BUSINESS STUDIES
QUESTIONS
1.
The main objective of a business is to A. create employment opportunities. B. generate revenue for the government. C. make profit. D. minimize cost. E. provide essential services.
2.
Buying goods in large quantities
and selling in units to the final consumers explains trade. A. export B. foreign C.
import D. retail E. wholesale
3.
Which of the following services is concerned with conversion of raw
materials into finished goods? A. Direct
service B. Indirect service C. Primary
production D. Secondary production
E.Tertiary production
4.
4. When an organisation is transparent in dealing with customers, this
explains its quality of A. boldness B. dependability C. equality.
D. openness E rigidity.
5.
5. Impulse buying means purchasing an item A. at a discounted price. B. directly from the manufacturer. C. on credit.
D. that is not budgeted for. E
through the post office.
6.
6. The following are positive effects of production except A bringing about an improved economy. B. causing environmental pollution. C. creating job opportunities. D) encouraging efficient transportation
system. E Improving the standard of
living of the people.
7.
The buyer of a chemical must ensure the following are clearly stated
on the label except A. channel of
distribution of the product. B.
hazardous composition of the chemical. C.
manufacturing and expiry dates. D. name
and address of the producer. E. name of
the chemical.
8.
The person that bears the risk and certainties in a business is the A. accountant. B. employee.
C. etrepreneur. D. manager. E shareholder.
9.
The number of people required to form a partnership business ranges
between two to A fifteen B. fifty.
C. Five D. ten E. twenty
10.
Which of the following business enterprises does not have maximum
number of shareholders? A Partnership
business B. Private limited liability
company C. Public enterprise D. Public limited liability company E Sole proprietorship
11.
The aid to trade that assists businessmen in conveying their goods to
various destinations is A. banking B communication C. insurance. D. transportation. E warehousing
12.
Buying goods in large quantities from the producer is a function of A.
broker B manufacturer C. retailer.
D. trader. E wholesaler.
13.
The target a business owner sets to achieve within a specified period
represents its A. goal B. opportunity. C .plan D. schedule.
E strategy
14.
Which of the following instruments is used to finance the purchase of
buildings? A. Corporate bond B. Corporate stock C. Government bond D. Mortgage bond E. Treasury bills
15.
The meeting point for buyers and sellers of old securities is ______
market A commodity B. local
C. money D. primary E secondary
16.
The compensation paid to the insured by an insurance company in the
event of suffering a loss is A
abandonment B contribution. C.
indemnity D. premium. E subrogation.
17.
Which of the following is an insurable risk? Loss from
A. gambling B.
mal-administration. C motor accident. D.
natural disaster E. war.
18.
Advertising is aimed at ______ of goods A. encouraging the storage B. increasing the prices C. increasing the sales D. reducing the prices E reducing the sales
19.
Displaying organisations products in an open space for sale at reduced
prices is A. bill board B. exhibition. C. neon signs
D. sales signs E trade fair
20.
The fastest means of transporting passengers and goods is by A. air.
B. pipeline C. rail. D. road.
E water
21.
Which of the following means of
transportation uses track? A.
Air B. Pipeline C. Rail
D. Road E. Water
22.
The external environment of an organization consists of A. opportunities and strength. B. opportunities and threats. C. opportunities and weaknesses D. threats and strength. E threats and weaknesses.
23.
Workers who are involved in buying, selling and distribution of goods and services
are engaged in __ occupation A. commercial
B. constructive C.
extractive D. manufacturing E service
24.
When a customer notifies a manufacturer of dissatisfactions
experienced in using their product, it is a A communication. B. complaint. C. redress.
D. responsibility. E right.
25.
The following are rights of a consumer except right to A. choose among products B. fair hearing C. make part payment for goods bought. D. receive value for money spent E seek redress
26.
A formal statement of a business goal and how to achieve them is A. aids to trade B. business plan. C. entrepreneurship. D. policy. E strategy.
27.
In the channel of distribution of goods middlemen refer to A. producers and consumers. B. producers and wholesalers C. retailers and consumers. D. wholesalers and consumers. E. wholesalers and retailers.
28.
The bank that accepts and keeps deposits for its customers is A central
B. commercial C. development D. merchant
E mortgage
29.
A business organisation does not have control over its A. external environment. B. internal environment. C. strength and weaknesses. D. strength.
E. weaknesses.
30.
Which of the following business opportunities can be found at the
local level? A. Generation and supply of electricity. B. Investment in communication industry. C. Investment in oil and gas. D. Manufacturing of cement. E. Setting up primary school.
31.
The regular inspection of accounts of business is A. accounting. B. auditing
C. bookkeeping. D.
marketing. E. taxation.
32.
The moral and professional code that guide bookkeepers are classified
under A. curriculum. B. ethics.
C. laws. D. syllabus. E. topics.
33.
Bookkeeping records are used for ____ assessment. A. administrative B. employee C. formative
D. summative E tax
34.
The ethics that says bookkeepers should follow laid down procedures in
discharging their duties is A. due
process. B. fairness. C. openness.
D. rule of law. E. truthfulness.
35.
The full meaning of the acronym TAP is Transparency, Accountability
and A. Priority. B. Probity
C. Problem. D. Productivity. E. Proximity.
36.
The following are sources of finance to a businessman except A commercial banks B. cooperative societies. C. government grant. D. loans from family and friends. E value added tax
37.
The main use of personal budget is to help one lives within his A. income.
B. investment. C. profit. D. savings. E. taxes.
38.
The rebate granted for prompt payment of account is _____ discount. A. cash
B. functional C. quantity D. seasonal E. trade
39.
The following are examples of petty expenses except A. beverages.
B. fuel. C. motor vehicle. D. pens and pencils. E. postage stamps.
40.
The specified amount given to a petty
Cashier at intervals is A. cash
balance. B. cash float. C. interest
D. profit. E revenue
41.
Petty cash expenditure are posted to of the relevant account in the
ledger. A. analysis column B. credit
side C. debit side D. three column cash book E. two column cash book
42.
Imprest system is a way of keeping
A. double column cash book B. ledger
account C. petty cash book. D. simple
cash book. E. three column cash book.
43.
The burden of the main cashier is reduced with the introduction of A. cashbook. B. imprest system. C. journal
D. ledger E source document.
44.
The following are features of cashbook except A acting as a journal and a ledger B. being used as alternative to a cash account
for recording transaction. C. ensuring that
the debit side is identical to the credit side
D. following the dual entry system.
E making the debit side not to be equal to the credit side
45.
Adamu settled his account of ₦10,000 by cheque and received a discount
of 5%. What is the amount Adamu actually paid? A. ₦10.500 B. ₦9.500
C. ₦8.500 D. ₦7.500 E. ₦6.500
46.
In cashbook, transaction reference numbers are recorded in _____
column A bank B cash C. discount D. folio
E particular
47.
When cash is withdrawn from the bank account for office use, this can
also be referred to as A contra
entry C debit hank E single column
48.
Arial balance is used to A.
check the arithmetical accuracy of the ledger
B check the profit of the business C inflate expenses D. make entries from the balance sheet E make
entries in the ledger
49.
Which of the following items is not found in a trial balance? A. Capital B. Cash balance C. Closing stock D. Drawings
E Funiture
Use the
following information to answer questions 50 to 52.
An extract from
the books of Aminu for the month of January 2015
|
|
₦ |
|
Capital |
100,000 |
|
Purchases |
70.000 |
|
Sales |
95.700 |
|
Loan to
Abuh |
5.000 |
|
Sundry
expenses |
3.500 |
|
Wages |
2.500 |
|
Rent |
8,000 |
|
Cash
balance |
? |
50.
What is the value of Aminu's cash balance in January, 2015? A. N116,700
B. N105.500 C. N104.300 D. N103.000
E. N100,000
51.
Total debit side of Aminu's trial balance amounts to A. N200.700
B. N195,700. CN180.500. D. N150,700
EN120 500
52.
The two items to be posted on the credit of Amina's trial balance are A. Capital and loan to Abuh B. loan to Abuh and cash balance C. purchase and sales. D. sundry expenses and cash balance E wages and rent.
Use the following
information to answer questions 53 and 54.
Trading
account for the year ended 31st Dec. 2017.
|
₦ |
₦ |
|
Opening
stock 23,000 |
Sales 100,000 |
|
Purchases 61,000 |
|
|
Cost of
goods available ? |
|
|
Less
closing stock 10,000 |
|
|
Cost of
goods sold 74,000 |
|
|
|
|
53.
The cost of goods available is
A. 100.000 B. N84.000 C. N76,000
D. N61,000. E N50,000.
54.
What is the gross profit? A.
N36,000 B. N28,000 C. N26.000
D. N23,000 E. N20,000
55.
The main purpose of preparing a trading account is to ascertain A. accumulated fund. B. capital.
C. gross profit. D. net
profit. E. purchases.
56.
A trader bought goods for N12.000. At what price would he sell if he
is to make a profit of 5%? A. N12,600 B. N12.100
C. N12,000 D. N11.900 E. N11,400
57.
Which of the following is not a fixed asset? A. Building B Equipment
C. Furniture and fittings. D.
Motor van. E. Stock
58.
Which of the following is not balance sheet item? A. Equipment B Furniture
C. Land and building D. Motor vehicle
E. Rent and rates
59.
Current assets minus current liabilities equals to A. accumulated fund. B. called up capital. C. capital employed. D. equity capital. E. working capital.
60.
Which of the following does not appear on the debit side of profit and
loss account? A. Carriage outwards B. Insurance
C. Office rent D. Rent received
E. Salaries
61.
Qualities of a clerical staff can be categorized into A. five
B. four C. six D. three.
E. two.
62.
In planning an office, which of the following is not taken into
consideration? A. Access to
infrastructure. B. Location of the building.
C. Space within the building. D. The layout. E. Weather condition of the area.
63.
Recording of assets and liabilities of an organisation is the
responsibility of ____ department. A. accounts B. administration C. purchasing D. sales
E. transport
64.
Which of the following functions is not the duty of a newly recruited
clerical staff? A. Attending to
visitors. B. Collating of documents. C. Indexing of documents. D. Making final decision for the
organisation. E. typing of document.
65.
An office that can accommodate more than ten staff is _____
office A bursar B. counsellor's C. large
D. principals E. small
66.
Which of the following is not a function of an office? A. Giving information to the public. B. Hiding classified information from the
management C. Processing of information
for official use. D. Recording official
information. E. Safeguarding
information.
67.
The use of coins and bank notes to pay for goods and services is A. bank draft. B. bank transfer. C. cash transaction. D. cheque transaction. E. electronic transfer.
68.
An evidence of payment for goods sold is contained in the A. delivery note. B. invoice.
C. price list. D.
quotation. E receipt
69.
Mails that come in and go out of an organisation are called
office A communication. B.
correspondence. C. documents D.
information E management.
70.
Outgoing register is also called ______ book A cash
B. dispatch C. inward D. outward
E. postage
71.
An example of large office is _____ office. A. counsellor's B. director's C. general
D. manager's E. principal's
72.
Which of the following is not a component of Business Studies? A. Bookkeeping B. Commerce
C. Craft practice D
Keyboarding E Office practice
73.
Procurement of raw materials is the responsibility of ____
department A. personnel B. planning C. production D.
purchasing E transport
74.
Coming to work timely as required by the organisation is A. commitment. B. confidentiality. C. punctuality D. reliability E reward.
75.
Physical examination of all categories of items in an organisation
is A. bin card. B. planning
C. requisitioning D. stock record
card. E stock taking
76.
The following are documents handled by a receptionist except A. business card. B. request form. C. sales book. D. telephone directory. E visitors' log book.
77.
Business card is otherwise known as
A complimentary card. B green
card. C. request form. D. telephone message. E
visitors' log book.
78.
Office Practice as a subject prepares an individual to A. become a nurse. B. become a
secretary. C. defraud organisation. D. work as a security officer. E work as a scientist.
79.
Devotion to duty means being committed and ______ to responsibilities given to an individual A. Dedicated B. defaulting
C. inconsistent D. indolent E
nonchalant
80.
Which of the following is not a quality of a receptionist? A Good command of English language. B. Nonchalant attitude to visitors. C. Punctuality to work. D. Self confidence. E Sound knowledge of the organisation.
81.
Devices, machines, cabinets and other resources used in performing
various office activities are office A.
correspondence. B. environment. C.
equipment. D. information. E. management.
82.
To prevent documents from being damaged by water, ____ machine is
used. A. adding B. collating C. franking
D. laminating E. sealing
83.
Office _____ means rules and regulations that workers must follow in
performance of their duties. A. communication
B. correspondence C. information D.
practice E procedure
84.
The first place of contact where visitors are welcomed into an
organisation is A. bursary. B.
counsellor's office. C. general office. D. manager's office. E reception.
85.
A place set aside in an organisation for clerical and administrative
duties is A. barn. B. office C. reception
D. store. E. warehouse.
86.
Which of the following is not an importance of office procedure? A.
Attainment of organisational objective. B. Clearly stated duties and
responsibilities. C. Increase in errors
and fraud. D. Reduction of friction and
conflict. E Uniformity of activities.
87.
Mr. Joe is punctual and regular at work. His reward is A. demotion. B.
interdiction C. promotion. D. sanction.
E termination.
88.
The following are importance of office equipment in an organisation
except A. increasing efficiency. B. increasing productivity C. reducing dexterity D. reducing stress. E
saving time.
89.
A document that contains detailed information of goods and their value
is A. cash register. B. debit note. C. invoice.
D. quotation. E. receipt.
KEYBOARDING
90.
Ctrl + ___is used to justify a text margin. A. B
B.C C.J D.V
E. X
91.
The sign "caps" on
manuscript means change to A. bold. B. capital letters. C. figures.
D. italics. E. small letters.
92.
The mark"!" is used to
A. direct question. B. direct
special attention to what follows. C.
express an emotion. D. indicate
ownership. E quote exactly.
93.
Which of the following is not a number on the numeric keys? A. 0 B. 2
C.8 D.9 E 10
94.
The four fingers of the left hand are placed on a, __d, and f on home keys. A. J B. k
C. s D. w E. x
95.
One of the similarities between typewriter and computer is A. carriage.
B. feed rollers. C. paper guide. D. platen.
E. space bar
96.
A complete sentence ends with
A. colon. B. comma. C. dash. D. full stop.
E quotation.
97.
An amazing story can be punctuated using A. apostrophe. B. dash.
C. exclamation mark. D. full
stop. E. hyphen.
98.
On the keyboard, Ctrl + X is used to
A bring up Mart menu. B. choose the spelling command. C. cut selected item. D. go to the next page E. repeat the last action.
99.
Computer can be taken care of in the following ways except by A.
closing all applications when not in use. B. installing an antivirus programme.
C. oiling the computer with iodine. D. shutting down the computer properly
after use. E updating anti-virus.
100.
The ____ key(s) differentiate computer from typewriter keyboard. A.
alphabetic B. delete C. home D. numeric E. special
101.
Numeric keys on a computer keyboard are from 0 to A. 5. B.7. C. 9. D.
11. E. 13.
102.
The part of a computer system that contains all the alphabets, numbers
and symbol keys is A. keyboard. B. monitor.
C. mouse. D. platen. E. printer.
103.
Which sign or mark is used to interchange words? A. caps
B. l.c C. stet D. trs E. u.c
104.
The ___ finger is the most suitable to strike space bar key. A. index
B. middle C. ring D. small E. thumb
105.
The space bar is located at the
____ row of a computer keyboard.
A. alphanumeric B. bottom C.
home D. second E. top
106.
The principal keyboarding rule is placing fingertips on the A.
bottom row of the keyboard. B. function
keys. C. home keys. D. manuscript copy. E.
upper part of keyboard
107.
For effective speed and accuracy, the typist's eyes should be on A. keyboard.
C. monitor. B. manuscript D. printer E. speaker
108.
The art of producing printed characters in a mailable form
defines A. Bookkeeping. B. Commerce
C. Keyboarding. D. Office
Practice. E. Store Management.
109.
When "Alt+E" is struck on the computer keyboard, it
produces A. edit option in current
programmes. B. file menu options in
current programmes. C. key tips. D. select all texts. E selected field.
110.
The following items can be used for the care of computer except A. antivirus.
B. dust covers. C. power surge
protector. D. uninterruptible power
supply. E mouse.
111.
Which of the following actions will not jeopardize the life span of a
computer? A. Allowing virus into the system. B. Exposing computer to high temperature C.
Handling the computer by a no professional staff. D. Putting the computer in a well ventilated
area. E. Using all kinds of cleaning
agents for the computer.
112.
Which of the computer commands is used to underline a text? Ctrl+ A. C. B. P C. S. D. U. E. V.
113.
When typing, manuscripts should be placed on ____ side of the
keyboard. A. back B. front
C. horizontal D. left hand E. right hand
114.
When F3 is struck on a computer
keyboard, it produces A cut and paste. B. go to the next field. C. move text in graphics. D. start to find from desktop. E stop page or download from loading.
115.
Which of the following keys is both on computer and typewriter? A. Bell warning B. Carriage release lever C. Carriage return D. Ribbon switch E. Shift key
116.
The manuscript sign "L.C" means A. change to capital letters. B. change to small letters. C. create space. D. delete letters. E. run on.
117.
Cursor on the screen is controlled by
A. delete key. B. escape key. C. monitor. D. mouse. E. space bar.
118.
To delete a text that is wrongly typed, the _____ key is used. A.
back space B. caps lock C. shift D.
space bar E. window
119.
Fl to F12 on the keyboard are _____ keys. A. control
B. delete C. enter D. escape
E. function
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