0% COMMERCE POST UTME (APP) COMMERCE POST UTME COMMERCE POST UTMEPractice with our Post UTME CBT for Universities, Polytechnics, College of Agriculture, College ofMedicine, College of Technology and College of Education and pass your examination. 1 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of economic development competitive development scientific development technological development 2 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? production finance marketing personnel 3 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? manpower materials money management 4 / 50 Category: COMMERCE POST UTME NACCIMA stands for National Agency for Culture, Civilization, Investments, Manufacturing and Agriculture Nigerian Association for Culture, Civics, Industries, Minerals and Arts Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture Nigerian-American Centre for Culture, Industries, Mines and Arts 5 / 50 Category: COMMERCE POST UTME Goods discharged from ships on which import duties have not been paid are kept in the private warehouse public warehouse bonded warehouse ordinary warehouse 6 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the type of demand price of the goods nature of the services rendered type of supply 7 / 50 Category: COMMERCE POST UTME Which of the following gives the correct order in which the listed documents are used? invoice, order, statement, debit note and delivery note debit note, order, delivery note, invoice and statement order, delivery note, invoice, debit note and statement statement, order, invoice, delivery note and debit note 8 / 50 Category: COMMERCE POST UTME The difference between the total payments for imports and the receipts from exports within a given period is referred to as comparative cost advantage comparative advantage balance of payments balance of trade 9 / 50 Category: COMMERCE POST UTME The most important piece of legislation governing business and commercial activities in Nigeria currently is the Companies and Allied Matters Decree, 1990 Companies Decree, 1968 Trade Disputes Decree, 1976 Banks and Other Financial Institutions Decree, 1991 10 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is bond stock ex-dividend cum-dividend 11 / 50 Category: COMMERCE POST UTME Which of these sets of external environmental factors affect a business operation? Competition, Industry and Product Competition, Labour and Political Political, Cultural and Labour Economic, Social and Legal 12 / 50 Category: COMMERCE POST UTME A distinguishing characteristic of a limited liability company is that is can sue and be sued is a collection of many sole proprietors has limited resources is a multiple partnership 13 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the directors shareholders debtors creditors 14 / 50 Category: COMMERCE POST UTME The activities of consumers association in Nigeria have not been effective because the government is not favourably disposed towards consumerism the consumers have no medium for expressing their feelings. there is poor enlightenment about consumer rights the consumers are too many 15 / 50 Category: COMMERCE POST UTME Freight note is a document used for payment for imported goods given by an importer to pay for goods at a future period issued by a shipping company giving details of charges used by government to transport goods from one country to another 16 / 50 Category: COMMERCE POST UTME Shares can be forfeited for violent activities at the Annual General Meetings non-payment of any due to the company non-attending three annual general meetings consecutively non-payment of call money 17 / 50 Category: COMMERCE POST UTME Which of the following takes place when firms producing at different stages in the same industry combine? horizontal integration vertical integration conglomeration cartel 18 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of vertical integration horizontal integration an acquisition lateral merger 19 / 50 Category: COMMERCE POST UTME The overriding objective of the Food and Drug Act in Nigeria is to prevent the consumption of food and drugs not tested by the ministries of health manufacturers of food and drugs from charging excessive prices importation of food and drugs that can be locally manufactured adulteration of food and drugs sold in the country 20 / 50 Category: COMMERCE POST UTME If a firm’s turnover is =N=15,000 and the cost of goods sold is =N= 10,000, what is the percentage of gross profit on sales? 33.3% 66.6% 50.0% 23.3% 21 / 50 Category: COMMERCE POST UTME Under normal circumstances, a business enterprise can be ideally structured by product, function or territories around the personalities in the enterprise on the ruling of the management on the basis of an order from stockholders 22 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best in a car assembly business a retailing business a mining business an oil exploration business 23 / 50 Category: COMMERCE POST UTME Motivation is an essential element in management because it encourages individuals to work towards achieving the organisation’s objectives helps to eliminate industrial disharmony leads to the improvement of staff welfare reduces friction among the organisation’s objectives 24 / 50 Category: COMMERCE POST UTME The main function of thrift, credit and loans co-operative societies is to disburse money to their members raise investment finance among their members educate their members collect money from their members 25 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as legal environment social environment economic environment political environment 26 / 50 Category: COMMERCE POST UTME The least of the advantages of indigenization is that entrepreneurial skills is developed foreigners’ domination is avoided the standard of living of the indigenes is improved the economy is controlled by the nationals 27 / 50 Category: COMMERCE POST UTME The body that organizes, promotes and participates in local and foreign trade fairs is the Ministry of Commerce and Tourism Chambers of Commerce Export Promotion Council Ministry of Finance 28 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Refinancing and Reinvesting Faculty Refinancing and Recording Faculty Recording and Rediscounting Faculty Refinancing and Rediscounting Faculty 29 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should sell through outlets advertise the goods be consumer oriented train their personnel 30 / 50 Category: COMMERCE POST UTME Management is described as implementation of business decisions getting things done through people the number of levels in an organisation the people in authority in an organization 31 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is conditioning synthesis merging blending 32 / 50 Category: COMMERCE POST UTME The breaking down of a market into separate and identifiable elements each with its own special product requirements is known as market segmentation identification penetration differentiation 33 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as legal environment social environment economic environment political environment 34 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from loans and advances staff allowances overdrafts customers’ deposits 35 / 50 Category: COMMERCE POST UTME The nominal value of a share as specified in the Memorandum of Association and the share certificate is the discounted value face value par value stock value 36 / 50 Category: COMMERCE POST UTME What of the above are requirements for admission into the second-tier securities market?I. Companies must be registered as private limited liability companies.II. Companies must have not less than 100 shareholders.III. No shareholder may have more than 75% of issued share capital. I and III only II and III only I, II and III I and II only 37 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of interest on loans taxes to government dividends to shareholders premium for insurance 38 / 50 Category: COMMERCE POST UTME When an industry or company is nationalized, the state becomes the minority shareholder an equal shareholder with other individuals the only shareholder the majority shareholder 39 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to receive dividends at a predetermined rate participate in additional issues of shares vote at annual general meetings elect the board of directors 40 / 50 Category: COMMERCE POST UTME What are the factors with which commercial undertakings can be distinguished?I          Size of the undertakingsII         Profits generatedIII       forms of ownershipIV       Location of the undertakings I and III only II and III only I and II only III and IV only 41 / 50 Category: COMMERCE POST UTME Which of the following statements is TRUE about sea transport? all ships must be insured at every journey all ships have specific routes to ply all ships are insured separately from the crew all ships normally arrive at their destination with goods 42 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Federal Environmental Protection Agency Nigerian Medical Association Nigerian Bar Association Manufacturers Association of Nigeria 43 / 50 Category: COMMERCE POST UTME A company earned a total revenue of =N=108 million with a total cost of =N=91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit. =N= 17.00 million =N= 24.65 million =N= 7.65 million =N= 9.35 million 44 / 50 Category: COMMERCE POST UTME The assets, liabilities and general management of a distressed bank may be taken over by Nigerian Industrial Development Bank Nigeria Deposit Insurance Corporation Nigerian Bank for Commerce and Industry International Bank for Reconstruction and Development 45 / 50 Category: COMMERCE POST UTME Commerce makes it possible for man to live in a … society characterized by dependency complex and organized society society characterized by subsistency simple and organized society 46 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is sole proprietorship limited liability partnership co-operative 47 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through discount houses bank overdrafts the money market the capital market 48 / 50 Category: COMMERCE POST UTME The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called subrogation indemnity contribution re-insurance 49 / 50 Category: COMMERCE POST UTME The ECOBANK is the initiative of some well-meaning Nigerian shareholders the Lagos State Government to enhance capital mobilization the Federal Government of Nigeria West African States to foster trade 50 / 50 Category: COMMERCE POST UTME For the establishment of a powerful consumers’ association in Nigeria to exist, there must be honest and committed leadership freedom from external influence allocation of goods from the producers financial and moral support from the public Your score is 0% Restart quiz
COMMERCE POST UTME
(APP) COMMERCE POST UTME
Practice with our Post UTME CBT for Universities, Polytechnics, College of Agriculture, College ofMedicine, College of Technology and College of Education and pass your examination.
1 / 50
Category: COMMERCE POST UTME
The use of computers in modern banking industry is a reflection of
2 / 50
Which of the following makes other functions of business its appendages?
3 / 50
Which of the following is the most important business resource?
4 / 50
NACCIMA stands for
5 / 50
Goods discharged from ships on which import duties have not been paid are kept in the
6 / 50
One of the criteria for differentiating consumer markets from industrial ones is the
7 / 50
Which of the following gives the correct order in which the listed documents are used?
8 / 50
The difference between the total payments for imports and the receipts from exports within a given period is referred to as
9 / 50
The most important piece of legislation governing business and commercial activities in Nigeria currently is the
10 / 50
A term which indicates that a share is temporarily suspended is
11 / 50
Which of these sets of external environmental factors affect a business operation?
12 / 50
A distinguishing characteristic of a limited liability company is that is
13 / 50
In the case of a voluntary liquidation of a business, the receiver is appointed by the
14 / 50
The activities of consumers association in Nigeria have not been effective because
15 / 50
Freight note is a document
16 / 50
Shares can be forfeited for
17 / 50
Which of the following takes place when firms producing at different stages in the same industry combine?
18 / 50
The merger of two companies producing the same type of products is an example of
19 / 50
The overriding objective of the Food and Drug Act in Nigeria is to prevent the
20 / 50
If a firm’s turnover is =N=15,000 and the cost of goods sold is =N= 10,000, what is the percentage of gross profit on sales?
21 / 50
Under normal circumstances, a business enterprise can be ideally structured
22 / 50
Sole enterprise may flourish best in
23 / 50
Motivation is an essential element in management because it
24 / 50
The main function of thrift, credit and loans co-operative societies is to
25 / 50
The existing system of governance and the administrative sub-divisions of a country which described as
26 / 50
The least of the advantages of indigenization is that
27 / 50
The body that organizes, promotes and participates in local and foreign trade fairs is the
28 / 50
RRF as a scheme introduced by the Central Bank of Nigeria means
29 / 50
An underlying principle in the marketing of goods is that firms should
30 / 50
Management is described as
31 / 50
The production process that combines two or more raw materials into one end product is
32 / 50
The breaking down of a market into separate and identifiable elements each with its own special product requirements is known as market
33 / 50
34 / 50
A major liability of a commercial bank arises from
35 / 50
The nominal value of a share as specified in the Memorandum of Association and the share certificate is the
36 / 50
What of the above are requirements for admission into the second-tier securities market?
I. Companies must be registered as private limited liability companies.
II. Companies must have not less than 100 shareholders.
III. No shareholder may have more than 75% of issued share capital.
37 / 50
A demonstration of social responsibility by a business is the payment of
38 / 50
When an industry or company is nationalized, the state becomes
39 / 50
The ordinary shareholders enjoy the following rights EXCEPT the right to
40 / 50
What are the factors with which commercial undertakings can be distinguished?
IÂ Â Â Â Â Â Â Â Â Â Size of the undertakings
IIÂ Â Â Â Â Â Â Â Â Profits generated
IIIÂ Â Â Â Â Â Â forms of ownership
IVÂ Â Â Â Â Â Â Location of the undertakings
41 / 50
Which of the following statements is TRUE about sea transport?
42 / 50
An example of a consumer protection agency is the
43 / 50
A company earned a total revenue of =N=108 million with a total cost of =N=91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.
44 / 50
The assets, liabilities and general management of a distressed bank may be taken over by
45 / 50
Commerce makes it possible for man to live in a …
46 / 50
The business organization in which shareholders have equal votes is
47 / 50
A public limited company can raise long-term loans through
48 / 50
The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
49 / 50
The ECOBANK is the initiative of
50 / 50
For the establishment of a powerful consumers’ association in Nigeria to exist, there must be
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