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OFFICE MANAGEMENT ANSWERS (TYPE A)
SECTION A: ANSWER ALL QUESTIONS
(1)
(i) To ensure easy retrieval of information when needed.
(ii) To preserve important documents for future reference.
(iii) To support decision-making by providing accurate records.
(iv) To comply with legal and regulatory requirements.
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(2)
(i) Leadership skills: ability to guide and motivate staff.
(ii) Organizational skills: ability to manage office resources efficiently.
(iii) Communication skills: clear and effective interaction with staff and clients.
(iv) Decision-making ability: making timely and appropriate choices.
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(3)
(i) Provides clear chain of command through line relationships.
(ii) Allows specialized advice from staff experts without disturbing the main line of authority.
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(4)
Departmentalization is the process of dividing an organization into smaller units or departments based on functions, products, geography, or other criteria to improve efficiency.
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(5)
(i) Provides funds to start and operate the business.
(ii) Facilitates purchase of assets and resources needed for production.
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(6)
Total utility is the total satisfaction or benefit a consumer derives from consuming a given quantity of goods or services.
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(7)
(i) Representativeness: the sample should reflect the characteristics of the population.
(ii) Sample size: it should be large enough to ensure accurate results.
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(8)
(i) Share capital: money raised from issuing shares.
(ii) Retained earnings: profits reinvested in the business.
(iii) Debentures: long-term loans from investors.
(iv) Bank loans: funds borrowed from financial institutions
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(9)
(i) Ensures representation of all sub-groups within the population.
(ii) Provides more accurate and reliable results compared to simple random sampling.
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(10)
(i) Questionnaires: collecting information directly from respondents.
(ii) Interviews: obtaining firsthand information through direct questioning.
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SECTION B
OFFICE ADMINISTRATION
INSTRUCTION: ANSWER TWO QUESTIONS ONLY FROM THIS PART.
(11a)
Job description explains the duties, responsibilities, and scope of a particular job, while job specification states the personal qualities, skills, qualifications, and experience required from the person who will perform the job.
(11b)
(i) Employment agencies: These are government or private organisations that help employers find suitable candidates by keeping a database of job seekers.
(ii) Advertising in the media: Vacancies are announced through newspapers, radio, television, and online platforms to attract a large number of applicants.
(iii) Educational institutions: Employers visit universities, polytechnics, and technical schools to recruit fresh graduates through career fairs and campus interviews.
(iv) Employee referrals: Existing employees recommend relatives or friends who are qualified for available positions, helping the organisation get trustworthy candidates.
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(12a)
(i) According to urgency: Mails are grouped based on how quickly they need attention. Urgent mails such as express letters and telegrams are treated immediately, while ordinary mails can be handled later.
(ii) According to source: Mails are classified as internal and external. Internal mails originate from within the organisation, while external mails come from customers, suppliers, or other organisations.
(iii) According to subject matter: Mails are arranged based on the type of information they contain, such as administrative mails, financial mails, confidential mails, personnel mails or legal mails.
(iv) According to the type of document: Mails are grouped based on their physical form, such as letters, circulars, invoices, memos, catalogues or reports. Each type is handled according to its purpose and importance.
(12b)
(i) The mail is received from various departments of the organisation.
(ii) Letters are checked to ensure they are properly signed, dated and completed.
(iii) Enclosures are verified to ensure all referenced documents are attached.
(iv) The mail is folded, enveloped and properly addressed to the recipient.
(v) Postage is assessed and the correct stamp or franking is applied.
(vi) The outgoing mail is recorded in the dispatch book for tracking.
(vii) The mail is taken to the post office, courier service or delivered through internal messengers as required.
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(13)
(i) Proper housekeeping practices: The office should be kept clean and well-organized at all times. Floors must be free from spills, loose wires, scattered papers and obstacles that may cause slips, trips or falls. Well-arranged work areas reduce hazards and create a safer working environment.
(ii) Provision and maintenance of safety equipment: Fire extinguishers, smoke detectors, first-aid boxes and emergency alarms should be installed in strategic locations. These safety devices must be inspected regularly to ensure they are functional and ready for use in case of emergencies.
(iii) Training and orientation of staff: Employees should be taught the correct use of office equipment, emergency procedures, fire-drills and basic first aid. Regular safety training helps workers understand potential hazards and the right actions to take to prevent accidents.
(iv) Proper electrical safety measures: Electrical appliances should be used correctly and maintained by qualified personnel. Overloading sockets, using damaged cords or exposing electrical wires should be avoided. Switches, plug points and machines must be switched off when not in use to prevent electrical fires and shocks.
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(14)
(i) To increase productivity: When employees are motivated, they put in more effort, work efficiently and complete tasks faster. This leads to higher output and overall organisational growth.
(ii) To reduce employee turnover: Motivated workers are more satisfied with their jobs and are less likely to resign. This helps the organisation reduce recruitment costs and retain experienced staff.
(iii) To improve job commitment and loyalty: When employees feel valued and appreciated, they develop a stronger sense of belonging and commitment to the organisation’s goals. This results in better teamwork and dedication.
(iv) To enhance quality of work: Motivated employees pay more attention to detail, use their skills more effectively and show greater creativity. This leads to improved service delivery and higher-quality products.
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BUSINESS ECONOMICS
INSTRUCTION: ANSWER TWO QUESTIONS ONLY FROM THIS PART.
(15a)
The law of diminishing returns states that as additional units of a variable factor such as labour are added to a fixed factor such as land or machinery, a point will eventually be reached where the extra output produced by each additional unit of the variable factor begins to decrease.
(15b)
(i) Availability of capital: A business requires adequate funds for start-up operations, purchase of equipment, payment of salaries and running expenses. The entrepreneur must consider how much capital is required and how it will be sourced.
(ii) Location of the business: The business must be situated in a place where customers, raw materials, labour and transportation are easily available. A good location reduces operational costs and increases patronage.
(iii) Nature of the market: The entrepreneur must consider the size of the market, customer needs, competition and purchasing power. Understanding market demand helps in producing goods or services that will sell.
(iv) Government regulations and policies: Before establishing a business, the owner must check the legal requirements such as registration, licensing, taxation, and environmental rules. Compliance with government policies helps the business operate smoothly without legal problems.
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(16)
(i) Promotion of business stability: Insurance protects businesses against losses from fire, theft, accidents or natural disasters. By compensating organisations when such risks occur, insurance helps businesses continue operations without collapsing, thereby supporting long-term economic stability.
(ii) Mobilisation of savings: Insurance companies collect premiums from individuals and businesses. These accumulated funds are invested in productive sectors of the economy such as agriculture, manufacturing, real estate and government bonds. This mobilised capital promotes economic growth and development.
(iii) Encouragement of investment: Investors are more willing to invest in large projects when they know that insurance will cover potential risks. This encourages the establishment of industries, expansion of firms and development of new ventures, contributing to national economic progress.
(iv) Provision of employment opportunities: The insurance industry creates jobs for underwriters, agents, brokers, claims officers, administrators and many other professionals. By providing employment, the industry helps reduce unemployment and improve the standard of living in Nigeria.
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(17)
(i) Private Property Rights: Individuals and firms have the legal right to own, use, rent or sell land, capital and other resources; this right encourages investment, innovation and care for resources because owners gain the benefits of their decisions and bear the costs of misuse.
(ii) Freedom of Choice: Consumers and producers are free to decide what to buy, sell, produce and employ; these decentralized choices, guided by self-interest, allocate resources by reflecting preferences and opportunity costs without central planning.
(iii) Competition: Many buyers and sellers operate in the market so firms must compete on price, quality and service; competition disciplines firms, spurs efficiency and innovation, prevents monopolistic abuse, and tends to lower prices for consumers.
(iv) Price (Market) Mechanism: Prices emerge from the interaction of supply and demand and act as signals and incentives; rising prices signal scarcity and attract resources, while falling prices indicate surplus and discourage production, thereby coordinating production and consumption without central direction.
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BUSINESS STATISTICS
INSTRUCTION: ANSWER ONE QUESTIONS ONLY FROM THIS PART.
(19i)
Mean:
Sum = (21 + 22 + 23 + 24 + 25 + 26 + 23 + 28 + 29 + 30 + 24 + 31 + 34 + 23)
Sum = 363
Number of values = 14
Mean = (363 ÷ 14)
Mean = 25.9285
Mean ≈ 25.93
(19ii)
Median:
Ordered data = 21, 22, 23, 23, 23, 24, 24, 25, 26, 28, 29, 30, 31, 34
n = 14 (even)
Middle two positions = 7th and 8th values = 24 and 25
Median = (24 + 25) ÷ 2
Median = 49 ÷ 2
Median = 24.5
(19iii)
Mode:
Highest frequency = 3 value 23
Mode = 23
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(20a)
=ADVANTAGES OF STANDARD DEVIATION=
(i) It uses all values in the data set.
(ii) It gives a precise and reliable measure of dispersion.
=DISADVANTAGES OF STANDARD DEVIATION=
(i) It is affected by extreme values.
(ii) It is more complex to calculate compared to other measures of dispersion.
(20b)
(i) Government Publications: These are documents such as census reports, economic surveys, health statistics and educational records produced by government agencies; they provide accurate, authoritative and large-scale data already compiled for public use.
(ii) Research Institutions and Academic Sources: Universities, research centers and international organizations publish journals, theses, conference papers and reports; these materials offer scientifically verified data gathered from previous studies and are useful for comparative or reference purposes.
(iii) Business Records and Organizational Reports: Companies and institutions produce annual reports, sales records, financial statements and internal documents; these records provide detailed information on performance, trends and operations that can support economic, social or managerial research.
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