Alfred Ajibola
- Tue, 31st December, 2019 @ 5:19 PM
Topics in Business Studies
Advantages and Disadvantages of Corporations Advantages and Disadvantages of Limited Liability Company Advantages and Disadvantages of Partnership Credit card and Debit card explained with their similarities and differences Business Structure: What is a business structure? Advantages and Disadvantages of Franchise What is a franchise? Types of franchise Corporation explained with its types What is Limited Liability Company? What is Partnership Business? Types of Partnership What is business studies? Concept of business Elements of Management What is Management? Importance of Management Advantages and Disadvantages of Air Transport Advantages and Disadvantages of Rail Transport Cheque explained with its terminologies Cheque: Types of Cheque Cheque: Characteristics of Cheque Advantages and Disadvantages of Cheque What is Advertising? Types of AdvertisingAcademic Questions in Business Studies
An accounting system focused primarily on a balanced debit and credit side is termed _____.
A. Ledger system
B. Journal system
C. Double entry system
D. Balance sheet system
E. Principle of accounting system
F. Balanced accounting system
With regards to money, which of the following statement is incorrect?
A. Money is crucial for the survival of every human being
B. Money is completely advantageous
C. Money is defined as anything that is generally accepted as a medium of exchange
D. Monopoly is said to exist when money and wealth exists in the hands of a few
E. Excess money in an economy can lead to inflation
F. When a person receives money that isn't commensurate with the job he or she had done, then that's underemployment
Which of the following statement is wrong with regards to business?
A. Business involves the exchange of something for another thing or money
B. Business is an economic activity
C. In business, profit goes beyond money
D. Businesses do not have social responsibilities to their customers
E. The exchange of services is an aspect of business
F. Businesses can be affected by government policies
Consumer _____ are the laws and methods put in place by various agencies so that consumers can enjoy maximum satisfaction on the goods they buy and services rendered to them.
Which of the following is not a characteristics of business?
A. The buyer and seller must always come into a contract agreement
B. Risk from unforseen circumstances is involved
C. They are subject to policies made by the government
D. All business transaction is aimed at making profit
E. It requires a discontinuous transaction between the buyer and the seller
F. Investments are required to begin a business
Which of the following is not a Right of Consumer Protection?
Which of the following is NOT a government agency of consumer protection?
Define Consumer Protection.
A good business structure is highly dependent on how it is managed. Importantly, the leaders of various organizations or institutions play an integral role in management. Similarly, as an entrepreneur, business man or woman, the growth of one's business will depend on how properly it is being managed.
Please read on business and characteristics of business here.
The term 'management' had be defined differently by various scholars. Below are some definitions:
Management is an art of getting things done or achieved through the people or members in formally organized groups.
Harold Koontz
Management is an art of knowing what to do, when to do it and seeing that it is done in the best and cheapest way.
F.W. Taylor
Management can also be defined as the art of creating an environment in which individuals and people can perform with cooperation the attainment of group goals.
You can read on your civic responsibilities here.
For me, I will simply define management to be the process of doing things and achieving the desired goals with the input of other people.
Please read on cooperation and factors that promote cooperation here.
Good management is a crucial factor required for the development of various business structures.
Please read on sole proprietorship as a business structure here.
Note: If developing countries can be properly managed by their leaders and those in government, businesses and other economic activities will thrive.
You can read on the functions of government here.
A good management will include the elements of management. In fact, it is these elements of management that make a business successful. A good knowledge on the elements of management is a required skill for every entrepreneur or business minded person.
Please read more on the elements of management here.
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Amazing facts in Business Studies
The world's 100 richest people earned enough money in 2012 to end global poverty four times over
NOTABLE POINTS IN Business Studies
Consumer protection refers to the ways or methods through which consumers enjoy maximum satisfaction from the goods they buy and services rendered to them.
The agencies of consumer protection assists in protecting the consumer rights. These agencies may also be referred to as the organs of consumer protection. Basically, we have three of them, they are:
Government Agencies
Independent Agencies
Legislation
One of the responsibilities of the government of every nation is to set up agencies or organizations that will protect the interest of the consumers and invariably, the people.
Below are some of the government agencies of consumer protection:
Please read on the government agencies of consumer protection here
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