Files and filing carbinets

Stapler

The following are offices that can be found in a school organization:

Principal’s office

Bursar’s/Account office

Counsellors’s office

Vice principal’s office

26th May, 2020.

This week we shall be considering, THE IDEAL OFFICE

An office is a place in an organisation, set aside for clerical activities like: recording of business transactions, keeping of files etc.

Types of Office

Small office

Large Office

A small office is that which its size, nature of work, space, no of staff in it,and volume of work done in it is relatively small. E.g Principal’s office.

A large office is an office with large volume of clerical activities, large space, and size and a number of staff working on an organization. E.g Banking hall

Functions of an office

Giving Information

Receiving information

Recording information

Arranging information

Analysing information etc

Questions

Mention two differences between small office and large office.

State four materials that can aid work in office.

Mention four offices that can be found in a school organisation.

No Fields Found.

CORRECTIONS OF PREVIOUS LESSON

The following are sources of capital for soleproprietorship:

Personal savings.

Loans from relatives or friends.

Grants from friends or relatives.

Loan from bank.

Ploughing back/retained profit.

Advantages of Sole Proprietorship

It is easy to establish.

Decision making is very quick and fast.

The owner enjoys privacy.

The initial capital for a sole proprietorship is usually small.

Disadvantages of Sole proprietorship

The owner bears all the risks alone.

Death of the owner may put an end to the business.

A sole trader finds it difficult to retain experts or specialist.

No proper book keeping.

Hello students, hope you are keeping safe, its well with you in Jesus name.

This week we shall be revising the various forms of business organisation.

The following are forms of business organisation:

Sole Proprietorship

Partnership

Limited Liability companies

Cooperative Societies

Public Enterprises.

Questions

Mention four sources of capital for sole proprietorship.

State two advantages and two disadvantages of sole proprietorship.

Answer these questions in the message box using the following format

Name of subject

Date/Topic

Answers

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