COMMERCE POST UTME School Portal NG51 years agoPOST UTME/POST JAMB 0 152 ViewsCOMMERCE POST UTME Practice the Commerce Post UTME for Universities, Polytechnics and College of Education with our CBT software and pass your commerce examination. 0% 1 COMMERCE POST UTME COMMERCE POST UTME COMMERCE POST UTMEPractice the Commerce Post UTME for Universities, Polytechnicsand College of Education with our CBT software and pass your commerce examination. 1 / 50 Category: COMMERCE POST UTME The activities of consumers association in Nigeria have not been effective because the consumers are too many there is poor enlightenment about consumer rights the government is not favourably disposed towards consumerism the consumers have no medium for expressing their feelings. 2 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of taxes to government interest on loans premium for insurance dividends to shareholders 3 / 50 Category: COMMERCE POST UTME Which of the following statements is TRUE about sea transport? all ships normally arrive at their destination with goods all ships are insured separately from the crew all ships must be insured at every journey all ships have specific routes to ply 4 / 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= 9.35 million =N= 17.00 million =N= 7.65 million 5 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? management money materials manpower 6 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? personnel finance marketing production 7 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of horizontal integration lateral merger an acquisition vertical integration 8 / 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? 66.6% 23.3% 33.3% 50.0% 9 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should be consumer oriented train their personnel sell through outlets advertise the goods 10 / 50 Category: COMMERCE POST UTME Commerce makes it possible for man to live in a … simple and organized society complex and organized society society characterized by subsistency society characterized by dependency 11 / 50 Category: COMMERCE POST UTME When an industry or company is nationalized, the state becomes the minority shareholder the majority shareholder an equal shareholder with other individuals the only shareholder 12 / 50 Category: COMMERCE POST UTME Which of these sets of external environmental factors affect a business operation? Political, Cultural and Labour Competition, Industry and Product Competition, Labour and Political Economic, Social and Legal 13 / 50 Category: COMMERCE POST UTME The most important piece of legislation governing business and commercial activities in Nigeria currently is the Trade Disputes Decree, 1976 Banks and Other Financial Institutions Decree, 1991 Companies Decree, 1968 Companies and Allied Matters Decree, 1990 14 / 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 II only I and III only I, II and III II and III only 15 / 50 Category: COMMERCE POST UTME The least of the advantages of indigenization is that the standard of living of the indigenes is improved foreigners’ domination is avoided entrepreneurial skills is developed the economy is controlled by the nationals 16 / 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 I and II only I and III only II and III only 17 / 50 Category: COMMERCE POST UTME Motivation is an essential element in management because it leads to the improvement of staff welfare encourages individuals to work towards achieving the organisation’s objectives helps to eliminate industrial disharmony reduces friction among the organisation’s objectives 18 / 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 debit note, order, delivery note, invoice and statement statement, order, invoice, delivery note and debit note invoice, order, statement, debit note and delivery note 19 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is sole proprietorship partnership limited liability co-operative 20 / 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 disburse money to their members collect money from their members 21 / 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 differentiation identification segmentation penetration 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 political environment legal environment 23 / 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 importation of food and drugs that can be locally manufactured adulteration of food and drugs sold in the country manufacturers of food and drugs from charging excessive prices 24 / 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 25 / 50 Category: COMMERCE POST UTME Shares can be forfeited for violent activities at the Annual General Meetings non-payment of call money non-attending three annual general meetings consecutively non-payment of any due to the company 26 / 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 contribution re-insurance indemnity subrogation 27 / 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 28 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through bank overdrafts the money market the capital market discount houses 29 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Refinancing and Recording Faculty Refinancing and Rediscounting Faculty Recording and Rediscounting Faculty Refinancing and Reinvesting Faculty 30 / 50 Category: COMMERCE POST UTME For the establishment of a powerful consumers’ association in Nigeria to exist, there must be freedom from external influence financial and moral support from the public honest and committed leadership allocation of goods from the producers 31 / 50 Category: COMMERCE POST UTME Which of the following takes place when firms producing at different stages in the same industry combine? conglomeration cartel vertical integration horizontal integration 32 / 50 Category: COMMERCE POST UTME Management is described as implementation of business decisions the number of levels in an organisation the people in authority in an organization getting things done through people 33 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the directors shareholders creditors debtors 34 / 50 Category: COMMERCE POST UTME A distinguishing characteristic of a limited liability company is that is can sue and be sued has limited resources is a collection of many sole proprietors is a multiple partnership 35 / 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 balance of trade comparative advantage 36 / 50 Category: COMMERCE POST UTME The body that organizes, promotes and participates in local and foreign trade fairs is the Export Promotion Council Ministry of Commerce and Tourism Chambers of Commerce Ministry of Finance 37 / 50 Category: COMMERCE POST UTME The nominal value of a share as specified in the Memorandum of Association and the share certificate is the face value stock value discounted value par value 38 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Manufacturers Association of Nigeria Nigerian Bar Association Nigerian Medical Association Federal Environmental Protection Agency 39 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best in a retailing business a mining business a car assembly business an oil exploration business 40 / 50 Category: COMMERCE POST UTME Under normal circumstances, a business enterprise can be ideally structured around the personalities in the enterprise on the basis of an order from stockholders by product, function or territories on the ruling of the management 41 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as political environment legal environment economic environment social environment 42 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the price of the goods type of demand type of supply nature of the services rendered 43 / 50 Category: COMMERCE POST UTME The ECOBANK is the initiative of some well-meaning Nigerian shareholders the Lagos State Government to enhance capital mobilization West African States to foster trade the Federal Government of Nigeria 44 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to participate in additional issues of shares vote at annual general meetings receive dividends at a predetermined rate elect the board of directors 45 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is stock ex-dividend cum-dividend bond 46 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from customers’ deposits loans and advances overdrafts staff allowances 47 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is synthesis blending conditioning merging 48 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of technological development economic development scientific development competitive development 49 / 50 Category: COMMERCE POST UTME NACCIMA stands for National Agency for Culture, Civilization, Investments, Manufacturing and Agriculture Nigerian-American Centre for Culture, Industries, Mines and Arts Nigerian Association for Culture, Civics, Industries, Minerals and Arts Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture 50 / 50 Category: COMMERCE POST UTME Goods discharged from ships on which import duties have not been paid are kept in the bonded warehouse private warehouse ordinary warehouse public warehouse Your score is The average score is 2% LinkedIn Facebook Twitter 0% Restart quiz Send feedback School Portal NG 0
