Differences between Ordinary and Preference Shares
Share certificate. Image credit blogspot.com ZIMSEC O Level Commerce Notes: Differences between Ordinary and Preference Shares
To access more topics go to the Commerce Notes page.
February 2025
Cambrige Notes: Differences between Ordinary and Preference Shares
ZIMSEC O Level Commerce Notes: Differences between Ordinary and Preference Shares
To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes.
Commerce Notes:Partnership Act
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 […]
Private Business Corporation
Image credit rainregain.com ZIMSEC O Level Commerce Notes: Private Business Corporation
Private Business Corporation
- found in the private sector.
- Governed by the Private Business Corporation Act of 1993.
- A cross between partnerships and limited companies.
- A legal entity or body corporate which can sue or be sued in its own name.
- Formed by […]
Commerce: Advantages and Disadvantages of Partnerships
Image credit registrogiulia.info ZIMSEC O Level Commerce Notes: Advantages and Disadvantages of Partnerships
Advantages
- Management is duties are shared amongst the partners.
- More capital can be raised.
- More skills are available resulting in better quality decision making.
- Specialisation is possible.
- Partners can consult one another.
- There are fewer legal formalities.
- Losses are shared amongst partners.
Disadvantages
- Disputes may […]
PBC: Statement of Incorporation
Image credit resourcefulrealacademy.com ZIMSEC O Level Commerce Notes: PBC: Incorporation Statement
- Is prepared and drafted by a PBC.
- Contains:
- the name of the PBC ending with the words Private Business Corporation or PBC.
- Postal address of the PBC.
- Physical address of the registered office.
- Full name and National Identity number of each […]
Private Limited Companies
Dell Private Limited. Image credit freshhotjobs.com ZIMSEC O Level Commerce Notes: Business Organisations: Private Limited Companies
- Its operations are governed by the Companies Act.
- Formed by 2-50 shareholders.
- In other countries a company is formed by 2 or more people with no maximum number of shareholders.
- Has a […]
Trade Association
ACCA Offices. Image credit applepieghana.com ZIMSEC O Level Commerce Notes: Trade Associations
Is:
- an organisation formed by traders in the same line of business/industry e.g. Association of Certified Chartered Accountants (ACCA), Bankers Association of Zimbabwe etc.
- Is found in the private sector.
- Protects the interests of its member […]
Advantages and Disadvantages of Private Limited Companies
Dell Private Limited. Image credit freshhotjobs.com ZIMSEC O Level Commerce Notes: Business Organisations: Advantages and Disadvantages of Private Limited Companies
Advantages
- Operate as separate legal entities meaning:
- they can sue and be sued in their own name.
- Can make contracts in their own name.
- Shareholders enjoy limited liability.
- Can raise more […]
Public corporations/ Parastatals
A ZUPCO bus. Image credit bulawayo24.com ZIMSEC O Level Commerce Notes: Public Corporations/Parastatals and Public Utilities
Features
- Established by an act of parliament.
- Provides essential goods and services e.g. transport (NRZ)
- The main aim is to provide essential services at affordable prices.
- Have no profit motive.
- Are separate legal […]