ECONS 101

LIMITED LIABILITY COMPANIES Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. HAPPY DEMOCRACY DAY FOR NIGERIA !!!. Let's Get Started..... A Company can be defined as a Legal Person or Entity created by the Association of a Number of People in accordance with the Law for the Purpose of Pooling their Capital together in order to set up a Business Venture....

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FINANCIAL ACC 101

BALANCING OF LEDGER ACCOUNT Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. HAPPY CHILDREN'S DAY Y'ALL. Let's Get Started..... Before the preparation of Trial Balance, the account must be balanced off at regular intervals during the financial year, it is necessary to balance each account, in order to ascertain the overall position recorded in the book...

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COMMERCE 101

QUOTING PRICE IN INTERNATIONAL TRADE Hey Guyz, Happy Monday.  Hows your week so far, great right???. lolz- God has been Faithful and We are grateful. So let's get started.... 1. Cost, Insurance and Fright (C.I.F)- This price means that the prices quoted includes the cost of the goods, the fright and insurance up to the port of destination while the purchaser is responsible for other subsequent charge. 2. Free On Board (F.O.B)- means that the price covers all cost up to the ship including charges, payable for loading goods on the ship. 3. Franco-...

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ECONS 101

PARTNERSHIP Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... Types of Partnership: a. Limited Partnership is a type of partnership which is formed and registered under the Limited Partnership Act. In a Limited Partnership, there must be one general partner with unlimited liability and one limited partner whose liability is limited...

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FINANCIAL ACC 101

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COMMERCE 101

DIFFERENCE BETWEEN BALANCE OF PAYMENT AND TRADE Hey Guyz, Happy New Week to Everyone, Hope your weekend was great and restful. Mine was indeed restful, don't you just love the weekend???. lolz. well its Monday again but not to worry God is here to make it has blessed as possible for us. May the rest of your day and week be awesome and full of love. So Let's get straight to the Point... Balance of Trade is the relationship between the values of a country's import and export of visible items within a particular period of time. If visible Exports...

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ECONS 101

SOLE PROPRIETORSHIP Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... Sole Proprietorship may be defined as a form of business enterprise owned, financed and managed by one person with the primary aim of maximising profits. The Sole Proprietorship, also popularly referred to as one-man business, is the oldest and the most common type...

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FINANCIAL ACC 101

ANOTHER PETTY CASHBOOK ILLUSTRATION Hey Everyone, Hope the week is going well? It Is Well with You in Jesus Name- Amen. Today we are continuing from where we stopped last week. Let's get started.... ILLUSTRATION 2: The Following is a summary of the Petty Cash Transactions of Mr. Shola Ltd for October 1990. Oct 1- Received from Cashier N1600 Oct 2- Petrol N70 Oct 3- Postages N90 Oct 4- Travelling N60 Oct 5- Postages N25 Oct 6- Petrol N110       Oct 7- Travelling N85 Oct 8- Cleaning N90 Oct 9- Stationery...

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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...

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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. ...

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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...

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COMMERCE 101

FOREIGN TRADE Hey Guyz, Alot has happened let me gist you. Lolz. So it's been a while since I posted and thats because I was concluding plans to launch my second blog, this one would be a personally-run blog no other Authors and it's so exciting. I will release more info when its ready. That aside, well we know some of you would like to have other subjects/courses covered on this site so we have been searching for the right Candidates for these Positions and GOOD NEWS!!!, we found someone. She has been a friend for a while now and she would...

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ECONS 101

BUSINESS ORGANISATIONS Hey Everyone, Happy New Week. Happy FRIDAY to you all. Hope this weekend brings you happiness and joy beyond your expectation. Let's get started!!!! Business Organisation can be defined as an enterprise set up by an individual/group of individuals, government or its agencies for the main purpose of making profit and providing goods and services for the satisfaction of human wants. All firms irrespective of their size is there to provide goods & services to the customers. TYPES OF BUSINESS ORGANISATIONS: 1. PRIVATE...

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