These Business Studies questions and answers were pulled from our book (Business Studies questions for JSS 2); Compiled to serve as a reference material to help teachers draw up test and exam questions faster. It could also help students assess their level of exam preparation. Each sample question includes correct answers.
Sample Business Studies Exam Questions and Answers
DIRECTION: Choose the correct answer from the lettered options.
1. Customers who maintain current accounts usually withdraw money by the use of ________.
A. cheques
B. passbook leaves
C. a draft
D. ako-owo
E. envelopes
2. Which one of the following would be obtained when going on an overseas tour?
A. Bank draft
B. Overdraft
C. International money order
D. Traveler’s cheque
E. Local cheque
3. Payment by crossed cheque is a safe means because ________.
A. it can be used to obtain an overdraft
B. it has two parallel lines drawn across the face
C. it must be signed by the drawer
D. the cheque must be paid into an account
E. the cheque can be cashed over the counter
4. Which bank controls all other banks in the country?
A. The African Bank.
B. The Nigerian Bank.
C. The Central Bank.
D. The Control Bank.
5. The movement or transfer of money from one destination to another is called _______.
A. bank
B. remittances
C. telegraphic transfer
D. money order
E. postal order
Click here to get the complete Business Studies questions for JSS 2
CASHBOOK
1. The total of the discount column in the is posted to the appropriate ledger known as the ______ ledger.
A. general
B. debtors’
C. discount received/allowed
D. creditors’
2. The receipt number column shows the ________ number on the receipt issued to the customer.
A. set
B. centre
C. customer
D. serial
E. middle
3. All of these are types of cashbook, except ______ cashbook.
A. simple
B. two-column
C. three-column
D. double-entry
4. The _____ column clearly differentiates the two-column from the three-column cashbook.
A. cash
B. discount
C. bank
D. particulars
5. The ‘Amount’ column of a simple ledger account indicates the exact amount of ________ being accounted for.
A. accounts
B. assets
C. cheques
D. money
E. items
