Hello and Welcome to UTME CBT FREE Practice Test - Commerce You are to attempt 40 Random Objectives Questions ONLY for 30 minutes. Supply Your Full Name in the text box below and begin immediately. Your time starts NOW! Full Name (Surname First): The process of transferring data from one computer to another is referred to as ______ (a) downloading (b) faxing (c) decoding (d) browsingABCD The assembling of products into usable forms is known as ________ A. manufacturing B. creation C. construction D. formation.ABCD 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.ABCD The instruments of credit include ______ A. bills of exchange and promissory notesB. bill boards and Postal stampsC. bills of exchange and salary vouchersD. payment vouchers and statement of account.ABCD The focal point of marketing is ______ A. profit-making B. sales C. the buyer D. the competitor.ABCD 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 equalABCD 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 enterprisesB. will be at the core of the enterprisesC. can mobilize foreign currency equivalent to the value of the enterprisesD. has the technical know-how of the enterprises.ABCD As the branches indicates, iv is ______ A. finance B. commerce C. construction D. exchange.ABCD The government’s policy thrust on the business environment is to ______ A. increase production B. promotion exports C. attract investors D. be self-sufficient.ABCD 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.ABCD 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 daysB. 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 daysD. 4% discount will be allowed on the price charged only if the goods are bought within seven days.ABCD Securities on which the buyers are not issued with certificates are called ______ A. authorized securities B. inscribe securities C. bearer securities D. registered securities.ABCD A source of short-term finance to companies is ______ A. debentures B. retained earnings C. corporate tax D. share capital.ABCD 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.ABCD Entrepreneurship mainly involves _______ A. knowledge B. risk-taking C. initiating D. skilled manpower.ABCD The concept that refers to the sale, transfer is exchange of goods and services is ______ A. tariff B. marketing C. trade D. industry.ABCD A functional structure is an organizational structure in which ______ A. there is no hierarchyB. abstract rules are appliedC. equity prevailsD. a specialist enforces his directives.ABCD 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.ABCD 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 commandABCD 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.ABCD International trade takes place as a result of ______ A. similarities in climatic conditionsB. uniformity in costs of productionC. inequitable distribution of natural resourcesD. parity in the level of industrialization.ABCD A common element in all contracts is _______ A. consideration B. agreement C. offer D. acceptance.ABCD Which of the following is a quality of money? (a) availability (b) scarcity (c) convertibility (d) indivisibilityABCD 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 countryABCD Debentures differ from shares in that ______ A. they are secured on the company’s assetsB. ownership is open to the publicC. they form part of the capital of the businessD. rewards are usually paid out of profit.ABCD One of the services rendered by NITEL is ________ (a) courier service (b) photo-telegram service (c) banking service (d) business reply serviceABCD 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 individualsABCD The slogan, a wonderful world, used by a communication network is a form of ______ (a) packaging (b) publicity (c) product differentiation (d) persuasive advertisingABCD An ancillary to trade that easily links suppliers with consumers is ______ (a) tourism (b) banking (c) transportation (d) communicationABCD Communication process involves the transmission of a message over a selected channel to the ____ A. encoder B. receiver C. audience D. sender.ABCD 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, 500ABCD Money can simply be referred to as a _______ A. standard of valueB. medium of exchangeC. means for the settlement of debtsD. durable asset for doing business.ABCD The protection of consumers against exploitation by manufacturers is to ensure ______ A. increase in production capacityB. increase in the level of consumer awarenessC. that the right quality of goods and services is soldD. that there are varieties of products.ABCD 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.ABCD A retail cooperative aims at _____ A. hoarding manufacturing goodsB. cutting off the profit of middlemenC. lending money to members at low interest ratesD. encouraging members to save money.ABCD The location of a business is mostly influenced by ______ A. management decision B. capital C. environment D. market outletABCD A group of companies is a collection of ______ A. subsidiaries and their holding companyB. firmsC. associates and their holding companyD. industries.ABCD 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 productsABCD 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.ABCD Capital as a factor of production can be used as ________ A. money that is regarded as assetB. goods that are useful in businessC. input for further productionD. services that provides satisfaction.ABCD1 out of GREAT! 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