UTME 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Poor sewage disposal, oil spill and indiscriminate refuse dumping all lead to
A. land and water pollution
B. land pollution
C. air and water pollution
D. water pollution
Question 2
Assurance is different from insurance in that the former is based on
A. possibility
B. probability
C. risk
D. uncertainty
Question 3
Commerce makes it possible for man to live in a
A. complex and organized society
B. society characterized by dependency
C. simple and organized society
D. society characterized by subsistency
Question 4
The coming together of a manufacturing business with a firm that markets its products is
A. forward integration
B. backward integration
C. a consortium
D. a syndicate
Question 5
An aspect of commerce that facilitates the distribution of product is
A. advertising
B. branding
C. trading
D. transportation
Question 6
The environmental hazard that is most difficult to control is
A. land pollution
B. water pollution
C. political unrest
D. air pollution
Question 7
An account maintained with a commercial bank for the purpose of foreign exchange transaction is the
A. foreign account
B. international account
C. foreign reserves account
D. domiciliary account
Question 8
A wholesaler who possesses the title to the goods he sells is known as
A. a multiple wholesaler
B. an agent wholesaler
C. a merchant wholesaler
D. a general wholesaler
Question 9
Given: Sales 15,000, Opening stock 5,600, Purchases 9,700, Closing stock 4,400, Gross profit 4,500, Net profit 2,000. From the data above, calculate the rate of turnover.
A. 3.50 times
B. 3.00 times
C. 2.18 times
D. 2.00 times
Question 10
The document that explains the types of shares available for sale to the public is
A. a prospectus
B. an invoice
C. an open indent
D. a closed indent
Question 11
The traditional way of paying cooperative dividend is to contribute the profit in proportion to members'
A. contributions
B. volume of purchases
C. subscriptions
D. total savings
Question 12
The proposed monetary integration with ECOWAS sub-region has the overriding benefit of
A. improved exchange
B. enhanced development
C. enhanced trade
D. improved trade
Question 13
The legal aspect of business is designed to
A. safeguard consumers from undue business practices
B. protect business organizations and consumers
C. protect infant industries from collapse
D. encourage free exchange among businesses
Question 14
A share premium is an example of
A. capital reserve
B. issued capital
C. capital stock
D. equity capital
Question 15
Taking a new product to a particular part of a country to test the reaction of consumers to the product is referred to as
A. advertising
B. sampling
C. promotion
D. merchandizing

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