NECO REAL COMMERCE obj and Theory answers Available here
Verify Commerce obj
TYPE oF MARKET
(I) FINANCIAL MARKET: is a market where money, storks, shares, debentures are sold. Such a market is divided into Money and capital market
(ii) COMMODITY MARKET: is a market where physical goods are traded
(iii) LABOUR MARKET: is a market where workers exchange their labour skills with money from employers
(Ib). Marketing. | Selling.
(I) It identifies consumer needs. | it sells available product
(ii)It consern with satisfaction of.| it consern with producer
(iii)It satisfy consumer at a profit| it satisfy producer at a profit
2a) Calculate of Net profit
#. | #
Stock. = 2200. | Sales. 46000
Purchase. = 8500. | Returns. 600
Carriage. = 500. | 45400
Stock. = 4000. |
= 27000. | (wapbaze.com)
Gross profit. = 18400. |
= 45400. | 45400
Wages. = 2000. | gross profit. 18400
Expenses. = 500. |
Netprofit. =15900. |
Total. =18400. | 18400
2b) Turnover = 46000 - 600
2c) Group profit%. = Gp/turnover x 100
= 18400/45400 x 100
2d) Average stock. = open stock + close stock/2
= 22000 + 4000/2 = #13000
* To ensure a good and efficient management of enterprises
* To reduce public expenditure
* To ensure participation of private individuals
* To generate more revenue from enterprise
* To remove unproductive enterprise
* To promote the use of natural currency in trade&non-trade trasaction on the sub-region
* To bring about saving in the use of member state foreigners reserves
* To enhance monetary co-operation&consultation among member states
* To encourage and promote trade and exchange liberation among member states
Patnership Deed is the act of partners to draft rules and regulations that will guide the business unit. On the Other side, these agreements,rules and regulations guiding the members of partnership business Organisation is known as Partnership Deed or Deed Of Partnership.
i. Name Of the Partners
ii. The name and nature of the business formed.
iii. The amount of capital contributed by each partners.
iv. The role of each partner in the business.
v. How many profits and losses are to be shared.
vi. How long the business shall last.(wapbaze.com)
vii. How the business shall end when the need arises.
viii. The right of partners in the business.
Delegation Of Authority means the transfer of power or right to a surbodinate to give orders and enforce obedience in the performance of a particular Job.
Advantages Of Delegation Of Authorities
i. Time saving
ii. It spreads out work
iii. It leads to training
iv. Foster a feeding of importance.
Divadvantages Of Delegation Of Authorities.
i. Its prone to abuse
ii. May lead to comflict
iii. May Encourage Disabedience
iv. May be used as instrument of Vendetta.
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