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