WorksheetsYear 7 Exam Revision Quiz
Total questions: 46
Worksheet time: 24mins
Name
Class
Date
1.
What is net profit?
a)
gross profit - expenses
b)
gross profit + loss
c)
gross profit / cost
d)
gross profit X revenue
2.
1. Which of the following is owned by one person?
a)
sole propreitorship
b)
partnership
c)
public limited liability company
d)
private limited liability company
3.
2. How many partners can form a partnership?
a)
2 -10
b)
2 -20
c)
5 - 50
d)
7 - 50
4.
3. Who is a partner that invests money and partakes in the running of a partnership?
a)
active partner
b)
passive partner
c)
estoppel partner
d)
quasi partner
5.
4. What is another name for a sleeping partner?
a)
doorman partner
b)
dormant partner
c)
deed partner
d)
drowsy partner
6.
5. Which of the following focuses on providing loans to members?
a)
consumers society
b)
loan society
c)
credit and thrift society
d)
credit and profit society
7.
6. Which of the following can have an infinite number of owners or investors?
a)
sole proprietorship
b)
partnership
c)
private limited liability company
d)
public limited liability company
8.
7. Which of the following is not aimed at making a profit?
a)
public limited company
b)
public corporation
c)
private corporation
d)
public unlimited liability company
9.
8. What does PLC stand for?
a)
private limited company
b)
private liability company
c)
public limited company
d)
public limited commission
10.
9. What is the equivalent of Inc?
a)
PTC
b)
PLC
c)
Ltd
d)
PLD
11.
11, Who is a person authorized to trade chemicals in Nigeria?
a)
licensed vendor
b)
licensed seller
c)
licensed chemist
d)
licensed trader
12.
12. What year was NAFDAC created?
a)
1993
b)
1994
c)
1995
d)
1996
13.
13. Which of the following is not the right way of handling chemicals?
a)
chemicals should be strapped down in transit
b)
workers should wear protective garments and equipment
c)
chemical containers should be properly labelled
d)
containers for chemicals should be changed when delivered
14.
14. Who is the director-general of NAFDAC?
a)
Mojisola Adeyeye
b)
Dora Akunyili
c)
Ibrahim Babaginda
d)
Folorunsho Alakija
15.
15. What is this chemical hazard sign?
a)
poison
b)
generic caution
c)
restricted
d)
death
16.
16. What is this chemical hazard sign?
a)
high voltage
b)
fire
c)
explosion
d)
flammable
17.
17. What is this chemical hazard sign?
a)
High voltage
b)
flammable
c)
generic caution
d)
toxic
18.
18. Who uses goods that have been purchased?
a)
buyer
b)
consumer
c)
purchaser
d)
producer
19.
20. Which of the following is not a consequence of a lack of consumer education?
a)
poor purchase
b)
poor taste in fashion
c)
price exploitation
d)
waste of resources
20.
21. Which of the following is not a consumer right
a)
right to choose
b)
right to information
c)
right to redress
d)
right to free goods
21.
22. Which of the following owns Walmart?
a)
Alice Watson
b)
Francoise Bettencourt
c)
Elon Musk
22.
23. Which of the following does not own Google?
a)
Larry Page
b)
Sergey Brin
c)
Warren Buffett
23.
24. Who is the richest woman in the world?
a)
Francoise Bettencourt
b)
Yang Huiyan
c)
Jacqueline Mars
24.
25. Which of the following is the founder of facebook?
a)
Jeff Bezos
b)
Mark Zuckerberg
c)
Larry Page
25.
27. Who is the richest man in Africa?
a)
Aliko Dangote
b)
Nicky Oppenheimer
c)
Koos Bekker
26.
28. What country has the most billionaires in the top twenty?
a)
Nigeria
b)
China
c)
United States
d)
France
27.
29. Who was the richest woman in Africa in 2020?
a)
Folorunso Alakija
b)
Isabel Dos Santos
c)
Wendy Appelbaum
28.
30. What year was the Dangote Group founded?
a)
1980
b)
1981
c)
1982
d)
1983
29.
31. What industry has created fewer billionaires in the world?
a)
Technology
b)
Agriculture
c)
Ecommerce
d)
Automobile
30.
32. Is Folorunso Alakija the richest woman in Nigeria
a)
yes
b)
no
31.
33. What does it mean to buy something you do not need urgently because you saw it?
a)
impulse sight
b)
impulse sales
c)
impulse purchase
d)
impulse behaviour
32.
34. What is the process by which consumers get the necessary information that will help them make the best decisions when buying services?
a)
consumer information
b)
consumer education
c)
consumer rights
d)
consumer protection
33.
35. Who should be held responsible if a year 7 student consumes an expired product?
a)
the company that made the product
b)
the parent of the student who bought the product
c)
the shop that sold the expired product
d)
the student who consumed the product
34.
36. Is a list of chemicals used to make a perfume called ingredients?
a)
yes
b)
no
35.
37. What does this symbol stand for?
a)
reduce, remove, and recycle
b)
refuse, recycle, and reduce
c)
recycle, reduce, and reuse
d)
reuse, recycle, and return
36.
38. What is this chemical hazard sign?
a)
danger
b)
stop
c)
generic caution
d)
explosive
37.
39. What is this chemical hazard sign?
a)
Non-ionizing radiation
b)
Biohazard
c)
Ionizing radiation
d)
generic radioactivity
38.
40. What is this chemical hazard sign?
a)
Radiation
b)
Genetic hazard
c)
Biological hazard
d)
Corrosive
39.
41. Is it compulsory to read product information before purchase?
a)
yes
b)
no
c)
sometimes
40.
42. What does SME stand for?
a)
Small and Maximum Enterprises
b)
Size and Management Entrepreneurship
c)
Small and Medium Enterprises
d)
Small and Maximum-sized Establishment
41.
43. Is profit the main reason for starting a business?
a)
yes
b)
no
42.
44. Which of the following is the best synonym for an entrepreneur?
a)
business analyst
b)
business developer
c)
business dealer
d)
business owner
43.
46. Which of the following best describes the money that is used to start and run a business?
a)
fund
b)
income
c)
revenue
d)
capital
44.
48. Which of the following is not a factor of production?
a)
office
b)
capital
c)
entrepreneur
d)
labour
45.
49. Mr. Jones bought ten bags for ₦5,000 each and spent ₦5,000 on shipping the bags. Which of the following is a reasonable amount to sell each bag?
a)
below ₦5,000
b)
above ₦10,000
c)
exactly ₦5,000
d)
not less than ₦5,500
46.
50. What is the full meaning of CAC?
a)
Corporate Affairs Commission
b)
Company Affairs Commission
c)
Collateral Affairs Commission
d)
Capital Affairs Commission
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