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Commerce Post UTME Past Questions | Olabisi Onabanjo University (OOU)

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Question 1

The type of activity which turns processed raw materials into consumer and industrial goods is described as


A) extractive

B) manufacturing

C) constructive

D) processing

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Question 2

A company earned a total revenue of =₦=108 million with a total cost of =₦=91 million in 1991. If it paid 4596 tax on its gross profit for that year, determine its net profit.


A) =₦= 24.65 million

B) =₦= 17.00 million

C) =₦= 9.35 million

D) =₦= 7.65 million

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Question 3

The production process that combines two or more raw materials into one end product is


A) conditioning

B) blending

C) merging

D) synthesis

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Question 4

Sole enterprise may flourish best in


A) a mining business

B) a retailing business

C) an oil exploration business

D) a car assembly business

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Question 5

A demonstration of social responsibility by a business is the payment of


A) taxes to government

B) dividends to shareholders

C) interest on loans

D) premium for insurance

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Question 6

The difference between the total payments for imports and the receipts from exports within a given period is referred to as


A) balance of payments

B) balance of trade

C) comparative cost advantage

D) comparative advantage

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Question 7

A distinguishing characteristic of a limited liability company is that it


A) is a collection of many sole proprietors

B) is a multiple partnership

C) can sue and be sued

D) has limited resources

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Question 8

Which of the following statements is TRUE about sea transport?


A) all ships have specific routes to ply

B) all ships must be insured at every journey

C) all ships are insured separately from the crew

D) all ships normally arrive at their destination with goods

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Question 9

Which of the following takes place when firms producing at different stages in the same industry combine?


A) conglomeration

B) vertical integration

C) horizontal integration

D) cartel

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Question 10

Goods discharged from ships on which import duties have not been paid are kept in the


A) ordinary warehouse

B) public warehouse

C) private warehouse

D) bonded warehouse

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