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 The assets, liabilities and general management of a distressed bank may be taken over by Nigeria Deposit Insurance Corporation Nigerian Industrial Development Bank International Bank for Reconstruction and Development Nigerian Bank for Commerce and Industry 2 / 50 Category: COMMERCE POST UTME Which of the following gives the correct order in which the listed documents are used? invoice, order, statement, debit note and delivery note statement, order, invoice, delivery note and debit note order, delivery note, invoice, debit note and statement debit note, order, delivery note, invoice and statement 3 / 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 Banks and Other Financial Institutions Decree, 1991 Companies Decree, 1968 4 / 50 Category: COMMERCE POST UTME A term which indicates that a share is temporarily suspended is bond cum-dividend stock ex-dividend 5 / 50 Category: COMMERCE POST UTME The ordinary shareholders enjoy the following rights EXCEPT the right to receive dividends at a predetermined rate participate in additional issues of shares vote at annual general meetings elect the board of directors 6 / 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 7 / 50 Category: COMMERCE POST UTME Sole enterprise may flourish best in a retailing business an oil exploration business a mining business a car assembly business 8 / 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 9 / 50 Category: COMMERCE POST UTME The business organization in which shareholders have equal votes is limited liability sole proprietorship partnership co-operative 10 / 50 Category: COMMERCE POST UTME An underlying principle in the marketing of goods is that firms should sell through outlets be consumer oriented train their personnel advertise the goods 11 / 50 Category: COMMERCE POST UTME A demonstration of social responsibility by a business is the payment of interest on loans premium for insurance dividends to shareholders taxes to government 12 / 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 honest and committed leadership freedom from external influence financial and moral support from the public 13 / 50 Category: COMMERCE POST UTME A major liability of a commercial bank arises from customers’ deposits staff allowances loans and advances overdrafts 14 / 50 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 15 / 50 Category: COMMERCE POST UTME RRF as a scheme introduced by the Central Bank of Nigeria means Recording and Rediscounting Faculty Refinancing and Recording Faculty Refinancing and Reinvesting Faculty Refinancing and Rediscounting Faculty 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 I and III only I and II only III and IV only II and III only 17 / 50 Category: COMMERCE POST UTME Which of the following is the most important business resource? materials manpower money management 18 / 50 Category: COMMERCE POST UTME Which of the following makes other functions of business its appendages? finance production personnel marketing 19 / 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 20 / 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 segmentation penetration 21 / 50 Category: COMMERCE POST UTME In the case of a voluntary liquidation of a business, the receiver is appointed by the debtors shareholders creditors directors 22 / 50 Category: COMMERCE POST UTME NACCIMA stands for National Agency for Culture, Civilization, Investments, Manufacturing and Agriculture Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture Nigerian Association for Culture, Civics, Industries, Minerals and Arts Nigerian-American Centre for Culture, Industries, Mines and Arts 23 / 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= 17.00 million =N= 24.65 million =N= 9.35 million 24 / 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 25 / 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 26 / 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 27 / 50 Category: COMMERCE POST UTME A distinguishing characteristic of a limited liability company is that is can sue and be sued is a multiple partnership has limited resources is a collection of many sole proprietors 28 / 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 II only I, II and III I and III only 29 / 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 30 / 50 Category: COMMERCE POST UTME The use of computers in modern banking industry is a reflection of economic development scientific development technological development competitive development 31 / 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 contribution subrogation 32 / 50 Category: COMMERCE POST UTME The main function of thrift, credit and loans co-operative societies is to collect money from their members disburse money to their members educate their members raise investment finance among their members 33 / 50 Category: COMMERCE POST UTME The merger of two companies producing the same type of products is an example of horizontal integration vertical integration an acquisition lateral merger 34 / 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 35 / 50 Category: COMMERCE POST UTME An example of a consumer protection agency is the Manufacturers Association of Nigeria Nigerian Bar Association Federal Environmental Protection Agency Nigerian Medical Association 36 / 50 Category: COMMERCE POST UTME Which of these sets of external environmental factors affect a business operation? Political, Cultural and Labour Economic, Social and Legal Competition, Labour and Political Competition, Industry and Product 37 / 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 38 / 50 Category: COMMERCE POST UTME Goods discharged from ships on which import duties have not been paid are kept in the public warehouse private warehouse bonded warehouse ordinary warehouse 39 / 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 political environment social environment 40 / 50 Category: COMMERCE POST UTME The production process that combines two or more raw materials into one end product is conditioning blending synthesis merging 41 / 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 42 / 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 par value discounted value stock value 43 / 50 Category: COMMERCE POST UTME Freight note is a document used for payment for imported goods 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 44 / 50 Category: COMMERCE POST UTME A public limited company can raise long-term loans through the capital market the money market discount houses bank overdrafts 45 / 50 Category: COMMERCE POST UTME Motivation is an essential element in management because it encourages individuals to work towards achieving the organisation’s objectives reduces friction among the organisation’s objectives leads to the improvement of staff welfare helps to eliminate industrial disharmony 46 / 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 comparative advantage balance of payments balance of trade 47 / 50 Category: COMMERCE POST UTME One of the criteria for differentiating consumer markets from industrial ones is the type of demand type of supply price of the goods nature of the services rendered 48 / 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? 33.3% 50.0% 23.3% 66.6% 49 / 50 Category: COMMERCE POST UTME The activities of consumers association in Nigeria have not been effective because the consumers have no medium for expressing their feelings. the government is not favourably disposed towards consumerism the consumers are too many there is poor enlightenment about consumer rights 50 / 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 Your score is 0% Restart quiz Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on Email Share on WhatsApp
