Business Studies (J S S 2)

The transaction where money is not paid immediately for exchange of good and services is called

• Cash transaction

• Credit transaction

• Sales

• debit transaction

Sold goods N500 cash. What is the particulars for the transaction?

• Sold goods

• Sales

• Sells

• Sell

A trader was given a 2% discount for paying immediately for good worth N40,000 purchased .The discount received is

• N39200

• N800

• N8000

• N40,000

Where is discount allowed located in the cash book?

• Debit side

• Credit side

• Debtor side

• Creditor side

Discount received is related to

• Sales

• purchases

• Discount allowed

• Discount received

The following are recorded on the credit side of the double column cashbook except

• discounts

• rent paid

• wages paid

• cash purchases

The money given to a petty cashier to take care of minor expenses in an organization is called.

• capital

• cash float

• business fund

• loan

A trader was given a 2% discount for paying immediately for goods worth N40,000.How much will he pay?

• N39,400

• N23,200

• N38,200

• N39,200

Mr Apeh bought good worth N20,000, and is entitled to 10% discount. What is the discount?

• N2000

• N1200

• N12000

• N20

The ____department is responsible for purchasing raw materials and goods for the organisation

• Production

• purchases

• Accounts

• Sales