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COMMERCE SS2 SECOND TERM

last update on: 07/30/2025

IN THIS TERM, LEARNERS SHOULD LOOK OUT FOR THE FOLLOWING IN DETAIL:

WK-1. BANKING

Meaning, origin and types. Commercial bank, functions, loan and overdraft. Types of bank account, saving and fixed deposit.

WK-2. TYPES OF BANK ACCOUNT.

 Current accounts- meaning, procedures for opening a current, factors to be considered before granting a loan by the bank manager. Cheque; definition, parties to a cheque, problems involved in the use of a cheque. Types of cheque; order, open, bearer and crossed cheque.

WK-3. CHEQUE

 Definition, parties to a cheque, problems involved in the use of a cheque. Types of cheque; order, open, bearer and crossed cheque. Crossed cheque- general and special crossing. Reasons for dishonouring cheques.

WK-4. PAYMENTS

 Automated teller machine card, western union, money gram. Computer and the bank, e- banking.

WK-5. CENTRAL BANKING 

Meaning, origin and functions of central bank. How central bank controls commercial banks, clearing houses. Roles of central bank in economic development of West Africa. Distinguish between central bank and commercial bank.

WK-6. SPECIALIZED BANKS

 Developed banks, merchant bank, meaning and functions. Mortgage bank, meaning and functions. Building societies; meaning and functions. Universal banks; meaning and functions.

WK-7. WAREHOUSING 

Meaning and types. Importance and functions. List the advantages and disadvantages of warehousing.

WK-8. CAPITAL 

Meaning, economist, accountants, and layman concept. Types of capital; authorized/registered/ nominal, issued, called-up, capital owned etc. Working capital.

WK-9. CREDIT 

Meaning, basis for credit sales, advantages and disadvantages. Types; mortgage, loan, overdraft, credit deferred payment, finance houses/leasing etc. Hire purchase; meaning, features, characteristics, advantages and disadvantages to the seller and the buyer.

WK-10. CREDIT CONTD.

 Differences between hire purchase and deferred payment, and their similarities. Functions of credit to the wholesaler and retailer. Credit instrument; bill of exchange, promissory note, letter of credit, debentures, vouchers etc.