MARKING SCHEME FOR JSS1 BUSINESS STUDIES SECOND TERM CAT 2
SECTION A: OBJECTIVE TEST
ALLOCATION OF MARKS: ¼ mark each = 5 marks
SECTION B: ESSAY
ALLOCATION OF MARKS: 5 marks in total
1.(a) Bookkeeping is the art of recording business transactions in an orderly manner so that the books of accounts will reveal, at any time, the financial position of the business.
It is the systematic recording of the cash credit transactions in the appropriate books of account for easy monitoring of business transactions.
It is the recording of cash and credit transactions so that information relating to the transactions may be easily obtained.
(1 mark for any correct answer = 1 mark.)
1.(b) Four qualities of a good bookkeeper are:
- Decency
- Integrity
- Confidentiality
- Meticulous
- Accuracy
- Objectivity
- Orderly in presenting records
(¼ mark for each correct answer = 2 marks)
TOTAL = 3 MARKS
2.(a) Consumer: This is any person or corporate organization that buys goods and services for personal use and not for resale.
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