{"id":331,"date":"2023-09-25T11:05:11","date_gmt":"2023-09-25T11:05:11","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=331"},"modified":"2023-09-25T11:05:50","modified_gmt":"2023-09-25T11:05:50","slug":"week-10-jss-1-second-term-business-studies-lesson-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-10-jss-1-second-term-business-studies-lesson-notes\/","title":{"rendered":"Week 10 &#8211; Jss 1 Second Term Business Studies Lesson Notes"},"content":{"rendered":"<p>WEEK TEN<br \/>\n<strong>TOPIC: INTRODUCTION TO BOOK \u2013 KEEPING<br \/>\n<\/strong>Book \u2013 keeping is the systematic recording of daily transactions (cash and credit) in the appropriate book. It is the art of keeping proper accounting records of business transactions.<\/p>\n<p>\u00a0<strong>IMPORTANCE OF BOOK \u2013 KEEPING<br \/>\n<\/strong><\/p>\n<ul>\n<li>Book \u2013 keeping serves as a proof in time of doubt or confusion\n<\/li>\n<li>It helps to determine the profit of the business\n<\/li>\n<li>The record provides a means by which the finances of a business are controlled\n<\/li>\n<li>It helps to detect error\n<\/li>\n<li>It shows income and expenditure of the business\n<\/li>\n<li>Book \u2013 keeping provides a permanent records of all financial transactions\n<\/li>\n<\/ul>\n<p>A book \u2013keeper is a person charged with the responsibility of taking and keeping records of transactions in an organization.<br \/>\nEssential Qualities of Book \u2013 Keeping<\/p>\n<ul>\n<li>He\/she must be able to write clearly\n<\/li>\n<li>He\/she must be careful and accurate in calculation\n<\/li>\n<li>He\/she must be computer literate\n<\/li>\n<li>He\/she must be intelligent and not a forgetful person\n<\/li>\n<\/ul>\n<p>\u00a0<strong>COMMON BOOK \u2013 KEEPING PRACTICE<br \/>\n<\/strong><\/p>\n<ul>\n<li>The use of Naira and Kobo on the top of the account\n<\/li>\n<li>The use of two zero in the kobo column\n<\/li>\n<li>The double ruling which indicate the completeness and accuracy of the account\n<\/li>\n<li>The use of &#8216;F&#8217; to represent folio\n<\/li>\n<li>The use of DR for debit and CR for credit\n<\/li>\n<\/ul>\n<div>\n<table>\n<tbody>\n<tr>\n<td>Date <\/td>\n<td>Particular <\/td>\n<td>Folio<\/td>\n<td>Amount<\/td>\n<\/tr>\n<tr>\n<td>5 March <\/td>\n<td>Sales <\/td>\n<td>G 100<\/td>\n<td>50,000:00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u00a0<br \/>\n\u00a0<strong>BOOK \u2013 KEEPING ETHICS \/ PRACTICES<br \/>\n<\/strong>Book \u2013 keeping ethnics refers to the principles used in book \u2013 keeping. The principle is developed using double \u2013 entry system of Book \u2013 keeping.<br \/>\nThe double entry system says &#8220;To every debit entry there must be a corresponding credit entry and vice versa&#8221;.<br \/>\nThe ethnics are:<\/p>\n<ul>\n<li>Credit the giver account with the amount paid\n<\/li>\n<li>Debit the receiver account with the amount received\n<\/li>\n<li>Balance off the account at the end of the period.\n<\/li>\n<\/ul>\n<p>\u00a0<br \/>\n\u00a0<strong>Assignment<br \/>\n<\/strong><\/p>\n<ul>\n<li>What is book \u2013 keeping?\n<\/li>\n<li>State three essential qualities of book \u2013 keeping\n<\/li>\n<li>Workbook\n<\/li>\n<\/ul>\n<p>\t\t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WEEK TEN TOPIC: INTRODUCTION TO BOOK \u2013 KEEPING Book \u2013 keeping is the systematic recording&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,62],"tags":[],"class_list":["post-331","post","type-post","status-publish","format-standard","hentry","category-posts","category-second-term-jss1-business-studies"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=331"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/331\/revisions"}],"predecessor-version":[{"id":332,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/331\/revisions\/332"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}