The accounting fundamentals of multilevel marketing, income security and the poverty challenge in Nigeria
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This study examined the relationship among accounting fundamentals in multilevel marketing, income security and the poverty challenge in Nigeria? The research hypothesis is that there is no positive relationship among these variables. The theoretical framework of the study is Abraham Maslow’s hierarchy of needs theory. In line with this theory therefore, the study found that at the level of poverty challenge all needs are unsatisfied. The physiological needs accordingly become and remain pronounced. It is held in the study that income security in this country is primarily for the satisfaction of the citizen’s physiological needs. Citizens that lack food, shelter and clothing (physiological needs) are accordingly poor. And they require income (income security) to fight poverty. Then devoid of the application of accounting fundamentals, the satisfaction of these needs (invariably, the confronting of the poverty challenge) through the mechanism of multilevel marketing is likely to remain unachievable. Findings of the study thus led to the conclusion that the application of accounting principles (accounting fundamentals) is critical to effectiveness in multilevel marketing. Consequently, the result of the study challenges network marketers in Nigeria to consider the application of accounting fundamentals as one of the critical success factors in their business engagements. Such massive business tendencies therefore would invariably impact positively on income security in the country and furthermore profoundly lead to reductions in the national poverty challenge. This work is highly significant in its interdisciplinary ambitions. Hence, from the standpoint of public administration (financial administration) the study delves into the concerns of accountancy, business studies and economics. Besides, the study’s design and motivations touch deeply on the area of international trading relations, as the major promoters of multilevel marketing-engagements in the country are actually non-Nigerians. The study’s report should accordingly be of some interest to multidisciplinary scholars and some government departments.
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