COMMERCE POST UTME PAST QUESTIONS & ANSWERS HomePOST UTME/POST JAMB Past Question & AnswersCOMMERCE POST UTME PAST QUESTIONS & ANSWERS Practice this COMMERCE POST UTME exam questions and answers Our experts have provided correct answers to these questions. 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 Which of the following is the most important business resource? materials manpower money management 2 / 50 Category: COMMERCE POST UTME Management is described as implementation of business decisions getting things done through people the people in authority in an organization the number of levels in an organisation 3 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of an acquisition vertical integration horizontal integration lateral merger 4 / 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 segmentation penetration identification 5 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Nigerian Medical Association Federal Environmental Protection Agency Nigerian Bar Association Manufacturers Association of Nigeria 6 / 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 II and III only I, II and III I and III only 7 / 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 manufacturers of food and drugs from charging excessive prices adulteration of food and drugs sold in the country 8 / 50 Category: COMMERCE POST UTME Motivation is an essential element in management because it leads to the improvement of staff welfare helps to eliminate industrial disharmony encourages individuals to work towards achieving the organisation’s objectives reduces friction among the organisation’s objectives 9 / 50 Category: COMMERCE POST UTME When an industry or company is nationalized, the state becomes an equal shareholder with other individuals the minority shareholder the majority shareholder the only shareholder 10 / 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 11 / 50 Category: COMMERCE POST UTME Commerce makes it possible for man to live in a … society characterized by subsistency simple and organized society society characterized by dependency complex and organized society 12 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should sell through outlets train their personnel advertise the goods be consumer oriented 13 / 50 Category: COMMERCE POST UTME The main function of thrift, credit and loans co-operative societies is to collect money from their members educate their members raise investment finance among their members disburse money to their members 14 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as political environment social environment economic environment legal environment 15 / 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 basis of an order from stockholders on the ruling of the management 16 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through the capital market discount houses the money market bank overdrafts 17 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to vote at annual general meetings elect the board of directors receive dividends at a predetermined rate participate in additional issues of shares 18 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from customers’ deposits loans and advances staff allowances overdrafts 19 / 50 Category: COMMERCE POST UTME A distinguishing characteristic of a limited liability company is that is has limited resources is a multiple partnership is a collection of many sole proprietors can sue and be sued 20 / 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 III and IV only I and II only 21 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of dividends to shareholders premium for insurance taxes to government interest on loans 22 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is sole proprietorship limited liability partnership co-operative 23 / 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 are too many the government is not favourably disposed towards consumerism the consumers have no medium for expressing their feelings. 24 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of economic development scientific development competitive development technological development 25 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as economic environment political environment legal environment social environment 26 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best in an oil exploration business a mining business a car assembly business a retailing business 27 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Refinancing and Rediscounting Faculty Refinancing and Recording Faculty Refinancing and Reinvesting Faculty Recording and Rediscounting Faculty 28 / 50 Category: COMMERCE POST UTME For the establishment of a powerful consumers’ association in Nigeria to exist, there must be allocation of goods from the producers freedom from external influence financial and moral support from the public honest and committed leadership 29 / 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 30 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? personnel finance marketing production 31 / 50 Category: COMMERCE POST UTME The assets, liabilities and general management of a distressed bank may be taken over by International Bank for Reconstruction and Development Nigerian Bank for Commerce and Industry Nigerian Industrial Development Bank Nigeria Deposit Insurance Corporation 32 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is blending conditioning merging synthesis 33 / 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 Companies and Allied Matters Decree, 1990 Companies Decree, 1968 Banks and Other Financial Institutions Decree, 1991 34 / 50 Category: COMMERCE POST UTME The ECOBANK is the initiative of West African States to foster trade the Lagos State Government to enhance capital mobilization some well-meaning Nigerian shareholders the Federal Government of Nigeria 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 balance of payments comparative advantage balance of trade comparative cost advantage 36 / 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% 37 / 50 Category: COMMERCE POST UTME Which of the following statements is TRUE about sea transport? all ships have specific routes to ply 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 38 / 50 Category: COMMERCE POST UTME Which of the following gives the correct order in which the listed documents are used? debit note, order, delivery note, invoice and statement statement, order, invoice, delivery note and debit note order, delivery note, invoice, debit note and statement invoice, order, statement, debit note and delivery note 39 / 50 Category: COMMERCE POST UTME Goods discharged from ships on which import duties have not been paid are kept in the ordinary warehouse bonded warehouse public warehouse private warehouse 40 / 50 Category: COMMERCE POST UTME Shares can be forfeited for violent activities at the Annual General Meetings non-payment of call money non-payment of any due to the company non-attending three annual general meetings consecutively 41 / 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 Chambers of Commerce Export Promotion Council 42 / 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 re-insurance indemnity subrogation contribution 43 / 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 44 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the type of supply price of the goods type of demand nature of the services rendered 45 / 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 discounted value stock value par value 46 / 50 Category: COMMERCE POST UTME Freight note is a document issued by a shipping company giving details of charges given by an importer to pay for goods at a future period used for payment for imported goods used by government to transport goods from one country to another 47 / 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 48 / 50 Category: COMMERCE POST UTME The least of the advantages of indigenization is that entrepreneurial skills is developed the standard of living of the indigenes is improved the economy is controlled by the nationals foreigners’ domination is avoided 49 / 50 Category: COMMERCE POST UTME NACCIMA stands for Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture Nigerian Association for Culture, Civics, Industries, Minerals and Arts National Agency for Culture, Civilization, Investments, Manufacturing and Agriculture Nigerian-American Centre for Culture, Industries, Mines and Arts 50 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is bond cum-dividend ex-dividend stock Your score is 0% Restart quiz