(a) List five Means of payment in Home Trade (b) Explain ways computers could be...

Explanation

(a) i) Banknote sand coins

ii) cheques

iii) Inland bills of exchange

iv) bank transfer (Internet and USSD)

v) Point of Sales (POS)

vi) Voucher

vii) Postal order

viii) Credit/ Debit cards

ix) Money order

x) Bank draft

b) I) He could use a computer to communicate with his suppliers and customers through email. this is cheap compared to making phone calls and faster than sending letters.

ii) He could use word processing software to write letters and memos to his customers or document business activities rather than writing them manually.

iii) The use of spreadsheet and accounting software could help him keep his account better than doing it manually.

iv) He could search for cars available for sales as well as potential buyers on the internet. This reduces the cost of travelling to specific destinations to view cars being offered for sale.

v) Information about suppliers debtors and potential customers could be kept in a database which could be retrieved easily compared to searching for such information recorded in books.

vi) Diagnostics of the state of vehicles he purchases could be done using a computer system. this reduces the chance of purchasing vehicles whose value may not be worth the amount of money he may pay.

vii) He could use computers to manage his level of stock.

viii) He could use computer to prepare and issue receipts and invoices.

ix) He could insert his training manual into the system for his operational staff and customers .

x) He could monitor the business from anywhere with the installation of CCTV

xi) He could use computers to provide catalogues.