The objective is to: 1. Explain the meaning of a business transaction 2. Distinguish between cash and credit transaction 3. Determine the effects of transactions on the balance sheet 4. Discuss causes of changes in capital 5. Determine the initial and final capital of a business

The objective is to: 1. Explain the meaning and purpose of a ledger 2. Explain the concept of double entry 3. Explain the meaning and format of a ledger account 4. Explain the rules of recording business transaction in ledger accounts 5. Record business transactions in various ledger accounts 6. Describe the procedure of balancing

The objective is to: 1. Distinguish between a firm and an industry 2. Discuss the factors which influence the decision on what goods and services to produce 3. Describe the criteria of determining the size of a firm 4. Explain the factors that influence the location of a firm 5. Discuss advantages and disadvantages of

The objective is to: 1. Explain the meaning of a market 2. Explain the meaning of product market 3. Discuss the features of various types of product markets

The objective is to: 1. Explain the meaning of distribution 2. Describe the various channels of distribution 3. Discuss the role of intermediaries in the distribution chain 4. Discuss the factors which may influence choice of a distribution channel

The objective is to: 1. Explain the meaning of national income 2. Describe the circular flow of income 3. Explain the methods of measuring national income 4. Explain the problems encountered in measuring national income 5. Discuss the uses of national income statistics 6. Discuss the factors that influence the level of national income

The objective is to: 1. Explain the meaning of demand 2. Explain the factors which influence demand for a product 3. Distinguish between derived demand and joint demand 4. Derive a demand curve from a demand schedule 5. Distinguish between movement along a demand curve and shift in the demand curve 6. Explain the meaning