BUSINESS STUDIES EXAM QUESTIONS FOR JSS2 SECOND TERM

JSS2 SECOND TERM BUSINESS STUDIES EXAMINATION QUESTIONS – EDUDELIGHT.COM

SECOND TERM

Examination malpractices may lead to a repeat of the subject or suspensions don’t be involved.

 Subject: BUSINESS STUDIES                Duration: 2HRS      Class: JSS 2

INSTRUCTION: ANSWER ALL QUESTIONS IN THIS SECTION

1.  _______ is a legal proof of evidence of payment. (a) invoice (b) catalogue (c) receipt (d) waybill

2.  Which of the following is not a type of insurance?(a) vehicle accident insurance (b) life assurance

       (c) marine insurance (d) public insurance

3.  Marine insurance involves _________ (a) insurance to cover goods and houses (b) insurance to

       cover goods and business (c) insurance to cover goods and ship (d) insurance to cover ship and

         waters

4.  Insurance can be taken out on all but one of the following (a) vehicle  (b) house (c) business

      (d) income

5.  _______ is also known as a caller. (a) visitor (b) customer (c) receptionist (d) boss

6.  All are personal qualities of an entrepreneur except ______ (a) selfish (b) determined

        [c.] disciplined {d} focus

7.  The following are ways of treating incoming mails except ______ (a) opening the mails

     (b) recording the contents (c) sorting the mails (d) repackaging the mail

8. _________ is the mail received in and sent out of an organization. (a) journal (b) news book

       (c) correspondence (d) dispatch book

9.  ______ is the identification of the need of people in which an entrepreneur can invest money for

         profit making (a) business mindedness (b) business passion (c) business discipline (d) business

       opportunity

10. Buying and selling of goods is called _______ (a) occupation (b) purchases (c) business (d) trading

11.  Which of the following pairs are the major duties of a receptionist? (a) gossiping and receiving

         callers (b) handling the telephone and posting letters (c) receiving callers and handling the

         telephone (d) smiling and conversing with visitors

12.  Moving good form Nigeria to Ghana is called _________ (a) export trade (b) gift of unit (c) import

         trade (d) production

13.  Aids to trade consist of the following except ________(a) insurance (b) advertising (c) shipping (d)

          banking

14.  A financial book where all transactions are recorded is called ______(a) cash book (b) purchases

        book (c) credit book (d) credit book

15.  The trader who buys in large quantities and sells in smaller quantities is called ______________

        (a) wholesaler (b) producer (c) retailer (d) sole proprietor

16.  ______ is a market where long term loans are traded. (a) money market (b) capital market

          (c) commodity market (d) financial market

17.  The following but one are business sectors in which businessmen can invest in. (a) fishing

         (b) construction  (c) hospitality (d) motivation

18.  Which of these documents are handled by a receptionist? (a) a sales book (b) account book

         (c) minute book (d) visitor’s book.

19.  _______ is the final link in channel of distribution. (a) marketet (b) producer (c) consumer

        (d) retailer

20.  A trader who carries his goods from place to place is called _______. (a) a trader (b(a carrier

        (c) an hawker (d) a seller

21.   The department that is responsible for buying of goods and raw materials in large quantities for an

          organization is called _____ (a) accountant department (b) sales department (c) production

          department (d) purchase department

22.  _______ is a place where money and other valuables are kept. (a) warehouse (b) safe (c) bank

          (d) cold room

23.  _________ is a branch of commerce that covers business risk. (a) banking (b) insurance (c) finance

          (d) marketing

24.  Office documents are also known as _____ (a) store documents (b) sales document (c) source

            documents (d) file documents

25.  _______ coordinates all other factors of production. (a) capital (b) land (c) labour (d) entrepreneur

26.  An ambassador of an organization from whom the visitor gets his first impression is called _____

          (a) clerical officer (b) receptionist (c) author (d) clerk

27.  The following except one are aids to trade (a) banking (b) advertising (c) insurance (d)buyer

28.  Production is the ______ (a) planning capital goods (b) creation of goods and services

              (c) purchasing goods for export (d) producing of goods only

29.  All these departments can be found in a large organization, except __________

            a) sales department (b) resellers department (c) purchasing department (d) account department

30.  In a business organization, who is a risk bearer? (a) coordinator (b) trader (c) entrepreneur

        (d) middleman

31.  Which of the following is not a function of an office? (a) receives information (b) employs

        information (c) provides information (d) records information (e) dispatch information

32.  When a mail is delivered by hand ______ has to be signed by the receiver as a proof of delivery

           (a) mail register (b) dispatch book (c) register book (d) outward book

33.  Import and export business is an example of _________ business. (a) home (b) International

            (c) local (d) buying

33.  When other countries are involved in buying and selling, it is called ______ (a) home trade

           (b) foreign trade (c) entrepot (d) import

34. One of the personal qualities of a clerk is ____ (a) impatience (b) obedience  (c) lateness

             (d) unreliable

35.  All  human efforts whether physically or mentally directed towards the production of wealth is

        ______ (a) land (b) labour (c) capital (d) entrepreneur

36.  The pocket – size calculator is useful for performing _____ (a) erasure (b) simple mathematical

           work (c) typing (d) keyboarding

37.  What is the reward of an entrepreneur as a factor of production? (a) interest (b) rent (c) profit

            (d) wages

38.  The accounting record used to record small expenses in an organization is known as (a) cash book

           (b) petty cash book (c)  journal   (d) ledger

39.  Letters coming into an organization from other firms is known as__ (a) incoming mail (b) outgoing

             mail (c) air mail (d) inland mail

40.  Ethics refer to ______ (a) values of the school (b) values and rules of a school (c) values, rules and

         behavior that govern people (d) values and rules governing school exams

SECTION B:INSTRUCTION : ANSWER QUESTION 5 AND ANY OTHER TWO QUESTIONS IN THIS SECTION

1a.  Define insurance.      b. Outline and explain 4 important concepts of insurance.

c. List 5 types of insurance.  

2a. Who is an entrepreneur?        b. List and explain 4 personal qualities of an entrepreneur.

c. Outline 4 importance of insurance.

3a. Define (i) consumer (ii) consumerism (iii) consumer right

3b. Outline 8 universal consumer rights.

4a. Define consumer responsibility.                          

b. Outline 4 consumer responsibilities.

c. Differentiate between needs and wants.

5. Enter the following transactions into the cash book of A.O Jaji for the month of January, 2013.

Jan. 1              Started a retail business with #250,000 cash

Jan. 6              Bought goods worth #40,000 by cash

Jan. 7              Received #10,000 cash in respect of sales

Jan. 11            Paid the following expenses in cash: stamps #200, Diesel #3,700

Jan. 13            Paid cash #20,000 to Hassan Adamu

Jan. 16            Bought a motor cycle by cash: #75,000

Jan. 18            Received a cash loan of #30,000 from Tolu Aliyu

Jan. 24            Bought goods worth #15,000 by cash

Jan. 30            Paid salaries of sales persons: #40,000

BUSINESS STUDIES EXAM QUESTIONS FOR JSS2 SECOND TERM

(1)          Which of these is a right of consumer?

(a)          The right to steal (b) the right to consumer education (c) the right to fight

(d) the right to fraud

(2)                         – must be aware of the quality and safety of goods and services before he buys them

(a)          consumer (b) prodigal   (c) producers (d) None

3.            It is the right of a consumer to make decisions about his needs and        

(a) want               (b) sorrow           (c) sleep               (d) None of the above

4.            CPC stands for                  

(a) consumer protection council                (b) Consumer problem company

(c) consumer paper company     (d)None of the above

5.            While sleeping , one must stop                 

(a) wisely             (b) foolishly        (C) sluggishly (d)none of the above

6.            Which of these should be done before shopping

(a) Set a budget                (b) Close your eyes         (c) plan (d) want

7.            One can pay with             while shopping

(a) Cash                (b) cowries         (c) peanut           (d) all of the above

8.            In book – keeping,           helps in effective, keeping of records

(a) probity           (b0 cosmetic  (c) ability  (d) perfect finance

9.            TAP is not a book – keeping ethnic

(a) True                (b) false

10.          TAP means transparency accountability probity

(a) True                (b) false

(11)                       is a very important thing which helps business owners to achieve success in book – keeping(a) BAP                (b) CAP (C) LAP (d) TAP

(12)        Ledger is the same as balance sheet

(a)          Yes         (b) false

(13)        A place where the buyer and the seller meet to transact business is called

(a) shop               (b) school            (c) market           (d) School

14.                         is buying an items product or service suddenly and without thinking

carefully

(a) Buying urgent             (b) Buying suddenly        (c) Impulse buying           (d) Compulsory buying

15.          After sales service include the following except                

(a) Warranty      (b) maintenance              (c) Installation (d) impulse buying

16.          The acquisition of goods for sales is known as    

(a) buying            (b) selling            (c) purchase       (d) Net sales

17.          Amount of money made by a retail after he / she has sold the goods to the final consumer (a)Gross profit                (b) sales income               (c) Net profit (d) capital

18.          The difference between the cost of goods and the profit of doing business

(a) Margin           (b) Make – up (c) profit  (d) loss

19.                          is the middle man between producer and retailer

(a) Producer       (b) Retailer         (c) Consumer (d) wholesaler

20.          Asset means     

(a) Properties    (b) debtor           (c) creditor

(21)        The money which are used to commence business are called    

(a) cash (b) bonus            (c) capital             (d) gain

(22)        A place where money and other valuables are kept for safety purpose is called

(a) warehouse  (b) school            (c) Bank                (d) church

(23)        The following business are legal except

(a) Carpentry   (b) smuggling (c) teaching              (d) Trading

24           are the account in which transaction with  persons  or other  business    and

organizations are recorded.

(a) Impersonal accounts               (b) personal account  (c) ledger (d) Book – keeping

25.          The accounts that relates to assets , liabilities , incomes and expenses is called

(a) Personal account  (b)impersonal account       (c) financial account (d) Accounting A/C

26.          Vowels in pitman shorthand are represented by              

(a) consonant    (b) Dots and dashes (c) strokes and curve (d) Vowel strokes

27.          the first person to introduce pitman shorthand was       

(a)          Sir James pitman              (b) Sir Isaac pitman          (c) sir Jacob pitman (d) Sir Isaac Newton

28.          A/C means         

(a) Accrual           (b) Access           (c) Income          (d) account

29.          The principal book of account is called  

(a) Teller              (b) journal           (c) paper              (d) Ledger

30.          Exchange of goods for goods is known as

(a)          Barter   (b) sales               (c) trade               (d) better

31.          School staff room is an example of a/ an ……………office  [a] open office [b] closed office [c] large office [d] small office

32.          The last link in the chain of production is               [a] wholesaler [b] consumer [c] retailer

[d] distributor

33.          Which of the following is not a commercial bank [a] central bank [b] wema bank [c] sterling bank [d] union bank

34.          ‘ amt’ means      [a] month [b] animal [c] amount [d] amity

35.          Buying of materials or items is a function of ………….. department [a] sales [b] marketing [c]accounts [d] purchasing

36.          The right side of the cash book book is called …………….[a] debit [b] credit [c] left [d] right

37.          Opening market plus purchase minus closing stock is equal to……………….. [a]turn over [b] cost of goods sold [c] gross profit [d]cost of goods available

38.          The person who receives the amount written on a cheque is known as  [a]

drawer [b] drawee [c] payee [d] payer

39.          A person who receives and direct a visitor in an organization is called      [a] clerk

[b] teacher [c] receptionist [d] engineer

40.          The left hand side of the cash book is used to record…  [a] receipt  [b] payments [c] expenses [d] losses

41.          Buying and selling of goods  is called        [a] business [b] trading [c] occupation [d]

work

42.          The fastest means of transportation is …….. [a]air [b] road [c] water [d] rail

43.          The act of keeping accounts in a regular systemic manner is called            [a] book

keeping [b] capital [c] accountancy [d] accounting

44.          Banking and transportation are examples of ……………. Trade [a] foreign [b] home [c] aid to trade [d] export

45.          The end of the owner may end [a] partnership [b] cooperative [c] joint account [d]

sole trade business

46.          The abbreviation ‘Ltd’ stands for              [a] license [b] limited [c]liquidated [d]less time

47.          Money used to start or commence a business is called   [a] capital [b] drawing [c]

Business money [d] interest

48.          All these are components of business studies except …. [a] commerce [b] shorthand [c] geography [d] economics

49.          The following are extractive occupation except [a]bricklaying [b] fishing [c]lumbering [d] mining

50.          Ayokanmi bought 10 biros at 10 naira each. How much did she pay [a] 100 [b]110 [c] 400 [d] 1000

BUSINESS STUDIES EXAM QUESTIONS FOR JSS2 SECOND TERM

THEORY

(1)          A retailer bought the following items sales:

(a)          200 bags of rice at N9, 500 each

(b)          250 tons of cooking oil at N2, 000 each (c) 10 refrigerators at 60, 000 each

5% discount allowed by seller.

Determine the amount to be paid by the retailer.

i.              what is his gross profit

ii.             What is his net profit

(2)          (a) Explain the meaning of distribution

(b)          list four (4) channels of distribution

(c)           Discuss the function of two (2) channels of distribution

(3)          (a)Define Need and want

(b)          Differentiate between need and want

(c)           Explain impulse buying

(4)(i) What is ethnics?

(ii) Explain the following term

(a)          Transparency

(b)          Accountability

(c)           Probity

Iii Mention four (4) reasons why we need transparency, accountability and probity (TAP)