Jss 2 Business Studies Examination

JSS 2 BUSINESS STUDIES

1.  The type of the village market is (a) supermarket (b) shops (c) mini-mart (d) open air market
2. . Incoming mails should be ………… (a) Opened, dated, stamped and sorted (b) opened, read and put away (c) opened, read and return to sender (d) opened, signed and put away
3. A store having so many departments or sections under the same roof is known as (a) Departmental store (b) Kingsway (c) super store (d) chain store
4. What is a buyer given for purchasing goods from seller (a) An order (b) an invoice (c) a receipt (d) A letter of enquiry
5. What is the document sent from the buyer to the seller showing the quantity, quality and description, price of goods he wishes to buy is called (a) A letter of enquiry (b) An order (c) An invoice (d) Quotation
6. A document which is used to send messages from one person to another in the same firm, from one department to another or from one department to another or from one head office to the branches or from a principal to his agents is known as (a) a manuscript (b) a memorandum (c) menu (d) document
7. Book keeping could be defined as (a) keeping of book in the store (b) keeping of book in the library (c) systematic recording of business transaction in manner that financial position will be known at any given time (d) recording of business in manner that the financial position will not be known easily
8. Which of the following is not a type of buying (a) by description /grade (b) by sample (c) by auction (d) by selection
9. In book keeping, all transactions involving cash and bank at the bank is called (a) double (b) real (c) contra (d) triple
10. …………. Can be defined as the means through which the goods produced get to the final consumer (a) production (b) distribution (c) communication (d) Advertising
11. The primary medium of exchange in business is (a) cash (b) money (c) trade by barter (d) bank tellers
12. ………. Is the path through which goods move from the producer to the consumers (a) channel (b) advertisement (c) transportation (d) communication
13. ………..  are traders who usually move from one place to the other or from one street to the other to make their goods available to people (a) sellers (b) traders (c) hawkers (d) retailers
14. The following are types of bank account except (a) savings deposit account (b) current accounts (c) fixed deposit (d) cash account
15. …………… is an instruction in writing made upon a bank to pay a certain sum of money to a named person (a) teller (b) cash (c) cheque (d) bank document
16. The following are the reasons for dishonouring of cheque except (a) sufficient funds (b)  irregular signature (c) a stale cheque (d) insufficient funds
17. The type of account that we use cheque to with draw from is ………… (a) fixed deposit (b) cash account (c) current account (d) savings account 1
18. Choose the type of cheque that must first be paid into a current account and could not be exchanged for cash across the counter (a) bear (b) order (c) unsigned (d) crossed
19. The two forms of cheque are the …………. Cheques (a) dishonoured and honoured (b) crossed and opened (c) order and bearer (d) payee and not negotiable
20. An insurance policy that covers accident on sea is known as ………… insurance (a) burglary (b) fire (c) marine (d) ship
21. …………… can be defined as the protection made against loss or damage to property or life which may arise from death, accident, theft, fire, etc (a) production (b) Insurance (c) fire insurance (d) security
22. The following agents are involved in distribution except (a) Producers (b) wholesaler (c) retailer (d) hawker
23. The following  the documents facilitates easy transaction when buying and selling except (a) letter of equiry (b) price list (c) catalogue (d) internet
24. . ……… are activities that facilitates trade (a) aids to trade (b) advertising (c) insurance (d) warehousing
25. ……….  Buys goods in small quantities from the wholesaler and sells in smaller quantities to the consumer (a) hawker (b) producer (c) retailer (d) wholesaler

SECTION B

1. List 5 Insurance policies that can be taken by a business man
2. state five functions of the following Commercial bank
3.  State three function of the following (i) retailer (ii) wholesaler
4. list three documents used in buying and selling
5. List the types of accounts that we have
6.  List the type of buying that we have
7. list the types of cheques and explain them
8. Enter the following transactions in the double column cashbook of Ajiboka Johnson for july 2000                             July 1    Started business with capital                                                Naira1,000         1    Capital at bank              2,000         2   Sold goods for cash                                                    500        7    Received cheque from Dejo                                                     600        10 Paid salaries by cheque                                                 500        13 Sold goods and received cheque                                                  400        18 Paid Okafor AYUBA by cash                                                     200        20 Paid rent by cheque                                                 200        25 Withdraw cash from bank                                                      100        27 Paid cash into bank                                           500        29 Bought goods into bank                                    200         30 Received cheque from salisu                                500        31 cash sales                                                          300