BUSINESS STUDIES THIRD TERM EXAMINATION JUNIOR SECONDARY SCHOOLS – JSS 1 EXAM QUESTIONS

SECTION A – OBJECTIVES

INSTRUCTION – Choose the correct answers from the alternatives A – D.

1. ______ are the documents that gives first-hand information for book-keeping entries.

(a) Cash book

(b) Source documents

(c) Ledger

(d) Trial balance

 

2. ______ is a book of original entry in which we record daily business transactions.

(a) Journal

(b) Cash account

(c) Bank Account

(d) Suspense Account

 

3. ______ propounded the principles of double entry.

(a) Luca Paciola

(b) fohn Smit

(c) Ben Liwis

(d) Michael Tison

 

4. ______ is a principal book of account where records of all transactions are kept.

(a) Mail book

(b) Credit note

(c) Insurance

(d) Ledger

 

5. ______ is the art of producing electronic or printed characters by manipulating fingers on a machine that is specifically designed for the purpose

(a) keyboarding

(b) Network

(c) Harking

(d) Business Package.

 

6. ______ keys are used to input all alphabetic letters into the central processing unit of a computer.

(a) Special

(b) Alphabetic

(c) Cursor

(d) Mouse

 

7. ______ is the owner of the bank account.

(a) Drawer

(b) Bank

(c) Payee

(d) Principal

 

8. ______ journal is used to record all goods bought on credit.

(a) Purchase

(b) Sales

(c) Cash

(d) Returns

 

9. ______ is a source document that is prepared when goods are to be sold and is usually prepared by the seller to the buyer.

(a) Cheque

(b) Cash register

(c) Invoice

(d) Sales document

 

10. ______ journal is used to record only one type of transactions.

(a) Inward

(b) Special

(c) Outward

(d) Returns

 

11. In the principles of double entry, the receiving of account is ______.

(a) open

(b) closed

(c) credited

(d) debited

 

12. ______ assets are economic resources that are not convertible into cash within a year like land, furniture, etc.

(a) Liability

(b) Fixed

(c) Liquid

(d) Floating

 

13. ______ are the indebtedness of the business organization to the third party.

(a) Liabilities

(b) Assets

(c) Float

(d) Value

 

14. ______ contains permanent records of all business transactions.

(a) Journal

(b) Credit note

(c) Debit note

(d) Ledger

 

15. ______ Ledger contains account of individuals and organization.

(a) Personal

(b) Nominal

(c) Income

(d) Tit

 

16. _________ keys is made up of numbers 0 to 9.

(a) Function (b) Numeric (c) Jam (d) Acro- bat

17. Which of these set are home keys or basic keys?

(a) asdf;lkj

(b) askj

(c) ikas

(d) abcfikl

 

18. ______ account contains transactions relating to the asset that can be seen and touched like building, furniture, et.c.

(a) Real

(b) Ledger

(c) Cash

(d) Bank Journal

 

19. ______ is used to record goods sold on credit.

(a) Sales

(b) Returns

(c) Cash

(d) Ledger

 

20. ______ is a system of book keeping in which transaction are recorded in both debit and credit sides of the account.

(a) Double entry

(b) Ledger

(c) Profit and loss

(d) Income account

 

21. The double entry system for ” sold goods for cash “are debit ______ and credit.

(a) cash, sales

(b) purchases, cash

(c) capital, cash

(d) asset, cash

 

22. ______ is the amount which the business owned outsider.

(a) Liability

(b) Debit

(c) Credit

(d) Profit

 

FILL IN THE GAPS

23. ______ is the full meaning of ” Dr ” in book keeping.

24. ______ is another input device used to control the movement.

25. VDU means ______.

26. ______ houses the central processing unit or the brain of the computer.

27. ______ represents the amount used in starting a business.

28. In the principles of double entry, ” CR ” means ______.

29. ______ is an electronic device that accepts data and produce useful information.

30. ______ is an evidence of payment.

 

SECTION B – THEORY

INSTRUCTION – Answer THREE (3) questions ONLY. 

QUESTION 1

A. What are source documents?

B. Mention four types of source documents you know.

 

QUESTION 2

A. Define Journal.

B. List types of Special journals which you have studied.

 

QUESTION 3

A. Define Assets.

B. Mention types of Assets.

C. Give Three (3) examples of one.

 

QUESTION 4

A. What is keyboarding?

B. Mention four (4) parts of a Computer Keyboard.

C. Explain one out of the four mentioned.

 

QUESTION 5

A. Define ledger.

B. List the classes of Ledger which you know.

C. Explain one out of listed.

 

QUESTION 6

A. Write short note on any four of the following:

i. Cheque

ii. Credit note

iii. Long term Liabilities

iv. Debit note v. Keyboard rows

B. Two similarities between Typewriter and Computer Keyboard