UTME 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Computers that process all data as binary zeros and ones are
A. analog computers
B. hybrid computers
C. desktop computers
D. digital computers
Question 2
Consumer sovereignty means that the consumer is
A. a citizen
B. always right
C. always wrong
D. always independent
Question 3
The instrument used in the capital market is
A. treasury bill
B. stock
C. debenture
D. bill of exchange
Question 4
One of the major functions of a chamber of commerce is to
A. advise members on regulations of other countries
B. settle disputes that arise out of trade
C. promote and protect trade, industry and agriculture
D. publish books and periodicals desired by members
Question 5
A company which issues a promissory note in lieu of payment for goods purchased
A. is bound to redeem the note for cash on due date
B. is not bound to renew the note before payment
C. can return the goods purchased and refuse to pay
D. can refuse to pay on the due date since it is only a promise
Question 6
A Digital Versatile Disk is an example of a
A. computer storage device
B. transmission control protocol
C. microprocessor
D. file transfer protocol
Question 7
Marketing differs from selling in that, the latter only creates
A. possession utility
B. marginal utility
C. form utility
D. place utility
Question 8
Organizing trade fairs in Nigeria is the responsibility of
A. National Directorate of Employment
B. Chambers of Commerce
C. Trade Associations
D. Federal Ministry of Commerce
Question 9
A credit instrument which also serves as a legal tender is
A. paper money
B. cheque
C. voucher
D. money order
Question 10
What is the company's authorized share capital?
A. ₦4,000,000
B. ₦2,500,000
C. ₦5,000,000
D. ₦7,500,000
Question 11
Money is generally acceptable for transaction due to
A. the rule of the law
B. its acceptability in the global market
C. the Central Bank Governor's signature
D. the legal backing
Question 12
In product pricing, which of these elements needs more consideration than others?
A. the cost of producing the product
B. the demand for the product
C. the demography of the buyers of the product
D. the economic conditions in the market
Question 13
One advantage of a crossed cheque is that it can
A. only be paid into the owner's account
B. only be paid into a savings account
C. be cashed over the bank's counter
D. be cashed by anyone
Question 14
The type of letters that are delivered through the normal mail or by airmail express service is referred to as
A. inland letters
B. airmail letters
C. registered letters
D. express letters
Question 15
One of the factors which critically determines the choice of occupation is
A. training
B. skill
C. interest
D. aptitude

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