Education

WHAT IS PARTNERSHIP IN BUSINESS? NEW DEVELOPMENTS 2024 A partnership is a business organisation formed and owned by two or more people known as partners to carry out business with an aim of making profit. OR Is the association of two to twenty peoples carrying on a business in common with a view of making profit. FEATURES OF PARTNERSHIP They …

KEY DEFINITIONS OF BUSINESS UNIT Definition Is an organization or firm that deals in the production or distribution of commodities usually for the purpose of making profit. It may be set up by an individual or group of individuals and its size depends on the amount of capital invested.  FORMS OF BUSINESS UNIT       (i) Public sector     (ii)  Private …

DEPTH OF STOCK EXCHANGE MARKET : 2024 UPDATES Is the market which deals with the purchase and sale of already issued security such as share, bonds, etc.  BROKERS Are the people who buy and sell share on behalf of others. Anybody wishing to buy a share must approach a broker, who will brief him on various matter and offer free …

LIST TYPES OF INSURANCE RELEVANCE TO MARKET Insurance can be divided into two main parts; 1. Assurance/ Life Insurance 2.General Insurance ASSURANCE/LIFE INSURANCE Refers to Insurance against human life i.e -Death -Old age for specific years POLICY UNDER LIFE INSURANCE Endowment policy The money is paid to his relatives at his death or when the period expected whenever is earlier. …

PRINCIPLES OF INSURANCE EXPLAINED 2024 The system of insurance depends upon certain doctrine (principles) which both the Insurer and the Insured are required to obey. These are; Indemnity Insurable interest Utmost good faith (Uberrimae fidei) Proximity cause Subrogation Contribution Indemnity This principle requires that the compensation given to  the Insured should only restore him to the exact financial position he was …