February 2025

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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Private Business Corporation

By |2025-02-12T09:14:23+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit rainregain.com 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 […]
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Commerce: Advantages and Disadvantages of Partnerships

By |2025-02-12T09:03:37+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit registrogiulia.info 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 […]
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PBC: Statement of Incorporation

By |2025-02-12T09:15:05+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit resourcefulrealacademy.com 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 […]
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Private Limited Companies

By |2025-02-12T09:04:24+02:00February 12th, 2025|O Level Commerce Notes, Ordinary Level Notes, Principles of Accounts Notes|

Dell Private Limited. Image credit freshhotjobs.com 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 […]
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Trade Association

By |2025-02-12T09:16:05+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ACCA Offices. Image credit applepieghana.com ACCA Offices. Image credit applepieghana.com ZIMSEC O Level Commerce Notes: Trade Associations

Is:

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