3RD TERM EXAMINATION

SUBJECT: BUSINESS STUDIES CLASS: JSS 2 TIME: 2 HOURS

Section A: Objective
Instruction: Answer all questions.
1. In operating the home keys, the small finger of the right hand is placed on (a) ; (b) j (c) k (d) g.
2. One of the following is called Banker’s Bank (a) union bank (b) commercial bank (c) central bank (d)
mortgage bank.
3. The guide key can also be called ____ keys (a) manual (b) office (c) home (d) setting.
4. The following are the methods of classifying mail except ___ method (a) sorting (b) subject (c)
geographical (d) numerical.
5. Production is incomplete until goods get to the ____ (a) seller (b) consumer (c) bank (d) market.
6. The machine which is used to type business letters, memos, circular etc. is _____ (a) adding machine (b)
calculator (c) typewriter (d) handset.
7. ____ is a book used to record all mail that a company receives (a) mail inwards book (b) mail outward
book (c) diary (d) visitor’s book.
8. The last long key at the bottom of all the keys is known as _____ (a) numeric key (b) function key (c)
alphabetical key (d) space bar key.
9. A book that records minor expenses is ____ (a) single column cash book (b) petty cash book (c) trading
account (d) a balance sheet.
10. The typewriter that uses electricity is known as _____ (a) manual typewriter (b) electric typewriter (c)
standard typewriter (d) portable typewriter.
11. The type of a paragraph that is typed five spaces to the right or to the left hand margin is _____ (a)
indented paragraph (b) semi-hanging paragraph (c) block paragraph (d) hanging paragraph.
12. All correspondence or mail that are to be delivered by hand are recorded in the ____ (a) postage book (b)
dispatch book (c) inward book (d) jotter.
13. An insurance term which states that both the insured and the insurer should declare relevant facts
concerning the insurance policy is (a) utmost good faith (b) insurable interest (c) indemnity (d)
subrogation.
14. The person that operates the petty cash book is known as _____ (a) the cashier (b) the accountant (c) the
petty cashier (d) the manager.
15. An account that is operated with the use of Cheque is _____ (a) current account (b) saving account (c)
fixed deposit account (d) trading account.
16. When risk of loss of property or life is transferred from one person to another, it is called ____ (a)
transportation (b) ware housing (c) insurance (d) banking.
17. Parcel, letter, telegrams and internal memo are examples of _____ (a) mail (b) newspaper (c) newsletter
(d) magazine.
18. ____ key can be used to extend typing beyond the set margin (a) margin release key (b) paper release
key (c) margin set (d) tabular set key.
19. The deduction granted to customers on the amount of goods sold to him/her is referred to as ____ (a)
discount received (b) discount allowed (c) trade discount (d) cash reduction.
20. To produce extra copies of documents while typing, one needs to use ____ (a) papers (b) carbon papers
(c) stenals (d) foolseap papers.
21. The last link in the chain of distribution is _____ (a) wholesaler (b) consumer (c) retailer (d) distributor.
22. The left hand side of the cash book is used to record _____ (a) receipt (b) payments (c) expenses (d)
losses.
23. The right hands of the cash book is called (a) debit (b) credit (c) right (d) left.
24. _____ is the apex bank in Nigeria. (a) commercial bank (b) merchant bank (c) micro finance bank (d)
central bank.
25. A document sent to a buyer to show the description of goods bought and the total amount due is known
as _____ (a) enquiry (b) invoice (c) quotation (d) price list.
26. ___ is used when a new idea is introduced (a)page setup (b) A new paragraph (c) A new character (d)
ATM.
27. The money which is use to commence business is called ____ (a) current (b) cash at hand (c) capital (d)
production.
28. Another name for mail is _____ (a) document (b) letter (c) passport (d) call.
29. ____ is the mirror of an organization (a) reception (b) receptionist (c) bursar (d) security.
30. A fixed amount given to the petty cashier for minor expenses is called ___ (a) stipends (b) cash (c) cash
float (d) loan.
31. Which column of cash book is used for recording description of transaction (a) polio (b) particulars (c)
date (d) amount.
32. A situation whereby a transaction affects both the bank and cash account is known as __ (a) journal entry
(b) impress entry (c) contra entry (d) errors.
33. Petty cash book contains the following columns’ except _____ (a) discount (b) postage stamp (c)
entertainment (d) telephone.
34. The part of typewriter depressed to create space between words is called ____ (a) tabulator (b) space bar
(c) margin (d) paper bail.
35. Type of the cash book used to record cash and Cheque transaction is ____ (a) one column cash book (b)
petty cash book (c) double column cash book (d) journal.
36. ______ is the reduction in the price of goods in order to encourage customers to buy large quantities. (a)
discount (b) promotion (c) liabilities (d) loan.
37. A group of options dictating the way a document is formatted print is known as ____(a) Memo (b)
Blocked paragraph (c) Page setup (d)Pages.
38. A source document on the basis of which the payment side of the petty cash book is written up is known
as a _____ (a) petty cash voucher (b) refinement (c) reimbursement (d) cash.
39. _____ is the arrangement of wants according to priorities (a) choice (b) scarcity (c) scale of preference
(d) opportunity cost.
40. Where should your eyes be when keyboarding (a) looking down at your fingers (b) looking at the copy
(what you need to type). (c) at your friend room (d) here and there.
41. Which answer best describes this image (a) good technique wrist are straight and in a good position (b)
bad technique wrists are slightly above the keyboard / computer (d) none of the above.
42. When keyboarding, your arms should be at what angle (a) 180 degree (b) 45 degree (c) 90 degree (d) 60
degree.
43. What type of posture should you have when keyboarding (a) slouching lightly forward (b) sitting up
straight (c) leaning backward and stand (d) lying on the floor.
44. The left-hand of cash book is (a) debit (b) credit (c) folio (d) discount.
45. The bedrock of all business success is ____ (a) dishonesty (b) honesty (c) truancy (d) inconsistency.
46. A document used by a current account holder to withdraw money from the bank is called _____ (a)
cheque (b) pay-in-slip (c) teller (d) credit note.
47. The movable part of the typewriter which travels from right to the left when a key is struck is known as
____ (a) rollers (b) carriage (c) paper (d) column.
48. Parts of a business letter include these except (a) heading (b) body (c) vertical (d) closing.
49. The type of a paragraph that is typed five spaces to the right of the left hand margin is _____ (a)
intended paragraph (b) semi-hanging paragraph (c) block paragraph (d) hanging paragraph.
50. When goods are sold by specimen the goods are said to be sold by ____ (a) sample (b) auction (c) by
grade (d) inspection.
51. Mail usually refer to _____ (a) information (b) bills (c) letters (d) market.
52. The type of paragraph in which the first line is typed two spaces to the left of the margin is __ (a)
intended paragraph (b) margin (c) block paragraph (d) hanging paragraph.
53. _____ helps to determine how a print page will appear (a) paragraph (b) page set up (c) memorandum
(d) software.
54. One of these is types of paragraph. (a) sentence (b) memorandum (c) blocked paragraph (d) passages.
55. There are ____ types of paragraphing (a) 3 (b) 6 (c) 10 (d) 12.
56. Correction mark are repeated in the margin in the order in which they appear in the ____ (a) symbol (b)
line (c) sentence (d) mark.
57. What is the primary purpose of a memorandum?(a) To communicate informally with friends (b) To
provide detailed reports to external stakeholders(c)To communicate information make requests,or
provide instructions within an organization (d) To post on social media.
58. Signs are placed at the left _____ of the typed manuscript for correction (a) bottom (b) center (c) top (d)
margin.
59. A ____ paragraph is used when a new idea is introduced (a) new (b) old (c) formal (d) informal.
60. Paragraphing is an important aspect of _____ communication (a) correct (b) written (c) unwritten (d)
lateral.
THEORY
Answer any four questions in this section.
1a. Explain five (5) ways of recording cash received / payment. 5mks
1b. What is petty cash book. 2mks
1c. Mention 3 items of petty cash book. 3mks

2a. Define Cash Book. 2mks

2b. Name the three (3) types of cash book. 3mks
2c. State three importance of cash book. 3mks
2d. What is refinement. 2mks

3a. Define line space regulator. 3mks

3b. Mention two (2) uses of tabular key. 2mks
3c. Identify five (5) correction signs with their meaning. 5mks

4. Enter the following in the three column cash book of Jekinje.

Aug. 1 Cash balance N700
Aug. 1 Bank balance N600
Aug.4 cash sales N1,000
Aug.5 paid wages in cash N350
Aug. 6 withdrew cash from bank for office uses N270
Aug.7 paid Lola by cheque N500
Less 5% discount
Aug.10 Received cheque from bola N570 being payment of an account of N600. 10mks

5. Explain the following

a. Retirement b. Imprest system c. Petty cash d. Reimbursement e. Capital 10mks