✕

BUSINESS STUDIES EXAM QUESTIONS

FOR JSS2 THIRD TERM
 9 minutes read

JSS2 THIRD TERM BUSINESS STUDIES

EXAMINATION QUESTIONS –
EDUDELIGHT.COM

Examination malpractices may lead to a repeat of the subject or suspensions

don’t be involved.

3RD TERM EXAMINATION

CLASS: JSS2

SUBJECT: BUSINESS STUDIES

1. School staff room is an example of a/ an ……………office [a] open office [b]
closed office [c] large office [d] small office

2. The last link in the chain of production is…………….. [a] wholesaler [b]
consumer [c] retailer [d] distributor

3. Which of the following is not a commercial bank [a] central bank [b]
wema bank [c] sterling bank [d] union bank

4. ‘ amt’ means ……………. [a] month [b] animal [c] amount [d] amity

5. Buying of materials or items is a function of …………..department [a] sales

[b] marketing [c]accounts [d] purchasing

6. The right side of the cash book book is called …………….[a] debit [b] credit
[c] left [d] right

7. Opening market plus purchase minus closing stock is equal to………………..

[a]turn over [b] cost of goods sold [c] gross profit [d]cost of goods
available

8. The person who receives the amount written on a cheque is known

as…………………. [a] drawer [b] drawee [c] payee [d] payer

9. A person who receives and direct a visitor in an organization is

called…………….. [a] clerk [b] teacher [c] receptionist [d] engineer

10. The left hand side of the cash book is used to record… [a] receipt [b]
payments [c] expenses [d] losses

11. Buying and selling of goods is called …………… [a] business [b] trading [c]
occupation [d] work

12. The fastest means of transportation is …….. [a]air [b] road [c] water [d] rail

13. The act of keeping accounts in a regular systemic manner is called…………

[a] book keeping [b] capital [c] accountancy [d] accounting

14. Banking and transportation are examples of ……………. Trade [a] foreign [b]
home [c] aid to trade [d] export

15. The end of the owner may end ………… [a] partnership [b] cooperative [c]
joint account [d] sole trade business

16. The abbreviation ‘Ltd’ stands for ……………. [a] license [b] limited
[c]liquidated [d]less time

17. Money used to start or commence a business is called …………….. [a]

capital [b] drawing [c] business money [d] interest
18. All these are components of business studies except …. [a] commerce [b]
shorthand [c] geography [d] economics

19. The following are extractive occupation except [a]bricklaying [b] fishing
[c]lumbering [d] mining

20. Ayokanmi bought 10 biros at 10 naira each. How much did she pay [a]
100 [b]110 [c] 400 [d] 1000

21. An example of machine used in an office is ……………. [a] franking machine

[b] tractor [c] computer [d] plough

22. The following are columns in a petty cash book excerpt. [a] discount [b]
postage stamp [c] stationery [d] telephone

23. Petty cash book is used to ….. [a] record minor expenses [b]record staff
[c] record book [d] records sold on credit

24. All these are documents handled by receptionist except…… [a]visitor’s

book [b]telephone message pad [c] pay slip [d] business card

25. Which of these is an accounting equation [a] asset= capital + liabilities [b]
capital = capital – liabilities [c]capital = assets =liabilities [d] capital = net
assets + liabilities

26. ………. Is the coordinator of all other factors of production [a] land [b]
labour [c] entrepreneur [d] wages

27. Labour is rewarded with …. [a] rent [b] capital [c] wages and salary [d]
interest

28. Assets means [a] liabilities [b] properties [c] debtors [d] creditors

29. Another name for home trade is …. [a] international trade [b] domestic
trade [c] foreign trade [d] cosmetic trade

30. A place where buyers and sellers meet to transact business is called [a]
shop [b] market [c] school [d] dubai

31. One of the following is the reason for taking an insurance cover. (a) to
pay children school fees (b) to avoid industrial interest at work place (c)
to avoid loss of life and property

32. Only one of these can be insured with two insurance companies (a) cars
(b) life (c) furniture (d) building (e) bank

33. Which of these is not a principle of insurance (a) peaceful resolution (b)
utmost good faith (c) insurance interest
34. What is the major importance of Insurance (a) to facilitate bank loan (b)
to provide relief for an unexpected loss (c0 to promote sale of new
products

35. Which of these is not a use of paying in bank (a) to be used to pay money
into a current account (b) receipt of payment made (c) to check the date

36. ____kind of account makes use of a cheque book (a) current (b) savings
9c0 fixed deposit

37. Which is not a function of bank (a) granting loans (b)provision of life
support (c)safe keeping of money

38. One of these is not needed to open a current account. (a) letter of
reference (b) Personal data form (c) Birth certificate

39. Where are cash transactions recorded? (a) cash ledger (b) cash book (c)
cash account

40. Why are discounts given to customers? (a) to encourage them (b) to
bring profit (c0 for money spending

JSS2 THIRD TERM BUSINESS STUDIES EXAMINATION QUESTIONS –

EDUDELIGHT.COM

Theory

1. Define a Commercial bank

ii. Define 8 services provided by commercial bank

iii. Name 7 commercial bank you know

2. What is a bank?

ii. Write short notes on the following

Cheque book

Current Account

iii. Write the full meaning of ATM

3. Define a Ledger

i. Define Discount

SECTION C

ANSWER ALL THE QUESTIONS

1a. Mention five documents handled by a receptionist

b. List five functions of an office.

c. Mention five types of insurance you know.

2a. Define market

b. List and draw the diagram to aid to trade

c. What is production

3a. Highlight five office equipment

b. List 4 types of production with two examples

c. Draw the channel of distribution

4a. What is impulse buying

Read Also

Play Group Second ENGLISH STUDIES

Term Examination EXAM QUESTIONS

Questions FOR JSS3 FIRST

2019/2020 Session TERM

– All Subject

b. State the full meaning of TAP

c. Draw up a petty cash book for MrSalako showing all necessary column.
Show the balance

Aug 1 petty cash balance at hand 20,000,00

2 paid bus fare 250,00

3 paid postage 100,00

4 bought ink 1,500,00

8 paid postage 100,00

10 paid bus fare 2,000,00

25 paid window cleaner 2,000,00

28 office cleaners wage 5,000,00

30 paid bus fare 1,200,00

1. Enter the following transaction using two column cash book of Adeleke

2. Jan 1 cash in the office 13,200

3. Cash in bank 38,750

4. Jan 5 D. Adaobi paid cheque to us 42,000

5. Jan 6 sales in cash 24,600

6. Jan 8 sales in cash 13,850

7. Jan 9 paid R Aisha by cheque 20,700

8. Jan 12 paid wages by cheque 51,000

9. Jan 14 bought pens with cash 530

10. jan 17 purchased goods with cash 19,500

11. jan 18 purhased goods with cash 30,000

12. jan 29 cash sales to date 62,950

13. jan 30 paid acsh to Awele 20,000

jan 31 paid rent in cash 20,100

JSS2 THIRD TERM BUSINESS STUDIES EXAMINATION QUESTIONS –

EDUDELIGHT.COM

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

__________

a) sales department (b) resellers department (c) purchasing department

(d) account department

30. 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

BUSINESS STUDIES EXAM QUESTIONS FOR JSS2 THIRD TERM

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.

c. List 5 types of insurance.

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

entrepreneur.

c. Outline 4 importance of insurance.

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

3b. Outline 8 universal consumer rights.

4a. Define consumer responsibility.

b. Outline 4 consumer responsibilities.

c. Differentiate between needs and wants.

5. 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

BUSINESS STUDIES EXAM QUESTIONS FOR JSS2 THIRD TERM

Get a Virtual Dollar Card
Ad thetonictechnologies