UTME 2025 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Hire purchase is advantageous to the seller in that
A. it elevates his living standard
B. his turnover will increase
C. people pay instalmentally
D. it enhances high level of patronage
Question 2
A firm that adapts itself to delivering the desired satisfaction more effectively and efficiently than its competitors is said to be practising
A. price concept
B. distribution concept
C. product concept
D. marketing concept.
Question 3
One of the reasons why wholesaling must continue is that
A. the tax paid by wholesalers on their profit enhances national revenue
B. by creating artificial scarcity, the wholesaler is enhancing competition in the economy
C. the wholesaler provides technical advice to the retailer
D. the gap between manufacturers and retailers is reduced by wholesalers.
Question 4
The application of division of labour should generally bring about
A. increase in the quantity of goods and services
B. increase in the variety of goods and services
C. cheapness of goods and services
D. cost efficiency in the production of goods and services.
Question 5
When it becomes necessary to liquidate a company, the first step to be taken is the appointment of
A. a receiver
B. an auditor
C. an accountant
D. a liquidator.
Question 6
As the branches indicate, iv is
A. commerce
B. exchange
C. finance
D. construction.
Question 7
A company has an authorized capital of 40 million shares at ₦1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have
A. been issued but not been paid-up
B. been applied for but not issued
C. not been paid-up
D. not yet been issued.
Question 8
In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as
A. countertrade
B. balance of trade
C. balance of payments
D. terms of trade
Question 9
A document which gives a legal status to a company is the certificate of
A. incorporation
B. trading
C. commencement of business
D. insurance
Question 10
Commerce is defined as the study of how
A. man utilizes the resources in his physical environment
B. man produces, distributes and consumes his goods and services
C. man buys, sells and distributes goods and services
D. raw materials are changed into finished goods.
Question 11
The role of customs and excise authorities is
A. provision of a good transport system to facilitate imports and exports
B. provision of security at the port
C. control of the flow of goods into and out of the country
D. provision of docks and ship repairs
Question 12
The nominal value of a share as specified in the Memorandum of Association and the share certificate is the
A. discounted value
B. stock value
C. face value
D. par value.
Question 13
Secondary production has to do with changing the
A. shape of raw materials through construction operations
B. physical form of raw materials into finished goods
C. utility of raw materials by an engineering process
D. nature of raw materials through manufacturing processes.
Question 14
The primary objective of a business organization is to
A. cater for the needs of its owners
B. work towards making returns
C. assist the government to serve the citizens
D. improve the standard of living of its proprietors.
Question 15
The type of partnership in which all partners are jointly liable in bearing risks is
A. limited partnership
B. partnership-at-will
C. ordinary partnership
D. industrial partnership

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