Junior WAEC 2024 Questions and Answers Business Studies

This is for BECE Candidates looking for Junior WAEC 2024 Questions and Answers Business Studies. The Business Studies paper is compulsory for all candidates regardless of their school. So, here you will get genuine Junior WAEC 2024 Questions and Answers for Business Studies. Your duty now is to read through them as many times as possible and get ready to smash your paper.

What are Junior WAEC 2024 Questions and Answers Business Studies?

Junior WAEC 2024 Questions and Answers Business Studies are the questions you should expect in your Business Studies paper in 2024 BECE, together with their answers.

It is very important that every candidate preparing to sit for in the forthcoming 2024 BECE examination should catch a glimpse of these questions.

In so doing, they will know what to expect in the exam hall. Knowing exactly what to expect will boost their confidence and guarantee them a very high score.

Read Also: Meaning, Components and Importance of Business Studies

Junior WAEC 2024 Business Studies Questions and Answers Revealed!

On this page, we shall reveal Junior WAEC 2024 Questions and Answers for all candidates taking the Business Studies paper.

How lucky you are to stumble upon this important page!

The questions are genuine and the answers are accurate, and all are a product of our passion to see you excel in your BECE and proceed to Senior Secondary School.

In the following sections, you will read the Business Studies questions you are to expect in your 2024 Junior WAEC exam as well as their answers. You can use the comments section if you still need clarification over some of the questions. We will give you a more detailed explanation.

BECE is a very serious and important examination. You will answer 60 questions in BECE Business Studies 2024 within 2 hours. So it’s important that you pay attention to the information revealed on this page.

Read Also: Junior WAEC 2024 Questions and Answers for All Subjects

Junior WAEC 2024 Questions and Answers Business Studies [Numbers 1 – 10]

1. A large loop written in the same direction as the S circle represents the
A. sway              B. Ster
C. Swear            D. Steer

2. …. is the act of giving information about a product to the public.
A. Business          B. Communication
C. Commerce      D. Advertising

3. The major parts of a business letter are
(I) The closing
(II) The opening
(III) The body
(IV) The heading
A. I and II only              B. II only
C. I, II and III                 D. all of the above

4. Commercial banks operate two main deposits
A. open deposit and saving
B. circle deposit and saving
C. fixed deposit and saving
D. bank statement

5. Detailed information about quantities of good supplied or carried into the storeroom could be found in the
A. requisition form
B. stock record card
C. delivery note
D. stock balance

6. A cheque drawn by a bank on itself and made payable to a named person at any bank in the town of the person to whom it is payable is called
A. cash             B. cheque
C. money         D. draft

7. In order to avoid awkward joining “T” is written …………….. before “m”
A. upward             B. downward
C. horizontal         D. vertical

8. …………… paragraph is a style of paragraphing in which the first line is started five spaces in, from the left margin
A. block              B. indented
C. hanging          D. line

9. Which of the advertising media has the following characteristics: “oldest form of advertising, most popular and cheapest”?
A. Television           B. Radio
C. Newspaper         D. Magazine

10. Which of the following is NOT a type of market?
A. auction            B. shops
C. stalls                D. open market

Answers to Question Number 1 – 10

1.B   2.A   3.D   4.C   5.B   6.D   7.B   8.B   9.B   10.A

Junior WAEC 2024 Questions and Answers Business Studies [Numbers 11 – 20]

11. In a balance sheet, the amount of debt that must be paid is represented by
A. loan            B. liabilities
C. assets         D. stock

12. The four double vowels in Pitman’s shorthand “i” “oi” “ow” and U are called
A. phrasing
B. double consonants
C. diphthongs
D. prefixes and suffixes

13. During typing the display of information both horizontally and vertically in columns is known as
A. stencil cutting         B. speed
C. accuracy                 D. tabulation

14. In which of the following is the final result of the trader’s operations for the period ascertained?
A. Trading account
B. Profit and loss
C. Balance sheet
D. trial balance

15. Most often, manufactured goods get to the final consumers through
A. manufacturer      B. retailer
C. wholesaler          D. distributor

16. ………… is a current asset?
A. Building         B. Planting
C. Goodwill        D. Stock

17. Frequently occurring words represented by a stroke or outline is called
A. phrase           B. frequency
C. short form     D. long form

18. A correction sign ‘U’, ‘C’ means
A. close up         B. insert comma
C. lower case      D. upper case

19. At the end of the trading period, the net profit or net loss is transferred by journal entry to the
A. trial balance           B. trading account
C. balance sheet        D. capital account

20. A method of trading through the post is called
A. postage stamp         B. telegram
C. mail order                 D. delivery note

Answers to Question Number 11 – 20

11.B   12.C   13.D   14.B   15.B   16.D   17.C   18.D   19.D   20.C

Junior WAEC 2024 Questions and Answers Business Studies [Numbers 21 – 30]

21. A balance sheet is essentially a statement of the ……. at a particular date.
A. assets and liabilities
B. income and expenditure
C. profit and loss
D. records and valuation

22. The art of writing words without lifting of the pen is called
A. shorthand        B. diphthong
C. phrasing           D. joining

23. In typing long and legal work, you use a paper size of
A. FCP/fullscap
B. A4
C. A5
D. A6

24. From which of the following documents does the trader prepare his sales day book?
A. way bell        B. cash receipt
C. invoice          D. credit note

25. In some offices, callers who wish to see an officer are asked to complete a
A. visitor’s book
B. request form
C. business card
D. telephone message pad

26. This is not reflected in the trading profit and loss account
A. income
B. asset
C. net profit or loss
D. expenses

27. To file documents, a …….. is needed to punch holes on the papers to be filed.
A. perforator         B. pin
C. stapler               D. filing cabinet

28. The warning bell at the end of the line indicates that you have ……. letters to type before you get to the right hand margin.
A. 2          B. 3
C. 4          D. 5

29. One of the functions of advertising is the provision of
A. information       B. interest
C. money               D. goods and services

30. All mails received in or within an organization are received in a ………… book.
A. cash               B. dispatch
C. inward           D. outward

Answers to Question Number 21 – 30

21.A   22.C   23.A   24.C   25.B   26.B   27.A   28.D   29.A   30.C

Junior WAEC 2024 Questions and Answers Business Studies [Numbers 31 – 40]

31. The proof of the quality of debit and credit in ledger is called
A. bookkeeping          B. journal
C. trial balance           D. balance sheet

32. The vowel sounds in a word determines
A. writing position
B. vowel sound
C. nature of outlines
D. all of the above

33. The home keys are found on the …….. row of the keyboard.
A. first          B. second
C. third         D. fourth

34. To prepare invoice, usually …………. copies are produced.
A. two            B. three
C. four            D. five

35. A room in an organization set aside for clerical activities of the organization is called
A. store               B. school
C. company        D. office

36. The original amount given to a petty cashier is called
A. till              B. imprest
C. cash           D. interest

37. The business capital in the balance sheet can be increased by
A. gross loss          B. gross profit
C. net loss              D. net profit

38. The word ‘fat’ is the last word you are to type but you had already typed fa at the end of the line, to type the remaining t, you use the
A. margin release lever
B. tabulator key
C. carriage return lever
D. line space regulator

39. Manufacturers grant trade discount as a means of encouraging customers to
A. pay promptly
B. buy in bulk
C. like manufacturers
D. behave well

40. The department which is in charge of buying all materials equipment needed in the organization is called
A. personnel            B. sales
C. purchasing          D. accounts

Answers to Question Number 31 – 40

31.C   32.D   33.B   34.C   35.D   36.B   37.D   38.A   39.B   40.C

Junior WAEC 2024 Questions and Answers Business Studies [Numbers 41 – 50]

41. Payments for …….. is a function of the petty cash.
A. wages               B. salaries
C. contracts          D. stationary

42. When R begins a word
A. downward R is used
B. upward R is used
C. the R outline is written sideways
D. none of the above

43. The inside address is typed at the
A. right topside of the paper
B. left topside of the paper
C. margin two clear spaces from the date
D. middle of the paper

44. Gross profit is determined by total sales minus
A. sales returns
B. sales discount
C. closing stock
D. cost of goods sold

45. The department that is concerned with all matters about staff welfare, training, transfer, recruitment, promotions and evaluation is known as
A. Planning             B. Sales
C. Personnel           D. Purchasing

46. The letter ‘C’ placed in the folio column of the cash book represents ……. entry.
A. credit             B. cash
C. contra            D. caution

47. The K, G, M, N, NG consonants are written
A. horizontally        B. perpendicularly
C. circularly             D. caution

48. To type the name of the writer you turn ………. single line after the complementary closing.
A. three              B. five
C. seven             D. nine

49. The third column in the three column cash book shows
A. discount               B. cash
C. bank                     D. contra-entry

50. The outlines, which are written above the line, are usually regarded as …… vowels.
A. first place              B. important position
C. second place         D. AW and O

Answers to Question Number 41 – 50

41.D   42.B   43.C   44.D   45.C   46.C   47.A   48.B   49.A   50.A

Junior WAEC 2024 Questions and Answers Business Studies [Numbers 51 – 60]

51. An A5 paper is equivalent of
A. half of A4 paper
B. one-quarter of A4 paper
C. one-third of A4 paper
D. two-third of A4 paper

52. Assets which are acquired without a view of selling them in the near future but for retention in the business are normally called …….. assets.
A. floating           B. current
C. fixed                D. liquid

53. A diphthong is a union of ……… vowel sounds to form a single sound.
A. one                B. two
C. three              D. four

54. The sign at the margin means
A. insert space           B. close up
C. run on                    D. let it stand

55. While typing, your eyes must always be on the
A. typewriter B. chalk board
C. teacher D. copybook

56. At the end of a particular period (weekly or monthly), all transactions that have been recorded in the journals will now be transferred to the
A. ledger             B. cashbook
C. diary               D. petty cashbook

57. When the ribbon selector is set at neutral, the ribbon is said to be
A. engaged             B. disengaged
C. engagement       D. disengagement

58. This is NOT an office equipment
A. typewriter
B. stock of goods
C. filing cabinet
D. perforator

59. The …… book is a ledger account
A. sales             B. purchase
C. cash             D. sales returns

60. Production services can be divided into two categories
A. extraction and manufacturing
B. manufacturing and construction
C. construction and extraction
D. commercial and direct

Answers to Question Number 51 – 60

51B.   52.C   53.B   54.A   55.D   56.A   57.D   58.B   59.C   60.C

SECTION B: Essay

1. (a) Briefly explain four duties of the personnel department
(b) Briefly explain each of the following insurance
(I) Vehicle (II) Burglary (III) Fire (IV) Marine

2. Transcribe into shorthand
(a) He will come to see us today
(b) Have you seen the book?
(c) Ede has no book to write
(d) Thank you for the food

3. (a) What is petty cash book?
(b) Enter the following transaction in a petty cash book using appropriate expenditure column
The amount of the imprest is N160.00
Date:
1st Jan. Postage stamps           N20
2nd Jan. Stationery                   N30
3rd Jan. Traveling expenses      N40
4th Jan. A. obi                           N50

4. (i) Explain briefly the general functions of a wholesaler.
(ii) Briefly explain the following terms:
(a) Assets (b) Double Entry (c) Stock (d) Gross Profit (e) Loan (f) Double line spacing (g) Carriage (h) Pitman’s

Conclusion

So, above are the 60 objective Questions you can expect in your 2024 BECE Business Studies examination. The essay questions are also given. Read them again and again. Ensure that you get very familiar with each of them such that you can readily recognize them any time.

Remember that you can ask for more detailed explanation to any of the above Junior WAEC 2024 Questions and Answers Business Studies in case you don’t fully understand it. Don’t be shy, just scroll down and use the comments section. Drop your questions and expect comprehensive answers as soon as possible.

More so, you can help us to reach others with this post by sharing it with friends on Social Media. Just scroll down to see the Facebook and Twitter and WhatsApp buttons. Thank you so much!

See you on the next article.

Read Also: Junior WAEC Time Table is Out