February 2025

The clearing of cheques

By |2025-02-12T09:15:11+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit dailymail.co.uk Image credit dailymail.co.uk ZIMSEC O Level Commerce Notes: Money and Banking: The clearing of Cheques.

  • There are three ways and circumstances in which a cheque may be cleared.

If the payee and drawer use the same bank and branch

  1. The payee deposits the cheque into his/her account.
  2. The payee is credited […]
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Code of advertising practice

By |2025-02-12T09:13:51+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ethics-min Image credit gatech.edu ZIMSEC O Level Commerce Notes: Advertising: Code of advertising practice

Code of advertising practice

Its importance

  • It establishes basic standards of advertising.
  • It ensures that advertisements are:
  • legal i.e. they follow the set advertising laws and metes sets out the punishments for transgressors.
  • Ethical i.e. are they realistic and do they adhere […]
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Email and Internet

By |2025-02-12T09:44:44+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Gmail app. Image credit play.google.com Gmail app. Image credit play.google.com ZIMSEC O Level Commerce Notes: Communication: Email and Internet

Electronic Mail (Email)

  • Is the communication of information:
  • using a computer.
  • Via a telephone circuit.
  • The information is sent from one computer to another.
  • From one computer to several computers at the same time.
  • It uses modems.
  • Each subscriber […]
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Life Assurance

By |2025-02-12T09:09:29+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Life Assurance. Image credit afterjujuman.com Life Assurance. Image credit afterjujuman.com ZIMSEC O Level Commerce Notes: Insurance: Life Insurance

Life assurance

  • Covers against events that will certainly occur e.g. death.
  • The principle of indemnity does not apply.
  • Benefits are paid to spouses and children who are the beneficiaries of the policy.

Whole life policy.

  • One assures his/he […]
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Difficulties faced by importers and exporters

By |2025-02-12T09:22:34+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

The dreaded Somali Pirates. Image credit slate.com The dreaded Somali Pirates. Image credit slate.com ZIMSEC O Level Commerce Notes: Difficulties faced by importers and exporters

  • Different languages
  • Language is a barrier in international trade because it leads to communication problems.
  • There is a need to translate information or instructions from one language to […]
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Consular invoice

By |2025-02-12T09:39:28+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit jaicourtney.net Image credit jaicourtney.net ZIMSEC O Level Commerce Notes: Consular invoice

Consular invoice

  • Assist customs officials to calculate customs duty where duty is charged on the value of imported goods.
  • Signed by a consul of the importing country certifying and confirming that the prices of the goods are correct:
  • prices of the […]
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Commerce Notes:Partnership Act

By |2025-02-12T09:02:54+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit ndlink.org Image credit ndlink.org ZIMSEC O Level Commerce Notes: Partnership Deed

Partnership Act

  • Where a Partnership Deed has not been drafted, the Partnership Act is applicable
  • It is enacted by Parliament.
  • The Act sets out the following provisions:
  • the partners must contribute equal amounts of capital.
  • Any disputes must be settled by a majority […]
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