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Commerce Topics - Form Four


TOPIC 1: Taxation


  • Define taxation

  • Explain the purposes of taxation

  • Mention the principle of taxation

  • Identify types of taxation (direct and indirect)

  • Distinguish between the different systems of taxation

  • Define progressive, proportional and regressive taxation

  • Describe the advantages and disadvantages of Direct and indirect Tax

TOPIC 2: Insurance


  • Define Insurance

  • Describe the historical development of Insurance

  • Discuss the need for insurance

  • Define “pooling of Risk”

  • Point out the basic terms applied in insurance

  • Mention the general principles of insurance

  • Explain the meaning of indemnity insurable interest, utmost good faith subrogation, doctrine of proximate cause

  • Identify types of insurance policies

  • Explain the procedures for taking insurance

  • Show how insurance companies make profit

TOPIC 3: Business Units

Business Units

  • Explain the term business units

  • Define the following business units: Sole trading; Partnership; Joint stock company; Public enterprise parastatals; Cooperative organization

  • Point out how each business units is formed and organized

  • Indicate the advantages and disadvantages of business units

  • Mention the importance of business units in commerce

TOPIC 4: Management And Organizations

  1. Management and Organization

    • Explain the meaning and importance of management

    • Discuss the historical evolution of management

    • Explain the following functions of management: Planning; Organization; Staffing; Direction; Control and Coordination

  2. Principles of Organization

    • Explain the Sound Policy

    • Explain the Line of authority

    • Explain Simple, plain and elaborate organization

    • Explain the Unity - chain of command

    • Explain the Responsibility

    • Explain the Equity treatment

    • Explain the Measurement of effectiveness

    • Explain the Span of control

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