2017 JSCE Business Studies Objective Past Questions Paper 1 (Commerce & Bookkeeping)

The person who contributes capital but does not take active part in the day to day running of the business is called _________ partner

The market for borrowing and lending of short term funds for investment is the ______ market

The following are factors to be considered before choosing a particular channel of distribution except

A consumer that is seeking redress can channel his complaint through

The following are government agencies responsible for the protection of consumers except

The person who completes the process of production is called

The process of searching and purchasing items in exchange for money is called __________

The ability of a buyer to make spot payment for commodities bought explains his shopping tips of _________

A written document that describes in detail how a new business is going to achieve its goals is called business

The following are rights of consumers except the right to _______

One of the set backs of insurance in business is that it _____________

At the death of a policy holder, the next of kin will be paid ___________.

The following are aids to trade except

The farmer who grows food and cash crops is engaged in ________

The easiest and quickest means of interacting with people within and outside the country is through

The form of advertising that is displayed along major roads is ________

Inducing consumers to shift interest from one product to another is described as _______  advertising

Which of the following is a disadvantage of road transportation?

Which of the following products is conveyed through pipeline?

When Union bank allows Mr. Agada to withdraw more than his credit balance, he is said to be given a/an

The following are functions of a wholesaler except that he

Re-exporting goods already brought into a country as import is known as __________ trade

The form of business that involves the coming together of a minimum of two and maximum of twenty people is known as ___________

The form of business that is set up by government to provide essential services to its citizens is the __________

The reward for an entrepreneur as a factor of production is ___________

The following are dishonest activities in business except

Which of the following is concerned with primary production?

The purpose of production is to ______________

A person identified with unsatisfied need in a market is called a/an

Which of the following instruments is traded in the money market?

The recording of cash and credit transactions so that information relating to the business can be easily obtained is known as

Which of the following can be used to test the arithmetic accuracy of the postings in the ledger?

On 1st Jan. 2013, M. Umar started business with ₦20,000 cash. What will be the double entry for this transaction?

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What is the debit balance of the trial balance?

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What is the credit balance of the trial balance?

The statement of a financial position as at the end of a year is called   _____

Current assets less current liabilities is equal to __________

Cost of goods sold is ________

The document sent by a seller to a customer when there is an overcharge is called

In book-keeping a double ruling across an amount column indicates that the work is

The amount given to customers for prompt payments of their account is called

Which of the following is used for the correction of error?

Book keeper’s first source of information as regarding a transaction comes from the following documents except

Which of the following equations is not correct?

The document which contains a written order to a bank to pay a stated sum of money to a named person is called

Which of the following is not an example of liabilities __________

Which of the following is not debited to trial balance?

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What is the amount of Furniture and Fittings?

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The amount of capital is __________

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The total amount of fixed assets is _________

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What is the total amount of current liabilities?

What is the full meaning of the abbreviation TAP?

Which of the following is not a component of a ledger?

The net profit of a business is calculated as

Petty cashier was given ₦100 at the beginning of the month, he spent ₦80. How much will the petty cashier be reimbursed at the end of the month?

Which of the following items does not appear in the trading account?

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The cost of goods available is _________

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What is the gross profit?

The document issued when a cash transaction is made as an evidence of payment is called

The following are importance of book-keeping except to