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Friday, 28 September 2018

Total Cost In Production Concept


Total Cost is one among the types of costs in production concept. Other types of cost are Average Total Cost (ATC) and Marginal Cost (MC).

Total Cost (TP): It means the total cost of producing any given rate of output and it include both explicit and implicit costs: (a) Explicit Costs: These are expense which are incurred by the firm in buying goods and service directly, e.g. wages and salaries, payments for raw materials, etc. (b) Implicit Cost: These are the imputed value of the own resources and services. The salary of the owner, estimated rent of the building if it belongs to the entrepreneur (or owner). Total cost of production is divided into two: Fixed Cost and Variable Cost.

Sunday, 26 August 2018

Private Company VS Public Company

A public company has the authority to offer its shares to the public and can transfer its shares to the public
A private company is not allowed to offer its shares to the public or transfer them and must by its article restrict this power
By section 18 of CAMA the minimum number of members of a pubic is 2 while there is no maximum
For private companies the minimum number of members is 2 while the maximum is 50 excluding those who are employees of the company
For a public company director must be elected separately unless a resolution is adopted that two or more directors may be appointed by a single vote by all the members in a general meeting section 261 CAMA
For a private company two or more directors may be appointed by single resolution
For a public company its resolution must be passed at the general meetings of the company section 234 CAMA
For private companies resolutions need not be passed at a general meeting of the company. A written resolution signed by all the members of a private company is as valid and effective as if it was passed in a general meeting of the company.
By section 27 CAMA the minimum authorized share capital of a public company is 500,000 naira
For a private company the minimum authorized share capital is 10,000 naira
Section 29 CAMA provides that the name of a public company in Nigeria must end with PLC [Public Limited Company]
The name of private company must end with LTD [Limited]
Before a person who is 70 years or above is appointed the director of a public company, his age must be disclosed to the members in a general meeting
By section 256 CAMA a person 70 years or above may be appointed the director of a private company and need not comply with the provision of section 252 CAMA
By the provision of the securities and exchange commission Act Cap 406 FLN no securities of any public company can be issued, sold, or transferred without the prior approval of the commission with respect to the price, timing and amount of sales
For private companies, unless there is alien participation, the said provision of the 1990, section and exchange commission act does not apply

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Macro Economics VS Micro Economics

We all remember the famous definition of economics by Lionel Robbins, "Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses". 

The branches of economics are divided into micro and macro. Micro-economics is concerned with the study of all the economic action of individuals, and small groups of individuals. The study of a particular firm, industry, commodity, household, etc.

Macro-economics is concerned with the study of aggregate of these quantities [not with individual incomes, but with national income; not with individual price but with the general price levels; not with individual output but with national output.

Macro-economics depends on micro-economics because it is from micro-economics that we have macro-economics i.e. it is from a part that we got the whole.

Some macro-economics issue may not relate to micro-economics issues e.g. an individual can invest without having to save or save without investing but for the whole economy saving and investment must be equal.

In reality, a hard line cannot be drawn between micro and macro economics analysis. Therefore, a truly general theory of economics must embrace both.

Tuesday, 5 June 2018

Analysis Of Richard II by William Shakespeare

The playwright, William Shakespeare (April 1564 to April 16126) is still considered the best playwright ever lived. Below is the analysis of the play title "Richard II" in such a way that will be of assistance to both students and teachers.

RICHARD II is a play written by William Shakespeare. English playwright of the Elizabethan era.
For Students
For Teachers
Student should be able to relate the message of the play to the period when written.
Teacher should be able to direct the student into the understanding of the background with the aid of instructional materials.
The play shows the struggle for throne between Richard and Bolingbroke. At the end, Richard met his own untimely death. For a detailed summary, visit this website Royal Shakespeare Company.
Student should be patient enough to study the play sequentially and relate the events therein to that of such in Africa.
The sequences of events in the play and how it was influenced by the Elizabethan era should be shown to the student by the teacher.
“The themes are rivalry, pride, betrayal, identity, suffering, gender, family, power, loyalty, appearance, etc” according to Shmoop Website.
Student should endeavour to note the pages in the play which carry each theme.
The teacher ask student to read and explain how true the page read portray the theme mentioned.
Shakespeare made a very careful use of dramatic techniques and symbolisms even though the language use does align with present time English language.
Though, the diction might seem tense but the student should concentrate more on the flow of events in the play than the use of language.
It is the duty of the teacher to guides the students through the difficult symbols in the play. Due to the outdated language employed, the teacher should be in the best position to interpret.
Henry IV,Richard II, Sir Piers Exton, Bagot, Willoughby, Isabella of Valois, Queen, Salisbury, Lady-in-Waiting, Henry Percy, Thomas Mowbray, Isabella of Castile, Duke of Aumerte, Eleanor, Duke of York, Soldier, Gardner, Green, John of Gaunt, John Bussy, Carlisle, William de Ros,
Student should be able to differentiate major characters from the minor characters and explain each character’s role to the development of the plot.
The teacher should show the student why some characters are major while other are minor. If possible, the the could ask student to briefly perform the role of characters in the play.

Total Cost In Production Concept

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    Geography OBJ

    1. "Houses are far apart from one another. They are commonly connected by foot path" this description refers to.

    2. Despersed settlement
      Ribbon settlement
      Urban settlement

    3. An area is said to be overpopulated if

    4. It has more people than its developed physical and human resources can support
      There is not enough food to cater for the population
      There is rural urban migration

    5. Ports that specialize in receiving and redistributing goods to neighboring countries are

    6. River ports
      Inland ports
      Entre ports

    7. The major causes of change in population size are

    8. Birth, marriage and death
      Birth, accident and death
      Birth, death and migration

    9. The greatest problem associated with cattle rearing in west Africa is

    10. The presence of tsetse fly
      Inadequate capital
      Insufficient market

    11. Which of these African countries is noted for lumbering

    12. Uganda

    13. Which of the following is not a favor of land transport to the economic development of any country

    14. Generation of income
      Diffusion of idea and innovation
      Depopulation of urban centres

    15. One of the functions performed by rural settlements for urban settlement is the provisions

    16. Of employment
      Of manufactured goods
      Of agricultural products

    17. Which of the following is the major benefit of international trade

    18. Stabilization of price
      Free movement of people across borders
      Revenue generation

    19. Perishable goods; items of high unit value (gold, diamond) are best transported by

    20. Rail

    21. Which type of rock are quartzite, schist and mable

    22. Igneous

    23. The process of headward erosion will lead to the formation of

    24. Alluvial cones
      Pot holes
      River capture

    25. The nearest planet to the sun is the

    26. Mercury

    27. The longitude that joins longitude 180° at opposite side of the globe to form Great Circle

    28. Longitude 0°
      Longitude 170° W
      Longitude 30° E

    29. The part of the earth's crust that is covered by oceans and sea is called

    30. Ionosphere

    31. Which of the following lines of latitudes divides the earth into two hemispheres

    32. Tropic of cancer
      Antarctic circle
      The equator

    33. In which part of the atmosphere does rain clouds develop

    34. Troposphere

    35. An example of an organically formed sedimentary rock is

    36. Rock salt

    37. Sills, dykes and batholiths are examples of

    38. Extrusive volcanic landform
      Intrusive volcanic landform
      Landforms from earthquake

    39. An advantage of air transport in the world is its

    40. High patronage
      Speedy movement of goods and passengers
      Ability to carry bulky goods

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    English Language OBJ Practice

    The below English language questions are fill in the gap
    1. The exercise presented us with a lot of problems but later it was all_____

    2. Plain

    3. All the cattle on Lamidi's farm _____

    4. Is tick-free
      Are tick-free
      Is ticks-free

    5. _______ been no official reaction to your request yet

    6. There's

    7. Kunle was annoyed for arriving late ______

    8. Also Kemi's rather insolent manner
      Also that Kemi's insolent manner
      And Kemi's rather insolent manner also

    9. Those men helped Dupe and _______

    10. Myself

    11. You can stay here _______ as you are quiet

    12. As long
      So long
      In as much

    13. The Emir and conqueror of the enemy territories _________ next week

    14. Arrives
      Are to arrive

    15. He was ________ by the trickster

    16. Assisted

    17. ______ woman was attacked by a group of bandits

    18. A 90-years old
      A 90-year-old
      A 90 year-old

    19. He was angry with me ________ being treated nonchalantly

    20. For

    21. The teacher with his wife ______ here

    22. Was
      Were to be

    23. ______ he would have been convicted

    24. If he could do this
      If he had done this
      If he did this

    25. What saved her was that she _______ to the side of the boat

    26. Had clinged

    27. When we visited him, he offered us a variety of _______

    28. Hot

    29. The exercise will be easily accomplished by the team if members _______ their ______

    30. Poor/resources together

    31. I have decided to ________ drinking alcohol for health reasons

    32. Abandon
      Give up

    33. I would like to ________ my father to Kaduna

    34. Accompany

    35. One ________ be too careful these days; times are uncertain and walls have ears

    36. Can't
      Need not

    37. I shall never be so tired _______ to write to you

    38. Such that I will be unable
      As not to be able
      That I shan't be able

    39. As you have been here before ________ lead the way

    40. You would better
      It is you who will
      You'd better

    41. My brother got married to a woman with ______

    42. Gorgeous

    43. The thief we caught yesterday was ________ manner

    44. Disguised

    45. The carpenter asked for ten packets of ________ nails

    46. Fifteen centimetres'

    47. The President refused to shake ______ with the visiting Prime Minister

    48. Hand
      His hand

    49. The trader companied that he ________ robbed

    50. Had been
      Has been
      Is being

    Bookkeeping Account Obj

    1. When a shareholder fails to pay the calls requested from him this situation leads to

    2. right issues
      forfeiture of share
      bonus share

    3. Which of the following is not a petty cash book item

    4. purchase of machinery
      purchase of stamp
      purchase of milk

    5. Into how many major types can general purpose computer be classified

    6. three

    7. A sale of goods to Audu was not posted. This is an error of

    8. principle

    9. The total share capital which a company would be allowed to issue is known as

    10. authorized share capital
      working capital
      fixed capital

    11. Which of the following is not a unit of the computer

    12. console

    13. Computer programmes are

    14. micro processor

    15. A statement that measures the performance of a business over a period of time is the

    16. profit and loss account
      balance sheet
      bank statement

    17. Which of the following is the basis of accounting in public service

    18. cash

    19. An expense is said to be revenue in nature if it

    20. reduces the capital of the business
      adds or contributes to the operating income of the business
      adds to or improves the value of fixed assets

    21. Which of the following is not correct

    22. credit purchases are entered on the debit side of the customers personal account
      returns inwards are entered on the credit side of the supplier's personal account
      returns outwards are entered on the debit side of the supplier's account

    23. When discount is allowed the accounting entry is debit discount allowed and credit

    24. expenses account
      debtors account
      suspense account

    25. When partners maintain fixed capital accounts the correct entries for a partner's share of profit

    26. debit profit and loss account credit current account,
      debit profit and loss appropriation account credit capital account
      debit current account credit capital account

    27. The excess of current assets over current liabilities is

    28. working capital
      loan capital
      preference capital

    29. Goodwill is taken into account in partnership when

    30. a partner becomes dominant
      a new partner is admitted
      the business is making huge profit

    31. The excess of current assets over current liabilities is

    32. preference capital
      working capital
      loan capital

    33. A class of preference shares in which dividend rights are carried forward is

    34. cumulative

    35. When both debit and credit entries in respect of a transaction are made in the same ledger account

    36. this is a folio entry
      this is a ledger entry
      this is a centra entry

    37. A business operates on a markup of 25%. If cost of goods sold is #800000. What is the profit

    38. #40000

    39. If #280000 capital turns #485000 at year end and year drawings was #15000; find year profit

    40. #190000


    Civic Education OBJ Practice

    Test how far you have learned your Civic Education Topics...
    1. Nigeria is a

    2. 1999

    3. Franchise means the right to

    4. Contest for political post
      Join association

    5. Citizens who are legally qualified to vote form

    6. The electorates
      The constituency
      The executive council

    7. Who amongst the following personalities has never been INEC chairman

    8. Dr. Abel Guobadia
      Prof. Humphrey Nwosu
      Prof. Attahiru Jega

    9. One of the ways to ensure free and fair election is to

    10. Allow parties to campaign on election day
      Guarantee the security of electoral materials
      Appoint a politician as the chairman of the electoral commission

    11. One of the aims of citizenship education is to produce students with

    12. High sense of patriotism
      Creative skills
      Manipulative skills

    13. Victims of human trafficking are usually compelled to engage in

    14. Lucrative employment
      Visiting tourist sites
      Forced labour

    15. Negative behavior includes the following except

    16. Ostentation living
      Living within our means

    17. Inflation of figures, bad town planning and prohibitive religious beliefs are

    18. Modern day behavior pattern
      Problem of road construction pattern
      Bad behavioral patterns

    19. Civic education is the study of

    20. Activities of government
      Animals in the community
      Primary and secondary schools

    21. Which of the following is not a factor that promotes good values in the society

    22. Dishonesty

    23. Standards, rules and criteria that influence and determine how individual behave in the society is

    24. Attitude

    25. Nigeria is a

    26. Colonial state

    27. Which of the following is not a characteristic of federalism

    28. Two houses of legislature
      Power sharing between central, state and local government
      Power resides at the central government

    29. Who among the following is associated with the concept of the rule of law

    30. Jean Bodin
      Baron Montesquieu

    31. Consumer responsibilities indicates

    32. Franchise
      Making noise in the market
      Things ought to be done by the consumer

    33. Among other things, a consumer's right is

    34. Right to respect the environment
      Right to speak out
      Right to consumer education

    35. Which one is not a pillar of democracy

    36. Democratic institution
      Fraudulent election

    37. Two-party system is one among the features of the following

    38. 1999 Constitution
      1989 Constitution
      1979 Constitution

    39. The origin of democracy is traceable to or associated with

    40. Egyptians
      Roman Empire
      Ancient Greeks

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    Government OBJ Practice

    1. A constitution that has special rules for its amendment is said to

    2. Written

    3. Which of the following statement best describes an unwritten constitution

    4. The legislature is always unicameral
      The body of the rules and laws cannot all be found in a single document
      The source of the constitution is supreme court verdicts

    5. The process by which people vote to elect their representatives is called

    6. Electoral system

    7. Apart from making laws, the legislature has the important function of

    8. Implementing executive decisions
      Appointing the civil servants
      Checking the executive power

    9. Which of the following is a demerit of bicameral legislature

    10. The scope for political participation is limited
      Passing of bills into acts is delayed
      No safeguard for the minority groups

    11. One form of delegated legislation is

    12. Case laws
      Statutory instruments

    13. A system of government in which one level of government exercises an overwhelming authority over o

    14. Confederal

    15. A major weakness of a ine-party system is that

    16. It encourages the emergence of dictators
      It ensures freedom of political choice
      It negates the principle of one man one vote

    17. A multiparty system often leads to the formation of

    18. Coalition government
      Dual government
      Dictatorial government

    19. Under a two-party system, the opposition party is as important as the ruling party

    20. It has equal number of supporters as the ruling party
      It is as strong as the ruling party
      It is the alternative government

    21. Who among the following was dismissed from the Action Group at the Jos Congress of 1962

    22. Anthony Enahoro
      Ladoke Akintola
      Dauda Adegbenro

    23. If the receiving state does not approve a diplomat on account of his past activities, he is

    24. A doyen of diplomatic corps
      An extraordinary ambassador
      A persona-non-grata

    25. Nigeria's idea of Africa as the centrepiece of her foreign policy includes all the following excep

    26. Support for Apartheid policy in South Africa
      Promotion of African Unity
      Settling of disputes in Africa

    27. The organ of Organization of African Unity (OAU) responsible for appointment of Secretary General

    28. Appointment committee
      Liberation committee
      Assembly of the Heads of State and Government

    29. Which of the following is an organ of the United Nations Organization (UNO)

    30. Assembly of Heads of State
      Council of Ministers
      The Security Council

    31. The first agent of political socialization is the

    32. School
      Mass media

    33. Baron Montesquieu was noted for the theory of

    34. Rule of law
      Separation of power
      Delegated legislation

    35. Political sovereignty in the state resides with the

    36. Executive
      National assembly

    37. A political system in which there is only one source of authority in a state is

    38. Confederal

    39. Which of the following best describes an absolute monarch

    40. He wields the supreme power in a state
      He is elected by an electoral college
      He has a fixed tenure of office

    41. Judicial independence means that the courts are independent of the

    42. Civil service and the bar
      Executive and the legislature
      Legislature and the Ministry of Justice

    43. A citizen expresses loyalty to his nation by

    44. Participating in sports
      Supporting political parties
      Singing the national anthem when required

    45. A citizen can participate in the politics of his country by

    46. Acquiring university education
      Attending international meetings
      Contesting for an elective post

    47. The office of the ombudsman is created to act as

    48. Spy for government
      An agency to redress maladministration
      Regulator of government activities

    49. A constitution that has special rules for its amendment is said to be

    50. Written