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Thursday, October 27, 2016

NECO WASCE Jss 2 Business Studies Past questions for revision


                       JSS 2 BUSINESS STUDIES

1. The type of the village market is (a) supermarket (b) shops (c) mini-mart (d) open air market

2. Incoming mails should be ………… (a) Opened, dated, stamped and sorted (b) opened, read and put away (c) opened, read and return to sender (d) opened, signed and put away

3. A store having so many departments or sections under the same roof is known as (a) Departmental store (b) Kingsway (c) super store (d) chain store

4. What is a buyer given for purchasing goods from seller (a) An order (b) an invoice (c) a receipt (d) A letter of enquiry

5. What is the document sent from the buyer to the seller showing the quantity, quality and description, price of goods he wishes to buy is called (a) A letter of enquiry (b) An order (c) An invoice (d) Quotation

6. A document which is used to send messages from one person to another in the same firm, from one department to another or from one department to another or from one head office to the branches or from a principal to his agents is known as (a) a manuscript (b) a memorandum (c) menu (d) document

7. Book keeping could be defined as (a) keeping of book in the store (b) keeping of book in the library (c) systematic recording of business transaction in manner that financial position will be known at any given time (d) recording of business in manner that the financial position will not be known easily

8. Which of the following is not a type of buying (a) by description /grade (b) by sample (c) by auction (d) by selection

9. In book keeping, all transactions involving cash and bank at the bank is called (a) double (b) real (c) contra (d) triple

10. …………. Can be defined as the means through which the goods produced get to the final consumer (a) production (b) distribution (c) communication (d) Advertising

11. The primary medium of exchange in business is (a) cash (b) money (c) trade by barter (d) bank tellers

12.  ………. Is the path through which goods move from the producer to the consumers (a) channel (b) advertisement (c) transportation (d) communication

13. ………..  are traders who usually move from one place to the other or from one street to the other to make their goods available to people (a) sellers (b) traders (c) hawkers (d) retailers

14. The following are types of bank account except (a) savings deposit account (b) current accounts (c) fixed deposit (d) cash account

15. …………… is an instruction in writing made upon a bank to pay a certain sum of money to a named person (a) teller (b) cash (c) cheque (d) bank document

16.The following are the reasons for dishonouring of cheque except (a) sufficient funds (b)  irregular signature (c) a stale cheque (d) insufficient funds

17. The type of account that we use cheque to with draw from is ………… (a) fixed deposit (b) cash account (c) current account (d) savings account

18.Choose the type of cheque that must first be paid into a current account and could not be exchanged for cash across the counter (a) bear (b) order (c) unsigned (d) crossed

19. The two forms of cheque are the …………. Cheques (a) dishonoured and honoured (b) crossed and opened (c) order and bearer (d) payee and not negotiable

20. An insurance policy that covers accident on sea is known as ………… insurance (a) burglary (b) fire (c) marine (d) ship

21…………… can be defined as the protection made against loss or damage to property or life which may arise from death, accident, theft, fire, etc (a) production (b) Insurance (c) fire insurance (d) security

22. The following agents are involved in distribution except (a) Producers (b) wholesaler (c) retailer (d) hawker

23.The following  the documents facilitates easy transaction when buying and selling except (a) letter of equiry (b) price list (c) catalogue (d) internet

24. ……… are activities that facilitates trade (a) aids to trade (b) advertising (c) insurance (d) warehousing

25. ……….  Buys goods in small quantities from the wholesaler and sells in smaller quantities to the consumer (a) hawker (b) producer (c) retailer (d) wholesaler

                                                           SECTION B


(a)List 5 Insurance policies that can be taken by a business man

(b) state five functions of the following Commercial bank

 (c) State three function of the following (i) retailer (ii) wholesaler

2 (a) list three documents used in buying and selling    

    (b) List the types of accounts that we have

     (c) List the type of buying that we have

3. (a) list the types of cheques and explain them

    (b) Enter the following transactions in the double column cashbook of Ajiboka Johnson for july 2000


July 1    Started business with capital                                                1,000

        1    Capital at bank                                                  2,000

        2   Sold goods for cash                                                    500

       7    Received cheque from Dejo                                                     600

       10 Paid salaries by cheque                                                 500

       13 Sold goods and received cheque                                                  400

       18 Paid Okafor AYUBA by cash                                                     200

       20 Paid rent by cheque                                                 200

       25 Withdraw cash from bank                                                      100

       27 Paid cash into bank                                           500

       29 Bought goods into bank                                    200

        30 Received cheque from salisu                                500

       31 cash sales                                                          300