COMMERCE

COMMERCE

•BUSINESS• ANY ACTIVITY CARRIED BY

A PERSON WITH THE INTENTION TO EARN EARN PROFIT IS CALLED AS BUSINESS

COMMERCE

INDUSTRYINDUSTRY IS A CENTRE WHERE PRODUTION IS CARRIED OUT.

COMMERCECOMMERCE

ITS DISTRIBUTION OF GOODS & SERVICES

COMMERCE•GOODS• GOODS ARE THE COMMODITIES

OR ITEMS IN WHICH A BUISNESSMAN DEAL

• EG: PENCILS,BOOKS

COMMERCE• assests• PROPERTIES OF ANY KIND

OWNED BY A PERSON IS called AS ASSERS• EG: LAND,BUILDING

COMMERCE•NARATION• When an entry is recorded it has

to be followed by an explanation.this explanation is called naration

COMMERCE•PROFIT• Its excess of incomes over expenses

COMMERCE•LOSS• ITS EXCESS OF EXPENSES OVER INCOME

COMMERCE• INCOME• AMOUNT RECEIVED BY A

PERSON IN EXCHANGE OF HIS SERVICES RENDERED IS CALLED INCOME

COMMERCE•TRANSACTION• BUSSINESS DEALING HAVING

SOME MONETARY VALUE IS CALLED AS TRANSACTION• TRANSACTION ARE DIVIDED IN

THREE PARTS :1) CASH TRANSACTION2) CREDIT TRANSACTION3) EXCHAGE TANSATION

COMMERCE1.CASH TRANSACTION• IN CASH TANSACTION THE

BENEFIT IS RECEIVED &PAYMENT IS MADE IMMEDIATELY

COMMERCE

2. CREDIT TRANSACTION• IN CREDIT TANSACTION THE

BENEFIT IS RECEIVED BUT THE PAYMENT is not paid immediately.

• Thepayment is delayed.• the payment is posponded

COMMERCE3.EXCHANGE TRANSACTION

• IN EXCHANGE TRANSACTION GOODS ARE EXCHAGED FOR GOODS. • ONE COMODITY IS

EXCHANGED FOR OTHER.