| Aggregate direct is knonw as |
| Sunk costs are….. |
| Which of the following works with the assumption that current cost levels or planned cost levels are too high, even though cost control might be good |
| Given a budegeted overhead of N225,000 and direct labour hours of 450,000, the overhead absorption rate will be… |
| If sales is N80,000 and variable costs N60,000, the contribution margin ration is… |
| The Economic Order Quantity is the order size that results in orderin costs equaling….. |
| Insurance of a factory would be classified as |
| Which bonus scheme suggests that the bonus award to the employee is the proportion between time taken and time allowed of the time saved. |
| The process of assigning overhead costs to products or services produced is called…… |
| The ration of operating profit to fixed interest is called |
| Which of the following is an activity ratio? |
| Given that sales is N25,000, Variable sost is N15,000 and fixed cost is N100,000. The break-even point in value is |
| One of the following is an objective of cost analysis |
| What type of standrad represents an old established standard designed principally to satisfy a given objective |
| The cost of an asset acquired three months ago is a good example of |
| Process costing is |
| If the total factory overhead for the period was N100,000 and the total machine hours used was 80,000 hours. The overhead absorption rate will be… |
| One of the following is a method of re-apportioning overheads |
| An employee is paid N100 per hour and he was able to save 4 hours in the course of production. What is his bonus using the Halsey Bonus System? |
| What is the minimum stock level required given that the Re-order level is 50, 000 units, Average usage is 12, 000 units and an average lead time of 2 days. |
| The accounting concept that supports separation of business records from that of the owners is called…………………………………………. |
| A document sent by the seller if the buyer has been undercharged on the invoice is called |
| The book of original entry for recording motor car purchased on credit is ……………………………… |
| An expenditure on repairs made to building is classified as……. |
| When a business owner withdraws cash from the business for private use, the accounting entries are………………… and ……………………. |
| The two accounts involved when an owner introduces his/her personal car into business are ………………………… and ………………….. |
| Motor vehicle can be classified under….. |
| ABC enterprise paid N500 for Travelling expenses by cash. The account to be debited is………………… |
| Cheques collected from customers by the treasurer of a company but lodged with the bank after the closure of accounting books for the month will be classified as…………………………………………………………………… |
| The accounting entries for goods sold for N501,000 cash are.. |
| A cheque payment posted to the credit side of the cash book, but not in the debit column of the bank statement, is |
| In which of the following ledgers can data relating to discount be found? |
| The Account to be credit when equipment acquired by cash is ……………………….. |
| The accounting entries for good returned by a customer are…… |
| What type of balance does an liability account maintains? |
| An Increase in asset is entered on ………. side of the account |
| Commission received is classified under |
| The Accounting Equations is given by….. |
| A legal obligation to transfer assets or provide services to another entity that arises from some past transaction or event is called |
| Another name for Ownership interest is |
| In financial accounting, |
| Which of the following is a book of prime entry? |
| Sales Day Book is best described as |
| A credit balance of N5,000 in the petty cash book would mean that |
| …………..Concept makes a distinction between the receipt of cash and the right to receive it, and the payment of cash and the legal obligation to pay it |
| the systematic recording of the facts that show the position of a business is referred to as |
| An increase in capital account will require….. |
| All expenses maintain …………..balances |
| What is the accounting principle that states ‘’Anticipate no profit and provide for all possible losses‘’?…………………………………………………. |
| When goods are sold on credit, what is the effect of such transaction? |
| At classroom level, a teacher can solve the problem of instructional resources through… |
| …entails making efforts to help students make connections to previous learning. |
| Evaluation process which is conducted as the lesson is in progress is described as… |
| Three major issues shaping the development of nations worldwide, are Entrepreneurship Education, Information and Communication Technology (ICT) and… |
| All these are curriculum development agencies in Nigeria except… |
| The … translates the curriculum into learning experiences to be passed across to learners. |
| All these are the communication functions of STAN except… |
| …encourages, promotes and co-ordinates educational research programmes carried out in Nigeria. |
| Curriculum …refers to changes and improvements made to the overall plan of studies that a school is making use of in its education of students |
| A good… is a product of well formulated objectives, learning experiences, relevant learning resources and workable evaluation procedures. |
| …has always been he most distinctive feature of science instruction. |
| Assessment of students’ practical work should take into cognizance these domains of behavioral objectives except… |
| All science laboratorie should be sited in a block to accommodate … of facilities, services and human resources. |
| Any work involving noxious fumes must be carried out in a. .. |
| Accidents may occur in the laboratory due to lack of… |
| All these are fire-fighting equipment in the laboratory except… |
| To protect your eyes from splashes of chemicals or fragments of dust or glass, you need to wear… |
| There is need to have rules and regulations to ensure … in the laboratory |
| You should always put on… while mixing or transferring toxic, radioactive, carcinogenic and corrosive substances. |
| Check that all bunsen burners are put off and there are no naked flame before using … solvents/substances. |
| …is the immediate treatment/care given to a victim of an accident or sudden illness until professional medical assistance is available. |
| First aid is given to achieve all these objectives except… |
| A report of the first aid you provided must be given to the… |
| The following but one, are suggested minimum contents of a first aid box: |
| Old or obsolete instruments in the laboratory should be… |
| All but one are the duties of a laboratory assistant: …. materials before the practical exercises. |
| Each cupboard should bear a general… indicating the type of apparatus it contains. |
| Sodium MUST not be stored in… |
| Volatile, toxic or combustible chemicals should be marked with … to indicate danger. |
| ….is an important factor to be considered in the storage of items in the laboratory. |
| The first student laboratory was built in Britain in the Royal Technical College in 1930 by… |
| Prior to 1930, eminent scientists converted their homes to… for purposes of demonstrations to students interested in science. |
| Most often, … aspect of the laboratory work is neglected by science teachers. |
| All but one of these places help pupils learn what science is. |
| Weather, proximity , student’s distraction and over crowdness of the school timetable are some problems of… |
| The laboratories should be sited at the… of the college to ease Expansion and prevent danger. |
| Acids must be stored in cupboards having good … to the outside air. |
| Science teachers havel… duties to ensure that their students in the school laboratories are kept safe. |
| ….rules are very important in the science laboratory |
| Students should not be allowed to work alone in the laboratory without … |
| An _______________ is a sole trader. |
| Collateral is usually a request of the___________ bank. |
| ___________ is an amount of money lent to a customer by a bank. |
| _______________ is the property pledged as a guarantee for the repayment of a loan. |
| _____________________ refers to the sector of the economy that is not categorized under the range of operation of the organised economic activities. |
| The implementation of the additional services will be enhanced by the newly introduced ____________________ |
| The _______________are mostly small or micro business owners who are mostly in the informal sector. |
| The financial need of __________________ very low. |
| Micro Finance_________________ look beyond credit provision |
| The _________________ of the additional services will be enhanced by the newly introduced Micro Finance Institutions (MFIs) |
| Micro credit of micro finance is not a new package of__________ to the Nigeria people. |
| __________ is a very important aspect of the scheme. |
| Loans are granted without________procedures and the cost of transaction is therefore reduced. |
| Ajo’ encourages the development of the habit of ______________. |
| ______________ is a system whereby every member contributes some money periodically. |
| Lack of Proper Record Keeping – Informality is a key feature of_____________ and credit schemes. |
| The savings and _____________ has been existing before the advent of the |
| Existing _________________and regulation do not accord indigenous credit groups any recognition. |
| The expansion of _______________ is limited because of the informality of organisational structure, and procedures. |
| Ajo’ · Encourages ___________________ |
| Personal savings can be referred to as equity or the private money you put into your business. |
| Owner’s equity is called _______ capital |
| Investing your own money in your business is a risk but it shows that you believe in your own business idea and that you have been ________ with what you have. |
| The ____________ is evidence that you have enough faith in your business to risk your own savings on it. |
| ___________ is a medium term finance where the buyer is given an asset after he has paid a deposit |
| _______________participation shows that a businessman has faith in his business and that makes it easier for him to have financial assistance from individuals and corporate organisations. |
| The business man can also source for ________ from friends, the business itself |
| There are many _______ of funds available to the business man. |
| the ________ will hold on to the title of the asset while the buyer will take possession of the asset. |
| _______ make it compulsory for those buying goods from them to deposit some amount of money before they can collect goods from them. |
| All are the assumptions about Science except… |
| The principle of … indicates that nature is expected to show variation and change that is dynamic and not static. |
| ….principle believe that every phenomenon results from a discoverable cause. |
| …is a subject that could be used to explain most natural phenomena including the food we eat and how they are processed in our body. |
| ….wrote about the conflict of science and superstition in Nigeria |
| …. substituted induction with hypothetico-inductive model. |
| In science hypotheses are formulated and … |
| A single negative instance is sufficient to establish the… of a hypothesis |
| Thomas Kuhn is concerned with the analysis of how … behave normally and not how they ought to behave. |
| It is advisable for teachers to mix all the proposed methods in order to achieve their desired… |
| Investment is also recognized as the _________ of financial resources towards enhancing a person’s income or increasing the level of earnings from invesible products in the future |
| An investment Involves _____________ of funds in acquisition of financial assets |
| The fundamental purpose of investment is to generate ______________ |
| Safety of investment can only be guaranteed if is done in financial products such as __________ and __________ with high networth |
| _____________ means the ease with which an investment can be converted into cash. |
| _______________ refer to money market financial instruments that are easily convertible to physical cash |
| ___________ are obligations of the government |
| A ___________ refers to a financial product which has its value dependent on the outcome of the original financial product as investment by the managers of the funds. |
| __________ involves investment in buying or building houses, apartments and other landed property with the purpose of leasing them out. |
| ________ refers to short term debt obligation that is taken by the government through the apex bank |
| The values of science that must be taught include all these except… |
| It is necessary for the citizens to acquire scientific literacy as avenue towards… |
| … requires that supporting data be made public and that new empirical tests be invented to assess the validity of a finding. |
| …was introduced into the curriculum of secondary schools in Nigeria in 1859. |
| The colonial government was most… to encourage the teaching of science in the schools. |
| All these are teacher-based factors which influence the quality of learning except… |
| The … is the teacher’s audience. |
| Science subjects have their own peculiar … |
| The word … is a special name for scientific guess. |
| …has to instruct, supervise and also manage resources. |
| Formulating business idea is very time-consuming which goes through ___________ |
| ________ is regarded as the key stage in the new venture process. |
| ________ involves establishing the management structure of the venture with which to steer the affairs and ensure success and profitable operations of the business. |
| The_____________ constitutes the driving force for the recognition of a venture idea |
| Another important responsibility of the entrepreneur in venture creation involves the packaging a detailed ____________for the venture. |
| A crucial responsibility of the entrepreneur in venture creation involves generating the needed _____________ resources for the new venture |
| Another crucial responsibility of the entrepreneur in venture creation involves the_____________of the new venture. |
| ___________ refers to an action initiated for starting business venture with the intent of filling the gap between an initiative and a “capitalized business. |
| The initial or seed money, as opined by __________ is normally required for market research, product development, and building management infrastructure. |
| The _________ has the onerous task of taking decisions on the future potentials of the business which enables him to project the future growth and development. |
| __________buys undervalued securities while he sells overvalued ones out of his investment portfolio in the capital market. In |
| __________ is regarded as one of the basic building blocks of a solid portfolio. |
| In finance, the major benefit from investment is the return on the __________invested |
| A value investor buys undervalued securities while he sells overvalued ones out of his investment ______in the capital market. |
| Investment __________ is regarded as one of the basic building blocks of a solid portfolio. |
| These are ______________ risk and unsystematic risk. |
| The ________risk is specific to a company, industry, market, economy or country; it can be reduced through diversification. |
| the aim of diversification is to invest in various_____ so that they will not all be affected the same way by market events. |
| Portfolio ____________is achieved by placing a larger percentage of high return investments in a diversified portfolio. |
| Investment involves allocating your fund or money in ___________ securities |
| Science, engineering and technology are … but distinct enterprises. |
| “Science†begins in the real sense, with … |
| …deals with the tools and techniques of producing the end products of scientific endeavour. |
| …is another barrier to inter-communication in science and technology |
| Teacher does most of the talking while the pupils remain passive listeners during… |
| …is when two or more teachers jointly share the responsibility for directing and evaluating of the learning experiences of a common group of students. |
| …method of teaching is teaching in which learners try to find out things for themselves. |
| A more fruitful way to state… is in terms of the outcomes we expect from our teaching. |
| Classroom crisis should be effectively managed by the … |
| …plays an important function in the teaching of chemistry |
| An operating lease is similar to a finance lease in all respect except that………. |
| Cash management is primarily not concerned with……………………. |
| Choose the odd one out |
| The term “Capital structure” refers to …… |
| A project has a cost of =N= 35,000 and its expected net cash inflows are =N= 9,000 per annum for six years. If the cost of capital is 12% calculate the project’s Net present value |
| Insurance company is an example of ……………………… |
| Femi Nig.Plc has issued 20% of =N= 1000 debenture currently selling at =N= 800.The maturity of the debenture will be 5 years and the tax rate is 30%.Calculate the cost of debt |
| An investor has identified a three year investment paying 11% per annum.If he invests N850, how much will his investment be worth at the end of the 3years? |
| ….. Analysis is when current calculated ratios are compared with past financial ratios calculated for the same firm over a period of time |
| When a firm takes over or merges with a company in the same industry & at same level, it is known as |
| A firm’s degree of operating leverage (DOL) depends primarily upon its……… |
| A decision that is concerned with the management of stocks and creditors is called…… |
| ……. Occurs if a business is trying to support large volume of trading with little long term capital at its disposal |
| For long term solvency and stability ratio, choose the odd one out |
| ….. Is used as a discount rate in determine the present value of future cash flows associated with capital projects |
| A firm’s degree of total leverage(DTL) is equal to its degree of operating leverage…….. Its degree of financial leverage(DFL) |
| ……………….. Is the most diversified of the financial institutions |
| Divestiture means |
| An investor has identified a three year investment paying 11% per annum.If he invests N850, how much will his investment be worth at the end of the 3years? |
| A project has a cost of =N= 35,000 and its expected net cash inflows are =N= 9,000 per annum for six years. If the cost of capital is 12% calculate the project’s payback period to the nearest year |
