Business Studies JSS 2 First Term Examination

FIRST TERM 

CLASS: JSS 2 (BASIC 8)

Subject : 

Business Studies 

Term :

FIRST TERM 

Week:

WEEK 10

Class :

JSS 2 (BASIC 8)

 

Jss 2 Business Studies First Term Examinations

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) market (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 __________ 
30. a) sales department (b) resellers department (c) purchasing department (d) account department 
31. 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 

1. Define insurance.
   • Outline and explain 4 important concepts of insurance. 
   • List 5 types of insurance.  
2. Who is an entrepreneur?       
   • List and explain 4 personal qualities of an entrepreneur. 
   • Outline 4 importance of insurance. 
3. Define
   • consumer
   • consumerism 
   • consumer right 
4. Outline 8 universal consumer rights. 
5. Define consumer responsibility.    
6. Outline 4 consumer responsibilities. 
7. Differentiate between needs and wants. 
8. 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

 

EVALUATION:

1. say the meaning of banks
2. mention types of banks
3. give examples of commercial banks in Nigeria
4. write out the functions of commercial banks in Nigeria
5. define cheque
6. list the reasons for making banks dishonour cheques
7. What is an overdraft
8. Define market.
9. Mention and explain types of market.
10. List classification of operation in the commodity market.
11. What are the methods of buying and selling?
12. What is the full meaning of ATM
13. What is trade?
14. List three importance of trade.
15. Explain in writing why home trade is important.