This is for BECE Candidates looking for Junior WAEC 2027 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 2027 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 forthcoming paper. Remember to use the comments sections if you have questions, and don’t forget to join our Free Online BECE Tutorials on YouTube (Subscribe to the Channel)
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What are Junior WAEC 2027 Questions and Answers Business Studies?
Junior WAEC 2027 Questions and Answers Business Studies are the questions you should expect in your Business Studies paper in 2027 BECE, together with their answers.
It is very important that every candidate preparing to sit for Business Studies in the forthcoming 2027 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.
Junior WAEC 2027 Business Studies Questions and Answers Revealed!
On this page, we shall reveal Junior WAEC 2027 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 burning 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 2027 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 2027 within 2 hours. So it’s important that you pay attention to the information revealed on this page.
Junior WAEC 2027 Questions and Answers Business Studies [Numbers 1 – 10]
1. The total investment in a business is called __________
A. capital
B. asset
C. warehouse
D. business centre
2. Traders who sell their goods from place to place are called __________
A. hawkers B. advertisers
C. sellers D. retailers
3. The place or room set aside in an organization where clerical activities are carried out is called __________
A. computer B. office
C. department D. kitchen
4. The person a visitor sees immediately he enters an office is called the __________
A. cleaner B. director
C. receptionist D. messenger
5. The following are the various departments in an organization EXCEPT?
A. Mobile department
B. Purchasing department
C. Accounting department
D. Administrative department
6. The quality of being honest and open in all aspect of one’s living is called __________
A. Truthfulness B. Prayerfulness
C. Carefulness D. Watchfulness
7. Modesty means __________
A. being humble and respectful
B. boasting about oneself
C. being rude
D. ignoring others
8. Which of the following factors of production is considered a capital?
A. Workers in a factory
B. Machines and equipment used for production
C. Natural resources like water and land
D. Entrepreneurs
9. What is the primary role of the reception office in an organization?
A. Keeping the payroll
B. Welcoming and directing visitors
C. Marketing goods and services
D. Managing conflicts
10. While attending to visitors, the question appropriate for a receptionist to ask is:
A. Why are you here?
B. Who are you looking for?
C. Can I help you, please?
D. Where are you going?
Answers to Question Number 1 – 10
1.A 2.A 3.B 4.C 5.A 6.A 7.A 8.B 9.B 10.C
Junior WAEC 2027 Questions and Answers Business Studies [Numbers 11 – 20]
11. The buying and selling of goods within the country is known as __________ trade.
A. foreign B. entreport
C. home D. external
12. The process of arranging documents in an orderly manner so as to keep them safe is known as __________
A. grouping B. sorting
C. binding D. filing
13. A place where goods, raw materials, equipment and finished products are kept is called __________
A. house B. store
C. office D. quarters
14. What a person does as a means of livelihood is known as __________
A. work B. commercial
C. trade D. occupation
15. A business organization established, owned, financed and controlled by one person with the aim of making profit is known as __________
A. sole proprietorship
B. partnership
C. cooperation
D. limited liability
16. By law the number of person that could form a partnership business is __________ persons.
A. 2 – 7 B. 7 – 20
C. 5 – 20 D. 2 – 20
17. The fastest and most expensive mode of transportation is by __________
A. road B. train
C. air D. boat
18. The book used to record minor expenses is called __________ book.
A. journal B. petty cash
C. sales D. purchases
19. Owners of limited liability companies are called __________
A. Sole proprietors
B. Partners
C. Owner of business
D. Share holders
20. A person in Aba transacting with a person in USA is engaged in what type of trade?
A. Home trade
B. Foreign trade
C. Town trade
D. None of the above
Answers to Question Number 11 – 20
11.C 12.D 13.B 14.D 15.A 16.D 17.C 18.B 19.D 20.B
Junior WAEC 2027 Questions and Answers Business Studies [Numbers 21 – 30]
21. The term “Limited Liability” means that a person will lose __________
A. Only what he invested in the business
B. His personal belonging and his investment
C. What he saved because he is reliable
D. Nothing if the business fails
22. Which of these business organisations can offer its shares to the public?
A. Sole proprietorship
B. Partnership
C. Private Limited Liability Company
D. Public Limited Liability Company
23. The arrangement of ones want according to how important they are is known as scale of __________
A. need B. preference
C. want D. choice
24. The reward for entrepreneur as a factor of production is __________
A. rent B. capital
C. profit D. wages
25. The first source of information from which the bookkeeper prepares his accounts are gotten from the __________
A. Source documents
B. Accounting documents
C. Filing document
D. Transaction document
26. The process of moving goods from manufacturer to the final consumer is called __________
A. distribution B. marketing
C. selling D. exchange
27. Good communication helps to __________
A. cause misunderstanding
B. create confusion
C. promote understanding
D. increasenoise
28. The process of interpreting a message is __________
A. encoding B. feedback
C. decoding D. channeling
29. The first person in the channel of distribution is the __________
A. retailer B. wholesaler
C. consumer D. producer
30. Production is said to be incomplete until the goods reach the __________
A. retailer
B. wholesaler
C. final consumer
D. manufacturer
Answers to Question Number 21 – 30
21.A 22.D 23.B 24.C 25.A 26.A 27.C 28.C 29.D 30.C
Junior WAEC 2027 Questions and Answers Business Studies [Numbers 31 – 40]
31. The reward for land is __________
A. rent B. profit
C. interest D. wages
32. Which of the following is a current asset?
A. building
B. motor vehicle
C. cash at hand
D. furniture
33. Gross profit less all expenses __________
A. new profit
B. net profit
C. interest
D. remuneration
34. The activities that help to facilitate the distribution of goods and services are these EXCEPT __________
A. trade B. banking
C. farming D. communication
35. An insurance policy that deals with breaking, entering and stealing from a house or shop is known as __________ insurance.
A. marine B. fire
C. vehicle D. burglary
36. The wholesaler and the retailer are known as the __________ in the channel of distribution.
A. helpers B. supporters
C. middlemen D. foremen
37. ATM is an abbreviation for __________
A. Automatic Teller Machine
B. Automated Teller Machine
C. Authority Teller Machine
D. Automatic Talking Machine
38. Which account holder is issued a cheque for withdrawals and payment?
A. Fixed deposit B. Savings
C. Current D. Recurrent
39. Which of these cheque is more secured in case of loss/misplacement?
A. crossed B. closed
C. open D. stamped
40. The wholesaler buys goods in large quantity and sells in small quantities to the __________
A. agent B. consumer
C. retailer D. producer
Answers to Question Number 31 – 40
31.A 32.C 33.B 34.C 35.D 36.C 37.B 38.C 39.A 40.C
Junior WAEC 2027 Questions and Answers Business Studies [Numbers 41 – 50]
41. The payment made to an insurance company for the services rendered is known as __________
A. indemnity B. cover note
C. premium D. policy
42. A cheque which the bank refused payment is known as __________ cheque.
A. state
B. outdated
C. dishonoured
D. open
43. The aid to trade that helps business men and women to bounce back after a loss is known as __________
A. banking
B. insurance
C. warehousing
D. tourism
44. Anything of value that is owned by a business is called __________
A. credit B. asset
C. debit D. account
45. Stock taking is the process of __________
A. buying goods
B. counting goods available in store
C. selling goods
D. advertising goods
46. Any work or job that somebody performs in order to earn a living is called __________
A. Market B. Labour
C. Occupation D. Commerce
47. Producer → Agent → Wholesaler → Retailer → Consumer is one of the __________ of distribution.
A. link B. channels
C. sources D. parts
48. The type of advertising in which one tries to convince his audience about the need to possess or buy the product at all cost is called __________ advertising.
A. informative B. competitive
C. mass D. persuasive
49. Which of the following is a modern means of communication?
A. Facebook
B. Talking drum
C. Town crier
D. Gong
50. Which of the following is the most common means of transportation in Enugu State?
A. Water transportation
B. Air transportation
C. Rail transportation
D. Road transportation
Answers to Question Number 41 – 50
41.C 42.C 43.B 44.B 45.B 46.C 47.B 48.D 49.A 50.D
Junior WAEC 2027 Questions and Answers Business Studies [Numbers 51 – 60]
51. The full meaning of GSM is __________
A. Got Short Message
B. Glo Service Mobile
C. Get Sound Message
D. Global System for Mobile Communication
52. The two commonly used paper sizes are A5 and __________
A. A3 B. A4
C. A6 D. B3
53. A petty cashier received ₦10,000 as imprest, he spent ₦8,000 from it, how much will he be reimbursed?
A. ₦2,000 B. ₦6,000
C. ₦8,000 D. ₦10,000
54. The estimate of income and expenditure during a particular period is known as __________
A. personal finance
B. capital
C. income
D. budget
55. A cheque that carries two lines on its face is called __________ cheque.
A. open B. good
C. crossed D. bank
56. The financial remuneration paid to full time employee every mouth is called __________
A. wages B. salary
C. payroll D. payslip
57. The original amount given to the petty cashier is called __________ or float.
A. loan B. imprest
C. credit D. cash out
58. The fastest and convenient means of communication between the caller and the receiver is called __________
A. postage B. television
C. radio D. telephone
59. The system of sending and receiving information from one individual or organization to another is called __________
A. disputation
B. communication
C. specification
D. controversy
60. WWW stand for __________
A. World Wide Web
B. Wide World Web
C. Web Wide World
D. World Web Wide
Answers to Question Number 51 – 60
51.D 52.B 53.C 54.D 55.C 56.B 57.B 58.D 59.B 60.A
SECTION B – ESSAY
Answer all the questions
QUESTION 1
a. Explain the term partnership
b. Outline two (2) advantages of partnership
c. State two (2) disadvantages of partnership
QUESTION 2
a. What is communication?
b. Explain four (4) modern means of communication
QUESTION 3
a. What is transportation in commerce?
b. State two (2) importance of transportation
c. Explain two (2) basic means of transportation
QUESTION 4
a. Define office
b. List four (4) department in an organisation
c. Enumerate four (4) functions of an office
Summary of Answers to the Objective Section of 2027 Junior WAEC Questions on Business Studies
| Q.No | Ans | Q.No | Ans | Q.No | Ans |
|---|---|---|---|---|---|
| 1 | A | 21 | A | 41 | C |
| 2 | A | 22 | D | 42 | C |
| 3 | B | 23 | B | 43 | B |
| 4 | C | 24 | C | 44 | B |
| 5 | A | 25 | A | 45 | B |
| 6 | A | 26 | A | 46 | C |
| 7 | A | 27 | C | 47 | B |
| 8 | B | 28 | C | 48 | D |
| 9 | B | 29 | D | 49 | A |
| 10 | C | 30 | C | 50 | D |
| 11 | C | 31 | A | 51 | D |
| 12 | D | 32 | C | 52 | B |
| 13 | B | 33 | B | 53 | C |
| 14 | D | 34 | C | 54 | D |
| 15 | A | 35 | D | 55 | C |
| 16 | D | 36 | C | 56 | B |
| 17 | C | 37 | B | 57 | B |
| 18 | B | 38 | C | 58 | D |
| 19 | D | 39 | A | 59 | B |
| 20 | B | 40 | C | 60 | A |
Answers to 2027 Junior WAEC Theory Questions on Business Studies
Question 1
a. Explain the term partnership
Partnership is a form of business organisation in which two or more persons agree to own, finance and manage a business together with the aim of making profit.
b. Outline two (2) advantages of partnership
- It provides more capital because the partners contribute money to the business.
- The partners can combine their skills, knowledge and experience in running the business.
c. State two (2) disadvantages of partnership
- Disagreements may arise among the partners and affect the business.
- Partners may have unlimited liability for the debts of the business.
Question 2
a. What is communication?
Communication is the process of sending and receiving information, ideas or messages from one person or organisation to another.
b. Explain four (4) modern means of communication
- Telephone: It enables people to communicate directly with one another over a distance through voice calls.
- Email: It is an electronic means of sending and receiving messages and documents through the internet.
- Social media: Platforms such as Facebook, WhatsApp and X allow people to exchange messages, pictures, videos and other information quickly.
- Video conferencing: It allows people in different locations to communicate with one another through live audio and video over the internet.
Question 3
a. What is transportation in commerce?
Transportation in commerce is the movement of people and goods from one place to another for the purpose of facilitating business activities.
b. State two (2) importance of transportation
- It facilitates the movement of goods from producers to consumers.
- It enables people to move from one place to another for business and other activities.
c. Explain two (2) basic means of transportation
- Land transportation: This involves the movement of people and goods on land by means such as cars, buses, lorries, motorcycles and trains.
- Water transportation: This involves the movement of people and goods through rivers, lakes, seas and oceans using boats and ships.
Question 4
a. Define office
An office is a place or room in an organisation where clerical and administrative activities are carried out.
b. List four (4) departments in an organisation
- Accounting Department
- Purchasing Department
- Sales and Marketing Department
- Administrative Department
c. Enumerate four (4) functions of an office
- Receiving and distributing information.
- Keeping and preserving business records and documents.
- Receiving and attending to visitors and customers.
- Preparing and processing business correspondence and documents.
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