Get BUS205 Exam Keynote now!
The exam practice questions and answers are good, but not good enough to help cement the A+ or grade B you deserve. Get the EXAM KEYNOTE and use it alongside the KEYNOTE now!
BUS205 EPQA S.S 2025
______ business is the oldest type of business in Nigeria.
a.All the options are correct
b.Joint partnership
c.Partnership
d.Sole trader
_____ contract is an informal contract.
a.Simple
b.Privy
c.none of the options
d.Functional
______ can be defined as an organization in which the jobs or functions to be carried out are clearly defined in order to achieve the target.
a.System organization
b.Administrative organization.
c.Management organization
d.Functional organization
Authority and responsibility is the right to command _____
a.Macines
b.Yourself
c.Work
d.Others
____accounting is found useful in business development because it helps management as a control measure.
a. Financial
b. Management
c. Taxation
d.Cost
______ consists of a number of firms.
a.Organization
b.Industry
c.Setup
d.Business
Every functional manager is limited by
a.Action
b.Function
c.Scope
d. Range
Authority that flows from higher levels to lower levels is known as
a.Chain of Authority..
b.Range of Command
c.Line of Duty
d.Call to Order
______ are things you wish you could have for instance you wish to have a jeep car, a job in NNPC, to be a governor.
a.Wants
b.Satisfaction
c.Scale of preference
d.Needs
___ factors are those factors you can manipulate to your advantage.
a.Small
b.Macro
c.Micro
d.Medium
____ between a seller and a buyer may be breached.
a.Contract
b.Agreement
c.Bond
d.none of the options
___(2005) define consideration as the price for which the promise is bought.
a.none of the options
b.Kurfi
c.kurt
d.Lewins
Fredrick Taylor carried out his study on how to improve productivity of workers in …..
a.Midvale Rolling Company
b.None of the options
c.Mimund Steel Company
d.Midvale steel company
A …..is one who is not actually a partner but who allows his name to be used in the partnership
a.Dormant partner
b.normal partner
c.Sleeping partner
d.Abnormal Partner
Fredrick Taylor carried out his study on how to improve productivity of workers in …..
a.None of the options
b.Midvale steel company
c.simund Steel Company
d.Midvale Rolling Company
_____ hazards refer to those physical characteristics that can enhance the possibility and severity of loss from a peril
a.None of the options
b.Internal
c.External
d.Artificial
…….concluded that business plays an important role in your life today and will play an increasingly important role in the future
a.Lukas et al (1997)
b.Chann et al (1997)
c.Eyimeh et al (1997)
d.Brown et al (1997)
Business enables employees gain access to
a.about the job training about the job
b.through the job training about the job
c.None of the options
d.on the job training about the job
In limited partnership, there is at least one ….. partner who has unlimited liability.
a.Ordinary
b.Sleeping
c.Dormant
d.Sole
A ……., by contrast, is responsible for many activities
a.Line Manager
b.senior manager
c.Functional manager
d.General Manager
Administration main functions include the formulation of broad objectives, …..
a.plans and policies
b.getting the work done through others
c.to achieve goals at all cost
d.None of the options
______ are necessities of life that you cannot do without them; theyinclude food, shelter and clothing.
a.Goods and Services
b.Wants
c.Materials
d.Needs
__ (2005) says specific goods are goods identify and agreed upon at the time of the sale.
a.lewins
b.Kurfi
c.lewins kurt
d.kurt
Advertising is paid _________.
a.invitation
b.promotion
c.awareness
d.publicity
_______describes Business is all of the activities of an individual or group of individuals in producing and distributing goods and services to customers
a.Brown et al (1997)
b.Brown et al (1995)
c.Brown et al (1998)
d.Brown et al (1996)
_______ decides what is to be done and when it is to be done
a.Management
b.opertions
c.Business
d.Administration
_________Can be described as a human resource
a.An accountant
b.education
c.Bank
d.Economics
______ debts are restricted to the amount of money contributed in running the business.
a.Dormant partner
b.Unlimited partnet
c.Limited partner
d.Ordinary partner
__________ are those features or conditions that can increase the cause of loss.
a. Hazards
b.Hazan
c.Haze
d.Hazel
Anyone who can sell goods to another person with the consent of the original owner is known as:
a.A Sellee
b.A Seller
c.A Contractor
d.An Agent
A ______is not just made in a day and finds its way to the store.
a.product
b.market
c.none of the options
d.goods
As a wage earner, you may want to gain——
a.Resuscitation
b.Reconciliation
c.Reconstruction
d.Recognition
In limited partnership, there is at least one ….. partner who has unlimited liability.
a.Sleeping
b.Dormant
c.Sole
d.Ordinary
_____ hazards refer to those physical characteristics that can enhance the possibility and severity of loss from a peril
a.External
b.None of the options
c.Artificial
d.Internal
Formation of _____ starts with preparation of documents
a.Partnership
b.None of the options
c.Sole Proprietorship
d.Joint Stock Company
__________ income is used to buy items to meet basic needs.
a.Non-discretionary
b.Discretionary
c.Non- disposable
d.Disposable
Benefits employees receive from businesses include the following except one.
a.Employees are proud to be their own owners of business.
b.Health insurance
c.The employee earns an income that enable him attend to personal problems like building a house or buying a car
d.Business could send the employee for training outside the organization to gain experience
….. advocates the use of computers and mathematical models in planning
a.Functional theories
b.management Science
c.classical theories
d.Behavioural theories
Administration main functions include the formulation of broad objectives, …..
a.to achieve goals at all cost
b.plans and policies
c.None of the options
d.getting the work done through others
After the Second World War, ……. were set up consisting of mathematicians, physicists and other scientists, who pooled their knowledge together to solve problems
a.Academic teams
b.Social science teams
c.Operational research teams
d.Management teams
As a ____ you have an effect on any services whether you patronize them or not
a.buyer
b.marketer
c.Consumer
d.businessman
Business activities does not neccesarily involve risks
a.FALSE
b.Somehow
c.Maybe
d.TRUE
______ debts are restricted to the amount of money contributed in running the business.
a.Dormant partner
b.Unlimited partnet
c.Ordinary partner
d.Limited partner
__________ are those features or conditions that can increase the cause of loss.
a.Hazel
b.Haze
c.Hazan
d.Hazards
________ are necessities of life.
a.Needs
b.Opportunity cost
c.Wants
d.Choice
_________Can be described as a human resource
Question 10Answer
a.Bank
b.An accountant
c.education
d.Economics
______ are things you wish you could have for instance you wishto have a jeep car, a job in NNPC, to be a governor.
a.Scale of preference
b.Needs
c.Wants
d.Satisfaction
________helps in job creations and produces goods and services.
a.Trade mark
b.Packaging
c.Branding
d.Business
Authority and responsibility is the right to command _____
a.Work
b.Yourself
c.Others
d.Macines
______ can be defined as an organization in which the jobs or functions to be carried out are clearly defined in order to achieve the target.
a.System organization
b.Functional organization
c.Administrative organization
d.Management organization
All ____ have to deal with governmental bodies.
a.sundry
b.organizations
c.businesses
d.stakeholders
A bare promise is not legally _______.
a.notice
b.agreed
c.confirmed
d.binding
______ business is the oldest type of business in Nigeria.
a.Sole trader
b.All the options are correct
c.Joint partnership
d.Partnership
A sole trader is owned by how many people?
a.Single
b.Quadriple
c.Multiple
d.Partner
____accounting is found useful in business development because it helps management as a control measure.
a.Taxation
b.Management
c.Cost
d.Financial
Every functional manager is limited by
a.Action
b.Scope
c.Function
d.Range
___(2005) define consideration as the price for which the promise is bought.
a.none of the options
b.Kurfi
c.kurt
d.Lewins
As the society develops, and things become more……, there is need for managers.
a.Complex
b.Doigital
c.Global
d.Functional
__________ income is used to buy items to meet basic needs.
a.Disposable
b.Discretionary
c.Non- disposable
d.Non-discretionary
After the Second World War, ……. were set up consisting of mathematicians, physicists and other scientists, who pooled their knowledge together to solve problems
a.Operational research teams
b.Social science teams
c.Academic teams
d.Management teams
In an organization a . is a combination of interrelated parts, for a common purpose under the same environment
a.synergistic
b.pragmatic
c.Systematic approach
d.Coordinated approach
Benefits employees receive from businesses include the following except one.
a.The employee earns an income that enable him attend to personal problems like building a house or buying a car
b.Business could send the employee for training outside the organization to gain experience
c.Health insurance
d.Employees are proud to be their own owners of business,,,,
A ……., by contrast, is responsible for many activities
a.Line Manager
b.Functional manager
c.senior manager
d.General Manager
A …..is one who is not actually a partner but who allows his name to be used in the partnership
a.normal partner
b.Sleeping partner
c.Dormant partner
d.Abnormal Partner
All the following are the classifications of contract except:
Question 2Answer
a.Bilateral Contract
b.MushroomContract
c.Implied Contract
d.Joint Contract
______ are always referred to as a king
a.sellers
b.buyers
c.Consumers
d.marketers
Anyone who can sell goods to another person with the consent of the original owner is known as:
a.An Agent
b.A Seller
c.A Sellee
d.A Contractor
_______ decides what is to be done and when it is to be done
a.opertions
b.Administration
c.Business
d.Management
_________Can be described as a human resource
a.An accountant…
b.Economics
c.Bank
d.education
Accounting data shows futuristic view of business
a.TRUE
b.Maybe
c.FALSE
d.Somehow
________ are necessities of life.
a.Choice
b.Wants
c.Opportunity cost
d.Needs
_________ are those features or conditions that can increase the cause of loss.
a.Hazards
b.Hazan
c.Haze
d.Hazel
As a ____ you have an effect on any services whether you patronize them or not
a.Consumer
b.marketer
c.buyer
d.businessman
______ consists of a number of firms.
a.Organization
b.Industry
c.Business
d.Setup
______ can be defined as an organization in which the jobs or functions to be carried out are clearly defined in order to achieve the target.
a.System organization
b.Administrative organization
c.Management organization
d.Functional organization
________helps in job creations and produces goods and services.
a.Branding
b.Packaging
c.Business
d.Trade mark
A bare promise is not legally _______.
a.binding
b.notice
c.agreed
d.confirmed
____accounting is found useful in business development because it helps management as a control measure.
a.Financial
b.Management
c.Taxation
d.Cost
For resources to be able to meet your needs, it must have an ttribute known as
a.Heat
b.Colour
c.Value
d.Vibration
____ between a seller and a buyer may be breached.
a.none of the options
b.Bond
c.Contract
d.Agreement
Goods can be sold under some special common _____.
a.guidline
b.label
c.notice
d.law
A sole trader is owned by how many people?
a.Quadriple
b.Single
c.Partner
d.Multiple
Get BUS205 Exam Keynote now!
The exam practice questions and answers are good, but not good enough to help cement the A+ or grade B you deserve. Get the EXAM KEYNOTE and use it alongside the KEYNOTE now!
1. Business wants to know your needs, wants, goals, values etc. Before they can _____ their goods to you
a) Purchase
b) Exchange
c) Sell
d) Produce
2. The people you elect into leadership position affects business activities of a _____.
a) Citizen
b) Country
c) Kingdom
d) State
3. Brown et al. In _____ says that business is all the activities of an individual or group of individuals in producing and distributing goods and services to customers.
a) 1997
b) 2005
c) 1919
d) 2025
4._____ of Association It tells you to about the regulations that are laid down for the internal rules and regulations of the government organization, and management of the company.
ANS. Article
5. A producer is a person who is involved in producing those goods and _____ for distribution.
a) service
b) purchase
c) want
d) production
6. Opportunity cost: this is what you give up on acquiring _____.
a) Wealth
b) Property
c) Wisdom
d) Something
7. _____ describes the process of product managers giving instructions to line workers, or top management giving instructions to product managers.
Ans. Line authority
8. Limited Liability Company by Guarantee business is for promotion of science, religion, arts, education, and not for profit making.
TRUE / FALSE
9. Denedo (2004) says a partnership is an association of two to _____ persons carrying on a business in common with the view of making profit.
a) Fifty
b) Thirty
c) Ten
d) Twenty
10. The statutory of management science can be traced back to after the _____ World War
a) Third
b) Fourth
c) Second
d) Last
11. The type of organization which you have direct authority over your respective subordinates through chain of command is known as _____
a) Line organization
b) Business organization
c) Organizational line
d) All the above
12. Wilkson et al ______ sees a functional manager as responsible only for a single area of activity, such as production, finance or personnel.
a) 1994
b) 2025
c) 2021
d) 3032
13. _____ therefore turns raw or processed goods into finished goods.
a) Businessmen
b) Market women
c) Producers
d) Manufacturer
14. According to _____ in 1997, Manufactures are business set up to carry out the activities involved in making finished goods out of processed goods
a) Brown
b) Wilkson
c) Hartzel
d) None of the above
15. Functional authority is the type of authority or power held by _____, wherein they assign an employee for a particular period to accomplish a given task.
a) Managers
b) Senior employees
c) Staffs
d) Company
16. Market share is the percentage of an industry’s sales that a particular company owns.
TRUE / FALSE
17. A _____ is that business that buys goods from a wholesale and resell them directly to the final consumer
a) Wholesaler
b) Final consumer
c) Retailer
d) Producer
18. _____ goods are those products that are produced and ready for the market.
Ans. Finished
19. _____ creates opportunities for a company to increase consumer satisfaction and thereby gain competitive advantage over others.
a) Organization
b) Producer
c) Technology
d) Information
20. In Line organization _____ flows from top to bottom
a) Authority
b) Power
c) Sanction
d) Cohesion
21. All but one is not a characteristic of business
a) Exchange
b) Profit motive.
c) Dealing in goods and services.
d) All the above
22. _____ is defined as “everything the customer receives that is of value in terms of a perceived want, need or problem,”
Ans. Product
23. The way products are packaged strongly influences managers as a lot of thought goes into the packaging.
TRUE / FALSE
24. _____ is verbal communication in which your speech organs are
used to produce sounds.
a) Sound
b) Communication
c) Speech
d) All the above
25. Brown 1997 says a small business is an independently owned and managed business that serves a limited _____ area and it is not dominant in its industry.
a) Community
b) Town
c) Country
d) Geographic
26. A _____ averse person has a strong dislike for risk and as such will do
everything possible to avoid the risk.
Ans. Risk
27. A peril may be defined as a contingency, which may cause a _____.
a) Profit
b) Loss
c) Gain
d) Nothing
28. _____ is what is paid in exchange for the product (goods) received or
service enjoyed.
a) Money
b) Cash
c) Price
d) tangible
29. Consumers are always referred to as a _____.
Ans. King
30. _____ mean anything you can use to value or obtain, what you need and want
a) Goods
b) Resources
c) Business
d) Service
31. If you decide not to buy any product, you have made _____ decision.
a) Wise
b) Brilliant
c) Good
d) Business
32. Frank Gilbreth 1879 – 1972 and Lillian Gilbreth 1879 – 1972 study is popularly known as _____ and motion studies
a) Speed
b) Time
c) Second
d) Space
33. If a company is liquidated, they loose only the _____ they have in the company.
a) Products
b) Shares
c) Staff
d) Items
34. In a company someone will be in charge of organizing people and machines as to provide products is referred to as _____
Ans. Organizing
35. A functional authority is a limited form of _____ authority
a) Personal
b) Individual
c) Line
d) All the above
36. The theory attributed to Henry Taylor in 1841-1925, who sees his success as a mining engineer with a French coal and iron company because he applies management principle, rather than personal qualities, is the _____
Ans. Organizational theory
37. ______ is a person who enters business working for him/herself.
a) Entrepreneur
b) Business owner
c) CEO
d) Sole trader
38. We have _____ kinds of partners
a) Four
b) Two
c) Five
d) Three
39. Any items, materials and consumable substances which are sold to the consumers, companies and government agencies is known as _____
a) Finished goods
b) Goods
c) Products
d) Commodity
40. Every business concern must be able to carry out its market _____ to control, aid sale its product to.
a) Profit
b) Loss
c) Survey
d) Share
41. _______It is defined as an organization in which line authority, staff authority and
functional authority exists together.
ANS. FUNCTIONAL ORGANIZATIONS
42. You can classify administrative organization into _____:
a) Three
b) Four
c) Two
d) Five
43. Business tries to find out what is good for the consumer, so that _____ will reach out to each other
a) Goods
b) Stock
c) Products
d) Businesses
44. If there is no one to _____ finance, human resources and production, the company can‟t go on smoothly.
a) Monitor
b) Control
c) Manage
d) Supervise
45. Fredrick Taylor He rose to a management position in a rolling mill at age _____.
a) 31
b) 45
c) 25
d) 51
46. Management science is more useful in planning and business
TRUE / FALSE
47. In Nigeria, it is one of the commonest types of business you see around seen in villages and cities.
a) Sole trading
b) Business
c) Wholesaler
d) Producer
48. You can’t know what business is except you know some basic _____
a) Idea
b) Strategy
c) Concepts
d) amount
49. Administration is basically a policy and decision-making function
while the management is an executive function.
TRUE / FALSE
50. We have principally _____ types of partnership
a) Three
b) Four
c) Two
d) Five
Get BUS205 Exam Keynote now!
The exam practice questions and answers are good, but not good enough to help cement the A+ or grade B you deserve. Get the EXAM KEYNOTE and use it alongside the KEYNOTE now!
Am grateful sir
Thank for the feedback.