Examination on Business Studies
Class: JSS 1
Term: Third Term
Time: 1 Hour
Total Marks: 70

SECTION A: OBJECTIVES (40 Marks)
Instruction: Answer all questions.

1. ________ is an individual who buys goods and services for personal use. (a) Trader (b) Producer (c) Consumer (d) Seller
2. The place where buyers and sellers meet to exchange goods and services is called a ________. (a) Shop (b) Market (c) Store (d) Warehouse
3. A group of people living together in an organized community is known as a ________. (a) Family (b) Village (c) Society (d) Club
4. Which of the following is a benefit of consumer education? (a) Wasting money (b) Making informed choices (c) Buying fake products (d) Being cheated easily
5. All of these are consequences of lack of consumer education except ________. (a) Buying inferior goods (b) Getting value for money (c) Falling for scams (d) Financial losses
6. Which is NOT a reason for monitoring and controlling chemicals? (a) Protecting public health (b) Preventing environmental damage (c) Encouraging misuse (d) Ensuring safe use
7. Chemicals used to clean surfaces are generally considered ________ for use. (a) Harmful (b) Suitable (c) Dangerous (d) Toxic
8. The main reason for controlling food and drugs is to ________. (a) Increase their cost (b) Ensure their safety and quality (c) Limit their availability (d) Promote illegal sales
9. Recording business transactions systematically is the meaning of ________. (a) Auditing (b) Accounting (c) Bookkeeping (d) Budgeting
10. The correct step in recording a cash sale transaction is to first issue a ________. (a) Debit note (b) Invoice (c) Receipt (d) Cheque
11. Which of these is not an importance of bookkeeping? (a) Decision making (b) Tax calculation (c) Hiding financial status (d) Tracking financial performance
12. A document that provides evidence of a transaction is called a ________ document. (a) Secondary (b) Source (c) Reference (d) Copy
13. Which of the following is a type of source document? (a) Report (b) Invoice (c) Summary (d) Memo
14. An example of a document used to grant a reduction in amount owed is a ________. (a) Debit note (b) Credit note (c) Receipt (d) Cheque
15. ________ is a book of original entry where transactions are first recorded. (a) Ledger (b) Journal (c) Account (d) Balance sheet
16. The most common type of journal is the ________ journal. (a) Sales (b) Purchases (c) General (d) Cash
17. The process of recording every transaction twice, once as a debit and once as a credit, is known as ________. (a) Single entry bookkeeping (b) Double entry bookkeeping (c) Simple entry bookkeeping (d) Manual entry bookkeeping
18. When an asset increases, it is usually ________. (a) Debited (b) Credited (c) Balanced (d) Closed
19. All of these are classifications of accounts except ________. (a) Real (b) Nominal (c) Personal (d) Imaginary
20. A book containing a summary of all transactions from the journal is called a ________. (a) Journal (b) Ledger (c) Cash book (d) Day book
21. Which is NOT a class of ledger? (a) Sales ledger (b) Purchases ledger (c) General ledger (d) Summary ledger
22. The main difference between a journal and a ledger is that a journal records transactions in ________ order, while a ledger groups them by account. (a) Alphabetical (b) Chronological (c) Numerical (d) Random
23. ________ is the act of entering data into a computer using a keyboard. (a) Typing (b) Keyboarding (c) Writing (d) Drafting
24. The importance of keyboarding includes ________. (a) Slower data entry (b) Faster and more accurate data entry (c) Manual record keeping (d) Reduced efficiency
25. The correct step for maintaining good posture during keyboarding is to ensure your back is ________. (a) Slumped (b) Bent (c) Straight (d) Relaxed
26. Which of the following is a part of a computer keyboard? (a) Mouse (b) Monitor (c) Alphanumeric keys (d) Printer
27. All of these are similarities between a typewriter and a computer keyboard except ________. (a) Both have keys (b) Both are input devices (c) Both use electricity (d) Both produce hard copies directly
28. A reception office is the ________ point of contact for visitors to an organization. (a) Last (b) Main (c) Hidden (d) Unimportant
29. A person whose job is to welcome and assist visitors in an office is called a ________. (a) Secretary (b) Manager (c) Receptionist (d) Guard
30. The main reason for having a receptionist is to ________. (a) Gossip with visitors (b) Create a good first impression and manage visitor flow (c) Sell products (d) Clean the office
31. Which of these is not a quality of a good receptionist? (a) Politeness (b) Impatience (c) Good communication skills (d) Friendliness
32. An example of a document handled by a receptionist is a ________. (a) Production plan (b) Visitor’s logbook (c) Sales report (d) Financial statement
33. ________ refers to written communication within or outside an organization. (a) Oral communication (b) Office correspondence (c) Body language (d) Telepathy
34. Which of the following is a type of office correspondence? (a) Internal memo (b) Phone call (c) Meeting (d) Presentation
35. The main use of office correspondence is to ________. (a) Waste paper (b) Facilitate communication and record information (c) Decorate the office (d) Entertain staff
36. All of these are ways mails come into an organization except ________. (a) Post office (b) Courier services (c) Email (d) Telepathy
37. The correct step in handling incoming mail is to first ________. (a) Reply immediately (b) Open and read everything (c) Sort and register (d) Throw away junk mail
38. Which of these is not a type of account in ledgers? (a) Personal account (b) Impersonal account (c) Real account (d) Fictional account
39. When a liability increases, it is normally ________. (a) Debited (b) Credited (c) Adjusted (d) Closed
40. An important aspect of consumer education is understanding your ________ as a buyer. (a) Rights (b) Responsibilities (c) Preferences (d) Budget

SECTION B: THEORY (30 Marks)
Instruction: Answer any THREE questions.

1. (a) Define “consumer education”. (2 marks)
(b) State three reasons why consumer education is important. (3 marks)
(c) List three consequences of a lack of consumer education. (3 marks)
(d) Give two examples of chemicals considered suitable for household use. (2 marks)

2. (a) What is bookkeeping? (2 marks)
(b) Identify three essential qualities of a good bookkeeping system. (3 marks)
(c) Explain the term “source documents” and give two examples. (3 marks)
(d) State two uses of source documents in a business. (2 marks)

3. (a) Differentiate between a “journal” and a “ledger”. (2 marks)
(b) State the meaning of “double entry bookkeeping