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