AIC JSS 2 3rd Term Business Studies Exam 2022/23
  • 1. 1. The apex bank in Nigeria is called
A) The Century Bank of Nigeria
B) The First Bank of Nigeria
C) The Center Bank of Nigeria
D) The Central Bank of Nigeria
  • 2. 2. Which of the following bank regulates the money market?
C) The CBN
  • 3. 3. The First Bank of Nigeria is an example of ____________
A) mortgage bank
B) savings bank
C) merchant bank
D) commercial bank
  • 4. 4. Which of the following regulates the capital market?
B) The SEC
D) The CBN
  • 5. 5. E-commerce means
A) Electronic
B) Electronic Commerce
C) Electronic consumption
D) Election Commerce
  • 6. 6. E-retailing is sometimes used for ______________
A) e--bay
B) e- pay
C) e-- uber
D) e- commerce
  • 7. 7. The aim or purpose of doing business is to make __________
A) loss
B) profit
C) fun sake
D) charitable purpose
  • 8. 8. Commerce is subdivided into __________
A) four
B) three
C) two
D) five
  • 9. 9. ATM means
A) Automatic Telling Machine
B) Automatic Toll machone
C) Automated Teller Machine
D) None of the above
  • 10. 10. Capital markets are of _________ major types.
A) six
B) seven
C) three
D) two
  • 11. 11. The primary market is where __________ are created.
A) goods
B) second hand
C) securities
D) money
  • 12. 12. Examples of financial securities are following except
A) shares
B) bond
C) stock
D) money
  • 13. 13. ____________ serves as a link between savers and investors.
A) commodity market
B) capital market
C) labour market
D) money market
  • 14. 14. The secondary market is also known as
A) market
B) aftermarket
C) Agbara Market
D) store
  • 15. 15 The SEC means
A) The Specimen and Exchange Corporation
B) The Standard and Exchange Commission
C) The Securities and Exchange Commission
D) The Security and Exchange Commission
  • 16. 16. Money market is for short-- term loans.
A) False
B) I don't known
C) True
D) I've not been taught
  • 17. 17. ____________ supplies money for working capital requirements.
A) capital market
B) Money market
C) Oshodi market
D) market
  • 18. 18. ___________ supplies funds for fixed capital requirements.
A) Capital market
B) labour market
C) common market
D) money market
  • 19. 19. ___________ involves lending and borrowing for long term finance
A) Capital market
B) Common market
C) Money market
D) Commodity market
  • 20. 20. A retailer bought 10 refrigerators at #60,000 each with 5% discount allowed, calculate the discount allowed.
A) #60,000
B) #45,000
C) #30,000
D) #3,000
  • 21. 21. A retailer bought 10 refrigerators at #60,000 each with 5% discount allowed by seller. Calculate the amount payable by the retailer.
A) #60,000
B) #600,000
C) #30,000
D) #570,000
  • 22. 22. _____________ are traded in capital market.
A) Financial monies
B) Papers
C) Currencies
D) Financial securities
  • 23. 23. Production is not complete until goods produced get to the _______________.
A) consumer
B) retailer
C) wholesaler
D) supplier
  • 24. 24. ___________ means the number of times a retailer replenishes stock.
A) Gross profit
B) Turnover
C) Cost of goods sold
D) Mark up
  • 25. 25. ______________ is the difference between the cost of goods and the profit of doing business.
A) Mark up
B) Make up
C) Profit
D) Overhead cost
  • 26. 26. ____________ are the expenses incurred when doing business.
A) Overhead costs
B) Overhand costs
C) Average costs
D) Marginal costs
  • 27. 27. Gross profit is total sales less ___________
A) total costs
B) total amount
C) total revenue
D) total sales
  • 28. 28. What must be deducted from gross profit to arrive at net profit?
A) Purchases
B) Return inwards
C) Sales
D) Overhead costs
  • 29. 29. The acquisition of goods for sale is known as _______________.
A) profiting
B) None of the above
C) Selling
D) purchasing
  • 30. 30. _____________ is the amount of money added to the cost of goods as profit.
A) Mark up
B) Sales
C) Make up
D) Discount allowed
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