Commerce Topics - Form Four

 

TOPIC 1: Taxation

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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

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TOPIC 2: Insurance

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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

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TOPIC 3: Business Units

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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

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TOPIC 4: Management And Organizations

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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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