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WorksheetsCOMMERCE QUIZ
Total questions: 70
Worksheet time: 29mins
Name
Class
Date
1.
The restriction to higher levels of the management hierarchy is what?
a)
Decentralization
b)
Centralization
c)
Span of control
d)
Delegation of authority
2.
Which of the following is an example of Non-negotiable instrument?
a)
Promissory notes
b)
Bill of Lading
c)
Dividend warrants
d)
Bill of exchange
3.
A cheque which is drawn now but bear a future date and it can only be presented for payment on the date written on them?
a)
Stale cheque
b)
Inchoate bill
c)
Certified cheque
d)
None of the above
4.
The downward and upward movement of information within an organization is refer to as _____?
a)
Vertical communication flow
b)
Horizontal communication flow
c)
External communication flow
d)
All of the above
5.
_______ is the starting point or the last station at the end of a railway line.
a)
Freight
b)
Terminus
c)
Haulage
d)
Demurrage
6.
Which of the following is not a feature of central bank?
a)
It is not a set up to make profit.
b)
It is incorporated.
c)
It is established and owned by the government.
d)
There is only one central bank in a country.
7.
Which of the following is not a function of the mortgage banks?
a)
It encourages savings towards house ownership
b)
Lending money to developers for the construction of estates.
c)
Granting of long-term loans for the construction of residential houses.
d)
Preventing the landlord from acquiring certificate of occupancy
8.
What is an amount paid by the chatterer for each day of delay in loading and unloading of goods carried in the ship?
a)
Freight
b)
Terminus
c)
Haulage
d)
Demurrage
9.
Which bank is established mainly to provide long-term finance for various developmental project?
a)
Merchant banks
b)
Development banks
c)
Mortgage banks
d)
Commercial banks
10.
______ Department is responsible for recruitment, selection and training of staffs?
a)
Finance department
b)
Production
c)
Maintenance
d)
None of the above
11.
What is the term used for the money charged for transporting goods by road?
a)
Freight
b)
Terminus
c)
Haulage
d)
Demurrage
12.
______ is a type of crossing on a cheque in which the name of the bank is written across two parallel transverse lines.
a)
Non-negotiable Crossing
b)
Special Crossing
c)
General Crossing
d)
None of the above
13.
____ is a cheque which has been in circulation for an unreasonable period of time?
a)
Overdue cheque
b)
Accommodation cheque
c)
Certified cheque
d)
Old cheque
14.
Which of the following is a basis of granting credit?
a)
Credit worthiness of customers
b)
Personal integrity
c)
Time of payment
d)
All of the above
15.
Which of the following levels of management ensures implementation of the policies to the core?
a)
Strategic level
b)
Tactical level
c)
Operational level
d)
None of the above
16.
What is the power to give orders to people and expect obedience from them?
a)
Power
b)
Responsibility
c)
Authority
d)
Accountability
17.
A bank whose deposits is usually large in amount and equally gives out loans in large amount is ______?
a)
Commercial banks
b)
Development banks
c)
Merchant banks
d)
Mortgage banks
18.
Which of the following is NOT a disadvantage of using a cheque?
a)
It is not suitable for withdrawing small amount.
b)
There is delay in payment
c)
It is limited to savings account holder
d)
Account holder pay additional cost
19.
_____ is the number of subordinates that an executive can effectively manage.
a)
Decentralization
b)
Span of control
c)
Delegation of authority
d)
Centralization
20.
Which of the following factors will determine span of control?
a)
Experience and training of the superior
b)
Emotional factor and temperament
c)
Size of an organization
d)
None of the above
21.
_____is a form of meeting conducted once in a life time of the company’s existence?
a)
Annual General Meeting
b)
Statutory Meeting
c)
Extra-ordinary Meeting
d)
Staff Meeting
22.
Why will a bank dishonoured a cheque?
a)
Irregular signature
b)
Alteration on cheque
c)
Presentation of postdated cheque
d)
All of the above.
23.
Which of the following circumstances will lead to the dissolution of partnership business due to court order?
a)
Mental capacity of any member
b)
Where there is no breach of agreement
c)
Where it is set up for illegal purposes
d)
Where the business can only be carried on at a loss.
24.
A person or institution on which a bill is drawn is known as what?
a)
Drawer
b)
Drawee
c)
Payee
d)
None of the above
25.
______ are places where commercial vehicles are parked for loading and unloading of goods and passengers.
a)
Motor parks
b)
Garage
c)
Dockyard
d)
Terminus
26.
When country’s visible import is lesser than its visible export, it is known as ______?
a)
Balance of payment
b)
Favourable balance of trade
c)
Unfavourable balance of trade
d)
None of the above
27.
Which of the following is not a feature of a cheque?
a)
It is not an order but a request
b)
It is always drawn on a banker
c)
It must be in writing
d)
It is payable on demand
28.
What is the document which contains the internal rules and regulation of the company?
a)
Articles of association
b)
Memorandum of association
c)
Partnership deed
d)
Certificate of incorporation
29.
________ is a document which allows the importer to order goods from the exporter through his agent?
a)
Indent
b)
Waybill
c)
Ship manifest
d)
Bill of lading
30.
Which of this occupation comes under extractive industry?
a)
Cattle-rearing,
b)
Lumbering
c)
Farming
d)
All of the above
31.
What is a form of payment which by law a creditor is compelled to accept in settlement of a debt?
a)
Commodity money
b)
Token money
c)
Legal tender
d)
Bank notes
32.
Which bank is established mainly to provide long-term finance for various developmental project?
a)
Merchant banks
b)
Development banks
c)
Mortgage banks
d)
Commercial banks
33.
_______ is the money paid to the ship owner for hiring his ship to convey goods.
a)
Freight
b)
Terminus
c)
Haulage
d)
Dock
34.
Which of the following is a basis of granting credit?
a)
Credit worthiness of customers
b)
Personal integrity
c)
Time of payment
d)
All of the above
35.
A bank whose deposits are usually large in amount and equally give out loans in large amount is ______?
a)
Commercial banks
b)
Development banks
c)
Merchant banks
d)
Mortgage banks
36.
_____is a document drawn up by the partners, which contains the rules and regulations guiding the business.
a)
Partnership Deeds
b)
Partnership Rules
c)
Partnership Tenet
d)
Partnership documents
37.
Which of the following is an advantage of sole trading business?
a)
It hard to formulate
b)
It shares profit with the outsider
c)
It is free from legal restrictions
d)
Delayed decision making
38.
_____ is a facility which does not require a collateral?
a)
Overdraft
b)
Loan
c)
Debentures
d)
None of the above
39.
_____ is a unit of a company capital allocated to the individuals?
a)
Shares
b)
Debentures
c)
Loan capital
d)
bond
40.
Which of the following is a function of money?
a)
It is not a standard of deferred payment
b)
It is a medium of exchange
c)
It is a unit of value
d)
None of the above
41.
A money whose intrinsic value of the metal, is less than its face value is ____?
a)
Commodity money
b)
Token money
c)
Legal tender
d)
Bank notes
42.
Which of the following will not bring a sole trading business to an end?
a)
Death
b)
Bankruptcy
c)
Insolvency
d)
None of the above
43.
______is NOT a source of capital to the partnership business
a)
Loan
b)
Overdraft
c)
Retained profit
d)
Credit sales
44.
The source of fund which enables a sole trader to withdraw more than his savings from the bank is____
a)
Bank loan
b)
Loan from the government
c)
Bank overdraft
d)
Loan from friends
45.
Which of the following is type of account which allows withdrawal via the use of cheque?
a)
Savings account
b)
Current account
c)
Fixed deposit account
d)
None of the above
46.
Which of the following is not a feature of partnership?
a)
The liability of the partners is limited
b)
It is a legal entity
c)
Quick decision-making
d)
Unlimited Capital
47.
Which of the following circumstances will lead to the dissolution of partnership business due to court order?
a)
Mental capacity of any member
b)
Where there is no breach of agreement
c)
Where it is set up for illegal purposes
d)
Where the business can only be carried on at a loss.
48.
A form of money issued by the central bank with amount of money printed on them is ______?
a)
Commodity money
b)
Token money
c)
Legal tender
d)
Bank notes
49.
What is the reward for entrepreneur?
a)
Interest
b)
Wages and salaries
c)
Rent
d)
Profit or loss
50.
Banks which provides housing loans to individuals and organizations to purchase or build house is ____?
a)
Merchant banks
b)
Development banks
c)
Mortgage banks
d)
Commercial banks
51.
A place where ships are loaded and unloaded and equipment for repairing ships is kept is called_____?
a)
Motor packs
b)
Dockyard
c)
Seaport
d)
Hanger
52.
______ is a type of advertising which tries to convince people to purchase and use a particular product?
a)
Informative Advertising
b)
Persuasive Advertising
c)
Competitive Advertising
d)
Direct Advertising
53.
What is a voluntary association formed by group of people to meet their common economic and social needs?
a)
Partnership
b)
Public corporation
c)
Co-operative society
d)
Trade association
54.
_______ is the starting point or the last station at the end of a railway line.
a)
Freight
b)
Terminus
c)
Haulage
d)
Demurrage
55.
Which of the following is not a function of the mortgage banks?
a)
It encourages savings towards house ownership
b)
Lending money to developers for the construction of estates.
c)
Granting of long-term loans for the construction of residential houses.
d)
None of the above
56.
What is an amount paid by the chatterer for each day of delay in loading and unloading of goods carried in the ship?
a)
Freight
b)
Terminus
c)
Haulage
d)
Demurrage
57.
_____is a business unit owned, managed and controlled by an individual
a)
Sole proprietorship
b)
Co-Operative
c)
Company
d)
Partnership
58.
Which of the following is Not a function of commercial banks?
a)
Acceptance of deposit from the public
b)
Safe keeping of valuables
c)
Issuance of currency
d)
None of the above
59.
What is the commission charged by brokers for the transactions carried on behalf of the investor?
(a)
60.
What is the part of the profit a company distributes to shareholders?
(a)
61.
A person who contributes money to a partnership business and is also involved in its general supervision is called?
a)
Active partner
b)
Limited partner
c)
Dormant partner
d)
Nominal partner
62.
The part of authorized capital of a company sold to shareholders is what?
a)
paid up capital
b)
called up capital
c)
issued capital
d)
nominal capital
63.
What is a postal service that allows a company's customer to reply to its advertisement at the expense of the company?
a)
recorded delivery service
b)
post restante
c)
express delivery service
d)
business reply service
64.
The term consumer sovereignty means what?
a)
seller is the king
b)
product is supreme
c)
buyer is the king
d)
producer is the king
65.
A tax charged in proportion to the value of imported goods is what?
a)
specific duty
b)
ad valorem duty
c)
custom duty
d)
excise duty
66.
A bill of lading is clean because _______
a)
it shows record of damaged goods
b)
it is not a stained bill
c)
it is a document of authority
d)
it shows no record of damaged goods
67.
What is a document given under a seal by a company in acknowledgment of a debt, undertaking to repay the stated sum on or before a certain date?
(a)
68.
(a) is a group of firms working together on a project too large or complex for a single firm to undertake.
69.
The sale and transfer of ownership, control and management of government business is what?
(a)
70.
What is the face to face presentation of a product or service for the purpose of selling?
(a)
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