Home — Commerce — (APP) COMMERCE POST UTME PAST QUESTIONS(APP) COMMERCE POST UTME PAST QUESTIONSAndroid Question Bank (POST UTME), Commerce School Portal NG Post Views: 6,344 COMMERCE POST UTME PAST QUESTIONS AND ANSWERS % 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 least of the advantages of indigenization is that the standard of living of the indigenes is improved the economy is controlled by the nationals foreigners’ domination is avoided entrepreneurial skills is developed 2 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should sell through outlets be consumer oriented train their personnel advertise the goods 3 / 50 Category: COMMERCE POST UTME The ECOBANK is the initiative of some well-meaning Nigerian shareholders West African States to foster trade the Lagos State Government to enhance capital mobilization the Federal Government of Nigeria 4 / 50 Category: COMMERCE POST UTME Motivation is an essential element in management because it leads to the improvement of staff welfare reduces friction among the organisation’s objectives encourages individuals to work towards achieving the organisation’s objectives helps to eliminate industrial disharmony 5 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the type of demand type of supply price of the goods nature of the services rendered 6 / 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 indemnity contribution subrogation re-insurance 7 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as economic environment legal environment social environment political environment 8 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best in a retailing business a car assembly business an oil exploration business a mining business 9 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as economic environment legal environment political environment social environment 10 / 50 Category: COMMERCE POST UTME The overriding objective of the Food and Drug Act in Nigeria is to prevent the adulteration of food and drugs sold in the country consumption of food and drugs not tested by the ministries of health importation of food and drugs that can be locally manufactured manufacturers of food and drugs from charging excessive prices 11 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from staff allowances overdrafts customers’ deposits loans and advances 12 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is blending synthesis conditioning merging 13 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to receive dividends at a predetermined rate elect the board of directors participate in additional issues of shares vote at annual general meetings 14 / 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= 7.65 million =N= 9.35 million =N= 24.65 million 15 / 50 Category: COMMERCE POST UTME Which of the following takes place when firms producing at different stages in the same industry combine? cartel conglomeration horizontal integration vertical integration 16 / 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 stock value par value 17 / 50 Category: COMMERCE POST UTME The activities of consumers association in Nigeria have not been effective because there is poor enlightenment about consumer rights the consumers have no medium for expressing their feelings. the consumers are too many the government is not favourably disposed towards consumerism 18 / 50 Category: COMMERCE POST UTME The most important piece of legislation governing business and commercial activities in Nigeria currently is the Companies Decree, 1968 Trade Disputes Decree, 1976 Companies and Allied Matters Decree, 1990 Banks and Other Financial Institutions Decree, 1991 19 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? marketing personnel production finance 20 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the debtors creditors directors shareholders 21 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through the money market bank overdrafts discount houses the capital market 22 / 50 Category: COMMERCE POST UTME Commerce makes it possible for man to live in a … simple and organized society society characterized by dependency complex and organized society society characterized by subsistency 23 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of premium for insurance interest on loans dividends to shareholders taxes to government 24 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is bond stock cum-dividend ex-dividend 25 / 50 Category: COMMERCE POST UTME Which of the following statements is TRUE about sea transport? all ships are insured separately from the crew all ships have specific routes to ply all ships must be insured at every journey all ships normally arrive at their destination with goods 26 / 50 Category: COMMERCE POST UTME A distinguishing characteristic of a limited liability company is that is is a multiple partnership can sue and be sued is a collection of many sole proprietors has limited resources 27 / 50See also INTRODUCTION TO DATA PROCESSING Category: COMMERCE POST UTME Freight note is a document used by government to transport goods from one country to another given by an importer to pay for goods at a future period issued by a shipping company giving details of charges used for payment for imported goods 28 / 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 order, delivery note, invoice, debit note and statement statement, order, invoice, delivery note and debit note debit note, order, delivery note, invoice and statement 29 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is partnership limited liability sole proprietorship co-operative 30 / 50 Category: COMMERCE POST UTME Under normal circumstances, a business enterprise can be ideally structured by product, function or territories on the ruling of the management on the basis of an order from stockholders around the personalities in the enterprise 31 / 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 32 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? materials money management manpower 33 / 50 Category: COMMERCE POST UTME The main function of thrift, credit and loans co-operative societies is to raise investment finance among their members educate their members collect money from their members disburse money to their members 34 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of horizontal integration an acquisition vertical integration lateral merger 35 / 50 Category: COMMERCE POST UTME Which of these sets of external environmental factors affect a business operation? Competition, Industry and Product Economic, Social and Legal Political, Cultural and Labour Competition, Labour and Political 36 / 50 Category: COMMERCE POST UTME Shares can be forfeited for non-payment of any due to the company non-attending three annual general meetings consecutively non-payment of call money violent activities at the Annual General Meetings 37 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of scientific development economic development competitive development technological development 38 / 50 Category: COMMERCE POST UTME Goods discharged from ships on which import duties have not been paid are kept in the private warehouse bonded warehouse public warehouse ordinary warehouse 39 / 50 Category: COMMERCE POST UTME The body that organizes, promotes and participates in local and foreign trade fairs is the Ministry of Finance Chambers of Commerce Export Promotion Council Ministry of Commerce and Tourism 40 / 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 41 / 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 International Bank for Reconstruction and Development Nigerian Bank for Commerce and Industry 42 / 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? 50.0% 66.6% 33.3% 23.3% 43 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Federal Environmental Protection Agency Manufacturers Association of Nigeria Nigerian Bar Association Nigerian Medical Association 44 / 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 balance of payments comparative advantage balance of trade 45 / 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 penetration identification segmentation differentiation 46 / 50 Category: COMMERCE POST UTME For the establishment of a powerful consumers’ association in Nigeria to exist, there must be freedom from external influence honest and committed leadership allocation of goods from the producers financial and moral support from the public 47 / 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 I and II only I, II and III II and III only 48 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Recording and Rediscounting Faculty Refinancing and Recording Faculty Refinancing and Reinvesting Faculty Refinancing and Rediscounting Faculty 49 / 50 Category: COMMERCE POST UTME When an industry or company is nationalized, the state becomes the minority shareholder the only shareholder an equal shareholder with other individuals the majority shareholder 50 / 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 III and IV only II and III only I and III only I and II only Your score is 0% Restart quiz Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Website Comment Tags:CommerceCommerce POST UTME
