UTME 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The macro-environmental forces and trends which are a constraint on business operations are referred to as
A. internal factors
B. external factors
C. economic factors
D. technical factors
Question 2
What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?
A. insurable interest
B. uberrima fidei
C. subrogation
D. indemnity
Question 3
A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a
A. bear
B. bull
C. dealer
D. stag
Question 4
Which of the following has powers to order withdrawal of a particular food item from circulation?
A. Federal High Courts in Nigeria
B. Standard Organization of Nigeria
C. Local Government Health Inspectors
D. Food and Drugs Department of the Federal Ministry of Health
Question 5
The principle of span of control stipulates that
A. the number of employees reporting to one superior should be kept to a workable maximum
B. an employee should report to only one superior
C. managers must demand accountability from their subordinates
D. resources have to be economized within the various divisions
Question 6
A distinctive advantage of GSM is its
A. cost
B. stability
C. coverage
D. mobility
Question 7
Communication process involves the transmission of a message over a selected channel to
A. encoder
B. receiver
C. audience
D. sender
Question 8
Given: I. Retail II. Export III. Transport IV. Import V. Insurance VI. Banking and Finance VII. Wholesale VIII. Communication. Which of the above are aids to trade?
A. III, V, VI and VIII
B. I, II, IV and VI
C. III, V, VI and VII
D. II, V, VI and VII
Question 9
An activity that involves derivation of raw materials from land and sea is
A. agriculture
B. farming
C. extraction
D. construction
Question 10
Hire purchase is advantageous to the seller in that
A. it elevates his living standard
B. people pay instalmentally
C. his turnover will increase
D. it enhances high level of patronage
Question 11
The main objective of a trade association is to
A. protect its members against litigation
B. protect its members against victimization
C. boost the trade of its members
D. secure credit for its members
Question 12
The best mode of ensuring that items posted get to the named addresses is through
A. recorded delivery
B. certificate of posting
C. registered mail
D. express mail
Question 13
The conversion of raw materials into finished products creates
A. form utility
B. time utility
C. marginal utility
D. place utility
Question 14
Services rendered to the public is provided by
A. domestic servants
B. civil servants
C. governments
D. professionals
Question 15
The main advantage of a sole trader is the freedom to
A. employ anyone he likes
B. take quick decision
C. seek advise from any source
D. plough all the profits back into the business

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