UTME 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A disadvantage of personal selling is that it
A. increases a company's number of customers
B. reduces a company area of patronage
C. increases a company's operating costs
D. decreases a company's operating costs
Question 2
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 3
In Nigeria, the ministry in charge of registering trade associations is that of
A. culture and tourism
B. finance
C. industries
D. commerce
Question 4
Awarding scholarships and sponsoring sports by a business organization are examples of
A. social responsibility
B. advertising strategy
C. marketing strategy
D. economic responsibility
Question 5
Which of the following regulates and controls the activities in the Nigeria Stock Exchange?
A. SEC
B. BPE
C. CBN
D. NDIC
Question 6
An arrangement by independent firms to share the market of their products on quota basis is referred to as
A. cartel
B. syndicate
C. trust
D. integration
Question 7
Balance of payments is made up of
A. currency and capital items
B. visible and current items
C. visible and invisible items
D. visible and capital items
Question 8
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 9
The major determinant of fire insurance premium is the
A. usefulness of the property to the owner
B. type and structure of the property to be insured
C. extent of fixed damage anticipated
D. owner of the property to be insured
Question 10
The business organization that can effectively combine management with control is
A. co-operation society
B. public limited liability company
C. private limited liability company
D. sole proprietorship
Question 11
The two main categories under which marine losses fall in are
A. total loss and partial loss
B. voyage policy loss and time policy loss
C. particular loss and average loss
D. actual loss and general loss
Question 12
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 13
The four P's of marketing are
A. Price, product, property and place
B. Product, place, process and promotion
C. Price, production, place and property
D. Price, product, place and promotion
Question 14
The factor which critically determines the choice of occupation is
A. skill
B. training
C. aptitude
D. interest
Question 15
The act of a person employing another to enter into contract on his behalf is known as
A. agency
B. bilateral agreement
C. business
D. sale of goods

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