Question 1
The main objective of a business is to
Objective
BECE Business Studies 2022 Past Questions
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Question 2
Buying goods in large quantities and selling in units to the final consumers explains
Objective
Question 3
Which of the following services is concerned with conversion of raw materials into finished goods?
Objective
Question 4
When an organisation is transparent in dealing with customers, this explains its quality of
Objective
Question 5
Impulse buying means purchasing an item
Objective
Question 6
The following are positive effects of production EXCEPT
Objective
Question 7
The buyer of a chemical must ensure the following are clearly stated on the label EXCEPT
Objective
Question 8
The person that bears the risk and uncertainties in a business is the
Objective
Question 9
The number of people required to form a partnership business ranges between two to
Objective
Question 10
Which of the following business enterprises does NOT have maximum number of shareholders?
Objective
Question 11
The aid to trade that assits businessmen in conveying their goods to various destinations is
Objective
Question 12
Buying goods in large quantities from the producer is a function of
Objective
Question 13
The target a business owner sets to achieve within a specified period represents its
Objective
Question 14
Which of the following instruments is used to finance the purchase of buildings?
Objective
Question 15
The meeting point of buyers and sellers of old securities is ...... market.
Objective
Question 16
The compensation paid to the insured by an insurance company in the event of suffering a loss is
Objective
Question 17
Which of the following is an insurable risk? Loss from
Objective
Question 18
Advertising is aimed at ..... of goods.
Objective
Question 19
Displaying organisations' products in an open space for sale at reduced prices is
Objective
Question 20
The fastest means of transporting passengers and goods is by
Objective
Question 21
Which of the following means of transportation uses track?
Objective
Question 22
The external environment of an organisation consists of
Objective
Question 23
Workers who are involved in buying, selling and distribution of goods and services are engaged in ........ occupation.
Objective
Question 24
When a customer notifies a manufacturer of dissatisfaction experienced in using their product, it is a
Objective
Question 25
The following are rights of a consumer EXCEPT rights to
Objective
Question 26
A formal statement of a business goal and how to achieve them is
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Question 27
In the channel of distribution of goods, middlemen refer to
Objective
Question 28
The bank the accepts and keeps deposits for its customers is ..... bank.
Objective
Question 29
A business organisation does NOT have control over its
Objective
Question 30
Which of the following business opportunities can be found at the local level?
Objective
Question 31
The regular inspection of accounts of business is
Objective
Question 32
The moral and professional code that guides bookkeepers are classified under
Objective
Question 33
Bookkeeping records are used for ...... assessment.
Objective
Question 34
The ethics that says bookkeeprs should follow laid down procedures in discharging their duties is
Objective
Question 35
The full meaning of the acronym TAP is Transparency, Accountability and
Objective
Question 36
The following are sources of finance to a businessman EXCEPT
Objective
Question 37
The main use of personal budget is to help one live within his
Objective
Question 38
The rebate granted for prompt payment of account is ...... discount.
Objective
Question 39
The following are examples of petty expenses EXCEPT
Objective
Question 40
The specified amount given to a petty cashier at intervals is
Objective
Question 41
Petty cash expenditure are posted to ...... of the relevant account in the ledger.
Objective
Question 42
Imperest system is a way of keeping
Objective
Question 43
The burden of the main cashier is reduced with the introduction of
Objective
Question 44
The following are features of cashbook EXCEPT
Objective
Question 45
Adamu settled his account of ₦10,000 by cheque and received a discount of 5%. What is the amount Adamu actually paid?
Objective
Question 46
In cashbook, transaction reference numbers are recorded in ..... column.
Objective
Question 47
When cash is withdrawn from the bank account for office use, this can also be referred to as ...... transaction.
Objective
Question 48
A trial balance is used to
Objective
Question 49
Which of the folliwng items is NOT found in a trial balance?
Objective
Question 50
What is the value of Aminu's cash balance in January, 2015?
Use the following information to answer questions 50 to 52
An extract from the books of Aminu for the month of January, 2015.
An extract from the books of Aminu for the month of January, 2015.
| ₦ | |
| Capital | 100,000 |
| Purchases | 70,000 |
| Sales | 95,700 |
| Loan to Abuh | 5,000 |
| Sundry expenses | 3,500 |
| Wages | 2,500 |
| Rent | 8,000 |
| Cash balance | ? |
What is the value of Aminu's cash balance in January, 2015?
Objective