Business studies for jss3(past questions)

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  1. A written document issued by a drawer to the bank to pay an amount of money is called …………… (a) Teller (b) Cheque (c) Cash (d) voucher
  2. In which bank account does the owner use cheque to withdraw (a) cash (b) current (c) bank (d) savings
  3. An advantage of office machine is that they are (a) cheap to maintain (b) electrically operated (c) manually operated (d) time saving
  4. The processes through which new products are brought to the notice of the public is known as …………… (a) Commerce (b) transport (c) insurance (d) advertising
  5. The act of making financial plan or income and expenditure is called (a) tax (b) salary
    (c) Budget (d) finance
  6. In communication, the response or reply to a message from the sender to the receiver is (a) Letter (b) telephone (c) feedback (d) communication
  7. A trial balance is ……(a) list of all debit and credit payment (b) list of cash receipt and payment (c) list of income and expenditure (d) list of all balances extracted from the ledger
  8. Petty cash book is also known as …… (a) Cash book (b) imprest account (c) book keeping (d) single column cash book
  9. The officer in-charge of imprest account is known (a) petty cashier (b) imprest officer (c) accountant (d) head of department
  10. Paying back to the petty cashier, the amount already spent will lead to (a) decrease in balance (b) increase in balance (c) restoration in imprest (d) ordinary system of accounting
    11.If goods are sent by sales van to a buyer, the document issued for the buyer to check the goods is termed the ……… (a) way bill (b) catalogue (c) quotation (d) receipt 12. The small amount paid periodically by a policy holder to an insurance company for risk cover is termed the (a) proposal (b) agreement (c) application (d) premium
  11. For proper recording of minor expenses on daily basis a business must keep (a) a ledger (b) a journal (c) a petty cash book (d) a cash book
  12. Bursar’s office and principal’s office in a secondary school are typical examples of ……. Office (a) open (b) general (c) large (d) closed
  13. …… is a book of original entry (a) balance sheet (b) trading account (c) journal (d) bank account
  14. P.A.Y.E means ………. (a) Pay as you earn (b) pay after you earn (c) pay as you expend (d) pay according to your earning
  15. Typewriters use carbon papers to produce more copies, while duplicating machines use to produce more copies (a) films (b) papers (c) stencils (d) notes

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