WorksheetsSECOND TERM, 2020/2021 CAT: BUSINESS STUDIES (GRADE 8)
Total questions: 30
Worksheet time: 30mins
A place where variety of products are made available for the purpose of buying and selling is called-------------
bank
capital market
stock exchange
market
Which of the following facilitates the supply of goods to the market?
advertising
banking
communication
transportation
The person that commits his financial resources to enjoy a product is called
consumer
marketer
trader
producer
Unlawful breaking into ones property with the intention of committing crime can be compensated under ----------------- insurance.
burglary
fire
health
vehicle
At the death of a policy holder, the next of kin will be paid --------------------
agency fee
brokerage
commission
sum assured
When Union bank allows Mr. Agada to withdraw more than his credit balance, he is said to be given a/an
invoice
loan
overdraft
statement of account
Which of the following instruments is traded in the money market?
bonds
debentures
shares
gilt-edged
On 1st January 2020, M. Umar started business with #20,000 cash. What will be the double entry for this transaction?
Cr capital, Dr cash account
Dr capital, Cr U. Umar account
Dr cash, Cr capital account
Dr cash, Cr M. Umar account
In book keeping a double ruling across an amount column indicates that the work is -------------------
complete and accurate
not acceptable
subject to editing
to be continued
The amount given to customers for prompt payments of their account is called ------------------
bonus
commission
discount allowed
discount received
The document which contains a written order to a bank to pay a stated sum of money to a named person is called
bill of exchange
cheque
credit
receipt
Which of the following is not a component of a ledger?
amount
date
folio
net profit
The records that are kept in the office for keeping information that concerns mails is called office --------------
correspondence
document
procedure
chart
An officer who goes to office on time is said to be --------------
obedient
regular
punctual
sincere
When a buyer gives purchases order based on the statement made by the seller, he is buying by
auction
description
inspection
sample
An amount of money paid by an insured to the insurer is known as
compensation
endowment
indemnity
premium
A bank account in which money is kept for a specified period of time before withdrawals are made is called ---------------------- account
current
fixed deposit
joint
savings
The book which records receipts and payments of money in cash or cheque is known as
bank statement
cash book
balance sheet
bank account
A petty cashier is given a specified sum known as
amount
cash float
cash balance
fund
Customers who maintain current accounts usually withdraw money by the use of _________
cheques
passbook leaves
a draft
envelopes
(a) are public limited liability companies that are in the business of providing financial services to consumers and businesses.
A bank account in which money is kept for a specified period of time before withdrawals are made is called (a) account
The document which contains a written order to a bank to pay a stated sum of money to a named person is called (a)
When Union bank allows Mr. Agada to withdraw more than his credit balance, he is said to be given a/an (a)
(a) is the maximum amount of money that can be withdrawn from an ATM within 24 hours
(a) is the current total number of commercial banks in Nigeria.
(a) refers to any activity which changes the form, place and time of anything that is used to satisfy human want.
A provision a business makes against future loses is (a)
(a) is the policy used by traders who makes frequent shipment of cargo.
The oldest type of insurance is (a)
