BUSINESS STUDIES J.SS2 2025 EXAM

1. The number of times a retailer replenishes stock is called -----

2. The balance after the expenses have been deducted is called -----

3. Total sales --- total costs gives---

4. The difference between the cost of goods and profit of doing business is called -----

5. The selling of goods by public biding is called -----

6. All these are buying procedures except

7. A quotation is an ---- of the cost of a service or commodityy

8. A book used to record expenses that are described as minor is called -----

9. Having the right attitude to work involves all except

10. The difference between the cost of sale of a good or service and the sales price is called ---

11. Expenses incurred when doing business during a given period of time is called ----

12. The business of buying goods in large quantities from manufacturers to sell in smaller quantities to retailers is called ---

13. The individual or organisation that provides the distribution service is known as the -----

14. Credit transaction in business means ----

15. Aperson who buys goods in small quantities and sells in bits to the final consumer is called a----

16. Net profit is discovered after preparing --- account

17. Cloth is better sold by ----

18. Traders who move their wares from place to place are called ........

19. The role of insurance in business is essential to ----

20. A document issued by the seller to the buyer as a proof that payment has been made is called ----

SUBJECTIVES

1. If a retailer replenish stock or buys stock every four months, turnover stock would be ---- times a year

2. Total sales minus total cost gives ----

3. The process by which services and products are moved from their manufacturing source to the consumers is called ----

4. Mention any two(2) types of retailers you know ----- and -----

THEORY (answer all the questions)

1. Retailer B bought the following items, 10 bags of rice at #10,000 per bag, 10 bags of salt at #4000 per bag. He/She sold each bag of rice at #12,000 and each bag of salt at #4500. He incurred selling expenses of #200 per each bag. calculate

a. Retailer B's sales total

b. What is his gross profit

c. Calculate his net profit

2. Retailer C's business during year shows that she purchased goods every three months and sold all of them. in the first quarter, he/she spent #120,000, in the second quarter she spent #150,000. in the third quarter she spent #180,000 in the fourth quarter she spent #250,000 on goods

a. What is retailer C's average stock turnover

b. How often does she turnover stock

3. Define the following terms

a. Mark-up

b. Buying by sample

c. Credit buying

d. Buying by inspection

b. Outline the procedures for buying good from a renowned company