COMMERCE POST JAMB PAST QUESTIONS Leave a Comment / Android Question Bank (POST UTME), Commerce / By Acadlly / Commerce, Commerce POST UTME COMMERCE POST JAMB PAST QUESTIONS AND ANSWERS 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 Goods discharged from ships on which import duties have not been paid are kept in the private warehouse public warehouse ordinary warehouse bonded warehouse 2 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through the capital market the money market bank overdrafts discount houses 3 / 50 Category: COMMERCE POST UTME The least of the advantages of indigenization is that foreigners’ domination is avoided the standard of living of the indigenes is improved entrepreneurial skills is developed the economy is controlled by the nationals 4 / 50 Category: COMMERCE POST UTME Shares can be forfeited for non-payment of any due to the company violent activities at the Annual General Meetings non-attending three annual general meetings consecutively non-payment of call money 5 / 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 majority shareholder the only shareholder 6 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of competitive development economic development scientific development technological development 7 / 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. II and III only I and III only I and II only I, II and III 8 / 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 9 / 50 Category: COMMERCE POST UTME The assets, liabilities and general management of a distressed bank may be taken over by Nigerian Industrial Development Bank International Bank for Reconstruction and Development Nigeria Deposit Insurance Corporation Nigerian Bank for Commerce and Industry 10 / 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% 23.3% 33.3% 11 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? management materials money manpower 12 / 50 Category: COMMERCE POST UTME Management is described as implementation of business decisions the people in authority in an organization getting things done through people the number of levels in an organisation 13 / 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 14 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as economic environment social environment political environment legal environment 15 / 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 16 / 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 17 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of premium for insurance dividends to shareholders taxes to government interest on loans 18 / 50 Category: COMMERCE POST UTME The overriding objective of the Food and Drug Act in Nigeria is to prevent the 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 consumption of food and drugs not tested by the ministries of health 19 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from loans and advances customers’ deposits staff allowances overdrafts 20 / 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 21 / 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 have specific routes to ply all ships must be insured at every journey all ships are insured separately from the crew 22 / 50 Category: COMMERCE POST UTME The nominal value of a share as specified in the Memorandum of Association and the share certificate is the stock value discounted value par value face value 23 / 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 reduces friction among the organisation’s objectives encourages individuals to work towards achieving the organisation’s objectives 24 / 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 25 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the shareholders creditors debtors directors 26 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Recording and Rediscounting Faculty Refinancing and Reinvesting Faculty Refinancing and Rediscounting Faculty Refinancing and Recording Faculty 27 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should advertise the goods be consumer oriented sell through outlets train their personnel 28 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? personnel finance marketing production 29 / 50 Category: COMMERCE POST UTME The ECOBANK is the initiative of West African States to foster trade some well-meaning Nigerian shareholders the Federal Government of Nigeria the Lagos State Government to enhance capital mobilization 30 / 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 31 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to participate in additional issues of shares elect the board of directors receive dividends at a predetermined rate vote at annual general meetings 32 / 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 subrogation contribution re-insurance 33 / 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 cost advantage balance of trade comparative advantage 34 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Nigerian Bar Association Manufacturers Association of Nigeria Nigerian Medical Association Federal Environmental Protection Agency 35 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is merging conditioning blending synthesis 36 / 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 37 / 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 Economic, Social and Legal Competition, Labour and Political 38 / 50 Category: COMMERCE POST UTME Which of the following takes place when firms producing at different stages in the same industry combine? cartel vertical integration conglomeration horizontal integration 39 / 50 Category: COMMERCE POST UTME Freight note is a document used by government to transport goods from one country to another 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 40 / 50 Category: COMMERCE POST UTME Which of the following gives the correct order in which the listed documents are used? statement, order, invoice, delivery note and debit note invoice, order, statement, debit note and delivery note order, delivery note, invoice, debit note and statement debit note, order, delivery note, invoice and statement 41 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is cum-dividend ex-dividend bond stock 42 / 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 43 / 50 Category: COMMERCE POST UTME Commerce makes it possible for man to live in a … society characterized by subsistency simple and organized society complex and organized society society characterized by dependency 44 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of vertical integration an acquisition lateral merger horizontal integration 45 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the nature of the services rendered type of supply type of demand price of the goods 46 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best in a mining business a car assembly business a retailing business an oil exploration business 47 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is sole proprietorship partnership co-operative limited liability 48 / 50 Category: COMMERCE POST UTME The most important piece of legislation governing business and commercial activities in Nigeria currently is the Companies Decree, 1968 Banks and Other Financial Institutions Decree, 1991 Trade Disputes Decree, 1976 Companies and Allied Matters Decree, 1990 49 / 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 II and III only III and IV only I and III only I and II only 50 / 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 Your score is 0% Restart quiz
