OBAFEMI AWOLOWO UNIVERSITY ILE-IFE 2014 POST-UTME SCREENING TEST

1. Which of the following is not a function of commerce? a. advertising goods b. increasing profit made c.creation of goods d. distribution of goods

2. Paper money originated in form of receipts is given by a. traders b. goldsmiths c. money lenders d. thrift society

3. Which of the following does not determine the form of a business unit? a.capitalavailability b.ownership
c. nearness to the market d. nature of business

4. Abuse of monopoly power by industrialists could lead to a.privatization b.commercialization c. indigenization d. nationalization

5. Business mergers are on the increase these days for the main purpose of a. having more directors b. organizing trade fairs and exhibitions c. enjoying advantages of large scale activities d. easy settlement of disputes among businessmen

6. A machine which enables sales without the physical presence of a sales attendant is a (a. computer machine b.vending machine c. fax machine d. teiex machine

7. A distinctive advantage of GSM is it’s a. mobility b. cost c. stability d. coverage

8. The computer that functions by taking discrete numbers and performing mathematical calculations is called
a. mainframe b. analogue c. hybrid d. digital

9. The most dangerous pollution is a. soil pollution b. air pollution c.noise pollution d. water
pollution

10. The fixed and current assets of a business are called a. called-up capital b. capital employed c. paid up d.authorized capital

11. The main factors militating against the rapid growth of trade in Nigeria are a inadequate transportation of network and huge capital outlay b. lack of motivation and government attitude towards trade c. lack of good transportation network and insecurity d. huge capital outlay and government attitude to trade

12. Tourists with no fixed address in a town may receive their letters from the post office through a a. recorded delivery b. poste restante c. parcel post. d. postmaster

13. A demonstration of social responsibility by a business is the e-payment of a. taxes to the government b.premium for insurance c. dividend to shareholders d. interest on loans

14. A sole proprietor insured his goods worth N200,000 for half the value. There was a fire incident in which the goods valued N80,000 were destroyed. The value of compensation expected from the insurer is a. N40,000 b. N80,000 c. N200,000 d. N100,000

15. Which of the following insurance principles will prevent someone from claiming compensation? a. insurance interest b. indemnity c. proximate cause d. utmost good faith

16. The use of coin-operated machines to sell goods is a form of a. personal selling b. retailing c. wholesaling d. mail-order selling

17. For the establishment of a powerful consumers’association in Nigeria to exist, there must be a. financial and moral support from the public b. honest and committed leadership c. allocation of goods from producers d. freedom from external influence

18. Drawing two parallel line across a cheque means that it has to be paid into the account of the a. payee b.drawer c. drawee d. payer

19. Which combination of the below are the basic requirements of business resources? i. money and machines ii.Materials and money iii. Market and mean iv. Materials and money a. land ii b ii and iii c.l and iv d. ii and
iv

20. The creation of utilities to satisfy human wants is reffered to as a, production b. consumption c.industrialization d.occupation

21. In the permanent storage device, DASD means a. data access storage device b. data access systems device
c. direct access systems device d. direct access storage device

22. A major disadvantage of the privatization policy is that a. the economy would be the private sector
b. citizens would benefit less from government c. more money would be brought into circulation d. government would lose control of the economy

23. Unlimited liability in business implies that the a. risk of the owner is limited only to the amount invested
b. debts are paid in subventions c. property of the owner should not be used to secure loans d. owners private property ,can be used to settle business debts

24. An announcement of a persons willingness to enter into a contact is referred to as a. a proxy b. an offer c.a consideration d. an acceptance

25. The selling of new shares to existing shareholders is referred to as a. public issue b. offer to sale c.right issue d. bonus issue

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