COMMERCE POST UTMEby AcadllyPOST UTME/POST JAMB COMMERCE POST UTME Practice the Commerce Post UTME for Universities, Polytechnics and College of Education with our CBT software and pass your commerce examination. 0% 4 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 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 debit note, order, delivery note, invoice and statement order, delivery note, invoice, debit note and statement 2 / 50 Category: COMMERCE POST UTME The activities of consumers association in Nigeria have not been effective because the government is not favourably disposed towards consumerism there is poor enlightenment about consumer rights the consumers are too many the consumers have no medium for expressing their feelings. 3 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? manpower materials management money 4 / 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 stock value face value discounted value 5 / 50 Category: COMMERCE POST UTME Freight note is a document given by an importer to pay for goods at a future period issued by a shipping company giving details of charges used for payment for imported goods used by government to transport goods from one country to another 6 / 50 Category: COMMERCE POST UTME The main function of thrift, credit and loans co-operative societies is to disburse money to their members collect money from their members educate their members raise investment finance among their members 7 / 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 Companies and Allied Matters Decree, 1990 Trade Disputes Decree, 1976 8 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Manufacturers Association of Nigeria Federal Environmental Protection Agency Nigerian Medical Association Nigerian Bar Association 9 / 50 Category: COMMERCE POST UTME NACCIMA stands for 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 National Agency for Culture, Civilization, Investments, Manufacturing and Agriculture 10 / 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 and III only I, II and III 11 / 50See also ENGLISH POST UTME 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 12 / 50 Category: COMMERCE POST UTME The existing system of governance and the administrative sub-divisions of a country which described as legal environment political environment economic environment social environment 13 / 50 Category: COMMERCE POST UTME Under normal circumstances, a business enterprise can be ideally structured on the ruling of the management around the personalities in the enterprise on the basis of an order from stockholders by product, function or territories 14 / 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 contribution subrogation re-insurance 15 / 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 Industrial Development Bank Nigerian Bank for Commerce and Industry Nigeria Deposit Insurance Corporation 16 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through discount houses the money market bank overdrafts the capital market 17 / 50 Category: COMMERCE POST UTME Which of the following takes place when firms producing at different stages in the same industry combine? cartel conglomeration horizontal integration vertical integration 18 / 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 19 / 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= 17.00 million =N= 9.35 million =N= 7.65 million 20 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of vertical integration an acquisition horizontal integration lateral merger 21 / 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 II and III only I and III only I and II only 22 / 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 23 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to vote at annual general meetings receive dividends at a predetermined rate participate in additional issues of shares elect the board of directors 24 / 50See also GOVERNMENT POST UTME (PRO) Category: COMMERCE POST UTME The body that organizes, promotes and participates in local and foreign trade fairs is the Ministry of Commerce and Tourism Export Promotion Council Chambers of Commerce Ministry of Finance 25 / 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 26 / 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 freedom from external influence allocation of goods from the producers honest and committed leadership 27 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of scientific development economic development competitive development technological development 28 / 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 normally arrive at their destination with goods all ships have specific routes to ply all ships are insured separately from the crew 29 / 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 30 / 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 31 / 50 Category: COMMERCE POST UTME Management is described as getting things done through people the number of levels in an organisation implementation of business decisions the people in authority in an organization 32 / 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% 33 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from loans and advances customers’ deposits overdrafts staff allowances 34 / 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 demand type of supply price of the goods 35 / 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 36 / 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 37 / 50 Category: COMMERCE POST UTME When an industry or company is nationalized, the state becomes the only shareholder the majority shareholder an equal shareholder with other individuals the minority shareholder 38 / 50See also TYPES OF CONTRACT 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 adulteration of food and drugs sold in the country importation of food and drugs that can be locally manufactured consumption of food and drugs not tested by the ministries of health 39 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should be consumer oriented advertise the goods train their personnel sell through outlets 40 / 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 trade comparative advantage comparative cost advantage balance of payments 41 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is limited liability partnership co-operative sole proprietorship 42 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is cum-dividend ex-dividend bond stock 43 / 50 Category: COMMERCE POST UTME Shares can be forfeited for non-payment of call money non-payment of any due to the company violent activities at the Annual General Meetings non-attending three annual general meetings consecutively 44 / 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 45 / 50 Category: COMMERCE POST UTME The least of the advantages of indigenization is that entrepreneurial skills is developed foreigners’ domination is avoided the standard of living of the indigenes is improved the economy is controlled by the nationals 46 / 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 47 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the directors debtors shareholders creditors 48 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is synthesis merging conditioning blending 49 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? marketing production finance personnel 50 / 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 Your score is The average score is 24% LinkedIn Facebook Twitter VKontakte 0% Restart quiz Send feedback previousTHIN LENCESnextCRK/CRE/CRS POST UTME Leave a Reply Cancel reply Your email address will not be published. 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