VOTE 2020

IYIOLA SHEFIU FOR MSA PRESIDENT

EMMANUEL OYADOKUN FOR MSA FINANCIAL SECRETARY

UKACHI WISDOM FOR BSA PRESIDENT

BUS 221
TEST QUESTIONS (1-50)
(1) An organisation can be defined as;
(a) Economic arrangement for achieving controlled performance in pursuit of collective
goals.
(b) Business arrangement for achieving controlled performance in pursuit of collective goals.
(c) Social arrangement for achieving controlled performance in pursuit of collective goals.
(d) Structural arrangement for achieving controlled performance in pursuit of collective
goals.

(2) Business may be;

(a) Profit oriented or non-profit oriented
(b) Governmental or non-governmental
(c) non- profit oriented
(d) Profit oriented

(3) Feedback is very important to a business because;

(a) It is used to produce goods
(b) Make the organisation profitable
(c) It is used to make adaptive changes in order to survive
(d) Make the organisation increase output

(4) Which of the following business organisation has unlimited liability;

(a) Sole proprietorship and partnership
(b) Partnership
(c) Limited liability company and cooperative society
(d) Limited liability and partnership
(5) OPEC was established in what year?
(a) 1959 (b) 1960 (c) 1975 (d) 1957

(6) ECOWAS was established in what year?

(a) 1959 (b) 1960 (c) 1975 (d) 1957

(7) Tax charged on goods and services leaving the country is called;
(a) Exercise tax
(b) Excise tax
(c) Ad valorem tax
(d) Import duty

(8) The gathering of information about forces that affects the organisation is called;
(a) Environmental scanning
(b) Planning and forecasting
(c) Swot analysis
(d) Environmental study

(9) The nomenclature for external environment is;

(a) Delphi
(b) None of the above
(c) Operating environment
(d) Internal environment

(10)External environment is also known as;

(a) Specific environment
(b) Broad environment
(c) internal environment
(d) global environment

(11) An internal factor that are advantages to a firm is known as;

(a) strengths
(b) opportunities
(c) weakness
(d) threats
(12) An external factor that are advantages to a firm is known as;
(a) strength
(b) weakness
(c) threat
(d) opportunities

(13) Which of the following is not a member of Northern America Free Trade Agreement
(NAFTA)?
(a) USA
(b) Mexico
(c) Puerto rico
(d) Canada

(14) Advantages of globalisation are all except one.

(a) Access to diversified goods and services
(b) Access to diversified raw materials
(c) Access to diversified market
(d) Access to diversified labour

(15) Efficiency and effectiveness are used in;

(a) Productivity
(b) Organisation
(c) Goals
(d) Planning

(16) The difference between a multinational and conglomerate is that;

(a) Conglomerate produces variety of product while multinational do not.
(b) Multinational has branches in different countries while conglomerate is located in a
single place.
(c) Multinational produce variety of product while conglomerate do not.
(d) None of the above

(17) Bio-diversity is a;
(a) Economic factor
(b) Ecological factor
(c) Ethical factor
(d) Socio-cultural factor
(18) In STEEPLE the third E stands for;
(a) Economic factor
(b) Economy factor
(c) Ethical factor
(d) Ecological factor

(19) Government regulation on business includes all but one;

(a) Cost of compliance
(b) Enact laws
(c) Make policies
(d) Make policies and enact laws only.

(20) which of the following are stakeholders concerned in the CSR of a firm?
(a) Investor, employees, government
(b) All of the above
(c) Customers, public, government, investor, employees
(d) Investor, suppliers, public, society

(21) Which of the following countries are members of NAFTA?

(a) America, Britain and Mexico
(b) America, Britain, Canada and Mexico
(c) America, Mexico and Britain
(d) America, Canada and Mexico

(22) The following are key stake holders in the private sector environment?
(a) Investors
(b) Creditors
(c) Government
(d) None of the above

(23) The process of re-organising a state owned enterprise to enable it operates more
profitably under watch of the government is called;

(a) Liberalisation
(b) Commercialisation
(c) Privatisation
(d) Indigenisation
(24) A future statement about an organisation is;
(a) Objective statement
(b) Mission statement
(c) Vision statement
(d) Budget statement

(25) The sum total of all factor that can directly or indirectly affect the performance of a
business
is known as;
(a) Business organisation
(b) Business environment
(c) Business surrounding
(d) Business operation

(26) One of the following is an importance of privatisation

(a) Increase in production
(b) Understand the micro environment
(c) Sustained economic growth
(d) All of the above

(27) Which factors takes place in the socio-cultural environment.

(a) Ecological factor
(b) Economic factor
(c) Ethical factor
(d) Economy factor

(28) Which of the following are external factors in business environment?

(a) Opportunities and threats
(b) Strengths and weakness
(c) Opportunities and strengths
(d) Weakness and threats

(29) The process where by government hand over the ownership of a state owned
enterprise to private individuals or firms is called;
(a) Commercialisation
(b) Privatisation
(c) Liberalisation
(d) Globalisation
(30) One of the following is a regional bloc;
(a) International Monetary Fund
(b) International Labour Organisation
(c) World Trade Organisation
(d) Economic Community of West African States

(31) The advent of iPod saw an increase in the downloading of music from the internet,
which is an effect of which dimension of the external environment.

(a) Socio-cultural

(b) Global

(c) Technological

(d) Economic

(32) Which of the following do government provide to assist firms to cope with cost of
production?

(a) Broadband internet

(b) Resources

(c) Foreign exchange

(d) Subsidies

(33) Which of the following is known as internal/external (IE) Matrix?

(a) Pareto analysis

(b) PESTLE analysis

(c) Swot analysis

(d) Industry analysis

(34) What does the first E stand for in STEEPLE?

(a) Economic environment

(b) Ecological environment

(c) Ethical environment

(d) Ethnic environment

(35) Social efficiency can also be called;

(a) Social utopia

(b) Social optimum

(c) None of the above

(d) Social utilisation

(36) A model can be most appropriately defined as;

(a) A representation of reality which may be expressed in graphical, physical or

mathematical terms.

(b) A representation of reality which may be expressed in graphical.

(c) A representation of reality which may be expressed in mathematical forms.

(d) A representation of reality which may be expressed in graphical or mathematical terms.

(37) Macys is popular department store in the United States but does not have many
outlets in other countries. A few years ago, it would have been impossible for you to buy
goods from the control of your home in Nigeria form Macys in the United States.

However _____________has made this process easy and possible?

(a) Multinational enterprises

(b) Economic trade

(c) Globalisation

(d) Liberalisation

(38) The following are arguments in favour of privatisation except;

(a) To encourage government participation and interest in state owned enterprise

(b) To improve the efficiency of state owned enterprises

(c) To reinforce technological development and innovative capacity of state owned

enterprise

(d) To increase the participation of the private sector in the economy

(39) Salary level falls under what environment

(a) Socio cultural environment

(b) Economic environment

(c) Technological environment

(d) Political environment

(40) Political/legal environment shows the relationship between ___and _____

(a) Business and law

(b) Business and government

(c) Law and government

(d) Law, Policies and government

(41) A country is said to have comparative cost advantage if;

(a) It can produce more at lower cost

(b) Use huge resources in production of goods and services

(c) Produce more goods and services using it maximum resources

(d) all of the above

(42) Which of the following is not a characteristic of the business environment?

(a) Relativity

(b) Employees
(c) Dynamic

(d) Unpredictable

(43) In the PEST frame work for environmental analysis, what does the letter E stands for;

(a) Ethical

(b) Economic

(c) Educational

(d) Ecological

(44) Analysing process of change in the Business environment involves conceptualizing it as

(a) Diverse

(b) Complex

(c) Dynamic

(d) Static

(45) Which one of the following cannot be included under the nature of relationship between
business and environment?

(a) Inter dependence

(b) Dynamic

(c ) Social change

(d) Fixed

(46) External Environment of Business is ------

(a) Physical

(b) Demographical

(c ) Economic

(d) All of these

(47) Physical Environment includes-----

(a) Natural Resources

(b) Climate

(c) Water

(d) All of these

(48) Natural Environment Includes-------------

(a) Water

(b) Earth

(c) Air

(d) All of these

(49) The Economic environment of a business includes?

(a) Economic system

(b) Economic policies

(c ) Economic conditions

(d) All of these

(50) Which of the following is not an essential feature of social environment?

(a) Competitiveness

(b) Respect for the individual

(c ) Better quality of life

(d) Bailment

WAIT WAIT WAIT WAIT WAIT ONE MORE QUESTION!!!

WAIT WAIT WAIT WAIT WAIT ONE MORE QUESTION!!!
Who will win MSA president, MSA Fin sec and BSA president 2020 election;
(A) Mc carthy and Daniel Lukeman
(B) Iyiola Shefiu, Oyadokun Emmanuel and Ukachi Wisdom
(C) James Abiodun and Williams kings
(D) Ibrahim Marney and Segun Larney

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Compiled by Ukachi Wisdom E. (2019) copy right.

Email address: ukachiwizdom@gmail.com