Introduction Inflation refers to an economic situation where the demand for goods and services in the economy is continuously increasing without corresponding increase in supply which pushes the general prices up. The opposite of inflation is called deflation. Inflation is… Read More
CHAPTER 4 : PUBLIC FINANCE NOTES PDF
Public finance refers to the activities carried out by the government associated with raising of finances and the spending of the finances raised (it is the study of how government collects revenue and how it spends it) The components of… Read More
CHAPTER 3 : MONEY AND BANKING NOTES
Barter trade This is a form of trade where goods and services are exchanged for other goods and services. Benefits Satisfaction of wants: And individual is able to get what he or she needs. Surplus disposal: an individual or… Read More
CHAPTER 2 : FINANCIAL STATEMENTS NOTES PDF
These are prepared at the end of a given trading period to determine the profit and losses of the business, and also to show the financial position of the business at a given time. They includes; trading account, profit and… Read More
CHAPTER 1 : SOURCE DOCUMENTS AND BOOKS OF ORIGINAL ENTRY
These are documents containing the information that makes basis of making entries in the books of accounts. They act as evidence that the transaction actually took place. They includes Cash sale receipt: – a document that shows that cash as… Read More
CHAPTER 9 : THE LEDGER NOTES PDF
This is a special ledger which is used to record cash and cheque transactions. It contains only the cash in hand and cash at bank (i.e. cash and bank) accounts Nominal ledger This ledger is used to record business expenses… Read More
CHAPTER 6 : POPULATION AND EMPLOYMENT
Introduction Population refers to the number of human beings living in a particular region at a particular time. The size of the population is ascertained through national headcount, which is referred to as a national census. It is an international… Read More
CHAPTER 5 : NATIONAL INCOME NOTES PDF
This is the total income received by the providers/owners of the factors of production in a given country over a given time period. Terms used in national income Gross Domestic Product (GDP). This is the total monetary value of all… Read More
CHAPTER 4 : CHAIN/CHANNELS OF DISTRIBUTION NOTES PDF
Introduction Channels of distribution are the paths that goods and or services follow from the producers to the final users. The persons involved in the distribution of goods from the producer to consumer are called middlemen or intermediaries. There are… Read More
CHAPTER 3 : PRODUCT MARKET NOTES
The term ‘market’ is usually used to mean the place where buyers and sellers meet to transact business. In Business studies, however, the term ‘market’ is used to refer to the interaction of buyers and sellers where there is an… Read More