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JSS2: BUSINESS STUDIES – 1ST TERM

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  1. Reception Office | Week 1
    8Topics
    |
    1 Quiz
  2. Office Correspondence | Week 2
    5Topics
    |
    1 Quiz
  3. Office Documents | Week 3
    2Topics
    |
    1 Quiz
  4. Trade | Week 4
    2Topics
  5. Aids to Trade | Week 5
    3Topics
    |
    1 Quiz
  6. Market | Week 6
    4Topics
    |
    1 Quiz
  7. Buying and Selling | Week 7
    5Topics
    |
    1 Quiz
  8. Distribution I | Week 8
    4Topics
    |
    1 Quiz
  9. Distribution II | Week 9
    5Topics
    |
    1 Quiz
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Buying is the process of obtaining something that you want or need, usually in exchange for money.

A seller is someone whose job is to sell something.

When goods are sold or services are rendered by one person to another and cash is paid on the spot, it is known as Cash Sales. In the commodity market (open market, stalls, shops) goods are usually sold mainly on the basis of cash and carry.

Buying and selling with cash is popular in Nigeria.

Credit sales refer to payment for goods, that is deferred until an agreed time. Cash is not paid immediately for the goods purchased.

Customers are given a period of time after the sale is made to pay the seller. Payment can be made weekly, monthly, or yearly till the full amount has been paid.

The seller can choose to part with goods bought on credit immediately, after a percentage, or the full amount has been paid.

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