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Thursday, October 27, 2016

Junior WASCE jss 1 NECO Business studies jss 1 past Questions for revision


1. ------------ can be referred to the situation in which a person says only what is true (a) honesty (b) truthfulness (c) facts (d) forthrightness

2. One of the following is NOT an aid to trade (a) Banking (b) Insurance (c) Advertising (d) Stock

3. The place where goods are stored until they are needed is known as ­­­------------ (a) Space bar (b) room (c) bank-house (d) warehouse

4. One of the following is a factor of production (a) land (b) agriculture (c) industry (d) rent

5. Coal mining is an example of ………  (a) Constructive industry (b) extractive industry (c) direct service (d) tertiary production

6. The business financed, formed and controlled by one person is termed ……. (a) Corporation (b) partnership (c) sole proprietorship (d) cooperative society

7. The factor that coordinates or makes use of the other factors of production is the …… (a) Land (b) capital (c) labour (d) entrepreneur

8. Staff matters in any organization are treated by …….. (a) Personnel department (b) production department (c) sales department (d) finance department

9. The role of insurance in commerce is essentially to ……… (a) Prevent damage (b)minimize business risk (c) prevent wasteful ventures (d) none of the above

10. Which of the following is not an extractive occupation (a) Dentistry (b) farming (c) fishing (d) Mining?

11. ………. Is the reward of land (a) Entrepreneur (b) Money (c) Capital (d) Rent?

12. The written agreement between partners is (a) partners document (b) partners salary (c) partnership deed (d) partnership business

13. Land is to rent as capital is to ……… (a) Rent age (b) interest (c) wages (d) states in Nigeria

14. Which of the following is not a characteristic of a sole trader?

    (a) He provides capital alone (b) He makes decisions on his own (c) He shares his profits with his partner (d) He takes all the profit or loss

15. Coal mining is an example of ………….. (a) Constructive industry (b) extractive industry (c) direct service (d) tertiary production

16. Which of the following functions is not performed by a retailer (a) Giving credit facility (b) breaking bulk (c) storing various articles for sales (d) buying in small quantities

17. Who of the following renders direct services (a) teacher (b) miner (c) oil driller (d) cook

18. Who is a sole trader (a) a person who trades in soles (b) a person who sells leather soles (c) a person who runs business on his own (d) a group of person who works together

19. Which of the following is NOT a type of partners (a) working partner (b) active partners (c) sleeping or dormant partner (d) nominal partner

20. What is commerce (a) producing raw materials (b) selling raw materials (c) buying and selling of goods and services (d) giving of arms to the poor

21. Which of the following is not a type of production (a) primary production (b) secondary production (c) tertiary production (d) modern production

22. Workers engaged in mining, quarrying and farming are called (a) primary producers (b) tertiary producers (c) secondary producers (d) commercial producers

23. Which of the following is an example of direct service (a) mining (b) petroleum refining (c) medical service (d) farming

24. The type of business own and financed by two or more people is known (a) partners (b) partnership (c) sole proprietorship (d) two man business

25.  ………… is the recording of business transaction in a systematic manner to provide information for use by interested parties (a) accounting (b) book keeping (c) key boarding (d) library