SS1: COMMERCE - 3RD TERM
Associations and Enterprises | Week 13 Topics
Co-operative Societies I | Week 23 Topics
Co-operative Societies II | Week 33 Topics|2 Quizzes
Public Enterprises | Week 45 Topics|1 Quiz
Limited Liability Companies | Week 54 Topics
Formation of Limited Liability Companies | Week 61 Topic
Limited Liability Companies III | Week 73 Topics|3 Quizzes
Sources of Capital of Limited Liability Companies
Advantages and Disadvantages of Limited Liability Companies
Liquidation or Winding up
- Sources of Capital of Limited Liability Companies
Trade Associations and Other Enterprises | Week 81 Topic
Chamber of Commerce | Week 91 Topic
Other Forms of Trade Association | Week 101 Topic|1 Quiz
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Quasi Government Department
These are government departments that have commercial or semi-commercial functions. They are not corporations because they were not established by any special act of parliament or state law but are part and parcel of a relevant government ministry, and report directly to a minister or commissioner.
Some of these government departments are;
1. Hospitals which are under the ministry of health.
2. The post office which is under the ministry of communications.
3. Schools, which are under the ministry of education such as unity and state schools.
Sources of Capital:
1. Grants from the Government: These are allocations made to the enterprises in the yearly budget by the government. This is made possible by taxes paid by citizens.
2. Credit Facilities/Loans: Short, medium, and long-term loans can be procured from the smooth running of the enterprises.
3. Internally Generated Revenue: This is a situation where an enterprise raises funds for itself through some services that it renders to the government.
Reasons for Government Ownership:
1. Individuals cannot provide the huge capital required to run the establishment.
2. It is an opportunity for the government to provide some essential services to the citizens.
3. It helps to develop the country through equitable distribution of the country’s wealth.
4. It prevents the exploitation of the citizen by wealthy individuals.
5. It creates employment opportunities in the country.
6. It helps to prevent wasteful competition and duplication.
7. It prevents foreign dominance or control.