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WorksheetsJSS3 Business Studies Quiz (A)
Total questions: 20
Worksheet time: 10mins
The main purpose of bookkeeping is to:
Record financial transactions
Advertise goods
Store goods in a warehouse
Transport goods
The document used to request payment from a customer is called:
Invoice
Receipt
Cheque
Order
A double-entry principle states that:
Every debit has a corresponding credit
Money should not be borrowed
Office records must be typed
Every seller must advertise
Petty cash is used to:
Pay for small expenses
Pay salaries
Record sales only
Lend money to banks
Which of these is NOT a source of capital for a business?
Loan from bank
Owner’s savings
Lottery ticket winnings
Sale of assets
One major function of a co-operative society is:
To exploit members
To promote members’ welfare
To avoid saving money
To close down businesses
An entrepreneur is:
A government worker
A risk-taker who starts and manages a business
A consumer in the market
A secretary in the office
The act of keeping business information secret is called:
Confidentiality
Correspondence
Transparency
Advertising
A person who buys in large quantities from the manufacturer and sells to retailers is a:
Wholesaler
Retailer
Consumer
Marketer
The record of all employees in an organization with their salaries is:
Ledger
Payroll
Petty cash book
Stock register
An example of direct tax is:
Value Added Tax (VAT)
Company Income Tax
Import duty
Excise duty
The communication process begins with the:
Sender
Message
Receiver
Feedback
The process of exchanging goods for goods without money is:
Trade by barter
Credit transaction
Home trade
Foreign trade
Which of the following is an electronic means of payment?
Cheque
Bank draft
ATM card
Promissory note
Consumer rights include the right to:
Be informed
Exploit producers
Refuse to pay for services
Hide defective goods
Consumer protection agencies in Nigeria include:
Central Bank of Nigeria
Standard Organization of Nigeria
Ministry of Sports
Federal Road Safety Corps
A business plan is prepared mainly to:
Guide the operations of a business
Advertise the business on television
Avoid paying tax
Replace office correspondence
Which of these is NOT a factor of production?
Land
Labour
Capital
Marketing
Trade disputes between employers and employees are settled by:
Police
Arbitration and negotiation
Consumers
Market women
Which of the following is a function of management?
Planning, organizing, directing, controlling
Farming, building, advertising, transporting
Buying, selling, consuming, producing
Reading, writing, speaking, listening
