COMMERCE 101

DIVISION OF FOREIGN TRADE

Hey Guyz, Happy New Week. Hurray!!!!. Am just over the Moon because God kept me ALIVE and You!!!! yes you. I thank God for your Life today and I know he has an amazing plan for you today. Therefore CONGRATULATIONS in advance!!!!. Let's get Started.

International otherwise called Foreign Trade can be divided into the following:

# Import                                                      

# Export                                                          

# Entreport

1. IMPORT

It is the buying and selling of goods and services from other countries. it is sometimes restricted to control a country's Balance of Payment. It can be divided into two, namely:

a. Visible Import Trade- is the buying of goods from other countries which can be touched and seen (Tangible Goods). For Example- Automobiles (Cars), Electronics etc.

b. Invisible Import Trade- is the buying of services from other countries which cannot be seen or touched (Intangible Goods). For Example- Banking Services etc.

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ECONS 101

BUSINESS ORGANISATION CONTD

Hey Guyz, Happy New Week hope the weekend was wonderful for you and your loved ones. I had a Blast myself. I Pray that this new week brings all kinds of happiness and joy your way in Jesus name- Amen. We are continuing from where we stopped last time, so let's get started.....

Differences Between Private and Public Enterprise:

Private Enterprises	Public Enterprises
6. Owners bear losses suffered by private enterprises.	Tax payers bear losses suffered by public enterprises.
7. They require small amount of capital to set up.	They require huge amount of capital to set up.
8. They are established by ordinary registration or by incorporation.	They are established by acts of parliament.

Reasons for the Establishment of Many Private Enterprises in West Africa:

1. Existence of Official Corruption in Public Enterprises- The existence of official corruption in public enterprises discourages government from further investment in public enterprises, thereby giving way for the proliferation of private enterprises in many west African countries.

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FINANCIAL ACC 101

PETTY CASH BOOK

Hey Guys, It's a New Day again, hope your day yesterday was awesome cos mine was.  Well for today we are beginning this course afresh like the others we are revisiting what we have treated in order to better digest it.

Petty Cashbook is the book for recording small expenses. The rational behind the system is to reduce the numerous cash payments for small expenses. Example- Postage, Stationery, etc. The System for recording petty cash transactions is called Imprest System. In this system, a specific amount is given to cashier to start off accounting period. This specific amount is called Cash Float. The Source documents for petty cash book are involved receipts and vouchers. At frequent intervals he must be reimbursed for the cash disbursed for the period concerned thus bringing the cash balance to the formal amount.

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