UTME 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
What is the capital employed?
A. N340,000
B. N200,000
C. N300,000
D. N170,000
Question 2
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 3
An activity that involves derivation of raw materials from land and sea is
A. agriculture
B. farming
C. extraction
D. construction
Question 4
An agency contract must involve
A. a principal and a consumer
B. a principal and an agent
C. a principal and a producer
D. a principal and a third party
Question 5
A form of money with face value which is greater than the value of the metal contents is
A. bank notes
B. legal tender
C. commodity money
D. token money
Question 6
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 7
Which of the following countries are members of the Lake Chad Basin Commission?
A. Niger and Cameroun
B. Benin and Nigeria
C. Nigeria and Mali
D. Chad and Benin
Question 8
The type of communication from a superior to a subordinate in an organization is referred to as
A. downward communication
B. upward communication
C. lateral communication
D. horizontal communication
Question 9
A form of money that has gone out of use is
A. paper money
B. commodity money
C. foreign money
D. bank money
Question 10
A proforma invoice is not required when
A. quoting for the supply of good
B. dealing regularly with a customer
C. goods are sent on approval
D. final prices are uncertain
Question 11
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. owner of the property to be insured
D. extent of fire damage anticipated
Question 12
Departmentalization is an aspect of
A. directing
B. organizing
C. planning
D. controlling
Question 13
The transmission of telephone services from one country to another is facilitated by
A. international facility
B. internet services
C. interconnectivity
D. communication satellite
Question 14
The major objective of corporate mergers is to
A. minimize the effects of taxation
B. increase financial advantage
C. enhance economies of sale
D. facilitate profit maximization
Question 15
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

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