Category JSS 1 Business Studies Notes (1st, 2nd & 3rd Term)

Book – keeping is the systematic recording of daily transactions (cash and credit) in the appropriate book. It is the art of keeping proper accounting records of business transactions. IMPORTANCE OF BOOK – KEEPING A bookkeeper is a person charged…

Meaning of chemicals – Chemicals are distinct compounds or substances which are prepared or purified artificially using different chemical reactions. E.g., baking soda, flavours of juice, medicine, food etc. GRADES OF CHEMICALS Need for monitoring and control of chemicals. The…

Who is a consumer?  A consumer is defined as an individual who buys goods for his personal use. He/she buys goods and services and uses them to his satisfaction. Meaning of Market A market is a place or situation where…

This is a business organisation which has been in corporation. It is an association of individuals who agreed to jointly put their resources together for the purpose of having a business distinct from their owners. It is a legal entity…

Public corporation is a business organization set up, financed and managed by government not necessarily to make profit but to provide essential services for the members of the public. FEATURES OF PUBLIC CORPORATION ADVANTAGES OF PUBLIC CORPORATION DISADVANTAGES OF PUBLIC…

SOLE PROPRIETORSHIP Sole trade is the oldest form of business organization. It is a form of business owned, engaged, and controlled by one person to make a profit. Another name for sole trade is sole proprietorship or one–man business. A…

Entrepreneurship is important. It benefits the locality by creating jobs for people and leads to a better standard of living. Entrepreneurship plays a crucial role in the economy and society as a whole. Here are some key reasons why entrepreneurship…

Entrepreneurship is a self-employed person who puts together all the factors of production to start a new venture. In other words, entrepreneur is a person who organises and manages a commercial undertakings or business undertaking.

There are four factors of production namely:

(1) Land : rent
(2) Labour: wages or salary
(3) Capital: Interest
(4) Entrepreneur: Profit

Production is the transformation/changing or conversion of raw materials into finished goods. It is the changing of natural resources or raw materials into finished goods, exchange and distributed in order to satisfy human wants. In other words, it is the…

Direct Services Direct services are simply those services that are rendered to directly on person- to-person basis and the payment for them is made by us directly to the service providers. Examples of direct service occupations are barbing, services of…

Meaning of Aids to Trade By the expression Aids to Trade we mean those things or agents that make trade to grow . The aids to trade make trade easy and for this reason they are called aids to trade…

Meaning of Trade Trade is the buying and selling of goods and services. It can also be defined as the activities which cover exchange, buying and selling of goods and services Branches of Trade Trade has three main branches which…

Occupation refers to various activities that are legal, ( that is not against the law ) which people engage in,  in order to earn their daily living. It can also be defined as the activities in which people engage themselves…

A clerical staff is someone who keeps record of account or sales in an office .Generally , a clerical staff is assigned to do written work. Examples of a clerical staff are Qualities of a Clerical Staff EVALUATION WEEKEND ASSIGNMENT…

Office equipment are tools and assets used by a firm or an organization. The organisations use them for the following:- VARIOUS TYPES OF OFFICE EQUIPMENT The various types of office equipment in use in an office are :- OFFICE CABINET…

The size of an organization depends on various departments in an organization. In a one man business the owner can act as an accountant, receptionist, clerk, manager, personnel manager, e.t.c in this type of organization the departments are few. But…

Types of Office Basically there are two types of office and they are: BIG OR LARGE OFFICE: this is a large building partitioned into small offices. SMALL OFFICE: This could just be a single room with a table, telephone and…

Some decades ago, the means by which people earned their living was through trade by barter system. Trade by barter is a means of exchanging good s for goods and services for services. In this system, someone who needs one…

Usually, punctuation marks as used in sentences give meaning to sentences. Punctuation marks can be used to separate sentences, or to put an end to sentences. Punctuation marks include comma, full stop, colon, exclamation mark. Computer Symbols and Punctuation Marks…