Hello and Welcome to UTME CBT FREE Practice Test - Commerce

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The process of transferring data from one computer to another is referred to as ______

(a) downloading   (b) faxing   (c) decoding   (d) browsing

The assembling of products into usable forms is known as ________

A. manufacturing   B. creation   C. construction   D. formation.

A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as ______

A. a bond   B. an overdraft   C. a debenture   D. a term loan.

The instruments of credit include ______

A. bills of exchange and promissory notes
B. bill boards and Postal stamps
C. bills of exchange and salary vouchers
D. payment vouchers and statement of account.

The focal point of marketing is ______

A. profit-making   B. sales   C. the buyer   D. the competitor.

A country is said to be experiencing an unfavourable balance of trade if her _______

(a) exports exceeds imports
(b) visible imports exceed visible exports
(c) visible exports exceed visible imports
(d) imports and exports are equal

A core investor in the current phase of privatization in Nigeria is one who ______

A. can afford to buy most of the shares of the enterprises
B. will be at the core of the enterprises
C. can mobilize foreign currency equivalent to the value of the enterprises
D. has the technical know-how of the enterprises.

As the branches indicates, iv is ______

A. finance   B. commerce   C. construction   D. exchange.

The government’s policy thrust on the business environment is to ______

A. increase production    B. promotion exports    C. attract investors   D. be self-sufficient.

A wholesaler who possesses the title to the goods he sells is known as ______

A. a merchant wholesaler   B. a multiple wholesaler   C. a general wholesaler   D. an agent wholesaler.

The term 4 net 7 on an invoice means that _______

A. 4% discount will be allowed on the price charged i payment is made within seven days
B. 4% discount will be allowed on the price charged if payment is made after seven days.
C. 4% surcharge will be made unless payment is made within seven days
D. 4% discount will be allowed on the price charged only if the goods are bought within seven days.

Securities on which the buyers are not issued with certificates are called ______

A. authorized securities   B. inscribe securities   C. bearer securities   D. registered securities.

A source of short-term finance to companies is ______

A. debentures   B. retained earnings   C. corporate tax   D. share capital.

An important factor that influences the location of cement industry in an area is ______

(a) attitude of individuals   (b) skill and training   (c) political interest   (d) natural resources.

Entrepreneurship mainly involves _______

A. knowledge   B. risk-taking   C. initiating   D. skilled manpower.

The concept that refers to the sale, transfer is exchange of goods and services is ______

A. tariff   B. marketing   C. trade   D. industry.

A functional structure is an organizational structure in which ______

A. there is no hierarchy
B. abstract rules are applied
C. equity prevails
D. a specialist enforces his directives.

An order sent by an importer to an overseas supplier stating the details of goods required is known as ______

A. ship’s manifest   B. an indent   C. bill of lading   D. export invoice.

In a staff-authority relationship, the opinion of a specialist in one department to another is _____

(a) a directive   (b) an advice   (c) a delegation   (d) a command

Authorized share capital is also known as _______

A. paid-up share capital   B. registered share capital   C. issued share capital   D. called-up share capital.

International trade takes place as a result of ______

A. similarities in climatic conditions
B. uniformity in costs of production
C. inequitable distribution of natural resources
D. parity in the level of industrialization.

A common element in all contracts is _______

A. consideration   B. agreement   C. offer   D. acceptance.

Which of the following is a quality of money?

(a) availability   (b) scarcity   (c) convertibility   (d) indivisibility

The role of customs and excise authority includes the _______

(a) provision of a good transport system to facilitate import and exports
(b) provision of dockyards for ship repairs
(c) provision of security at the port
(d) control of the flow of goods in and out of the country

Debentures differ from shares in that ______

A. they are secured on the company’s assets
B. ownership is open to the public
C. they form part of the capital of the business
D. rewards are usually paid out of profit.

One of the services rendered by NITEL is ________

(a) courier service   (b) photo-telegram service   (c) banking service   (d) business reply service

Management of a business involves the development of ideas of the _______

(a) distribution of goods and services that man wants
(b) transportation of goods and services that man wants
(c) production of goods and services that satisfy man needs
(d) transfer of tile of ownership of goods and services to individuals

The slogan, a wonderful world, used by a communication network is a form of ______

(a) packaging   (b) publicity   (c) product differentiation   (d) persuasive advertising

An ancillary to trade that easily links suppliers with consumers is ______

(a) tourism   (b) banking   (c) transportation   (d) communication

Communication process involves the transmission of a message over a selected channel to the ____

A. encoder   B. receiver   C. audience   D. sender.

The rate of turnover of a firm in a given year is 5 times while the average stock is N 12, 500. What is the turnover of the firm?

(a) N 24, 000   (b) N 46, 000   (c) N 65, 000   (d) N 62, 500

Money can simply be referred to as a _______

A. standard of value
B. medium of exchange
C. means for the settlement of debts
D. durable asset for doing business.

The protection of consumers against exploitation by manufacturers is to ensure ______

A. increase in production capacity
B. increase in the level of consumer awareness
C. that the right quality of goods and services is sold
D. that there are varieties of products.

The unit through which the results of a processed data are displayed is the ______

A. logic unit   B. display unit   C. control unit   D. output unit.

A retail cooperative aims at _____

A. hoarding manufacturing goods
B. cutting off the profit of middlemen
C. lending money to members at low interest rates
D. encouraging members to save money.

The location of a business is mostly influenced by ______

A. management decision   B. capital   C. environment   D. market outlet

A group of companies is a collection of ______

A. subsidiaries and their holding company
B. firms
C. associates and their holding company
D. industries.

International trade is different from internal trade as the former _______

(a) involves people of different tribes
(b) involves the use of different currencies
(c) is based on the principles of comparative cost
(d) is usually involved in manufactured products

The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a _______

A. company   B. partnership    C. joint venture   D. cooperative society.

Capital as a factor of production can be used as ________

A. money that is regarded as asset
B. goods that are useful in business
C. input for further production
D. services that provides satisfaction.

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