COMMERCE POST JAMB PAST QUESTIONSby AcadllyAndroid Question Bank (POST UTME), Commerce 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 The business organization in which shareholders have equal votes is partnership limited liability co-operative sole proprietorship 2 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? materials manpower management money 3 / 50 Category: COMMERCE POST UTME Commerce makes it possible for man to live in a … complex and organized society society characterized by dependency simple and organized society society characterized by subsistency 4 / 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 5 / 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 comparative cost advantage balance of payments 6 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as legal environment social environment political environment economic environment 7 / 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 I and III only III and IV only I and II only 8 / 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 9 / 50 Category: COMMERCE POST UTME The main function of thrift, credit and loans co-operative societies is to educate their members collect money from their members raise investment finance among their members disburse money to their members 10 / 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 manufacturers of food and drugs from charging excessive prices importation of food and drugs that can be locally manufactured adulteration of food and drugs sold in the country 11 / 50 Category: COMMERCE POST UTME Shares can be forfeited for non-attending three annual general meetings consecutively non-payment of call money non-payment of any due to the company violent activities at the Annual General Meetings 12 / 50 Category: COMMERCE POST UTME The activities of consumers association in Nigeria have not been effective becauseSee also INTRODUCTION TO COMMERCE the consumers have no medium for expressing their feelings. there is poor enlightenment about consumer rights the consumers are too many the government is not favourably disposed towards consumerism 13 / 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 identification differentiation penetration segmentation 14 / 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 15 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through discount houses the capital market bank overdrafts the money market 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 par value face value discounted value stock value 17 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is bond cum-dividend stock ex-dividend 18 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of competitive development economic development technological development scientific development 19 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should sell through outlets advertise the goods train their personnel be consumer oriented 20 / 50 Category: COMMERCE POST UTME NACCIMA stands for Nigerian Association for Culture, Civics, Industries, Minerals and Arts Nigerian-American Centre for Culture, Industries, Mines and Arts Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture National Agency for Culture, Civilization, Investments, Manufacturing and Agriculture 21 / 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= 7.65 million =N= 9.35 million =N= 24.65 million =N= 17.00 million 22 / 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 only shareholder the majority shareholder 23 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the type of supply nature of the services rendered type of demand price of the goods 24 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the shareholders directors debtors creditors 25 / 50 Category: COMMERCE POST UTME Which of the following takes place when firms producing at different stages in the same industry combine? cartel conglomeration vertical integration horizontal integration 26 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best inSee also COMMERCE SSS 2 SCHEME OF WORK a mining business a car assembly business an oil exploration business a retailing business 27 / 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 participate in additional issues of shares elect the board of directors 28 / 50 Category: COMMERCE POST UTME A distinguishing characteristic of a limited liability company is that is is a collection of many sole proprietors has limited resources can sue and be sued is a multiple partnership 29 / 50 Category: COMMERCE POST UTME The body that organizes, promotes and participates in local and foreign trade fairs is the Chambers of Commerce Export Promotion Council Ministry of Finance Ministry of Commerce and Tourism 30 / 50 Category: COMMERCE POST UTME The least of the advantages of indigenization is that foreigners’ domination is avoided the economy is controlled by the nationals entrepreneurial skills is developed the standard of living of the indigenes is improved 31 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? finance production personnel marketing 32 / 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 33 / 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 re-insurance subrogation contribution 34 / 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 35 / 50 Category: COMMERCE POST UTME Motivation is an essential element in management because it helps to eliminate industrial disharmony leads to the improvement of staff welfare reduces friction among the organisation’s objectives encourages individuals to work towards achieving the organisation’s objectives 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 allocation of goods from the producers freedom from external influence 37 / 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 38 / 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 Companies Decree, 1968 Trade Disputes Decree, 1976 Banks and Other Financial Institutions Decree, 1991 39 / 50 Category: COMMERCE POST UTME Which of the following gives the correct order in which the listed documents are used?See also INDUSTRIAL COMBINATIONS/INTEGRATION 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 40 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Refinancing and Recording Faculty Recording and Rediscounting Faculty Refinancing and Rediscounting Faculty Refinancing and Reinvesting Faculty 41 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of premium for insurance taxes to government dividends to shareholders interest on loans 42 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of vertical integration horizontal integration lateral merger an acquisition 43 / 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 Competition, Labour and Political Political, Cultural and Labour 44 / 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 II and III only I, II and III I and II only 45 / 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 must be insured at every journey all ships have specific routes to ply all ships are insured separately from the crew 46 / 50 Category: COMMERCE POST UTME Freight note is a document used for payment for imported goods given by an importer to pay for goods at a future period used by government to transport goods from one country to another issued by a shipping company giving details of charges 47 / 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% 33.3% 66.6% 23.3% 48 / 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 on the ruling of the management by product, function or territories 49 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from overdrafts customers’ deposits staff allowances loans and advances 50 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is conditioning synthesis merging blending Your score is 0% Restart quiz previousCHEMISTRY POST UTME PAST QUESTIONSnextIELTS EXAM 01 Leave a Reply Cancel reply Your email address will not be published. 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