UTME COMMERCE QUIZE

Compulsory dissolution of a business can arise from

an agreement by the owners

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a declaration by a court of law

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the termination of its life

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an unfavourable economic climtate

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Governments impose import duties for the following reasons EXCEPT

to raise revenue for other services

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to act as a retaliatory measure against other governments

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to discourage the redistribution of income at home

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to protect home industries from external competition

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Sole enterprise may flourish best in

a mining business

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a retailing business

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an oil exploration business

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a car assembly business

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Commerce is defined as the study of how

man utilizes the resources in his physical environment

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man produces, distributes and consumes his goods and services

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man buys, sells and distributes goods and services

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raw materials are changed into finished goods

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

extractive

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manufacturing

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constructive

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processing

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

conditioning

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blending

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merging

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Synthesis

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

Taxes to government

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dividends to shareholders

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interests on loans

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premium on insurance

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A distinguishing characteristics of a limited liability company is that it

is a collection of many sole proprietors

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is a multiple partnership

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can sue and be sued

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has limited resources

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

conglomeration

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vertical integration

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horizontal integration

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Cartel

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Which of the following groups is paid first when a firm liquidates?

Preference shareholders

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Debenture holders

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Ordinary shareholders

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Cumulative preference shareholders

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UTME COMMERCE QUIZE

UTME COMMERCE QUIZE

Thomas Bamidele January 26, 2024

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