BUS 102 CBT PRACTICE TEST

Ace/Undergragra July 29, 2023

0 843 1 minute read

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Take your time to read instructions before taking this test.

There are 40 questions which you are to answer in 15 minutes that gives you roughly 30 seconds per question.

If you can get at least 60%, you can be rest assured that you’ll ace BUS 102 exam

In a normal exam you will be asked between 40 – 60 questions but I only arranged 40 questions

Note

Do not be in a hurry to answer the questions

Do not waste time on a question you don’t know

Move as fast as possible and starting with questions that don’t have calculation first to save time

Always crosscheck

Don’t be in a hurry to submit, you are not in a competition

Don’t be scared. Getting an A is easy

Don’t be over confident, you can end up a D, E or F. Calm your blood, no be only you sabi book

Please do well to use our comment box incase there’s a message you want to pass to us

70 – 100 A

60 – 69 B

50 – 59 C

45 – 49 D

40 – 44 E

0 – 39 F

I wish you success

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289

Created on July 29, 2023 By

Ace/Undergragra

BUS 102

1 / 40

1. __________ type of business is the oldest type of business in Nigeria

A. Corporate trade

B. Stake Holders

C. Sole trade

D. Partnership trade

2 / 40

2. ______ is the transfer of business ownership from Public or Government to Individual

A. Private administration

B. Indigenization

C. Privatization

D. Commercialization

3 / 40

3. ____replaced NEPD

A. NEPB

B. NEFC

C. NEPA

D. ECOWAS

4 / 40

4. According to NEPB, Enterprises are classified into how many schedules

A. 5

B. 2

C. 6

D. 3

5 / 40

5. _______ is the value that products and sellers place on goods or services.

A. Supply

B. Demand

C. Price

D. Production

6 / 40

6. Privatization ensures efficiency of business

A. True

B. False

7 / 40

7. In large organizations people work together as a

A. Division

B. Unit

C. Areas

D. Department

8 / 40

8. Cash account or cash book is a part of _____.

A. Accounting

B. Balance sheet

C. Balance

D. Ledger

9 / 40

NEPD was established

A. 1988

B. 1952

C. 1972

D. 1934

10 / 40

10. ____Is the the department responsible for Sales of goods and services of the business

A. Production

B. Marketing

C. Transport

D. Distribution

11 / 40

11. NEPB has the following objectives except

A. Transfer more wealth to Nigerians

B. Improve Import Substitution

C. Explore local. market and trade

D. Transfer Business to Indigenes

12 / 40

12. ____partner is one who is not actually a partner but who allows his name to be used in the partnership

A. Sleeping

B. Active

C. Nominal

D. Inactive

13 / 40

13. Which of these is not a major functional Area in a Business Organization

A. Personnel Department

B. Finance Department

C. Marketing department

D. Research Department

14 / 40

14. The aim of NEPD and NEPB is .......

A. Fund raising

B. Privatization

C. Commercialization

D. Indigenization

15 / 40

15. _________ is made up of trade and all activities that make trade possible.

A. Factories

B. Corporate trade

C. Commerce

D. Companies

16 / 40

16. Which of these is not a reason why government is involved in business

A. Political reasons

B. Security reasons

C. Monopoly

D. Lack of information

17 / 40

17. Which of these is a barrier to International Trade

A. Difference in currency

B. Sufficient capital

C. Education

D. Training

18 / 40

18. ....is that policy of making government business Profit oriented

A. Commercial trade

B. Commercialization

C. Trade

D. Market analysis

19 / 40

19. What is the full meaning of NEPD

A. Nigeria Entrepreneurship Programme Decree

B. Nigeria Enterprise Production Board

C. Nigeria Enterprises Promotion Decree

D. Nigeria Entrepreneurship Promotion Decree

20 / 40

20. Which department is response for procurement and allocation of funds

A. Human resources department

B. Research department

C. Finance department

D. Audit department

21 / 40

21. Government can serve as regulator and ......... to business

A. Fund raiser

B. Facilitator

C. Adviser

D. Lender

22 / 40

22. ________ shows departments and their responsibility

A. Organization Structure

B. Organization divison of labour

C. Organizational Charts

D. Organization Goals

23 / 40

23. Which of these is not a reason why business go abroad

A. Increase profit and sales

B. Government force the business

C. Domestic markets are small

D. Create new market

24 / 40

24. ......is the study of transactions taking place across national borders

A. Forecasting

B. International Trade

C. Internal Business

D. Foreign Affairs

25 / 40

25. The following are regulating roles of government except

A. Controlling the quality of goods and services by administering quality control tests

B. Setting up laws that govern the establishment and operation of business enterprises

C. Assisting in the research and development of new products or raw materials through government research institutes

D. Controlling if prices to arrest inflationary trend

26 / 40

26. .........is the type of trade which involves two or more countries

A. Domestic trade

B. Foreign entrepreneurship trade

C. Foreign trade

D. Investment trading

27 / 40

27. A ___ partner is that who is active in the affairs of the business but not known to the public as a partner.

A. Active

B. Secret

C. Inactive

D. Nominal

28 / 40

28. _______ use resources to be able to perform their functions

A. Companies

B. Organizations

C. Factories

D. Plants

29 / 40

29. ....... department is responsible for receiving money from. debtors and payment to creditors

A. Production

B. Strategic Planning

C. Accounting

D. Transport

30 / 40

30. ____ is defined as an organization in which line authority,staff authority and functional authority exist together.

A. Organizing

B. Functional organization

C. Directing

D. Authority

31 / 40

31. The following are social responsibilities of business except

A. Provision of infrastructure

B. Creation of job opportunities

C. Management and funding of other competitors

D. Sales of economically priced goods

32 / 40

32. What is the full meaning of UAC?

A. United Automatic Corporation

B. United African Company

C. Unity African Company

D. Unity African Organization

33 / 40

33. Which of these is not in schedule 1 of enterprise classification

A. Hair dressing

B. Brick making

C. Candle making

D. Construction

34 / 40

34. __________ is undertaken by entrepreneur consciously and unconsciously.

A. Marketing Research

B. Marketing

C. Money

D. Business

35 / 40

35. Which of these is not a regulatory role of government to business

A. Provision of Loans and Grants

B. Controlling Quality of Products

C. Setting up rules and regulations

D. Controlling Prices

36 / 40

36. International Trade is divided into how many

A. 6

B. 3

C. 5

D. 2

37 / 40

37. The following are the influences of government on business except

A. The government plays the role of regulator and facilitator

B. The government constitutes the smallest consumer of some businesses

C. The government provides incentives and tax holiday

D. The government constitutes the single largest institutional consumer of most goods and services

38 / 40

38. __________ can be rules or guiding principles of a community.

A. Public sector

B. Public Administration

C. Public Policy

D. Public enterprise

39 / 40

39. Is the process of making government owned business profit Oriented

A. Commercialization

B. Investment decision

C. Business profit analysis

D. Commercial

40 / 40

40. _______department is concerned with determining consumer's need and wants

A. Research

B. Finance

C. Personnel

D. Marketing

Your score is

The average score is 66%

Please do well to drop a comment if this has really helped you. Thanks❤️

Ace/Undergragra July 29, 2023

0 843 1 minute read

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