January 2023

Visible and Invisible trade

By |2022-09-15T12:42:38+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Visible Trade. Image credit Maltatoday.com Visible Trade. Image credit Maltatoday.com ZIMSEC O Level Commerce Notes:Visible and Invisible trade

Invisible trade

  • Trade in services only e.g. tourism, freight, insurance.
  • Calculated for given periods of time, usually one year.
  • Invisible balance= exported services value-minus imported services value.
  • For example Tourists coming to Zimbabwe $25 million.
  • Banking services provided […]
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Export invoice

By |2022-09-15T12:42:31+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit DHL. Image credit DHL. ZIMSEC O Level Commerce Notes: Export Invoice

Export invoices

  • Prepared from various invoices for goods purchased and expenses incurred (on transportation and warehousing of goods)
  • Summarises the goods bought and expenses incurred.
  • Copies of the original invoices received from suppliers of goods and services are attached to the […]
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Commerce: Partnership Deed

By |2022-09-15T12:42:22+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit flcker.com Image credit flickr.com ZIMSEC O Level Commerce Notes: Partnership Deed

Partnership Deed (Agreement)

  • Drafted by partners.
  • Contains:
  • The objectives of forming the partnership.
  • The amount of capital each partner is going to contribute towards the partnership.
  • Duties, responsibilities and rights of each partner.
  • Terms and conditions under which the partnership operates.
  • Circumstances under which the […]
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Consumer Rights

By |2022-09-15T12:42:01+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit thestylemedic.com Image credit thestylemedic.com ZIMSEC O Level Commerce Notes: Consumer Rights

  • The right to basic human needs:
  • consumers must have access to basic needs such as food, clothing, water, shelter, education and health care.
  • The right to safety:
  • Consumers must be protected against goods and service or production processes which are dangerous […]
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Commerce: Management Functions: Organising

By |2022-09-15T12:30:22+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Management Functions: Organising

  • During the introduction, we examined what management is
  • We said management is the art of doing work through others
  • Also, it was mentioned that management can be defined in terms of its functions/duties that every manager is expected to perform
  • These functions include planning, organising, coordinating, leading and […]
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Financial Insitutions

By |2022-09-15T12:43:42+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

BancABC bank. Image credit thestandard.co.zw BancABC bank. Image credit thestandard.co.zw ZIMSEC O Level Commerce : Financial Institutions Click on any institution to read more about it. Click on an institution to read more about it.

Financial institutions

  • These are entities that provide financial services to people and other businesses.

Types of Financial […]

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Trade and Cash discounts

By |2022-09-15T12:43:26+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit seawaytrail.com Image credit seawaytrail.com ZIMSEC O Level Commerce Notes: Retail Trade: Trade and Cash discounts

Trade discount

  • a gross deduction from the gross invoice or catalog price
  • given by one trader to another
  • varies with the quantity and type of goods purchased and is deducted at the point of sale
  • usually the rate […]
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