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BUSINESS STUDIES EXAM

QUESTIONS FOR JSS3
SECOND TERM

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JSS3 SECOND TERM

BUSINESS STUDIES EXAM
QUESTIONS –
EDUDELIGHT.COM
SECOND TERM EXAMINATION

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repeat of the subject or suspensions don’t
be involved.

Subject: BUSINESS STUDIES Duration:

2HRS Class: JSS 3

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SECTION A: INSTRUCTION: ANSWER ALL
QUESTIONS IN THIS SECTION

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1. A good receptionist must possess the
following qualities except ______ (a) loyal
to the organisation (b) punctual at work
(c) must not be aggressive (d) must stay in
office for 24 hours

2. A place where buyers and sellers meet

to transact business is called ______ (a)
shop (b) market (c) trade (d) school

3. The department which deals with staff

matters is ______ (a) personnel
department (b) finance department (c)
purchasing department (d) sales
department

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4. Labour is rewarded with ______ (a) rent

(b) profit (c) capital (d) wages and
salaries

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5. A retailer is the one who ______ (a)

specializes in industrial goods (b) sells to
wholesalers (c) buys in small quantities
from the wholesaler and sell to the
consumer in units (d) none of the above.

6. An office material in which personal

data of staff are kept is called ______ (a)
table (b) wood box (c) file cabinet (d)
jacket

7. The fastest means of transportation is

_______ (a) land (b) air (c) pipeline (d)
water.

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8. One of the following is not an office
equipment. (a) printer (b) perforator (c)
recharge card (d) typewriter.

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9. A telephone operator must be _______.

(a) heady (b) neat (c) kind (d) polite

10. C.O.D means _______ (a) cost of

delivery (b) cash on delivery (c) cash of
delivery (d) cash on delay

11. Aids to trade consists of ______ (a)

banking (b) insurance (c) advertising (d)
all of the above

12. One of the following is not an element

of Business studies? (a) book keeping (b)
physics (c) keyboarding (d) commerce

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13. Which of the following is not

extractive occupation? (a) farming (b)
fishing (c) mining (d) driving.

14. A type of advertising meant for the

public to introduce new products is called
_____ (a) informative (b) persuasive (c)
competitive (d) mass and specific

15. The method in which duties are carried

out in respect of performance of business
activities of an organization is called
_______ (a) office procedure (b) business
studies (c) service render (d) office
performance

16. One of the functions of the Central

Bank of Nigeria is to ______ (a) give loans
to traders (b) carry money from Lagos to
Abuja (c) print passport photographs (d)
mint country’s currencies

17. Which of the following is not used for

transporting goods and people on seas?
(a) canoe (b) ferry (c) trailer (d) boat

18. The following are examples of

advertising media except _____(a) radio
(b) television (c) textbook (d) magazine

19. The following are procedures for

making payment except _____ (a) payment
by bank draft (b) payment by cash (c)
payment by receipt (d) payment by cheque

20. The money used in starting business

is called _______ (a) cash at hand (b) cash
at bank (c) cheque (d) capital

21. Coal mining is an example of _____ (a)

direct service (b) tertiary production (c)
indirect service (d) extractive industry

22. The profit given to shareholders of a

company is ______ (a) dividend (b) bond
(c) share (d) divide

23. The role of insurance in commerce is

______(a) invest premium earned in
business (b) prevent wasteful venture (c)
minimise business risks (d) identify
businessmen for loss

24. Furnitures and fittings are examples

of _____ assets (a) fixed (b) current (c)
circulating (d) floating

25. A device used to aid the effective

performance of a worker in an office is
_______ (a) office equipment (b) electric
fan (c) transported device (d) opener

26. The insurance policy on goods

transported on water is known as
________ (a) third party (b) burglary (c)
compensation (d)marine

27. Moving goods from Nigeria to Ghana is

called _______ (a) export trade (b) gift of
unit (c) import trade (d) production (e)
retail trade

28. The act of passing information from

one place to the other is called _____ (a)
ware housing (b) communication (c)
advertising (d) transportation

29. A type of business owned and run by

one person is known as _____ (a) co-
operative (b) sole proprietorship (c)
company (d) partnership

30. Division of labour _______ output (a)

decreases (b) disallows (c) increases (d)
releases

31. _______ is the arrangement of wants

according to priority. (a) choice (b)
scarcity (c) scale of preference (d)
opportunity cost

32. A trade between two or more

countries is called _____ (a) international
trade (b) local trade (c) domestic trade (d)
home trade

33. Another name for home trade is

_______ (a) foreign trade (b) international
trade (c) cosmetic trade (d) domestic
trade

34. The following are documents used in

buying and selling except ______ (a) order
(b) catalogue (c) invoice (d) visitor’s book

35. The money used to start business is

recorded on which side of the cash book?
(a) debit side (b) credit side (c) creditor
side (d) debtor side

36. A/C means ____ (a) accompany (b)

account (c) accountant (d) acquired

37. The apex bank in Nigeria is ______ (a)

Zenith bank (b) Federal Apex Bank (c)
National Apex Bank (d) Central Bank of
Nigeria

38. Exchange of goods for goods is called

______ (a) barter (b) sales (c) trade (d)
butter
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40. The following businesses are legal

except ______ (a) carpentry (b) smuggling
(c) teaching (d) trading

41. Petty cash book is used to _______ (a)

record minor expenses (b) pay staff
salaries (c) record goods sold on credit (d)
record bank transactions

42. Asset means _______ (a) properties

(b) liabilities (c) debtor (d) creditor

43. The person who owns, runs and

establishes business is called _______ (a)
entrepreneur (b) diligence (c) hardworking
(d) coordinator

44. The physical counting of the stock in

the store at a particular time is known as
_____ (a) stock record (b) stock taking (c)
stock control (d) stock working

45. A telephone call within a town is

called ______ (a) emergency (b) trunk (c)
local (d) sudden

46. A method of paragraphing where all

lines start at the margin is known as
_________ (a) hanging paragraph (b) block
paragraph (c) indented paragraph (d(open
paragraph

47. _______ is the estimate of income and

expenditure over a specific period of
time. (a) budget (b) bonus (c)
divided (d) share

48. _______ are entered on the debit side

of profit and loss accounts. (a) expenses
(b) income (c) cash (d) losses

49. All the following are natural products

except _______ (a) groundnut (b) timber
(c) ships (d) cotton

50. The collaboration of people living

together in a particular geographical area
having a common custom, values, cultural
laws and mutual interest is ______ (a)
market (b) consumer (c) education (d)
society

51. Which of the following advertising

media is suitable for demonstrating Omo
detergent? (a) newspaper (b) magazine (c)
radio (d) television

52. The place where typewriters are kept

is called _______ (a) store room (b) typing
house (c) typing pool (d) typing room.

53. Olufolabi has N 800 in her bank

account but withdraws N 1200. How much
overdraft have been granted to her (a) N
1000 (b) N 800 (c) N 700 (d) N 400

54. A clerical staff performs the following

functions except _______ (a) direct
visitors to executive’s office (b)
laundering for the boss (c) file documents
(d) running official errands

55. The aid to trade that involves the

movement of goods and people to where
they are needed is ______ (a)
communication (b) transportation (c)
banking (d) advertising

56. Which of the following is not a quality

of a good receptionist? (a) bluffing (b)
attentiveness (c) courtesy (d) tactfulness

57. A trial balance shows the _______ of

all entries in ledger accounts (a) asset
accounts (b) arithmetical accuracy (c)
balance (d) mathematical calculations

58. The document used for withdrawal of

cash from current account is ______ (a)
ATM (b) cheque (c) counter cheque (d) pay
slip

59. The chemicals with household uses

and can be purchased in local stores is
called _________ (a) toxic chemicals (b)
dangerous chemicals (c) suitable
chemicals (d) hazardous chemicals

60. Irregularity at work may attract

______ (a) punishment (b) favour (c)
promotion (d) transfer.

JSS3 SECOND TERM BUSINESS STUDIES

EXAM QUESTIONS – EDUDELIGHT.COM

SECTION B :ANSWER QUESTION 4 AND

ANY OTHER TWO QUESTIONS.

1a. Define (i) consumer right (ii) consumer

redress

b. List and explain 2 just ways of seeking

redress c. Outline 4 benefits of providing
redress

2a. Explain the concept of personal

finance b. Outline 5 sources of finance for
individuals

c. Explain 3 types of budget.

3a. Define modesty b. List 5 attributes of

modesty

c. State 2 differences between modesty

and extravagance

4. Draw up trading, profit and loss account

for the year ended December, 2020, from
the trial balance of MICHEAL Nig. Ltd.
below:

Dr. Cr.

Opening stock. 1,200

Sales.
28,800

Purchases. 23,800

Rent and rate. 900

Salaries and wages. 3,200

Furniture & fittings. 1,000

General expenses. 500

Note: The closing stock is #4,200

4b. list 4 uses of trading, profit and loss

account.

5a. Write short note on the following : i.

Balance sheet ii. Profit and loss account

iii. Trial balance iv. Trading account.

b. Draw the comprehensive format for

trading, profit and loss account

JSS3 SECOND TERM BUSINESS STUDIES

EXAM QUESTIONS – EDUDELIGHT.COM

CLASS; J S S 2 SECOND TERM EXAM

Which of these is a right of consumer?

The right to steal (b) the right to
consumer education (c) the right to
fight

(d) the right to fraud

– must be aware of the quality

and safety of goods and services
before he buys them
consumer (b) prodigal (c)
producers (d) None

It is the right of a consumer to make

decisions about his needs and

(a) want (b) sorrow (c) sleep

(d) None of the above

CPC stands for

(a) consumer protection council (b)

Consumer problem company

(c) consumer paper company (d)None

of the above

While sleeping , one must stop

(a) wisely (b) foolishly (C) sluggishly

(d)none of the above

Which of these should be done before

shopping

(a) Set a budget (b) Close your

eyes (c) plan (d) want

One can pay with while

shopping

(a) Cash (b) cowries (c) peanut

(d) all of the above

In book – keeping, helps in

effective, keeping of records

(a) probity (b0 cosmetic (c) ability

(d) perfect finance

TAP is not a book – keeping ethnic

(a) True (b) false

1. TAP means transparency

accountability probity

(a) True (b) false

is a very important thing

which helps business owners to
achieve success in book – keeping(a)
BAP (b) CAP (C) LAP (d)
TAP

Ledger is the same as balance sheet

Yes (b) false

A place where the buyer and the seller

meet to transact business is called
: