Causes of fire
State two causes of fire in a work environment
Flammable materials
Electrical faults
What is bookkeeping
This is the practice of recording and tracking on a regular basis the financial transactions of a business
What is cash transactions
It is where the payment you settle imminently
What is an asset
What is capital
Is the amount of investment the business owner have to start certain business
Prevention measures to cub fires out break in a lab
Proper Storage of Chemicals
Maintain Electrical Safety
State the importance of bookkeeping in entrepreneurship
Making accurate budget possible
Bookkeeping reveals the financials
What is credit transaction
It is a payment that is done or settled at a later date
What are liabilities
Are the debts you owe other business and other people
What is data
It is unpressed in formation
Method of putting out fire
Cooling
Smothering
starving
interrupting
Classifying business transaction in entrepreneurship
Cash transaction
Credit transaction
State the advantages of cash transactions
It is simple and faster
Personal information is protected
State three examples of assets
Money in hand
Money in bank account
Money other business owes you
What is information
It is the processed and analyzed data which is meaningful to the user
Safety practices in a working environment
Blade
Slippery floor
Falling stone
What is an income
This is money earned on a regular basis as payment of work done or as earning from an investment or business
State the advantages of credit transactions
It provides a record of transactions
State three examples of liabilities
Creditors
Bank loans
Bank overdrafts
What is a computer
It is an electronic device that processes, stores and release data to the user
How can we practice safety in work environment
Wearing protective gears
Following rules and regulations
Cleaning the tools and workstation after use
What is bookkeeping formula
Assets=liabilities+capital
Disadvantages both of both cash and credit transactions?
Cash-may involve courses of fake money being used
Credit-it may come with charges in interest
Advantages of assets
Income productions
Financial security
Advantages of a computer
It is fast
It is accurate
It is user-friendly