JSS1 BUSINESS STUDIES SECOND TERM SECOND CONTINUOUS ASSESSMENT TEST (CAT 2)
TIME: 40 minutes
INSTRUCTION: Answer all questions in Sections A and B.
SECTION A: OBJECTIVE TEST
NO. OF QUESTIONS: 20
SPECIFIC INSTRUCTION: Choose the correct answer from the options lettered A – D.
- The association of individuals with a common interest who pool together resources to promote the welfare of their members is known as (A) co-operative society. (B) joint venture. (C) limited liability company. (D) partnership.
- Which of the following is NOT a form of business organization? (A) Co-operative society (B) Partnership (C) Public limited company (D) Stock exchange market
- A one-man business can be called (A) partnership. (B) joint stock company. (C) sole proprietorship. (D) co-operative society.
- The person that contributes capital and does NOT take part in the running of the business is called ………… partner. (A) active (B) nominal (C) limited (D) sleeping
- An enterprise formed and owned by government in order to provide essential services is called (A) co-operative society. (B) public enterprise. (C) public limited liability company.
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