UTME 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Social responsibility is the ability of organization to
A. operate without disrupting the very essence of the environment
B. tackle the socio-economic problems of its community
C. meet the needs of its community
D. contribute to sustaining and developing its community
Question 2
Nationalization of an industry means that its ownership becomes that of
A. tax payers
B. indigenes
C. government
D. shareholders
Question 3
A company which issues a promissory note in lieu of payment for goods purchased
A. is not bound to renew the note before payment
B. can return the goods purchased and refuse to pay
C. can refuse to pay on due date since it is only a promise
D. is bound to redeem the note for cash on due date
Question 4
The main documents sent to an importer of goods by the exporter are
A. indent, bill of lading, certificate of origin, invoice and bill of exchange
B. certificate of origin, bill of exchange, invoice insurance, policy, indent and bill of lading
C. bill of lading, invoice, insurance and policy, consular invoice, certificate of origin and bill of exchange
D. invoice, consular invoice, certificate of origin, freight note, indent and insurance policy
Question 5
Chinyere agreed to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could
A. seize another gown from chinyere's shop
B. regard the contract between them as terminated
C. sue chinyere for specific performance
D. sue chinyere for damage
Question 6
One of the major problems of a sole proprietor is sourcing for
A. funds
B. labour
C. raw materials
D. machineries
Question 7
Money is generally acceptable for transaction due to
A. the rule of the law
B. its acceptability in the global market
C. the legal backing
D. the Central Bank Governor's signature
Question 8
One way by which government reduces the repatriation of capital is through
A. divestiture
B. naturalization
C. nationalization
D. indigenization
Question 9
An author's exclusive right to his published and unpublished works is known as
A. constitutional right
B. copy right
C. author right
D. patent right
Question 10
Which of the following regulates and controls the activities in the Nigeria Stock Exchange?
A. SEC
B. BPE
C. CBN
D. NDIC
Question 11
The internet is a system of telecommunications used for
A. sending electronic messages
B. communicating long-distance messages
C. sending and receiving text messages
D. communicating messages through telegrams
Question 12
From which of the following sources can companies increase their capital?
A. Sales of shares
B. Admission of new partners
C. Discharge of mortgage
D. Grants from relations
Question 13
The maximum number of shareholders in a public liability company is
A. one hundred
B. unlimited
C. fifty
D. twenty
Question 14
Capital of a business is technically
A. a liability
B. an expense
C. a project
D. an asset
Question 15
In Nigeria, the ministry in charge of registering trade associations is that of
A. culture and tourism
B. finance
C. industries
D. commerce

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