BUSINESS STUDIES JSS 2 SECOND TERM EXAMINATION

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 __________
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

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

1. List 5 types of insurance.

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

1. Outline 4 importance of insurance.

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

3b. Outline 8 universal consumer rights.

 

 

 

4a. Define consumer responsibility.

1. Outline 4 consumer responsibilities.
2. Differentiate between needs and wants.
3. 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