drawing a simple single business plan jss3

Lesson Notes By Weeks and Term - Junior Secondary School 3

Simple Single Business Plan - Business Studies for JSS 3 - JSS 3 - Notes, Videos & Tests

Part of the course

Simple Single Business Plan Study Material

Other Chapters in Business Studies for JSS 3

Top Courses for JSS 3

Importance of Simple Single Business Plan JSS 3

Simple single business plan notes free pdf download, important questions for simple single business plan, simple single business plan practice questions.

Welcome Back

Create your account for free.

Forgot Password

Unattempted tests, change country, practice & revise.

FIRST TERM SCHEME OF WORK FOR BUSINESS STUDIES JSS 3 (BASIC 9)

Junior Secondary School Scheme of work for Business Studies Jss3 First Term

Lagos State Scheme of Work for Business Studies Jss3 First Term

• Double entry (Ledger A/c) principle
• Trial balance
• Final accounts Meaning, Terms used in final accounts Trading account Profit and loss account
• THE BALANCE SHEET Meaning
• Assets and liabilities
• Fixed assets
• Current assets
• Long-term liability
• Current or short-term liability
• Store records
• Examination

FIRST TERM SCHEME OF WORK FOR BUSINESS STUDIES JSS 3 (Basic 9) – MODIFIED I

• INTRODUCTION
• The Office        
•  Office Equipment
• Right Attitude to work
• The Office Staff
• Introduction to Commerce
• Division of Commerce
• Production 1
• Factors of production
• EXAMINIATION

FIRST TERM SCHEME OF WORK FOR BUSINESS STUDIES JSS 3 (Basic 9) – MODIFIED II

WEEK           TOPICS

• Advertising/Media/Jingles-Meaning, Types, Functioning, Radio,Television,Newspaper, etc. Different Jingles used in Advertising Media.
• Transportation- Meaning, Importance and Types
• Advantages/ Disadvantages of Transportation of Each Type of Transportation
• Communication- Meaning, Means of Communication and Importance
• Communication- Services Provided by Communication Agencies
• Simple Single Business Goal- Meaning, Weaknesses, Opportunity, Threats
• Drawing A Simple Single Business Plan-Meaning of Simple Business Plan, Procedure for Drawing up a Simple Single Business Plan
• Consumer Protection Agencies- Meaning and Uses, National Communcation Comission (NCC), Standard Organisation of Nigeria(SON), National  Electricity Regulatory Commission(NERC), National Agency for Food and Drug Administration Control (NAFDAC)  Roles and Responsibilities of Consumer Protection Agencies.
• How To Make Complaints- Meaning, Justification, Unjustified Complaints, Steps in Lodging a Complaints,Writing a Complaint Letter, Reasons of Borrowing  Claim Cards, Procedures for Burning Chemicals not Suitable for Use, Reason for Restricting Chemicals not Suitable for Use.
• How To Seek Redress  

11 & 12        Revision&Examination

Related Articles

THIRD TERM SCHEME OF WORK FOR AGRICULTURAL SCIENCE SS 1

History Scheme of work for Grade 5

First term scheme of work for civic education ss 2, second term scheme of work for yoruba ss1, leave a reply cancel reply.

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Privacy Overview

SchemeofWork.Com

Access Scheme of work, Curriculum for Primary and Scondary Schools

Geography Scheme of Work SSS3 Lagos State

Geography Scheme of Work SSS2 Lagos State

Geography Scheme of Work SSS1

Radio,Television and Electronics Works Scheme of Work SSS3

Radio,television and electronics works scheme of work sss2.

• Schemes of Work
• Privacy Policy

Business Studies Scheme of Work for JSS 3 Federal (All Terms)

Education Resource Centre, Federal Business Studies Scheme of work for JSS 3. FCT Teaching Scheme – Schemeofwork.com

BUSINESS STUDIES JSS 3 FIRST TERM SCHEME

BUSINESS STUDIES JSS 3 SECOND TERM SCHEME

BUSINESS STUDIES JSS 3 THIRD TERM SCHEME

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Search for Curriculum and Scheme of work

Nursery scheme of work lagos state.

Civic Education Scheme of Work for Kindergarten Lagos State (Age 5)

Basic Science and Technology Scheme of Work for Kindergarten Lagos State (Age 5)

Yoruba Scheme of Work for Nursery 2 (Age 4) Lagos State

Health Habits Scheme of Work for Nursery 2 Lagos State

Science and mathematics scheme of work.

Health Education Scheme of Work SSS2 Lagos State

Information Technology Scheme of Work SSS 2 Lagos State

Further Mathematics Scheme of Work SSS 1 Lagos State

Information Technology Scheme of Work SSS 1 Lagos State

Nursery scheme of work federal.

Nursery 1 Scheme of Work Federal (Age 4)

Nursery scheme of work federal (ages 4 – 5 years).

Pre-Primary Scheme of Work Federal

Nursery 2 scheme of work federal (age 5).

Sign in to your account

Username or Email Address

Remember Me

Search form

• Result Portal
• Student Life
• Parents & Guardians
• Learn from Home

You are here

Scheme of work business studies jss3 3rd term.

BUSINESS STUDIES

3 RD TERM SCHEME OF WORK JSS 3

• Allocated Reg. Numbers for New SS2 Students, 2023/2024 Acadenic Session
• Allocated Reg. Numbers for New SS1 Students, 2023/2024 Acadenic Session
• Allocated Reg. Numbers for New JS3 Students, 2023/2024 Acadenic Session
• Allocated Reg. Numbers for New JS2 Students, 2023/2024 Acadenic Session
• Allocated Reg. Numbers for Js1 2023/2024 Academic Session

Learning from Home

• Scheme of Work JS1
• Scheme of Work JS2
• Scheme of Work JS3
• Scheme of Work SS1
• Scheme of Work SS2
• Scheme of Work SS3
• Subject Contents\ Classwork JS1
• Subject Contents\ Classwork JS2
• Subject Contents\ Classwork JS3
• Subject Contents\ Classwork SS1
• Subject Contents\ Classwork SS2
• Subject Contents\ Classwork SS3
• Quizzes, Tests or Examinations

Recent Galleries

• Request new password

Powered by: Mofasoft

1ST TERM JSS3 BUSINESS STUDIES Scheme of Work and Note

Share this:

SUBJECT: BUSINESS STUDIES CLASS : JSS3

SCHEME OF WORK

WEEK TOPICS

• Advertising/Media/Jingles-Meaning, Types, Functioning, Radio,Television,Newspaper, etc. Different Jingles used in Advertising Media.
• Transportation- Meaning, Importance and Types
• Advantages/ Dis advantage s of Transportation of Each Type of Transportation
• Communication- Meaning, Means of Communication and Importance
• Communication- Services Provided by Communication Agencies
• Simple Single Business Goal- Meaning, Weaknesses, Opportunity, Threats
• Drawing A Simple Single Business Plan-Meaning of Simple Business Plan, Procedure for Drawing up a Simple Single Business Plan
• Consumer Protection Agencies- Meaning and Uses, National CommuncationCommission (NCC), Standard Organization of Nigeria (SON), National Electricity Regulatory Commission(NERC), National Agency for Food and Drug Administration Control (NAFDAC) Roles and Responsibilities of Consumer Protection Agencies.
• How To Make Complaints- Meaning, Justification, Unjustified Complaints, Steps in Lodging a Complaints,Writing a Complaint Letter, Reasons of Borrowing Claim Cards, Procedures for Burning Chemicals not Suitable for Use, Reason for Restricting Chemicals not Suitable for Use.
• How To Seek Redress

11 & 12 Revision&Examination

• 2ND TERM JSS3 BUSINESS STUDIES Scheme of Work and Note
• 3RD TERM JSS3 BUSINESS STUDIES Scheme of Work and Note

TOPIC: ADVERTISEMENT

i. Meaning of Advertising

ii. Forms/Types of Advertising

iii. Importance/rolesof Advertising

MEANING OF ADVERTISING

Advertising is the process of creating awareness among the members of public about a particular product. It ensures that customers are aware of the existence and availability of a particular product and they are persuaded to buy it. Advertising cantake various forms.

VARIOUS FORMS OF ADVERTISING

INFORMATIVE ADVERTISING

This kind is aimed at spreading information that will let consumers to know which goods and services are available.  

PERSUASIVE ADVERTISING

This is a type of advertising which tries to persuade customers to buy a particular brand of product as being different from other brands.

COMPETITIVE ADVERTISING

This is a type of advertising which is aimed at persuading customers to buy one brand of a product in preference to another brand by another produce r.

MASS/GENERIC ADVERTISING

This is a type of advertising in which manufacturers ofsimilar products or same commodity come together to jointly advertise their products to the consuming public.

IMPORTANCE/ROLE OF ADVERTISING

• To introduce new product – It creates awareness about the availability of aproduct.
• It enlightens members of the public on the usefulness of a product
• It creates awareness about the quality of a product.
• It helps consumers to compare prices of competing product.
• It helps to increase sales.
• Advertising helps in introducing a new product to the market.
• It helps in publishing brand names.
• It boosts a product’s share of the market.
• It enhances the public image of an organization
• It is a gentle way of reminding consumers about a product.

1. Define advertising.

2. List five roles of advertising

READING ASSIGNMENT

Business Studies for JSS3 by O. A. Lawal, pages 34 – 41

GENERAL EVALUATION QUESTIONS

1. What are aids to trade?

2. List the aids to trade that you know

3. Give another name for aids to trade

4. What is production?

5. Give the factor s of production with their respective rewards.

WEEKEND ASSIGNMENT

a. Transportation b.Communication c. Advertising d. Commerce

a. Information b. Informative c. Marketing d. Competition.

• Advertising___ demand for the advertised product. a. discourages b. reduces c. stimulates d. hinders.

a. competitive b. generic c. persuasive d. indirect.

a. marketers b. advertiser c. consumers d. produce rs.

• What is advertising?
• List five roles of advertising
• State five means of advertising

TOPIC: TRANSPORTATION

• Definition/Meaning
• Means of Transportation in Nigeria

DEFINITION/MEANING OF TRANSPORTATION

Transportation is concerned with the movement of people and goods from one place to another. This is concerned with all activities that ensure effective transportation system.

Those who engage in these services are drivers, pilots, sailors,etc.

IMPOTRTANCE OF TRANSPORTATION

• It facilitates efficient distribution of goods and services.
• It promotes trading activities.
• It facilitates efficient movement of productive resources i.e. man and materials.
• Transportation prevents waste. E.g. of perishable goods.
• It encourages the development of rural areas.
• It encourages trade between one country and another.
• Transport widens the market for goods and services i.e. taking goods and services to where they are needed most.
• It leads to economic growth and development.
• Transport helps to improve the standard of living of the people.

MEANS OF TRANSPORTATION IN NIGERIA

The means or methods of transportation in Nigeria are as follows –

A Road transport and

B Rail transport

The means of road transport in Nigeria are-

• motor vehicle
• motor-cycles

Transport by Rail : Train has its special route. It does not move on ordinary ground. The special iron tracks on which trains move are known as railway lines.

• Air Transport – This is carried out by means of aeroplanes fromone airport to another in Nigeria .
• Pipeline Transport: This is a suitable means of transporting liquid products such water, crude oil and gas.

1. Define transportation.

2. State the main modes of transportation.

Business Studies for JSS3 by O. A. Lawal, pages 41 to 49.

A. goods and services B. goods and loads C. people and children D. people and goods.

A. expands the scope of the market for manufactured goods. B. facilitates the distribution of goods C. increases the spoilage of goods D. encourages tourism.

A. Ferry B. Coaster C. Pipeline D. Road transport

• The means of transport that involves special iron tracks for it to move is known as ___ A. pipeline transport B. road water transport C. rail transport D. air transport.

A. Ferry B. Carmel C. Trailer D.bus.

• What is transportation?
• Give the main means of transportation
• State five importance of transportation

TOPIC: ADVANTAGES AND DISADVANTAGES OF TRANSPORTATION

ROAD TRANSPORT

ADVANTAGES OF TRANSPORT BY ROAD

1. Road transport is flexible.

2 It is a suitable means of transport for carrying perishable goods.

3 It is relatively a faster means of transport.

4 The maintenance cost is low.

5 Loading and unloading are easy.

6 It provides door-to-door service for transporting goods, etc.

DISADVANTAGESOF TRANSPORT BY ROAD

• The rate at which accidents happen is high.
• Congestions and traffic congestions occur in road transport.
• It is not suitable for carrying fragile goods.
• It does not operate on schedule.
• Welfare facilities such as canteens and toilets are not provided.
• It is not suitable for conveying heavy and bulky goods, etc.

RAIL TRANSPORT

ADVANTAGES OF RAIL TRANSPORT

• Trains carry bulky goods more than motor vehicles.
• Accidents are not common occurrence.
• Train fares are cheaper than that of motor vehicles.
• It is good for long distance journeys.
• Canteen and toilet facilities are made available in trains.
• Trains do not involve in traffic hold-ups, etc.

DISADVANTAGES OF RAIL TRANSPORT

• It is not flexible like road transport
• The maintenance costs of trains and their lines are high
• Loading and unloading of goods in trains are not easy
• Trains do not provide door-to-door service
• Trains cannot be used by firms to do door-to-door advertising
• Trains delay a lot on their ways as they stop from station to station,etc.

WATER TRANSPORT

ADVANTAGES OF WATER TRANSPORT

• It is the most suitable means of carrying bulky goods.
• It connects countries of the world.
• It helps to make international trade possible.
• It is cheaper in long distance journeys than air transport.
• Cargoes are expertly packed in ships.
• Luxurious facilities are provided in trains,etc.

DISADVANTAGES OF WATER TRANSPORT

• It is very slow especially in long distances.
• It is very expensive to acquire a ship.
• Construction of new seaports is very expensive.
• It is faced with the dangers of sea storms.
• It is not a common means of transportation.
• Loading and unloading of goods in ships is not easy,etc.

AIR TRANSPORT

ADVANTAGESOF AIR TRANSPORT

• Air transport is the fastest means of transport.
• It is the most suitable means of transporting perishable goods.
• When efficiency and comfort are essential, it provides the answer.
• It is conducted on schedule and therefore, it is reliable.
• It is a very good means of transport over long distances.
• It costs nothing to provide air routes, etc.

DISADVANTAGES OF AIR TRANSPORT

• Air transport cost is very expensive.
• It is not flexible because it is operated on schedule.
• It is not suitable for carrying bulky goods.
• Its operation is influenced by weather.
• Cost of construction and equipping of airports are expensive.
• Airports are located away from the people, etc.

PIPELINE TRANSPORTATION

ADVANTAGESOF PIPELINE TRANSPORTATION

1. It is a suitable means of transporting liquids.

2. It is cost effective.

3. It does not require elaborate preparation for loading and off-loading.

DISADVANTAGESOF PIPELINE TRANSPORTATION

1.Pipelines are prone to vandalisation.

2. Some pipelines carrying toxic materials can be dangerous to the environment when damaged.

3. The cost of patrolling the pipelines to guard against vandalisation is very high.

• State four advantage s of air transport.
• What are the five shortcomings of rail transport?

Business Studies for JSS3 by O. A. Lawal, pages 44 to 51

• —- is the fastest means of transport. A. Air B. Water C. Road D. Rail

A. Water B. Air C. Road D. Rail

A. Road B.Air C. Rail D. Pipeline

A. Road B. Rail C. Air D. Water

A. rail B. road C. water D. air

• State five advantage s and five dis advantage s of transport by air
• Mention three advantage s of water transport over air

TOPIC: COMMUNICATION

DEFINITION OF COMMUNICATION

Communication can simply be defined as exchange of information, news, ideas, opinions, etc. It can be oral or written.

IMPORTANCE OF COMMUNICATION

• The world is now one huge market place as a result of the ease in communication.
• By means of communication, the manufacturers, wholesalers, retailers and consumers can maintain constant contact
• It is now possible for business to obtain accurate market information without the need to travel.
• Communication encourages the free flow of goods from the point of manufacture to the point of need.
• Communication aids the quick settlement of foreign debts by means of telegraphic money order,etc.
• Communication provides useful means of controlling and directing aircraft in air.
• While in the middle of ocean, communication helps to direct and control ocean- going vessels.

TYPES OF COMMUNICATION

• Oral communication
• Written communication
• Advertising
• Non-verbal communication,etc.

2 . List five roles of advertising

Business Studies for JSS3 by O. A. Lawal, pages 50 to 51

GENERAL EVALUATION

1. What isinsurance?

2. Mention the types of insurance.

3. Give five principles of insurance.

4. State four importance of insurance.

5. Explain subrogation as a principle of insurance..

a. Drums b. Internet c. Letters d. Telephones.

• Metal gong is an example of ____ a. indirect b. modern c. traditional d. written.
• Which of the following is NOT a GSM service provider in Nigeria ? a. Airtel b. Nokia c. Globacom d. MTN
• The following are auxiliaries to trade EXCEPT a. advertising b. insurance c. communication d. accounting.
• communication b interviewing c celebrating d. none of the above.
• What is communication?
• Mention four importance of communication.
• Post office as Means of Communication:-
• Postal and Telegraphic Services:-
• A Ordinary letter Postage Service
• B Express Letter Postage Service
• C Postage by Air
• D Registration of Letters and Parcels

POST OFFICE AS A MEANS OF COMMUNICATION

NIPOST is an important branch of the Federal Ministry of Communications. Internal and international postal services are the major responsibilities of NIPOST.

POSTAL AND TELEGRAPHIC SERVICES

POSTAL SERVICES: As regards internal postal services within Nigeria , NIPOST delivers letters, parcels, cards, etc. Charges for these services vary from time to time.

TELEGRAPHIC SERVICES: NITEL makes it possible to dispatch telegrams within and outside Nigeria . It is also possible to send telegrams to ships on the high seas.

ORDINARY LETTER POSTAGE SERVICE: NIPOST carries and distributes letters to people and institutions within Nigeria . This is a very important service.

EXPRESS LETTER POSTAGE SERVICE: NIPOST dispatches express letters as quickly as possible and by the fastest available means. This service attracts extra charges.

POSTAGE BY AIR: Air mail service is a means by which the post office sends people’s mails by air through aeroplane.

REGISTERED LETTERS AND PARCELS

REGISTERED LETTERS: At times, some letters have very important documents attached to them or they themselves are very important. In any of these cases, such a letter may be registered toguarantee its safety. The post office collects extra charges for rendering this service to its customers.

REGISTERED PARCELS: Like the registered letters, parcels that contain important items are frequently registered by the post office at the request of its clients. This is done to secure the content of such parcels. For this service, the post office also charges the customer more.

INTERNATIONAL, TRUNK AND LOCAL CALLS: The post office renders the above telephone services to its customers. These areexplained as follows.

INTERNATIONAL CALLS: These are calls made from one country to another. Different rates are charged for such calls based on the country to which the call is made and the duration of each call.

TRUNK CALLS: These are calls made within a country but from one town to another. Examples are calls from Lagos to Ibadan or from Asaba to Kano all in Nigeria . Also different rates apply to different calls depending on the time of the day or night the call is made and the duration of such calls.

LOCAL CALLS: Local calls are calls made within the same town. For example a call from Yaba to Oyingbo in Lagos Mainland.

1. Explain: a. registered letters b. ordinary letters and c. trunk calls.

2. Mention four types of communication

Business Studies for JSS3 by O. A. Lawal, pages 51 to 58

• What is a typewriter?
• Give ten parts of typewriter
• Which is the moveable part of typewriter when typing?
• Give the function of each part of typewriter as mentioned above
• In what year was typewriter invented?

a trunk b local c internal d international

2 Which of the following attracts extra charges to handle?

a ordinary mail b post card c business letter d express letter

3 A call from Lagos to Accra is an/a —- call.

a local b trunk c ordinary d international

4 — helps to save an ocean going vessel in danger

a diagram b telegram c programme d none of the above

5 The following are services rendered by the post office except?

a. express letters b. money orders c. poster orders d. satellite services

• List and explain three importance of communication.
• How does communication serve as an aid to trade? Give five examples.

TOPIC: SIMPLE SINGLE BUSINESS GOALS.

• Meaning of Business Goals
• SWOT Analysis
• Meaning of Business Plan

MEANING OF BUSINESS GOAL

It is important that when setting up a business, the entrepreneur identifies the goals to be achieved.Thereafter he/she targets and works at achieving these business goals. Therefore, a business goal is a business objective or target to be achieved by a specific period. A business may fail if its goals are not identified at the initial stage.

SWOT ANALYSIS

SWOT analysis means the designed plan to find out the strengths, weaknesses, opportunities and threats of a business. SWOT is an acronym for:

S- Strengths. Strengths refer to the internal characteristics of a business which give it an advantage over others. For example sufficient capital, strategic business location, effective and efficient work-force and good customer relation can help a business venture to achieve its goals.

W-Weaknesses. Weaknesses are the internal characteristics that put a business at a dis advantage in comparison to others. For instance, insufficient capital, low-standard products, poor marketing, poor customer services, absenteeism among workers, etc.

O- Opportunities. These are external factor s or characteristics of a business environment that help the objectives of the business. Example provision of infrastructural facilities such as good roads, constant power supply,etc.

T- Threats. These are theexternal factor s of a business environment that can have adverse effects on the business. Example: the enactment of a new law by the government, bad debt, etc.

SWOT analysis can be carried out for an enterprise, a product, an industry or a venture. SWOT analysis should precede the setting of business goals as this will enable achievable goals and objectives to be set for the business.

• Define a business goal.
• What is SWOT analysis?

WABP Business Studies Book 3 Pages54 to 63

• What is a sole proprietorship?
• Give three advantage s and three dis advantage s of sole proprietorship.
• State four other forms of business organizations that you know.
• Who is an entrepreneur?
• State four qualities of an entrepreneur.

(a) business strategy (b) business purpose (c) business document (d) business map.

• Before establishing a business venture, it is necessary to identify the goals of such business. (a) Sometimes true (b) False (c) Always true(d) One cannot be sure
• Who among the following should be the one to identify the business goals? The___ (a) receptionist (b) secretary (c) manager (d) entrepreneur

(a) objectives (b) threat (c) strengths (d) weakness

• Insufficient capital and poor customer services can be regarded as ___ to a business. (a) threats (b) weaknesses (c) opportunity (d) strengths.
• What is a business goal?
• Give the acronym of SWOT.

TOPIC: DRAWING A SIMPLE SINGLE BUSINESS PLAN.

BUSINESS PLAN

A business plan is a written document which describes the objectives of a business and the strategies of achieving the objectives. A business plan is like a road map giving the direction of a business. The business plan contains the background information about a business venture.

CHARACTERISTICS OF A BUSINESS PLAN

• A good business plan must be clear in its objectives to be achieved.
• A good business plan must be reasonable and achievable.
• It must be measurable and easy to determine if the business is growing or not.
• It must be time-bound and state how long the objective will be achieved.
• It must be in written form so that it will be easy to refer to.

USES OF A BUSINESS PLAN

• It acts a guide to the business and its operations.
• It helps the entrepreneur to research into the business they want to pursue
• It helps the employees to know the objectives of the business thereby enabling them to work towards these objectives
• It helps develop the policy or rules for the business

PROCEDURES FOR DRAWING A SIMPLE SINGLE BUSINESS PLAN

• Background/preamble—It has the product/service, its name,logo, visionand goals.
• Market Research—–Find out customers’ want and needs, pricing and competitors in the market.
• Marketing—-Creating awareness for the goods.
• Production—method of production and quality control.
• Organization/management—showing number of people that will be employed and their duties.
• Finance—-estimating amount to start a business, its source and how it is to be expended.
• Action plan.
• What is a business plan?
• State two uses of a business plan.

WABP Business Studies book 3 Pages54 to 63

• What is an office?
• Mention the types of an office that you know and give an example for each.
• State seven functions of an office.
• Give seven components of Business Studies.
• What is trade by barter?
• The written form of a business’ objectives and their strategies is called business ___ (a) product (b) service (c) plan (d) management
• The external factor s of a business environment that can have negative effect on the goals of a business are termed as ___ (a) objectives(b) strengths (c) threats (d) weaknesses
• The business plan should describe the business objectives and the ___ of achieving it.(a) layout (b) components (c) strategies (d) plan.
• Which one of the following is not a characteristic of a business plan?(a)Achievable (b)Measurable (c) Cheap and easy (d)In written form.
• Which is the first procedure in drawing the business plan? (a)Action plan (b) Market research (c)Background preamble (d)Production
• Define a business plan.
• State three uses of business plan to an entrepreneur

TOPIC: CONSUMER PROTECTION AGENCIES

• Meaning of Consumer Protection
• Meaning of Consumer Protection Agency
• Need for Consumer Protection
• Agencies of Consumer Protection

MEANING OF CONSUMER PROTECTION

Consumer protection is a way of ensuring that consumers enjoy maximum protection from the goods they buy and the services rendered to them. This helps to reduce and prevent the exploitation of the consumers such as low quality products and exorbitant prices on of goods and services.

MEANING OF CONSUMER PROTECTION AGENCIES

Consumer protection agency is an agency set up for the purpose of monitoring the activities of the manufacturer and the middlemen in order to avoid exploitation and unscrupulous activities.

NEED FOR CONSUMER PROTECTION

• To reduce price increase caused by artificial scarcity by the manufacturers and the middlemen
• To prevent consumers from buying low quality products as a result of false advertisement.
• To ensure that consumers enjoy maximum satisfaction from the goods they buy and the services rendered to them.
• To ensure that consumers have constant supply of some essential goods and services
• To prevent artificial scarcity of goods as a result of hoarding by themanufacturers and the middlemen

AGENCIES OF CONSUMER PROTECTION

There are three basic organs or agencies of consumer protection and these are government agencies, the legislations and independent organizations.

GOVERNMENT ORGANISATIONS

• National Agency for Food Drug Administration and Control(NAFDAC): This is established by the federal government to oversee the production and distribution of food and drugs so as to examine the conditions under which such foods or drugs are produce d. It safeguards the health of the nation.
• National Drug Law Enforcement Agency (NDLEA): This is established by the Federal Government to eradicate the use of hard drug and its trafficking.
• Standard Organization of Nigeria : This is established to ensure that both goods produce d and imported into the country are of good standard and quality.
• Ministry of Health: This regulates the safety of the food items. For instance the cleanliness of abattoir, the healthiness of animals to be slaughtered
• Ministry of Environment: This regulates the building of houses and the sanitation of the environment.

LEGISLATIONS

These are laws made to protect consumers and they include the following.

• Sale of Goods Act 1893: This law protects consumers from buying goods that do not conform to the description and sample advertised.
• Weights and Measures Act 1963: It protects the consumers from being exploited in the weights and measures of goods.
• Food and Drug Act: It protects consumers from buying goods that are not well labeled or fit for human consumption.
• Rent Edicts: This helps to reduce the exploitation of tenants by landlords and agents.
• Hire Purchase Acts 1965
• Misrepresentation Act 1968
• Consumer Credit Act 1974

INDEPENDENT ORGANISATION

These are non-governmental bodies that help in protecting the interests of consumers. They include the following.

• Trade associations
• Consumer Associations
• Research Institutions.
• Define consumer protection.
• Mention four laws enacted to protect consumers.

Business Studies for Junior Secondary School 3 by O.A Lawal,Pages56-59

• Define manuscript.
• What is a margin?
• Give ten types of office equipment.
• State the function of each of the office equipment.
• State four roles of wages office.
• A way of making sure that consumers derive maximum satisfaction from the goods and services they buy is called ___ (a) Consumer exploitation(b) Consumer manipulation (c) Consumer protection (d) consumer legislations
• The following are the needs for protecting the consumers except (a) to avoid arbitrary behavior (b) to ensure constant supply of essential product (c) to allow unscrupulous activities of the manufacturers (d) to prevent false advertisement claims.
• Consumer need to be protected against fake and substandard products. True/False

(c) Weights and Measures 1963 (d)Food and Drug Act 1995

• The agency that eradicates the use and trafficking of hard drug is called___ (a) NAFDAC (b) SON (c) Ministry of Environment(d) NDLEA
• What are consumer protection agencies?
• List five government organizations that protect consumers and state the role of each one of them
• Give five forms of business organization.
• Describe each of the forms of business organization as mentioned above
• Which is the oldest form of business organization?
• Give three merits and three demerits of the oldest form of business organization.
• What is book keeping?

TOPIC: HOW TO MAKE COMPLAINTS

• Meaning of a Complaint
• Justified and Unjustified Complaints
• Benefits of Resolving Complaints
• Consumer Redress

MEANING OF A COMPLAINT

A complaint is an expression of dissatisfaction with a behaviour, an activity, a product or a service which can be oral or written, justified or unjustified. Consumers may express dissatisfaction with a product or a service and this may be in order to get compensation.

JUSTIFIED AND UNJUSTIFIED COMPLAINTS

A complaint is justified where such complaint has a good defendable basis. For instance, a consumer may order for a particular product, pay for the products, take the product home for use only to find out that such product does not perform to expectation. The consumer is justified to make a complaint provided he/she has followed the instruction given on the use of the product.

On the other hand an unjustified complaint is a complaintthat has no fair basis for redress. For instance a customer who has bought a blender and does not enjoy the use of the blender may not have a good basis for making a complaint where he/she has handled the equipment poorly or he/she has not followed the user’s manual.

STEPS TO LODGING A COMPLAINT

It is necessary that complaint be made as soon as dissatisfaction is noticed. Hence, whenever a consumer has a complaint about a product or a service, he/she can call a company’s number dedicated to receiving complaints and talk about the problem to a representative of the organization offering the service. Such problem discussed on phone can be dealt with on spot.

Also, the company may have designated hours for addressing customers’ complaints. For instance, Monday to Friday {9am to 12pm}. A complaint can be made by e-mail, where a link is selected and the complaint is made. A complaint could be made by writing a letter. Here the letter is addressed appropriately to the organization. The response to the complaint may be immediate, depending on the nature of the complaint.

FORMATS OF COMPLAINTS

The different formats of presenting complaints are:

• In large prints
• In audio tape
• Define a complaint
• Distinguish between justified and unjustified complaints

BENEFITS OF RESOLVING COMPLAINTS

• It offers opportunity to examine and put right weaknesses found in a product or the delivery of a service.
• It engenders a happier consumer base thereby improving customer loyalty.
• It leads to reduction in administrative costs since there will be no need reporting complaints which have earlier been resolved within a business day
• It leads to reduction in follow up correspondence and requirements
• Define consumer complaint.
• State the types of consumer complaint.

WABP Business Studies JSS3 by EgbeEhiametalor et al, pages 71 to 77

• State the means of making payment.
• A complaint can be oral or writtena. True b. False
• An expression of dissatisfaction is called ___ a. redress b. complaint c banning of product.
• A complaint that has a defendable basis is known as___ complaint. a. wholesome b. clean c. justified d. unjustified.
• Resolving complaints brings the following benefits EXCEPT ___ a. engendering a happier customer b. improving customer loyalty c. increasing customers’ complaint d. creating opportunity to examine a product.
• Which of the following agencies protects consumers? a. EFCC b. INEC c. NAFDAC d. NECO
• What is a complaint?
• Explain the following: i. justified complaint ii. Unjustified complaint.
• List the steps to take when making a complaint

TOPIC: HOW TO SEEK REDRESS

• Meaning of consumer right and redress
• Ways of seeking redress
• Benefit of providing redress

Consumer rights are the benefits which consumers must enjoy from the purchase of goods and services.

ORIGIN OF CONSUMERISM

Consumerism can be defined as the organized efforts of consumers to protect themselves against unfair practices of businessmen.

Consumerism came into existence when a movement started in the 1960s to obtain a greater say in the quality of the products they bought and the information they received from the sellers.They also sought to increase their influence, power and rights. This is the whole essence of the theory of consumerism.

EIGHT UNIVERSAL CONSUMER RIGHTS

• They have the right to choose between alternatives.
• Consumers have the right to good things of life.
• They have the right to safety.
• The consumers also have the right to be heard.
• They have the right to be informed.
• Consumers have the right to seek redress to correct any injustice.
• Consumers have the right to get value for money.
• They have the right to live in a healthy environment

Mention the eight universal consumer rights.

WAYS BY WHICH CONSUMERS CAN BE PROTECTED

• Formation of consumer associations to test whether items are of good quality or not and to make recommendations.
• There should be Foods and Drugs Act to see to it that all consumable items have expiry dates.
• Price control measures should be put in place to curb any arbitrary price increases.
• All advertisements should be censored before being shown on the screens.
• There should be Sales of Goods Act to ensure that quality goods are sold to consumers.
• There should be weight and measures Act to ensure that goods are sold in the right quantity as well as trade description.  
• What is consumerism?
• Mention four ways by which consumers rights can be protected.

CONSUMER REDRESS

Consumer redress is the act of setting right a wrong that has been done to a consumer over a product bought or service rendered. A consumer can seek redress through the law court. The rights of redress can be any of the following.

• Criminal redress: This means initiating criminal proceedings against any persons involved in the adulteration or mislabeling of various regulated foods and drugs
• Civil redress: This is when the consumer of a product institutes a civil action against its produce rs or sellers particularly where the regulatory agencies cannot compensate the victims of unsafe or unwholesome products that are regulated by agencies like NAFDAC, SON and CPC.
• Regulatory/Administrative redress: Consumers can seek redress through any of regulatory bodies like CPC or SON which have the mandate to regulate the product or service which they have a complaint on. For instance, a consumer who bought a faulty iron with a warranty from a known company may return it. But where such return is not accepted, then the customer can meet the regulatory bodies such as SON which can take up the issue and enforce the warranty and make the company give the consumer a new iron.

STEPS IN SEEKING REDRESS

• Reporting any complaint as soon as possible.
• Give names,addresses and phone number of persons or companies including your name, address and phone number .
• State the problem with full description of the products and its identification marks.
• Indicate the name address of store of the purchase and date of purchase (possibly attaching photocopy of receipt).
• Forward the letter of complaint to the manufacturer or distributor whose address is on the label of the product bought.

BENEFITS OF PROVIDING REDRESS

• The consumer is happy that he/she has been listened to and that the problem has been solved.
• The intervening regulatory agency will be seen as efficient and this will add to their experience in resolving consumer complaints.
• It improves the public relation profile of the company.
• It eliminates litigation on issues when redress is provided immediately for complaints.
• It allows for more research and development leading to the growth of the company
• What is consumer redress?
• State three steps to follow in seeking consumer redress

BANNING AND RESTRICTING CHEMICALS NOT SUITABLE FOR USE

Nigeria is a signatory to the international drug, food and chemical control treaties. Hence, chemicals are banned internally and locally when such chemicals are discovered to be harmful or hazardous to human health: more so, if there are safe alternatives. To ban something means to prohibit or bar it. Banned chemicals should not be imported into the country. It is against the law for an individual or a company to be in possession of banned chemicals.

On the other hand, to restrict something meansto make something not easily available. There are chemicals which are not banned but are restricted. This means the use of such chemicals are controlled for some reasons as there are likelihood of turning them into hard drugs or chemical weapons. Restricted chemicals will require special permit to import and clear them.

However chemicals are banned and restricted where:

• they are fatal if inhaled or ingested.
• they cause irritation to eyes, nose, throat, rashes to skin, vomiting and diarrhea.
• they produce fumes which may cause lung cancer.
• they destroy red blood cells.
• they cause birth defects in unborn babies.
• they affect neurological cells.
• they affect the hormones.

PROCEDURES FOR BANNING AND RESTRICTING CHEMICALS NOT SUITABLE FOR USE

Nigeria is a signatory to Prior Informed Consent (PIC), which gives information on banned and restricted chemicals. Whenever scientific finding states that a certain chemical is harmful, a country belonging to the PIC bans and restrict such chemicals, following these procedures.

• A notice is sent to the international PIC secretariat that a chemical has been discovered to be harmful.
• The secretariat makes further enquiries to verify the information.
• A summary of the information gathered is forwarded to all members of the PIC convention.
• When the PIC secretariat receives response from one or two countries , it sends it to its chemical review committee.
• The PIC later sends its recommendations to the conference of its members countries .
• Once the countries have accepted the banning or restricting of the chemical, this is circulated with reasons for the action taken.
• State two reasons for banning chemicals not suitable for use.
• List the procedures for banning and restricting chemicals not suitable for use.
• What is a commercial bank?
• State four functions of commercial bank.
• Define a cheque.
• Give four reasons why a cheque can be dishonoured.
• Describe a stalecheque.
• The act of putting right the wrong that has been done is called__ a. redress b. complaint c. restricting d. accommodation.
• One of the following is not a consumer right. a. right to choose b. right to safety c. right to credit facility d. right to be informed
• All of the following are reasons for banning chemicals EXCEPT ___ a. when they affect red blood cell b. when they affect hormones c. when they improve human health d. when they affect neurological cells.
• The full meaning of PIC is ___ a. People s’ Interest Committee b. Personal Interest Council c. Prior Informed Consent d. Procedural information Council.
• Consumers can seek redress through the following agencies EXCEPT ___a. CPC b. NAFDAC c. SON d. NDLEA.
• criminal redress
• Civil redress
• administrative redress.
• Give three ways by which consumer rights can be protected.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Accept Our Privacy Terms.*

I have read and accepted the Privacy Policy *

Energy resources in Uganda

Biology form 3 notes : ecology, related posts.

Physics Form 1 Notes : CHAPTER FOUR – PRESSURE

Business Studies Form 4 Notes : MONEY AND BANKING

TRANSPORT AND COMMUNICATION QUESTIONS AND ANSWERS

METAL WORK KCSE PAST PAPERS QUESTIONS AND ANSWERS PDF

• [email protected]
• 0803-328-8628

JSS 3 Business Studies

INTRODUCTION

This online lesson is very valuable, concise and easy to understand – designed to help students study easily and pass excellently. It aligns well with the National Education Research and Development Council (NERDC) approved Curriculum.

It contains Subject notes (eTextbooks), weekly schemes of work, assignments, revision notes, mock tests, practice exams and quizzes designed to assess students’ knowledge of the subjects.

HOW TO LEARN

Please register or login, then click the ENROL or START LEARNING button to get registered and start your learning.

LESSON OBJECTIVES

• Complement classroom lessons with relevant e-content
• Help Students to become competent in the different subject areas
• Eliminate exam fever by helping students to practice and prepare adequately
• Engender positive engagement and collaboration with other students and teachers

You may leave comments and questions related to each lesson within the comments box at the bottom of each lesson. You can also call, text or WhatsApp us on 0802-419-8880 or reach us through our online chat/support channels

Effective Office Practice

• Office Procedure
• Office Equipment
• How to Make a Complaints
• How to Seek Redress

Commerce - The Heart Of Business

• Advertising
• Transportation
• Communication
• Setting Simple Business Goals
• Simple Single Business Plan
• Consumer Protection Agencies
• How to make complaints
• How to seek redress

Book-Keeping And Business Success

• Personal Finance
• Forms of Trial Balance
• Trial Balance
• Trading, Profit and Loss Account
• Balance Sheet

Keyboarding As A Communication Tool

• Business Letters
• Simple Tabulation

0.00 average based on 0 ratings

Course Features

• Duration : 19 week
• Enrolled : 8760
• Assessments : Self

Average Rating: 0.00

Remember Me

Create a new account

Modal title

Message modal

Insert/edit link

Enter the destination URL

Or link to existing content

Have an account?

Suggestions for you See more

Sectors of Economy

Marketing promotion test review, 9th -  12th  , cash flow forecast, quality management, marketing mix, market segmentation & market research, 9th -  11th  , entrepreneurship, 11th -  12th  , entrepreneurship final.

BUSINESS STUDIES JSS 3 - Simple Single B...

BUSINESS STUDIES JSS 3 - Simple Single Business Plan

15 questions

Introducing new   Paper mode

No student devices needed.   Know more

Complete the sentence: A business plan...

is useful once your business is operational but not much help during the startup phase

is not usually needed once the business is up and running

can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

What is an Entreprenuer?

A person who starts a business because he wants to lose money.

A person who starts a business because he wants to steal money.

A person who starts a business because he wants to scam other people's money.

A person who starts a business because he wants to make money.

Why do you need a business plan?

To explain your idea

the ability to get financing.

it's a road map that sets objectives and goals for the business

All of the above

Your business plan should never list any risks or potential problems.

A business plan is a road map that helps direct a company to success.

Business Plan is a document that shows in detail how an entrepreneur should set up his business .

Which of the following statements about business plans is TRUE?

Business plans eliminate risk to lenders

Business plans reduce risk to lenders

Business plans increase risk to lenders

Business plans have no impact on risk to lenders

• 9. Multiple Choice Edit 30 seconds 1 pt What is the best definition of an Entrepreneur  "a person who organizes and manages any business, especially a  business an organized body of people with a particular purpose, especially a business, society, association, etc. a society or organization founded for a religious, educational, social, or similar purpose. Entrepreneur is not a word

The primary purpose of a business plan is to define what the business is or what it intends to be over time.

A business plan can predict exactly what will happen in the future.

It is like a road map which directs the entrepreneur on which road to take in order to put his business ideas in action in order to be successful.

Which of the following statements not one of the Uses Of Business Plan To The Entrepreneur?

It helps an entrepreneur to think in details the business he wants to pursue.

It enables the entrepreneur to research into the business he wants to pursue.

It helps the entrepreneur to state in writing who will own and run the business.

Business plans shows all supervisors name.

Which of the following statements not one of the Uses Of Business Plan To The Employees?

It helps employees to know the goals of the business.

It enables employees to enrich themselves illegally in the business.

It helps employees to know who they are directly responsible to.

It helps employees to know how costs and prices are worked out.

Which of the following statements not one of the Uses Of Business Plans To The Investors?

It helps them to know whether the business will make money in future or not.

It helps them to know how the entrepreneur takes decisions.

It helps them not understand how viable the business is going to be in future.

It helps them to know how accountable the management is and the structure that is put in place for growth.

Explore all questions with a free account

Continue with email

Continue with phone

ALL SAINTS SECONDARY SCHOOL,OYIGBO

DAY AND BOARDING SCHOOL

• ICT Department
• Science Department
• Food & Nutrition
• Junior School Courses
• Senior School Courses

JSS 3 Business Studies

SUBJECT: BUSINESS STUDIES

CLASS: JSS3

Topic: SIMPLE SINGLE BUSINESS PLAN

Copy this note in your notebook

 Meaning : Business Plan is a document that shows in detail how an entrepreneur should set up his business. It is like a road map which directs the entrepreneur on which road to take in order to put his business ideas in action in order to be successful.

  Uses Of Business Plan To The Entrepreneur

• It helps an entrepreneur to think in details the business he wants to pursue.
• It enables the entrepreneur to research into the business he wants to pursue.
• It helps the entrepreneur to state in writing who will own and run the business.

  Uses Of Business Plan To The Employees

• It helps employees to know the goals of the business.
• It helps employees to know who they are directly responsible to.
• It helps employees to know how costs and prices are worked out.

 Uses Of Business Plans To The Investors

• It helps them to know whether the business will make money in future or not.
• It helps them to know how the entrepreneur takes decisions.
• It helps them understand how viable the business is going to be in future.
• It helps them to know how accountable the management is and the structure that is put in place for growth.

  Characteristics Of A Business Plan

• A business plan must show how long it will take to achieve its goals.
• Whatever that is written in a business must be clear to avoid confusion.
• It must be written in such a way that the reader must be convinced that the business will grow over a period of time.
• A business plan must be in writing for reference.
• A business plan must state goals that are realistic otherwise investors will be scared away leaving the entrepreneur frustrated.

 Procedure For Drawing Up Business Plan

• Introduction : Here, describe exactly what you are proposing – this includes, type of goods or service to render, name of business, logo if any and goals to achieve.
• Market Research : Find out what appeals to customers and also know who your competitors are in the business.
• Marketing : Here, you have to show how customers can be aware of your product, maybe through advertising.
• Production : State methods to follow in order to come out with a quality product.
• Finances : Specify the amount of money needed and how the money is to be used, also state sources of getting money for expansion.
• Organization/Management : Here, show number of people that will be employed and their duties. Use organizational chart to clearly show the roles if top management people.
• Action Plan : Explain what your production targets are and the plans mapped out to reach your target.
• Summary : Here state other points that are important. Also explain your business acumen and your managerial skills and experiences in your line of business.

 Assignment

• Define a business plan
• State two uses of a business plan
• Mention two characteristics of a business plan.
• List four procedures for drawing up a business plan.

To be submitted in school at the security post.

Download Document Here  JSS 3 Bus. Studies

One Thought to “JSS 3 Business Studies”

[…] Copy this note in your notebook. Meaning: Business Plan is a document that shows in detail how an entrepreneur should set up his business. It is like a road map which directs the entrepreneur on which road to take in order to put his business ideas in action in order to be successful. via […]

Leave a Reply Cancel reply

Recent posts.

• Important Notice July 23, 2024
• Closing Mass Celebration July 18, 2024
• All Saints’ 2024 Graduation Ceremony July 1, 2024
• 2024 SSCE FOOD & NUT PRACTICALS May 19, 2024
• Notice Of School Resumption April 19, 2024

Recent Comments

• argumentative essay helper on MAKING OF THROW-PILLOW
• best custom essay on MAKING OF THROW-PILLOW
• osawaru praiseGOD on JSS 2 HISTORY NOTES WITH ASSIGNMENT
• osawaru praise on JSS 2 HISTORY NOTES WITH ASSIGNMENT
• Akaneme Chizoba on JSS 2 HISTORY NOTES WITH ASSIGNMENT
• Inter-House Sports
• school awards
• Uncategorized

Rated 4.8/5 by parents & students

• JSS1 Class Notes
• JSS2 Class Notes
• JSS3 Class Notes
• SSS1 Class Notes
• SSS2 Class Notes
• SSS3 Class Notes
• Teachers Resources
• Post Secondary Education & Career Counseling
• About Passnownow
• Plans & Payments

Business Studies JSS 3 First Term

• Advertising/Media/Jingles
• Communication
• Consumer Protection and Awareness
• Living a Modest Life
• Advantages/Disadvantages of transportation
• Simple Single Business Goals
• Drawing a simple single business plan
• How to make complaints
• How to make complaints (contd.)

8 thoughts on “Business Studies JSS 3 First Term”

How do I login pls?

WHY IS TRANSPORTATION NOT AMONG THEM

How do you get the past questions online?

It is a nice profile

Scheme of work for J S 3 is not showing

Thank you now now

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Subscribe to our Newsletter and join hundreds of thousands of Learners and Teachers who rely on Passnownow.com everyday syllabus-based class content and stay up to date with the latest gist on teen stuff, schools, education and scholarship/internship opportunities from around the World

Drawing of Plans and Blue-Print

Interpret symbols on plans and blue-prints; Identify the components of a building plan; Draw and interpret the plan of their classroom.

What you'll learn

• Common symbols used in plans and blue-prints and their interpretation.
• Identification of building components (fittings; sanitary wares e.g. sink, bath, showers, soak-away, septic tank, socket, windows, doors, etc.) on building plans.
• Blue Print Drawing Techniques.

Your Teacher

Pheobe Shedu

• 12 Lessons Taught
• 4.6 Teacher Rating

Lesson Note on BUSINESS STUDIES for JSS3 FIRST TERM MS-WORD- PDF Download

$ 10 Original price was: $10. $ 5 Current price is: $5.

This lesson note covers all the topics in JS3 (First Term) and serves as a reference material to help teachers draw out their lesson plan easily, saving you valuable time to focus on the core job of teaching.

Satisfaction Guaranteed

This resource is 100% quality checked!

Description

Additional information.

• Reviews (5)

Lesson Note on BUSINESS STUDIES for JSS3

Are you interested in getting Lesson Note on BUSINESS STUDIES for JSS3 FIRST TERM? Here is the most concise compilation available online.

The Lesson note covers all the topics in 1st term and it is based on the latest NERDC / UBE Curriculum and applies to all Nigerian schools.

TABLE OF CONTENT:

WEEK 1                      TOPIC: ADVERTISING

WEEK 2                      TOPIC: TRANSPORT

WEEK 3                       TOPIC: ADVANTAGES/DISADVANTAGES OF TRANSPORTATION

WEEK 4                       TOPIC: COMMUNICATION

WEEK 6                       TOPIC: SIMPLE SINGLE BUSINESS GOALS

WEEK 7                       TOPIC: DRAWING A SIMPLE SINGLE BUSINESS PLAN

WEEK 8                       TOPIC: CONSUMER PROTECTION AND AWARENESS

WEEK 9                        HOW TO MAKE COMPLAINTS

WEEK 10                     TOPIC: HOW TO MAKE COMPLAINTS (CONTD.)

WEEK 11                      TOPIC: LIVING A MODEST LIFE

Who should Get our Lesson Note on BUSINESS STUDIES for JSS3?

The purpose of this book  is to help teachers draw out their lesson plan easily. Students will also find it helpful as a study note (eNote) for study purpose.

It is delivered in PDF format or MS-Word format, depending on your choice.

For Bulk purchases, Please visit our wholesale page or Click here to Contact us. (We respond typically within 3minutes.)

5 reviews for Lesson Note on BUSINESS STUDIES for JSS3 FIRST TERM MS-WORD- PDF Download

Tobi Ademiju (verified owner) – October 19, 2022

I love it….. lesson notes with meaningful downloadable resources

Michael Arinze (verified owner) – October 19, 2022

Highly recommended for newly interested teachers.

olowolayemo oluwatosin (verified owner) – October 19, 2022

I really advice this book if you are a new teacher like me.Thank to the authors

Anonymous (verified owner) – October 19, 2022

Do you also have lesson plans?

Ololade Ibrahim (verified owner) – October 19, 2022

Excellent for planning and implementing a successful lesson plan

Your email address will not be published. Required fields are marked *

Your review  *

Name  *

Email  *

Related products

Civic Education Exam Questions and Answers for Primary 1- PDF Download

Primary 6 Basic Science Exam Questions and Answers

English language Exam Questions and Answers for Primary 1- PDF Download

Balance Sheet

Back to: BUSINESS STUDIES JSS3

Welcome to Class !!

We are eager to have you join us !!

In today’s Business Studies class, We will be learning about the Balance Sheet.  We hope you enjoy the class!

A balance sheet can be defined as a statement showing the assets and liabilities of the business as at a given date. A balance sheet is not an account and so it does not have debit or credit side. Also, it does not have balance brought down or balance carried down.

CLASSIFICATION OF ASSETS AND LIABILITIES

Assets: These are the valuable resources of a business. Among these resources, we have the ones that are more permanent in nature and others less permanent. The more permanent assets e.g. land and buildings, office equipment plant and machinery furniture and fittings, motor vehicles, etc are referred to as fixed assets. The less permanent ones are referred to as current assets. Examples of current assets are stock, trade debtors, bills receivable cash at bank, cash in hand, etc.

Capital: This is worth the business owes the owner of the business. In other words, capital is the amount which is used to establish a business.

Current Liabilities: are the debts a business owes outsiders which should be repaid within one year. Examples are trade creditors, bank overdraft, accrued expenses, bills payables, etc. A format of a balance sheet is as follows:-

BALANCE SHEET

• Define a balance sheet
• List four examples of fixed assets

Reading Assignment 

Read Business studies for JSS 3 by O. A. Lawal pages 86 to 90.

GENERAL REVISION QUESTIONS

• What is a trial balance?
• Where do you prove the accuracy of double-entry bookkeeping?
• Define balance sheet
• State three current liabilities
• List three current assets

WEEKEND ASSIGNMENT

• Balance Sheet is_____   A. Assets and liabilities B. income and expenditure of a business C.  the principal book of account where all entries in the subsidiary books are posted to D.  a statement showing the assets and liabilities of the business as at a given date
• An example of a fixed asset is A. debtors     creditors  C.  motor van D.  bills receivable
• _______ is a current asset   A. Stock  B.  Furniture C.  Drawings  C.  Bills payable
• _________ is a current liability   A. Stock  B.  Machinery C.  Drawings  D.  Bills payable
• The amount a business owes the owner(s) is called   A. assets  B.  liabilities C.  capital  D.  drawings
• Write short notes on (a) Assets  (b) Liabilities (c) Drawings
• Prepare a format of a balance sheet with at least ten items.

We have come to the end of this class. We do hope you enjoyed the class?

Should you have any further question, feel free to ask in the comment section below and trust us to respond as soon as possible.

In our next class, we will be talking about Trading Account.  We are very much eager to meet you there.

Share this lesson with your friend!

• Click to share on Twitter (Opens in new window)
• Click to share on Facebook (Opens in new window)
• Click to share on Telegram (Opens in new window)
• Click to email a link to a friend (Opens in new window)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

ClassNotes.ng is an Afrilearn brand.

• 08051544949
• [email protected]
• Teach for CN
• Testimonials
• Terms of use
• Privacy Policy

Weekly Newsletter

WhatsApp us