Third Term Examination Business Studies JSS 2 (Basic 8) – Exam Questions

BUSINESS STUDIES

THIRD TERM EXAMINATION

JUNIOR SECONDARY SCHOOLS – JSS 2

SECTION A

Choose the correct answers from the alternatives A – D. 

1. Insurer in insurance business is the ___________.

(a) insurance company

(b) agent of the insured

(c) broker of the insured

(d) risk giver

2. ___________ type of insurance deals with stealing.

(a) Burglary

(b) Comprehensive

(c) Assurance

(d) Third party

3. The act of putting the typing sheet into the typewriter ready for typing is called paper.

(a) Insertion

(b) Inclusion

(c) Fixing

(d) Placing

4. A petty cash book is another name for ___________.

(a) bank transaction

(b) minor expenses

(c) staff salary

(d) credit sales

5. Which office machines is used to hold two or more papers together?

(a) Perforator

(b) Office pin

(c) Stapler

(d) Nail

6. A perforator machine performs the function of ___________.

(a) filing documents serially

(b) keeping documents intact

(c) making a hole in paper

(d) holding documents with a tag

7. The money given to a petty cashier to start with is known as ___________.

(a) capital

(b) float

(c) interest

(d) commission

8. The contract of insurance covers all the following except ___________.

(a) bad debt

(b) fire

(c) gambling

(d) human life

9. The system of filing whereby the first figure is used is called ___________.

(a) geographical

(b) numerical

(c) alphabetical

(d) chronological

10. A place where money and other valuable things are kept is called ___________.

(a) bank

(b) cornet

(c) store

(d) warehouse

11. Credit notes are usually printed in ___________.

(a) red

(b) green

(c) yellow

(d) blue

12. A cheque book is associated with ___________.

(a) foreign bank

(b) current account

(c) savings account

(d) bank statement

13. All the followings are parts of a memo except ___________.

(a) salutation

(b) from

(c) to

(d) subject

14. Which of the following is not a duty of a receptionist?

(a) handling telephone

(b) receiving visitors

(c) attending to callers

(d) typing letters

15. The mail received in and sent out of an organization is known as ___________.

(a) correspondence

(b) dispatch book

(c) journal

(d) news book

16. Ade made a budget of N5200 and spent N4800. What is the balance left with Ade?

(a) ₦200

(b) ₦400

(c) ₦600

(d) ₦800

17. The correction sign # means ___________.

(a) insert space

(b) capital letter

(c) delete

(d) ne paragraph

18. A man buys goods costing N6000 and he is given a cash discount of 10%. How much does he pay for the goods?

(a) ₦6,600

(b) ₦6,000

(c) ₦5,400

(d) ₦5,010

19. Who keeps the petty cash book?

(a) Petty cashier

(b) Petty recorder

(c) Accountant

(d) Secretary

20. How many columns make each side of three column cash book?

(a) 4

(b) 5

(c) 6

(d) 7

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SECTION B

Answer any four (4) questions. 

QUESTION 1

A. What are office equipments?

B. List ten office equipment you can find in a standard office.

C. State three importance of office equipments.

QUESTION 2

A. What is office procedure?

B. State four importance of office procedures.

C. What are bills? Give two examples.

QUESTION 3

A. What is impulse buying?

B. Give three effects of impulse buying.

C. Write short notes on After sales service.

QUESTION 4

A. State any five commercial banks in your locality.

B. List five services rendered by commercials bank in Nigeria.

QUESTION 5

Enter the following in a single column cash book of David for the month of May, 2014.

May 1 commence business with cash ₦950.00

May 4 cash sales ₦620.00

May 10 bought goods for cash ₦600.00

May 15 bought office furniture for cash ₦210.00

May 20 paid insurance premium ₦150.00

May 21 bought goods for cash ₦200.00

May 22 received loan from Joshua ₦500.00

May 25 cash sales ₦750.00

May 26 Ladi paid rent ₦400.00

May 27 cash purchases ₦450.00

May 28 paid traveling expenses in cash ₦250.00

May 29 bought stationeries for cash ₦100.00

 May 29 bought office equipment for cash ₦500.00

May 30 repaid part of Joshua’s loan ₦300.00

May 30 cash sales to date ₦800.00

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