BUSINESS STUDIES JSS 3 SECOND TERM EXAMINATION
SECOND TERM EXAM
JSS 3
BUSINESS STUDIES
(1) The place where the buyer and seller meet to transact business is called ___________
(a) Shop (b) Market (c) Trade (d) school
(2) The department which deals with staff matter s is called ____________
(a) personnel department (b) finance department (c) purchasing department
(d) Purchasing department
(3) Labour is rewarded with _____________
(a) Rent (b) profit (c) Capital (d) Wages / salaries
(4) A retailer is the one who ___________
(a) specializes in industrial goods [b] sells to wholesalers [c] buys in small quantities [d] none of the above
[5] The fastest means of transportation is —————- [a] air [b] land [c]
[6] One of the following is not an office equipments [a] printer [b]perforator [c] recharge card [d] type writer
[7] A telephone operator must be………….[a] heady [b] neat [c] kind [d]polite
[8] One of the following is not used for transporting goods and people on sea [a] canoe [b] ferry [c] trailer [d] ship
[9] Buying and selling of goods is known as [a]business [b] trading [c] occupation [d]wage
[10] The right hand side of the cash book is called [A]debit [b] credit [c] left [d] right
[11] How many consonants are there in pitman shorthand [a] 20 [b] 24 [c] 25 [d] 30
[12] How many vowels sounds are there in pitman shorthand [a] 13 [b] 24 [c] 6 [d] 12
[13] The following are the principles of insurance except [a] utmost good [b]under insurance [c]loss from change of taste [d] subrogation
[14]…………….is the apex bank in Nigeria [a] commercial bank [b] Central bank of Nigeria [c] microfinance bank [d] merchant bank
[15] The eyes of typist must be on ….[a] floor [b] wall [c] keyboard [d]documents
[16] The part of the typewriter that moves from right to left when typing ids known as ….[a] paper guide [b] carriage [c]plate [d] space bar
[17] Balance extracted from the ledger accounts are used to prepare [a]trial balance [b]trading accounts [c] cash account [d] balance sheet
[18] To produce extra copies of documents while typing ,one needs to use…….[a] papers [b] carbon papers [c]stencils [d] foolscaps sheets
[19] Buying of items or materials is a function of ……department [a] sales [b] marketing [c]account [d] purchasing
[20] Note taking in an office is the duty of [a] messenger [b] secretary [c] accountant [d] entrepreneur
[21] Tope had #2,000 in the bank but withdrew #2,500,how much overdraft was granted to her [a]#2000 [b] #500 [c] #1500 [d] no over draft granted
[22] ”ÁMT” means [a] account [b] amount [c] accommodation [d] acquire
[23] All these are the equipments handled by the receptionist except [a] visitor book [b] telephone message pad [c] pay slip [d]business card
Use the below information to answer questions 24 and 25
opening stock #1000
purchases #5000
sales #7000
closing stock #1300
[24] Calculate the cost of good sold [a] #2800 [b] #4700 [c] #6000 [d]#1300
[25] Calculate the gross profit [a] #4700 [b] #6500 [c] #7300 [d]#2300
[26]School staff room is an example of [a] open office [b] closed office [ c] small office [d] large office
[27] Rent, wages, electricity and transportation are regarded as ….[a] income [b] loss [c] payment [d]expenditures
[28] All activities of human efforts directed btoward satisfying human wants is known as ……[a] production [b] distribution [c] commerce [d] trade
[29] The last link in the chain of distribution is……………… [a] consumer [b] retailer [c] producer [d] wholesaler
[30] A man bought 20 books at #10 each, calculate the amount payable for all the books
[a] N250 [b] N300 [c] 200 [d] N500
- 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
[1]a. What is production
b].List four types of production
c].Write two types of trade
[2]a. List five functions performed in an office
b].Mention five types of cooperative society
- List and explain the paper sizes that you know
[3]a. List three sources of capital for individual
b].What is personal finance
c].State any five services performed by NITEL, as an agency of communication
[4]a. Define commerce
b]. List four aids to trade
c].State any five advertising media
