MERCHANT BANKS (INVESTMENT BANKS) This may be defined as financial institutions that provide medium and long loans, accept large deposits from customers and acts as issuing houses. They deal with… Read More »MERCHANT BANKS & DEVELOPMENT BANKS
A negotiable instruments is an instrument whose title (or ownership) on it could be transferred by delivering it to another person with or without endorsement. Examples of negotiable instruments are… Read More »NEGOTIABLE INSTRUMENTS
A cheque is a bill of exchange drawn on a banker payable on demand PARTIES TO A CHEQUE There are three parties involved with a cheque namely: The Drawer –… Read More »CHEQUE SYSTEM
COMMERCIAL BANKS A commercial bank is a financial institution which accept deposits and other valuables from the public for safe-keeping lend money to people and firms and perform other auxiliary… Read More »COMMERCIAL BANKS: CHARACTERISTICS, FUNCTIONS & TYPES OF BANK ACCOUNTS
The Central Bank is the apex financial institution in a country which is responsible for the management and control of monetary affairs of the country. FEATURES/CHARACTERISTICS OF THE CENTRAL BANK… Read More »CENTRAL BANK: FEATURES, CHARACTERISTICS, FUNCTIONS & MONETARY POLICY
TRADE BY BARTER Before money came to be used, trade was carried out by goods being exchanged directly for other goods. This direct exchange of goods for goods is known… Read More »MONEY: QUALITIES, FUNCTIONS, FORMS, TRADE BY BARTER & COUNTER TRADE
TYPES OF PARTNERSHIP There are two main types of partnership business namely: Ordinary Partnership (or General partnership) The Limited Partnership THE ORDINARY PARTNERSHIP (GENERAL PARTNERSHIP) Characteristics or features: Membership/Number of… Read More »PARTNERSHIP: TYPES, ORDINARY PARTNERSHIP & LIMITED PARTNERSHIP
A partnership is defined as the relationship that exists between two or more (but more than twenty) persons carrying on a business in common for the purpose of making profits.… Read More »PARTNERSHIP: FORMATION, ADVANTAGES, DISADVANTAGES & CHARACTERISTICS
Business units can be divided into two broad classes namely, the private sector or private enterprise and the public sector or public enterprise. The private sector or enterprise is made… Read More »BUSINESS UNITS & SOLE PROPRIETORSHIP
Communication is the act of sending and receiving message/information from one person or place to another. Communication could be oral, written or visual. IMPORTANCE OF COMMUNICATION TO COMMERCE It… Read More »COMMUNICATION
A stock exchange is a specialized market where investors can buy and sell existing securities like shares, stocks, debentures and gill edge securities. It is a part of the capital… Read More »STOCK EXCHANGE
DETERMINATION OF THE VIABILITY OF A BUSINESS To determine whether or not a business is viable an investigation into the following sources of information must be made. Trading, Profit and… Read More »THE FINANCIAL POSITION OF BUSINESS FIRMS
The profit of a business firm could be either Gross Profit or Net Profit. GROSS PROFIT This is the total sales less Cross Price: It is the same as… Read More »PROFIT
Capital in business refers to all the assets and property of a firm. TYPES OF CAPITAL FIXED CAPITAL: This refers to the assets of a firm which the business… Read More »CAPITAL
Information processing is the acquisition, recording, organization, retrieval, display and dissemination of information. Information processing could also be referred to as the manipulation of digitalized information by computers and other… Read More »Information processing – Full Explanation
Transportation is one of the aids to trade and branches of commerce which is a means whereby people and goods are moved from one place to another either through water,… Read More »TRANSPORTATION: ROAD, AIR, WATER, RAIL, IMPORTANCE, FORMS, ADVANTAGES & DISADVANTAGES
Nigeria port authority is organ of federal government charged with the responsibilities for producing facilities and controlling sea port in a country. They provide facilities at the port to ensure… Read More »NIGERIA PORT AUTHORITY {NPA}
Export trade: is the selling of goods/service of a country abroad. It includes goods and service sold to other countries. Nigeria export products are cocoa, crude oil, rubber, cassava, etc.… Read More »EXPORT PROMOTION COUNCIL
Custom and Excise authority is an agency charged with the responsibilities of assessing and collecting revenue due from import and export. It is a revenue collecting organ of the government.… Read More »CUSTOM AND EXICE AUTHORITY
DOCUMENTS USED IN FOREIGN TRADE Bill of lading Airway bill Indent Certificate of insurance Consular invoice Ship manifest Make receipt Certificate of origin Weight note Dock lading account Export/import license… Read More »DOCUMENTS USED IN FOREIGN TRADE