2018 OOU Commerce Post-UTME
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Question 1 of 50
1. Question
The type of activity which turns processed raw materials into consumer and industrial goods is described as
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Question 2 of 50
2. Question
A company earned a total revenue of ₦108 million with a total cost of ₦91 million in1991. If it paid 45% tax on its gross profit for that year, determine its net profit.
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Question 3 of 50
3. Question
The production process that combines two or more raw materials into end product is
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Question 4 of 50
4. Question
Sole enterprise may flourish best in
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Question 5 of 50
5. Question
A demonstration of social responsibility by a business is the payment of
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Question 6 of 50
6. Question
The difference between the total payment for imports and the receipts from exports within a given period is referred to as
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Question 7 of 50
7. Question
A distinguishing characteristic of a limited liability company is that it
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Question 8 of 50
8. Question
Which of the following statements is TRUE about sea transport?
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Question 9 of 50
9. Question
Which of the following takes place when firms producing at different stages in the same industry combine?
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Question 10 of 50
10. Question
Goods discharged from ships on which import duties have not been paid are kept in the
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Question 11 of 50
11. Question
NACCIMA stands for
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Question 12 of 50
12. Question
What are the factors with which commercial undertakings can be distinguished?
I. Size of the undertaking
II. Profits generated
III. Forms of ownership
IV. Location of the undertaking
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Question 13 of 50
13. Question
For the establishment of a powerful consumers’ association in Nigeria to exist, there must be
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Question 14 of 50
14. Question
The merger of two companies producing the same type of products is an example of
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Question 15 of 50
15. Question
Which of the following is the most important business resource?
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Question 16 of 50
16. Question
In the case of a voluntary liquidation of a business, the receiver is appointed by the
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Question 17 of 50
17. Question
Which of the following makes other functions of business its appendages?
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Question 18 of 50
18. Question
The nominal value of a share as specified in the Memorandum of Association and the share certificate is the
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Question 19 of 50
19. Question
The use of computers in modern banking industry is a reflection of
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Question 20 of 50
20. Question
A public limited company an raise long term loans through
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Question 21 of 50
21. Question
RRF as a scheme introduced by the Central Bank of Nigeria means
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Question 22 of 50
22. Question
The breaking down of a market into separate and identifiable elements each with its own special product requirement is known as market
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Question 23 of 50
23. Question
Which of the following gives the correct order in which the listed documents are used?
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Question 24 of 50
24. Question
When an industry or company is nationalized, the state becomes
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Question 25 of 50
25. Question
Freight note is a document
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Question 26 of 50
26. Question
Motivation is an essential element in Management because it
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Question 27 of 50
27. Question
The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
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Question 28 of 50
28. Question
The business organization in which shareholders have equal votes is
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Question 29 of 50
29. Question
A major liability of a commercial bank arises from
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Question 30 of 50
30. Question
A term indicates that a share is temporarily suspended is
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Question 31 of 50
31. Question
The most important piece of legislation governing business and commercial activities in Nigeria currently is the
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Question 32 of 50
32. Question
The existing system of governance and the administrative sub-divisions of a country is described as
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Question 33 of 50
33. Question
One of the criteria for differentiating consumer markets from industrial ones is the
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Question 34 of 50
34. Question
If a firm’s turnover is ₦15,000 and the cost of goods sold is ₦1o,000, what is the percentage of gross profit on sales?
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Question 35 of 50
35. Question
The overriding objective of the Food and Drug Act in Nigeria is to prevent the
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Question 36 of 50
36. Question
The assets, liabilities and general management of a distressed bank may be taken over by
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Question 37 of 50
37. Question
The activities of consumers association in Nigeria have not been effective because
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Question 38 of 50
38. Question
I. companies must be registered as private limited liability companies
II. Companies must have not less than 100 shareholders
III. No shareholder may have more than 75% of issued share capital
Which of the above are requirements for admission into the second-tier securities market?
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Question 39 of 50
39. Question
The least of the advantages of indigenization is that
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Question 40 of 50
40. Question
An underlying principle in the marketing of goods is that firms should
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Question 41 of 50
41. Question
An example of consumer protection agency is the
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Question 42 of 50
42. Question
The ordinary shareholders enjoy the following rights EXCEPT the right to
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Question 43 of 50
43. Question
The body that organizes, promotes and participates in local and foreign trade fairs is the
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Question 44 of 50
44. Question
Commerce makes it possible for man to live in a ______
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Question 45 of 50
45. Question
The main function of the thrift, credit and loans co-operative societies is to
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Question 46 of 50
46. Question
Which of these sets of external environmental factors affect a business operation?
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Question 47 of 50
47. Question
Management is described as
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Question 48 of 50
48. Question
The ECOBANK is the initiative of
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Question 49 of 50
49. Question
Under normal circumstances, a business enterprise can be ideally structured
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Question 50 of 50
50. Question
Shares can be forfeited for
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