First Term Examination – JSS 2- Business Studies

First Term Examination

Class: JSS 2

Subject: Business Studies

Duration: 2 Hours 

Instruction: Read the questions carefully and choose from the alternatives lettered a – d.

1. When letters are sent to an organization through dispatch rider by hand, it is called _________ (a) delivery by post (b) delivery by mail (c) personal delivery (d) hand delivery mail

2. The first point of call by the visitors to an organization is ______________ (a) reception office (b) personal office (c) sales office (d) principal’s office

3. Who prepares delivery note? (a) customer (b) buyer of goods (c) supplier/ seller (d) receiver of goods

4. A document that serve as an evidence of payment is called ___________ (a) invoice (b) receipt (c) cash book (d) credit note

5. All these are types of visitors, EXCEPT _______________ (a) sick visitors (b) casual visitors (c) visitors on prior appointment (d) emergency visitors

6. All mails leaving the organisation should be recorded in __________ (a) mail outward register (b) ledger (c) cash book (d) mail inward register

7. Which of the following is an important document handled by a receptionist to discharge her duties? (a) petty cash book (b) ledger (c) visitors book (d) delivery note

8. The visitors identity and the company he represents can be found in the __________ (a) school certificate (b) business card (c) requisition form (d) age declaration

9. A book used to record the movement of files within an organisation is called? (a) postage book (b) dispatch book (c) file movement book (d) main inward book

10. Telephone messages received in the absence of an officer should be recorded in the ____________ (a) mail inward book (b) mail outward book (c) telephone message pad (d) goods received note

11. A system whereby an organisation keeps all its files in one centrally designated room is known as ___________ (a) central filing system (b) films classification (c) alphanumerical system (d) alphabetical system

12. Trade can be defined as _________ (a) buying and selling of goods and services (b) chain of production (c) route of trade (d) importation alone

13. A customer buys from? (a) producer (b) retailer (c) transporter (d) stock owner

14. Import simply means ___________ (a) bringing in of goods from other countries (b) middlemen (c) producers (d) hoarders

15. When payment for goods sold is deferred to a later date, we call it ___________. (a) discount sales (b) cash sales (c) credit sales (d) auction sales

16. Traders who carry goods about soliciting for patronage from all and sundry are called __________ (a) retailers (b) wholesalers (c) producers (d) hawkers

17. A place where buyers and sellers meet to exchange goods and services is called __________ (a) bank (b) commerce (c) market (d) post office

18. An officer who interacts with visitors in an organisation is known as __________ (a) manager (b) receptionist (c) meeting clerk (d) supervisor

19. There are _________ types of office documents. (a) two (b) three (c) four (d) six

20. With the advent of technology mails can now be received through __________ (a) e-mails (b) marketing (c) selling (d) advertising

21. Another name for producer is ____________ (a) users (b) wholesalers (c) manufacturer (d) clients

22. _________ buys in unit. (a) retailers (b) producers (c) consumers (d) manufacturer

23. ___________ sells in bulk. (a) retailers (b) wholesalers (c) producers (d) consumers

24. Chemicals are corrosive means __________. (a) chemicals are harmless (b) chemicals are consumable (c) chemicals are harmful (d) chemicals are good

25. Licensed chemical vendors are permitted to _________. (a) buy chemicals (b) sell chemicals (c) distribute chemicals (d) hoard chemicals

26. Turnover is ___________. (a) profit + revenue (b) cost of sales + gross profit (c) cost of purchase + revenue (d) cost of profit + cost of sales

27. The market where long term loans are traded is __________ market. (a) money (b) capital (c) commodity (d) foreign exchange

28. Production of goods ends when __________. (a) goods are produced (b) raw materials are purchased (c) goods reach the final users (d) goods are packaged

29. The market where Primary products are sold is called __________ market. (a) foreign (b) capital  (c) money  (d) commodity

30. Sales – Gross profit is equal to ___________. (a) cost of goods (b) cost of sales (c) revenue (d) cost of profit

31. A document sent by the buyer to seller asking for information about available goods is known as ________. (a) Letter of enquiry (b) Catalogue (c) Order (d) proforma invoice

32. _________ is the act of buying and selling of goods and services. (a) Market (b) Trade (c) Office (d) Correspondence

33. The act of buying and selling of goods and services between two or more countries is _________. (a) home trade (b) foreign trade (c) entrepot trade (d) local trade

34. ________ is a service provides by media organizations to enable businesses make goods known to the consumers. (a) Advertising (b) Wholesaling (c) Tourism (d) Insurance

35. When people leave their house of residence to another place or country on a holiday, it is called _______. (a) Travelling (b) Tourism (c) Communication (d) Banking

36. A document showing the types of goods, the quantity price per unit and the total quantity bought is called _________. (a) Credit note (b) Price current (c) Invoice (d) Receipt

37. ________ is used to show the current price of goods in the market. (a) Price list (b) Quotation (c) Price current (d) Order

38. The aid to trade which helps businessmen to cover risks is _________. (a) Banking (b) Insurance (c) Warehousing (d) Transportation

39. A market where raw materials and finished goods are bought and sold is ________ market. (a) commodity (b) money (c) capital (d) foreign exchange

40. _________ is the aid to trade that ensures goods produced are safely kept until they are needed. (a) Insurance (b) Banking  (c) Communication (d) Warehousing

41. The market for obtaining short term loans is  ________ market. (a) commodity (b) foreign (c) money (d) capital

42. Which of these is not a source of receiving information? (a) drums (b) internet (c) letters (d) telephones

43. The transport system that is mostly affected by weather is ________. (a) rail (b) road (c) water (d) air

44. _________ is the fastest means of transportation. (a) Air (b) Water (c) Road (d) Rail

45. Current account uses ________ on withdrawal of money. (a) pass book (b) pays lip (c) cheque book (d) pay roll

46. How many types of consumer loans do we have? (a) 3 (b) 5 (c) 2 (d) 4

47. Which of the following is Not a GSM service provider in Nigeria? (a) Airtel  (b) Globalcom  (c) Nokia  (d) MTN

48. ________ transport system is affected by traffic jams. (a) Road (b) Rail (c) Air  (d) Water

49. Which of the following is not a function of a bank? (a) Safe keeping of money (b) Granting of loans to customers (c) Safe keeping of valuables and documents (d) Granting of visa

50. One of the following is not an effect of wrong handling of chemical. (a) It leads to death (b) It causes body damage (c) It may cause hunger (d) It can damage crops.

 

Section B: Theory

Instruction: Answer any three questions

1. List and explain four uses of correspondence records

2a. Define trade

2b. Mention three differences between home trade and foreign trade

2c. Draw the diagram of trade and aid to trade

3a. Explain briefly: a) centralizing filing (b) departmental filing

3b. Mention five types of office document

4a. Define a market

4b. List the types of market

4c. Explain any two from 4b above.

5a. Write short note on the following:

i. Order                        

ii. Letter of enquiry

iii. Invoice

iv. Credit note

v. Quotation

5b. List the channel of distribution of goods and explain.

6a. Define the following:

i. Buying                           ii. Selling

6b. List the various methods of buying and explain any two (2)  briefly.