PRECIOUS SECONDARY SCHOOL, ARAMOKO-EKITI

1. 
   All the following are component of business studies except (a) commerce (b) book-keeping (c) biology.
   
2. 
   All these are usually found in an office except (a) filling cabinet (b) computer and printer (c) table and chairs.
   
3. 
   One of these is a definition of an office (a) a place where people go to pray (b) a place where clerical staff furthers their education (c) a place where clerical and administrative duties are performed.
   
4. 
   It is possible for a clerk to do several jobs when he works in _____ (a) the principal office (b) a big office (c) a small office.
   
5. 
   The person who operate the typewriter is called ___________ (a) operator (b) typist (c) computer engineering
   
6. 
   One of the reasons for studying business studies is to ________ (a)solve unemployment (b) reduce the naira note (c) increase lazy people
   
7. 
   The main reason why an individual goes into business is to ________ (a) make profit (b) develop the society (c) help the poor.
   
8. 
   Which of the following is the most common means of transportation in Nigeria? (a) Road (b) pipeline (c) water.
   
9. 
   The document that give first-hand information for book-keeping entries is ______ (a) source document (b) original document (c) root document
   
10. 
    Which of the following is not a type of source document (a) higher education (b) invoice (c) receipt
    
11. 
    Source document prepared by the seller to increases the indebtedness of the customer is called (a) credit note (b) debit note (c) invoice
    
12. 
    An unconditional order initiated by a party called drawer is called _______ (a) invoice (b) cheque (c) receipt.
    
13. 
    _________ propounded the principle of double entry (a) Paul Pacioli(b) Luca Pacioli(c) Luca Pius.
    
14. 
    Credit the _________ account (a) receiver’s account (b) giver’s account (c) owner’s account.
    
15. 
    The book of original entry in which transaction are recorded is ________ (a) journal (b) ledger (c) trading account.
    
16. 
    How many type of typewriter do we have? (a) two (b) three (c) five
    
17. 
    A document which serve has evidence of business transaction is called _______ (a) original document (b) source document (c) normal document
    
18. 
    Another name for returns outwards journal is (a) purchases returns (b) sales returns (c) inwards returns.
    
19. 
    The source document that serve as evident of payment is ___________ (a) receipt (b) cashbook (c) ledger
    
20. 
    Which of the following is the factor of production that controls others? (a) entrepeunuer (b) capital (c) land.
    

From this section, choose one of the two questions and draw the appropriate account to record the transaction.

1. 
   Write up the purchases journal sam and sons and post to the ledger for the month of the Dec 2008
   

10 tin of bournvital at #450 per one

20 cartons of digestive biscuit at #15 a carton

Invoice subject 25% trade discount

December 18 bought from PZ limited

140 bags of flours at #10 each

400 soaps at #20 each

Trade discount of #5%

December 25 bought from Cocacola

12 creates of coke at #249 each

5 creates of Fanta at #420 each

Trade discount of 20%