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