Commerce.
SSS 2
Section A- Objective Test
1. The amount of capital which a new company proposes to be registered is called---------------a) called-
up capital b)nominal capital c) issued capital d)fixed capital.
2. Debenture is an example of---------------a) fixed capital b) share capital c) loan capital d) working
capital.
3. The difference between cost and selling price gives_________a) Trading loss b)Net profit/loss c)
Gross profit or loss d) Turnover
Use the following equation to answer questions 4 and 5.
Gross Profit = (Closing stock + P) less (Opening stock + G)
4. What is P in the above equation a) purchase returns b)net profit c) sales d) carriage forward
5. What is G in the above equation a) Sales return b) carriage inward c) purchases d) Sales
6.If the turnover of a business is N16,000 and the cost of goods sold is N12,000. What is the percentage
of gross Profit on sales a)70% b)40% c)33.3% d)25%.
7. When a company uses more of loans than equity to finance its business the company is said to be a)
bankrupt b) solvent c) highly geared d) insolvent.
8. Which of the following shows the financial position of a business on a given date__________a) bank
statement b) journal c) balance sheet. d) cash book.
9.A person that buys shares hoping to resell at higher price is called a a) bull b)bear c)stag d) broker.
10. Any member of the public who wants to buy shares at the stock market will first of all meet a/an a)
agent b) broker c) jobber d) shareholder
11. Telecommunication services are provided by a)NITEL b) NIPOST c) courier services d) bureau De
change
12. The fastest and most accurate means of passing information is a) airmail letter b) express letter c)
telegram d) telephone.
13. The excess value of the assets of a business over its liabilities is ___________a) capital owned b)
working capital c) issued capital d) reserve capital.
14. Assets of business which cannot be changed easily to cash are known as___________a) floating
capital b) fixed capital a) working capital d) current capital.
15. The cost of transporting goods to customers is called____________a) carriage inwards b) carriage
outward c) carriage paid d) carriage forward.
16. The form of capital which is easily transferred into the form desired is known as____________a)
working capital b) liquid capital c) circulating capital d) capital employed.
17. In a stock exchange transaction, the buyer is NOT entitled to the dividend when the stock is quoted
a) clean b) ex-dividend c) double barreled d) cum -dividend.
18. Government securities are described as gilt-edge because they are a) issued under tight security b)
owned by public corporation c) traded on the stock exchange d) regarded as safe to invest in.
19. Mail order firms largely depend on the services of the a) banks b) insurance companies. c) mobile
vans. d) post office.
20. In which of the following does the number of words used determine the cost of the message. a)
Telephone b) Recorded delivery c)Telex d) Express mail.
SECTION B - Theory
Answer any 5 questions
1a. Explain what is meant by each of the following:
(I) Gross profit (Ii) Net profit (III) Net sales
b) Distinguish between turnover and rate of turnover
2. If the cost of goods sold is #4000 and the stock is turned over five times yielding a profit of 10% on
sale, calculate the:
a) average stock b) gross Profit c) turnover
3a. Outline any 5 factors, which might affect the rate of turnover.
b. List 5 examples of each of the following:
i) Fixed Assets Ii) Current Assets
4a. State 2 importance of the Balance Sheet as a financial statement.
b. List 4 liquidity ratios that can be used to evaluate the viability of a business firm.
5a. State 2 uses of financial ratio
b. List 4 uses of the Trading, Profit and Loss Account prepared by business firms.
6a. Describe each of the following: i) Stock brokers ii) Issuing Houses iii) Securities.
b. Write short notes on the following: i) Capital market ii) Money market.
7a. What is the importance of Stock Exchange to the economic growth of Nigeria?
b. What is the second-Tier (organ) securities market?
CIVIC EDUCATION SSS 2
1. The head of the judicial arm of government in Nigeria is the a) Chief Justice b) Supreme Leader c)
Chief of Staff d) Chief Magistrate.
2. The composition of National Assembly of the Federal Republic of Nigeria could be termed a)
unicameral b) collegial c) bicameral d) hierarchical.
3. The officials of the administrative agency of the state that are most active in governance belongs to
the a) legislative organ b) judicial organ c) executive organ d) civil societies.
4. One major reason some Nigerian youths join cult groups is a) I adequate religious and moral
instruction b) poor welfare programme for students c) inadequate support from guardians and parents
d) prevalence of corruption among political elites.
5. All the following are aims of youths empowerment scheme except a) reduction of youth delinquency
b) promotion of self- reliance c) maximization of profit d) building of self- esteem.
6. A situation where only 35% of over 80 million registered voters participated in a general election,is an
indication of political a) instability b) exclusiveness c) apathy d) socialization
7. Interest and willingness to participate in the affairs of a nation are forms of a) popular participation
b) national consciousness c) political apathy d) citizenship education.
8. The societal norms that represents the overall attitude of the people in a society is called a) group
values b) general values c) religious values d) personal values
9. Article I of the Universal Declaration of Human Rights (UDHR) states that all human beings a) have
freedom of movement b) are born free and equal c) should be free from torture d) have the right to
recognition.
Use the quotation below to answer questions 10 and 11.
If you cannot beat them,join them.
10. The statement is an indication of a society that is a) ethically upright b) morally degenerated c)
politically disinterested d) socially regenerated.
11. Through which of the following means can the effect of the above quotation on the society be
rectified? a) compulsory communal service b) Strengthening of the constitution c) Distribution of relief
materials during emergency d) Reorientation of values.
12. Interpersonal relationship is promoted through the following ways except a) confrontation b)
healthy competition c) cooperation d) communal living
13. An activity meant to promote and protect the interest of a country is a) unitarianism b) communism
c) communalism d) nationalism
14. Democracy is important because it a) accommodates popular participation b) accommodates
political apathy c) encourages operational bureaucracy d) breeds ethnic competition and rivalry.
15. Which of the following criminal act is most commonly perpetrated by cult members. a) prostitution
b) money laundering c) corruption d) violence.
Use the passage below to answer questions 16 and 17.
It is a common practice for the youths of Upe village to meet every last Saturday of the month to build a
proposed structure. Through this practice, they have successfully built a monumental market complex
which attracts people from neighboring villages.
16. The zeal shown by the youths of Upe village is a manifestation of a) community service b) national
development c) political participation d) town planning.
18. The youth who took part in the various building projects in Upe village are said to be a) reliable b)
self reliant c) hardworking d) selfless.
19. A prerequisites for orderliness is a) humility b) morality c)hardwork d) politeness.
20. National symbols are also referred to as symbols of national a) co-operation b) identify c)unity d)
development.
Section B- Essay
Answer any 5 questions from this section
1a. Define and explain the term Responsible Parenthood.
1b. Discuss 3 qualities
ECONOMIC
SSS 2
SECTION A- Objective Test (15%)
1. Which of the following is a factor that affects supply of money? a) Citizens b) Bank rate c) Level of
education d) Level of literacy.
2. Liquidity preference in the concept of demand for money is the same as------------- a) velocity of
money b) supply of money c) desire to hold money in cash d) value of money.
3. A government treasury bill is a form of debt instrument which falls due for repayment after. a) 3
months. b)9 months c) 2 years d) 5 years.
4. In the money market,money can only be borrowed for------------------ a)long term b) short term c)
capital projects d) public utilities
5. Inflation caused by an increase in demand is known as----------------- a) cost push inflation b) demand -
pull inflation c) hyper-inflation d) creeping inflation.
6. One way to solve the economic problem of inflation in a country is by increasing the a) supply of
commodities b) supply of currency c) salaries of workers d) demand for commodities.
7. Which of the following is not an item of capital expenditure? a) building of dams b) supply of
electricity c) payment of interest on loans d) building of harbours.
8. Which of the following items cannot be classified as Essential Government Expenditure. a)
construction of roads b) serving of External Debts c) maintenance of public hospitals d) importation of
luxury consumer goods.
9. Mr. Bello's income is #800 per month while that of Mr. Jatau is #1200. If Mr. Bello and Mr. Jatau pay
#80 and #120 respectively as taxes, the tax system is----------------- a) progressive b) regressive c)
proportional d) ad-valorem.
10. A worker earns $80000 per annum. He pays $4000 as tax. What percentage of his income does he
pay as tax? a) 10% b) 8% c) 5% d) 4%.
11. Budget deficit can be financed by a) reducing the level of taxation b) printing more money. c)
lending of financial institutions d) employing more workers.
12. Budget surplus implies that a) expenditure equals revenue b) expenditure is less than revenue c)
expenditure is greater than taxation. d) direct tax is more than indirect tax.
13. A stock holder partakes of the profits of a limited liability business by receiving a) shares. b) profits
c) wages and salaries d) dividends.
14. Long term loans can be secured from----------------- a) commercial banks b) discount houses c)
development banks d) acceptance house.
15. GDP at the market prices plus net factor income from abroad gives--------------- a)gross capital
formation b)net capital formation c) disposable income. d)gross national product.
16. NNP is equal to the-------------- a) GDP less depreciation b) GNP plus depreciation. c) GDP plus
depreciation d) GDP less depreciation.
17. The real capital investment of a country is a reflection of it's--------------- a) total debts b) total goods
c) total income d) total reserve.
18. --------------- is the major determinant in the concept of saving, investment and consumption. a) cost
of living b) multiplier c) standard of living d) income.
19. The disposable income of Ade increases by #10 million and her marginal propensity to consume also
goes up to #0.6,how much of the additional will she save? a) #40000 b) #400,000 c) #600000 d)
#4000000.
20. Calculate the average propensity to consume if the national income is #20 million and the total
national consumption is #15 million. a) 0.25. b) 0.17. c) 0.75 d) 0.1.
SECTION B- Theory (55%)
Answer question 1 and any other 4 questions.
1a. Below is information concerning the gross national product for a country in 2000(in billions of naira)
by sectors that buy the GNP.
Heading. Amount
- Gross private domestic investment 452.3
- Personal consumption expenditure 627.1
- Government purchase of goods and services 104.2
- Exports of goods and services 200.2
- Imports. 40.5
i) What method of national income is used for the above table?
ii) Calculate the national income of the solution.
bi) If the marginal propensity to consume is 0.9, calculate the multiplier.
ii) By how much must consumption expenditure be increased to increase income by #20,000.
c) What is the MPS if the total national income increase from #845m to #955m and the total national
savings increases from #65m to #250m.
2a. Differenciate between Demand for Money and Supply for Money.
b) State and briefly explain the 3 motives for holding money.
c) List and explain 3 factors affecting Supply of Money.
3a) Write a short note on:
i) money market ii) treasury bill.
b.What is capital market?
c. Outline 3 functions of capital market.
4a) What is inflation?
b. Explain 2 types of inflation.
c. State 3 causes of inflation
5a) State 5 objectives of Public Finance.
b. What is Fiscal Policy in governance.
c. Outline 3 features of taxation.
6a.) Distinguish between Direct and Indirect tax.
b) State 3 economic effects of indirect taxes.
c) What is the dissimilarity between tax Evasion and tax Avoidance.
7a. List the types of budget and explain any 2.
b) State 5 basic reasons why government borrow.
c. What is the difference between Net National Product and Net Domestic Product.
Economics SS 1
Section A- Objective Test.
1. The wholesaler provides all the following services to the producers except a) financing b) marketing
the product c) granting credit d) after sales service.
2. Which of the following is not an agent of distribution a) retailer b) government agencies c) co-
operative society d) consumer.
3. Which of the following functions do retailers perform in an economy a) production b) exchange c)
lending d) distribution.
4. One of the greatest demerits of the middlemen in Nigerian is that they a) sell i small units only b,
increase in the price of goods and services at will c) store in warehouse that are specious enough d) do
not advertise their goods.
5. Which of the following is a factor that affects supply of money. a) citizens b) bankrate c) level of
education d) level of literacy.
6. One of these is not a problem of barter system a) waste of time. b) bulkiness c) problem of storage d)
durability.
7. The lender of last resort in the banking system is the a) development bank b) mortgage bank c)
commercial banks d) central bank.
8. To a commercial bank, deposits are-------------- a) assets b) capital c) liabilities d) cash at hand.
9. Effective demand means the a) quantity of goods demanded b) quantity of goods supplied c)
demand that satisfies the consumer d) demand back by the ability to pay.
10. When demand for a commodity is not back up with willingness and ability to pay, the situation is
regarded as----------------- a) a mere desire b) an effective demand c) abnormal demand d) derived
demand.
11. Effective supply means the------------- of goods produced at a particular time a) proportion b) entire
quantity c) total volume d) entire stock.
12. Which of the following is a luxury item a) petrol b) textbook c) pencil d) gold.
13. At the equilibrium price, quantity demanded is a) greater than quantity supplied. b) equal to
quantity supplied c) less than quantity supplied d) equal to excess supply.
14. The market price of a commodity is normally determined by the a) law of demand b) interaction of
the forces of demand and supply c) total number of people in the market. d) total quantity of the
commodity in the market.
15. The gap between demand and supply curves below the equilibrium price indicates
16. The outline of the structure of the Nigeria economy consists of the following classification
except---------------- a) production b) general commerce. c) services d) governance.
17. Before the advent of oil boom in Nigeria, the economy was completely depended on ------------- a)
agriculture b) oil exploration c) foreign trade d) industrial activities.
18. Use of crude implement is a problem of------------------ a) transportation b) agriculture c) politics d)
environment.
19. Rubber and cotton are examples of---------------- crops a) food b) cash c) plantation d) consumer.
20. Poverty is a problem of agriculture a) false b) true c) none d) indifference.
SECTION B-ESSAY
Answer question 1 and any other 4 questions.
1a. i) "The Wholesaler performs useful economic functions" explain in details.
ii) Highlight 5 differences between a wholesaler and a retailer.
1b. Explain the process of distribution
1c. How is a wholesaler regarded as a "Bulk Breaker"
2a. Who is a Middleman?
2b. Explain the cogent reason why middlemen should be eliminated in the distribution channels.
3a. Briefly explain the origin of money.
3b. State 5 characteristics of money.
4a. Define financial institutions.
4b. Highlight 4 functions of commercial bank.
5a. Differenciate between fiscal policy and monetary policy.
5b. Differenciate between a demand schedule and a demand curve.
6a. State the Law of Supply.
6b. What is price mechanism?
7. Given the demand and supply function of a crate of eggs as follows: Qd= 12-2p; Q= 3+1p.
a) Determine the equilibrium price and quantity.
b) What is the excess supply at the price of #3.50?
8a. In a tabular form, state 5 problems of Agriculture in West Africa and their solutions.
b. Briefly explain component of mining Industry in Nigeria.
COMMERCE. SSS 1
Section A: Objective Test -20%
1. A marketable item produced to satisfy wants or need is called----------------------. a) Goods b) Crops c)
Commodity d) Plantation.
2. Which of the following is not a condition necessary for trading? a) Knowledge of the product b)
familiarity with customers desires c) familiarity with computer d) knowledge of the price.
3. One of the following is not a trading requirement. a) grading system b) pricing system c) clearing
system d) warehousing.
4. --------------------is an example of energy commodity. a) gold b) gas c) oil d) coal.
5. The system by which buyers pay immediately they receive the goods is referred to as--------------a)
trading b) spot trading. c) forward trading d) annual trading.
6. The process by which the seller receive part payment before the commodity is delivered is
called--------------------- a)trade credit b) letter of credit c) bill for collection d) bill for payment.
7. The electronic means of trading is usually done a) on computer b) on DHL c) on Jumia d) on line.
8. One of the following fosters the farmer to produce more a) Monopoly b) price control c) price
stabilization d) all of the above.
9. Which of the following is not a constraint to commodity trading? a) inadequate supply b) poor
storage c) bad weather d) stable price.
10. ----------------- is used by a compy to make itself available to ownership by outside parties. a)
commodity b) stock c) product d) shares.
11. One of the following is not a tangible product. a) insurance policy b) vehicles c) building d)
computer.
12. Sole proprietorship is referred to as a) small business b) large business c) one-man business. d) sole
business.
13. The oldest type of business organization in Africa is ------------------ a) proprietorship b) sole trading
c) partnership d) limited liability.
14. Which of the following is a trade in the primary industry a) fishing b) barbers c) musicians d) hair
dressers.
15. The individuals involve in partnership deal are a) partnership b) partners c) shares d) people.
16. The most number of people in a partnership is a) 10 b) 2 c) 20 d) 50.
17. One of the following is not a characteristic of partnership a) management b) liability c) ownership
d) illegal entity.
18. Which of the following is not a stage in the development of money? a) exchange b) bank note c)
commodity. d) coins.
19. Which of the following is not a quality of money? a) homogeneity b) stability c) divisibility d)
purchasable.
20. The following are forms of money except a) coins b) cash c) legal tender d) Fiat money.
Section B: Essay
1)a. What is a Deed of partnership?
b) Give 3 rights of a partner.
2). Deborah and Charles are sole proprietors be merged to form a partnership. Explain in details to
Charles how such a partnership would be to their mutual benefits
3) Explain the following:
a) Token money b) Fiduciary note c) partial money.
4) Explain 3 benefits that would be derived and 3 losses that would be suffered when a sole trader
admits other partners.
5) List and discuss 3 major constraints to commodity trading in Nigeria.
6a) List and discuss 2 major methods of trading.
b) Mention 6 goods that can be exported to bring foreign currencies.
7) Explain the following concepts: a) commodity b) commodity exchange c) Tradable commodities.
REMAIN BLESS!!!!!!
CIVIC EDUCATION SSS 1
Section A-Objective Test
Answer all Questions
1. The UDHR was adopted by the-------------- General Assembly. a) African Union b) Organization of
African Unity c) European union d) United Nations.
2. The UDHR was adopted in -------------------- a)1948 b) 1946 c) 1944 d) 1938.
3. The UDHR has --------------- section a)1 b) 2 c) 4 d) 4
4. There are ---------------- categories of human rights according to UDHR. a) 2 b) 3 c) 6 d) 7
5. What does the last article say? a) No person can take away your rights b) entitlement to social order
c) rights to own property d) rights to privacy.
6. Social crimes committed in institutions of higher learning today is a) cultism b) fighting c) ritualism d)
cannibalism.
7. Cult activities are sometimes laden with----------------- a) killing b) protest c) bloodshed d) power
emancipation.
8. A group whose activities are made hidden from the public is ----------------- a) black eyes b) fraternity
c) red devil d) secret cult.
9. The term secret cult was formulated by a)Babatunde b) Francis Coker c) Ibrahim Babangida d) none
of the above.
10. The first fraternity in Nigeria was the a) pyrates confraternity b) wealthy gonnas c) black eye d)
scorpion.
11. The pyrates confraternity are also known as a) black sheep b) popular boys c) magnificent seven d)
dragon.
12. Dr. Bolaji Carew formed the ---------------- group a) buccaneers b) black eye c) the dragon d) the red
devil.
13. The Confraternity Eiye was also known as the. a) Association of Airlords b) buccaneers c) no
feather,no bird d) tigers.
14. Pick out the odd one a) ignorance b) popularity c) revenge d) power
15. Untimely death is a consequence of a) money laundering b) billionaire club c) cultism d) money
ritual.
16. All the following are examples of orderliness except a) listening skills b) driving skills c) training
skills d) decorum
17. All the following are benefits of orderliness except a) emulation b) fulfilment c) possibility d)
queuing
Use the passage below to answer questions 18-20.
It is noticed that Debby and Charlie have cultivated the habit of undertaking their house chaos in in a
DECENT, perfect and best way possible. Their parents as well as their school teachers are very proud
and optimistic about them and because of such attitude,they have attained the highest level of
ALTITUDE.
18. The word ALTITUDE is synonymous to-------------- a) behavior b) habit c) overlook d) great
19. From the above passage,one can deduce that the children demonstrated--------------- a) obedience b)
unity c) orderliness d) humility.
20. From the passage above,it is advisable for children to act a) otherwise b) likewise c) differently d)
act in opposite directions.
Section B- Essay
Answer only 5 questions
1a) Briefly explain the term UDHR
1b) List the 6 categories of Human Rights and explain any 2.
2a) State any 5 articles of the UDHR
2b) List 5 core freedoms of the UDHR.
3a) What is the meaning of Universal Declaration of Human Rights?
3b) Vividly write short note on the History of UDHR.
4a) Explain 3 roles of individuals in promoting UDHR
4b) Explain 2 roles of government in promoting UDHR.
5a) Define the following: a) cult b) cultism c) secret cult.
5b) State 5 examples of cult groups in Nigeria
6a) Mention 5 ways of preventing cultism in the society.
6b) Highlights 5 characteristics of cult groups.
7a) Explain 3 roles of orderliness in the society.
7b) State 3 importance of constituted authority.
