BUSINESS STUDIES EXAM QUESTIONS FOR JSS3 SECOND TERM
JSS3 SECOND TERM BUSINESS STUDIES EXAM QUESTIONS – EDUDELIGHT.COM
SECOND TERM EXAMINATION
Examination malpractices may lead to a repeat of the subject or suspensions don’t be involved.
Subject: BUSINESS STUDIES Duration: 2HRS Class: JSS 3
SECTION A: INSTRUCTION: ANSWER ALL QUESTIONS IN THIS SECTION
1. A good receptionist must possess the following qualities except ______ (a) loyal to the organisation (b) punctual at work (c) must not be aggressive (d) must stay in office for 24 hours
2. A place where buyers and sellers meet to transact business is called ______ (a) shop (b) market (c) trade (d) school
3. The department which deals with staff matters is ______ (a) personnel department (b) finance department (c) purchasing department (d) sales department
4. Labour is rewarded with ______ (a) rent (b) profit (c) capital (d) wages and salaries
5. A retailer is the one who ______ (a) specializes in industrial goods (b) sells to wholesalers (c) buys in small quantities from the wholesaler and sell to the consumer in units (d) none of the above.
6. An office material in which personal data of staff are kept is called ______ (a) table (b) wood box (c) file cabinet (d) jacket
7. The fastest means of transportation is _______ (a) land (b) air (c) pipeline (d) water.
8. One of the following is not an office equipment. (a) printer (b) perforator (c) recharge card (d) typewriter.
9. A telephone operator must be _______. (a) heady (b) neat (c) kind (d) polite
10. C.O.D means _______ (a) cost of delivery (b) cash on delivery (c) cash of delivery (d) cash on delay
11. Aids to trade consists of ______ (a) banking (b) insurance (c) advertising (d) all of the above
12. One of the following is not an element of Business studies? (a) book keeping (b) physics (c) keyboarding (d) commerce
13. Which of the following is not extractive occupation? (a) farming (b) fishing (c) mining (d) driving.
14. A type of advertising meant for the public to introduce new products is called _____ (a) informative (b) persuasive (c) competitive (d) mass and specific
15. The method in which duties are carried out in respect of performance of business activities of an organization is called _______ (a) office procedure (b) business studies (c) service render (d) office performance
16. One of the functions of the Central Bank of Nigeria is to ______ (a) give loans to traders (b) carry money from Lagos to Abuja (c) print passport photographs (d) mint country’s currencies
17. Which of the following is not used for transporting goods and people on seas? (a) canoe (b) ferry (c) trailer (d) boat
18. The following are examples of advertising media except _____(a) radio (b) television (c) textbook (d) magazine
19. The following are procedures for making payment except _____ (a) payment by bank draft (b) payment by cash (c) payment by receipt (d) payment by cheque
20. The money used in starting business is called _______ (a) cash at hand (b) cash at bank (c) cheque (d) capital
21. Coal mining is an example of _____ (a) direct service (b) tertiary production (c) indirect service (d) extractive industry
22. The profit given to shareholders of a company is ______ (a) dividend (b) bond (c) share (d) divide
23. The role of insurance in commerce is ______(a) invest premium earned in business (b) prevent wasteful venture (c) minimise business risks (d) identify businessmen for loss
24. Furnitures and fittings are examples of _____ assets (a) fixed (b) current (c) circulating (d) floating
25. A device used to aid the effective performance of a worker in an office is _______ (a) office equipment (b) electric fan (c) transported device (d) opener
26. The insurance policy on goods transported on water is known as ________ (a) third party (b) burglary (c) compensation (d)marine
27. Moving goods from Nigeria to Ghana is called _______ (a) export trade (b) gift of unit (c) import trade (d) production (e) retail trade
28. The act of passing information from one place to the other is called _____ (a) ware housing (b) communication (c) advertising (d) transportation
29. A type of business owned and run by one person is known as _____ (a) co-operative (b) sole proprietorship (c) company (d) partnership
30. Division of labour _______ output (a) decreases (b) disallows (c) increases (d) releases
31. _______ is the arrangement of wants according to priority. (a) choice (b) scarcity (c) scale of preference (d) opportunity cost
32. A trade between two or more countries is called _____ (a) international trade (b) local trade (c) domestic trade (d) home trade
33. Another name for home trade is _______ (a) foreign trade (b) international trade (c) cosmetic trade (d) domestic trade
34. The following are documents used in buying and selling except ______ (a) order (b) catalogue (c) invoice (d) visitor’s book
35. The money used to start business is recorded on which side of the cash book? (a) debit side (b) credit side (c) creditor side (d) debtor side
36. A/C means ____ (a) accompany (b) account (c) accountant (d) acquired
37. The apex bank in Nigeria is ______ (a) Zenith bank (b) Federal Apex Bank (c) National Apex Bank (d) Central Bank of Nigeria
38. Exchange of goods for goods is called ______ (a) barter (b) sales (c) trade (d) butter
39. The following can be insured against except _______ (a) gambling (b) goods (c) building (d) life
40. The following businesses are legal except ______ (a) carpentry (b) smuggling (c) teaching (d) trading
41. Petty cash book is used to _______ (a) record minor expenses (b) pay staff salaries (c) record goods sold on credit (d) record bank transactions
42. Asset means _______ (a) properties (b) liabilities (c) debtor (d) creditor
43. The person who owns, runs and establishes business is called _______ (a) entrepreneur (b) diligence (c) hardworking (d) coordinator
44. The physical counting of the stock in the store at a particular time is known as _____ (a) stock record (b) stock taking (c) stock control (d) stock working
45. A telephone call within a town is called ______ (a) emergency (b) trunk (c) local (d) sudden
46. A method of paragraphing where all lines start at the margin is known as _________ (a) hanging paragraph (b) block paragraph (c) indented paragraph (d(open paragraph
47. _______ is the estimate of income and expenditure over a specific period of time. (a) budget (b) bonus (c) divided (d) share
48. _______ are entered on the debit side of profit and loss accounts. (a) expenses (b) income (c) cash (d) losses
49. All the following are natural products except _______ (a) groundnut (b) timber (c) ships (d) cotton
50. The collaboration of people living together in a particular geographical area having a common custom, values, cultural laws and mutual interest is ______ (a) market (b) consumer (c) education (d) society
51. Which of the following advertising media is suitable for demonstrating Omo detergent? (a) newspaper (b) magazine (c) radio (d) television
52. The place where typewriters are kept is called _______ (a) store room (b) typing house (c) typing pool (d) typing room.
53. Olufolabi has N 800 in her bank account but withdraws N 1200. How much overdraft have been granted to her (a) N 1000 (b) N 800 (c) N 700 (d) N 400
54. A clerical staff performs the following functions except _______ (a) direct visitors to executive’s office (b) laundering for the boss (c) file documents (d) running official errands
55. The aid to trade that involves the movement of goods and people to where they are needed is ______ (a) communication (b) transportation (c) banking (d) advertising
56. Which of the following is not a quality of a good receptionist? (a) bluffing (b) attentiveness (c) courtesy (d) tactfulness
57. A trial balance shows the _______ of all entries in ledger accounts (a) asset accounts (b) arithmetical accuracy (c) balance (d) mathematical calculations
58. The document used for withdrawal of cash from current account is ______ (a) ATM (b) cheque (c) counter cheque (d) pay slip
59. The chemicals with household uses and can be purchased in local stores is called _________ (a) toxic chemicals (b) dangerous chemicals (c) suitable chemicals (d) hazardous chemicals
60. Irregularity at work may attract ______ (a) punishment (b) favour (c) promotion (d) transfer.
JSS3 SECOND TERM BUSINESS STUDIES EXAM QUESTIONS – EDUDELIGHT.COM
SECTION B :ANSWER QUESTION 4 AND ANY OTHER TWO QUESTIONS.
1a. Define (i) consumer right (ii) consumer redress
b. List and explain 2 just ways of seeking redress c. Outline 4 benefits of providing redress
2a. Explain the concept of personal finance b. Outline 5 sources of finance for individuals
c. Explain 3 types of budget.
3a. Define modesty b. List 5 attributes of modesty
c. State 2 differences between modesty and extravagance
4. Draw up trading, profit and loss account for the year ended December, 2020, from the trial balance of MICHEAL Nig. Ltd. below:
Dr. Cr.
Opening stock. 1,200
Sales. 28,800
Purchases. 23,800
Rent and rate. 900
Salaries and wages. 3,200
Furniture & fittings. 1,000
General expenses. 500
Note: The closing stock is #4,200
4b. list 4 uses of trading, profit and loss account.
5a. Write short note on the following : i. Balance sheet ii. Profit and loss account
iii. Trial balance iv. Trading account.
b. Draw the comprehensive format for trading, profit and loss account
JSS3 SECOND TERM BUSINESS STUDIES EXAM QUESTIONS – EDUDELIGHT.COM
CLASS; J S S 2 SECOND TERM EXAM
- Which of these is a right of consumer?
- The right to steal (b) the right to consumer education (c) the right to fight
(d) the right to fraud
- – must be aware of the quality and safety of goods and services before he buys them
- consumer (b) prodigal (c) producers (d) None
- 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
- CPC stands for
(a) consumer protection council (b) Consumer problem company
(c) consumer paper company (d)None of the above
- While sleeping , one must stop
(a) wisely (b) foolishly (C) sluggishly (d)none of the above
- Which of these should be done before shopping
(a) Set a budget (b) Close your eyes (c) plan (d) want
- One can pay with while shopping
(a) Cash (b) cowries (c) peanut (d) all of the above
- In book – keeping, helps in effective, keeping of records
(a) probity (b0 cosmetic (c) ability (d) perfect finance
- TAP is not a book – keeping ethnic
(a) True (b) false
- TAP means transparency accountability probity
(a) True (b) false
- is a very important thing which helps business owners to achieve success in book – keeping(a) BAP (b) CAP (C) LAP (d) TAP
- Ledger is the same as balance sheet
- Yes (b) false
- A place where the buyer and the seller meet to transact business is called
(a) shop (b) school (c) market (d) School
- is buying an items product or service suddenly and without thinking
carefully
(a) Buying urgent (b) Buying suddenly (c) Impulse buying (d) Compulsory buying
- After sales service include the following except
(a) Warranty (b) maintenance (c) Installation (d) impulse buying
- The acquisition of goods for sales is known as
(a) buying (b) selling (c) purchase (d) Net sales
- 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
- The difference between the cost of goods and the profit of doing business
(a) Margin (b) Make – up (c) profit (d) loss
- is the middle man between producer and retailer
(a) Producer (b) Retailer (c) Consumer (d) wholesaler
- Asset means
(a) Properties (b) debtor (c) creditor
- The money which are used to commence business are called
(a) cash (b) bonus (c) capital (d) gain
- A place where money and other valuables are kept for safety purpose is called
(a) warehouse (b) school (c) Bank (d) church
- 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
- 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
- Vowels in pitman shorthand are represented by
(a) consonant (b) Dots and dashes (c) strokes and curve (d) Vowel strokes
- the first person to introduce pitman shorthand was
(a) Sir James pitman (b) Sir Isaac pitman (c) sir Jacob pitman (d) Sir Isaac Newton
- A/C means
(a) Accrual (b) Access (c) Income (d) account
- The principal book of account is called
(a) Teller (b) journal (c) paper (d) Ledger
- Exchange of goods for goods is known as
- Barter (b) sales (c) trade (d) better
- School staff room is an example of a/ an ……………office [a] open office [b] closed office [c] large office [d] small office
- The last link in the chain of production is……….. [a] wholesaler [b] consumer [c] retailer
[d] distributor
- Which of the following is not a commercial bank [a] central bank [b] wema bank [c] sterling bank [d] union bank
- ‘ amt’ means…………………. [a] month [b] animal [c] amount [d] amity
- Buying of materials or items is a function of ………….. department [a] sales [b] marketing [c]accounts [d] purchasing
- The right side of the cash book book is called …………….[a] debit [b] credit [c] left [d] right
- 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
- The person who receives the amount written on a cheque is known as…………. [a]
drawer [b] drawee [c] payee [d] payer
- A person who receives and direct a visitor in an organization is called………… [a] clerk
[b] teacher [c] receptionist [d] engineer
- The left hand side of the cash book is used to record… [a] receipt [b] payments [c] expenses [d] losses
- Buying and selling of goods is called…………. [a] business [b] trading [c] occupation [d]
work
- The fastest means of transportation is …….. [a]air [b] road [c] water [d] rail
- The act of keeping accounts in a regular systemic manner is called……. [a] book
keeping [b] capital [c] accountancy [d] accounting
- Banking and transportation are examples of ……………. Trade [a] foreign [b] home [c] aid to trade [d] export
- The end of the owner may end……. [a] partnership [b] cooperative [c] joint account [d]
sole trade business
- The abbreviation ‘Ltd’ stands for………… [a] license [b] limited [c]liquidated [d]less time
- Money used to start or commence a business is called…………. [a] capital [b] drawing [c]
business money [d] interest
- All these are components of business studies except …. [a] commerce [b] shorthand [c] geography [d] economics
- The following are extractive occupation except [a]bricklaying [b] fishing [c]lumbering [d] mining
- Ayokanmi bought 10 biros at 10 naira each. How much did she pay [a] 100 [b]110 [c] 400 [d] 1000
THEORY
- A retailer bought the following items sales :200 bags of rice at N9, 500 each250 tins 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.
- what is his gross profitwhat is his net profit
- (a) Explain the meaning of distribution
- list four (4) channels of distribution
- Discuss the function of two (2) channels of distribution
- (a)Define Need and want
- Differentiate between need and want
- Explain impulse buying
(4)(i) What is ethnics
(ii) explain the following term
- Transparency
- Accountability
- probity
iii Mention four (4) reasons why we need transparency , accountability and probity (TAP)
JSS3 SECOND TERM BUSINESS STUDIES EXAM QUESTIONS – EDUDELIGHT.COM
Pls where are the answers to Jss 3 OBJ