Gse 301 past question

UNIVERSITY OF ILORIN, ILORIN. NIGERIA

2008/2009 FIRST SEMESTER EXAMINATION

COURSE CODE: GSE 301

COURSE NAME: GRADUATE SELF EMPLOYMENT

COURSE STATUS: COPMULSORY

NUMBER OF CREDITS: 3

INSTRUCTIONS: Answer 50 questions by selecting the appropriate option from

letters A – D

Time Allowed: 50 minutes

1. Which of the following does not include variables that describe small scale business?

A. Turnover scale

B. Sales

C. Machinery = *

D. Project costs

2. The first indigenous administration in Nigeria pursued the programmes of

“processing of raw materials for export” and “import substitution industries” as

industrialization strategies from”

A. 1944 – 1960

B. 1950 – 1960

C. 1954 – 1960=

D. 1960 – 1970

3. In developed economies such as USA, Europe and in the Advanced Asian Tiger

economies such as Malaysia, Indonesia and Thailand, small scale enterprises account

for:

A. 40 to 60% of all employments

B. 25 to 50% of all employments

C. 30 to 505 of all employments

D. 30 to 40% of all employments=

4. A partnership is a type of business where;

A. 2 or more persons (but not more than 30) come together to carry on a business in

common with a view of making profit and sharing thereon.

B. 2 or more persons (but not more than 10) come together to carry on a business in


C. 2 or more persons (but not more than 20) come together to carry on a business in

common with a view of making profit and sharing thereon.=

D. 2 or more persons (but not more than 15) come together to carry on a business in


5. The definition of small scale business varies, depending on:

A. The organization or body=

B. The number of machinery employed.

C. The number of Executives in the business.

D. The structure of the organization of the business.

6. In order to address the problems generated by industrial strategies embarked on by

the Colonial Masters, the first Indigenous Government set before it the task of

development of:

A. Cottage and small scale enterprises.

B. Cottage, small and medium scale businesses.

C. Small and medium scale businesses.

D. Development of small scale enterprise.=

7. A dormant partner or a sleeping partner:

A. is generally known by the public as part of the partnership but does not take active

part in the management of the business but shares in the profit.

B. generally, he is not known by the public as part of the partnership. He does not

take active part in the activities of the business but shares in the profit.=

C. he is not known by the public as part of the partnership. He takes active part in the

activities of the business and shares in the profit.

D. he lends his name to a partnership without any financial contribution. He lends his

name to the partnership for a consideration.

8. The Federal Government of Nigeria in its new industrial policy, defines small scale

enterprise as one with total investment between:

A. N150,000 and N2 million naira (excluding cost of land and capital but including

working capital).

B. N100,000 and N2 million (excluding cost of land and capital but including

working capital).=

C. N100,000 and N2 million (including cost of land and capital but excluding

working capital).

D. N100,000 and N2 million (including cost of land and capital but including

working capital).

9. Which of the foLlowing is not tRue of business partnership?

A. ability to enjoy economies of scale

B. short length of life

C. each of the owners takes responsibility of his actions and inactions=

D. liability of each member of an ordinary partnership is unlimited.

10. In Nigeria, less than:

A. 50%

B. 40%

C. 25%=

D. 35%

of new businesses are successful in providing a high standard of living for the

proprietors and making a significant contribution to solving employment problems.

11. Process of validation of products/service idea involves providing answers to questions

that can be categorized into

A. 4 sections

B. 6 sections=

C. 5 sections

D. 8 sections

12. Which of the following statements is correct?

A. If the technical study is positive, the proposal should proceed to undertake market

study.

B. If the financial study is positive, the proposal should proceed to undertake market

study.

C. If the market study is positive, the proposal should proceed to financial study.

D. if the market study is positive, the proposal should proceed to the technical

study.=

13. Which of the following underlisted items is not part of Current Assets?

A. Raw material

B. Work-in-progress

C. Depreciation=

D. Cash

14. Business partnership can be classified into:

A. 4 kinds

B. 5 kinds=

C. 6 kinds

D. 7 kinds

15. The effects of “Import Substitution Industries” programme became glaringly

manifested in Nigeria economy from:

A. 1970s=

B. 1950s

C. 1960s

D. 1980s

16. Which of the following can not be included as reasons for most business failures in

Nigeria?

A. lack of proper understanding of the market

B. lack of infrastructural facilities

C. inability to separate self from business

D. uncooperative attitudes of employees=

17. Before a would-be proprietor of a business can be said to have given considerable

thought to the business he proposes to embark on, the skill required for the business,

the income he may expect and the market in which he will be operating, he will have

to give positive (YES) answer to most of the quesTions that can bE grouped into

A. 4 main categories

B. 5 main categories=

C. 6 main categories

D. 8 main categories

18. Which of the following is included in Current Liabilities?

A. Term loan

B. Tax=

C. Un-appropriated profits

D. Commercial Bank borrowing

19. In order to determine whether one possesses the characteristics of successful

entrepreneurs, Researchers have raised:

A. 5 main points

B. 8 main points

C. 10 main points=

D. 7 main points

20. Which of the following should be included in projected balance sheet of feasibility

report?

A. projected statement of cash sales and operating expenses.

B. projected cash sales and profit

C. projected statement of what the business will own or owe=.

D Projected Sales

21. Good management is absolutely essential to:

A. Survival of business

B. Successful operation

C. Both small, medium and large businesses

D. All of the above.=

22. Which is not included in the process of managing?

A. Survival=

B. Organizing

C. Controlling

D. Budgeting

23. Planning involves all but one of the following:

A. Cost standard

B. Futuristic

C. Determination of company‟s objective

D. Development of staff=

24. Directing consists of all but one of the following:

A. Communicating

B. Leadership

C. Supervising

D. Planning=

25. One of the following would not influence business development.

A. Improved technology

B. Conducive social environment

C. Stable political economy

D. Implication of state capital.=

26. Marketing concept emphasizes the importance of:

A. Selling

B. Profit maximizing

C. Sales growth

D. Satisfaction=

27. Marketing Research relates to:

A. small business entrepreneur

B. systematic objectives

C. exhaustive search for information

D. all of the above=

28. Products have a life cycle which includes:

A. Birth, growth, decline and death.=

B. Development, physical and decline.

C. Introduction, uses, misuses and death.

D. Name, quality, price and promotion.

29. An entrepreneur in manufacturing needs to know the following about the product and

the market.

A. Product, prices, promotion and distribution.

B. Products, distribution, market and accounting=

C. Product, name brand, promotion and market

D. Communication, prices, publicity and promotion.

30. Information required for marketing research can be obtained from all but one of the

following:

A. Chamber of Commerce.

B. Published data

C. Achieves.

D. All of the above.=

31. The best distribution channels involves

A. Producer Retailer Consumer Agent

B. Producer Wholesaler Retailer Consumer=

C. Producer Consumer Agent

D. Producer Agent Wholesaler Retailer

32. Benefits of publicity include all but one of the following:

A. Obtain favourable presentation about a product

B. Promotes product, persons and ideas.

C. Marketers have full control over publicity.=

D. All of the above.

33. The actors which small scale business relates to includes all but one of the following:

A. Employee=

B. Consumer

C. Banks

D. Government

34. The conditions that an entrepreneur who wants his bank application for loans

approval includes:

A. Presentation of past business history.

B. Provide good evidence that the idea will work.

C. Evidence that the loan will be repaid

D. Only (a) and (b) and (c)=

35. The following factors but one will assists an entrepreneur towards encouraging

employees positively.

A. Providing work in a conducive environment

B. Pay salary and wages as at when due.

C. Encourages spying for the progress of the business.=

D. Respecting the right of employees.

36. One of the following may not be a Federal or state government agency offering

assistance to entrepreneur.

A. IDC

B SMEDAN

C. NURTW=

D. PRODA

37. Which of these bodies may not necessarily relate to business?

A. National Association of Small Scale Industries (NASSI)

B. National Road Union of Workers (NRUW)=

C. Administrative Staff College of Nigeria (ASCON)

D. University of Ilorin.

38. The decision of what to produce is ultimately taken by:

A. Consumer=

B. Directors of companies

C. Government

D. The workers of companies

39. Efficiency of resources use refers to:

A. Amount of output

B. Amount of input

C. The extent to which resources are combined in the most productive manner.=

D. The number of workers employed per hour.

40. A plan in business sense is the same as:

A. Capital

B. Blue print of action=

C. Building construction

D. Supervision.

41. A business plan summaries the …….. and ……… objective of the business.

A. general and specific

B. operational and financial=

C. functional and operational

D. general and operational

42. Knowledge of all, but one of the following disciplines is drawn in business plan

preparation.

A. Accounting=

B. Operations management

C. Finance

D. Marketing

43. Which of these is odd in the list?

A. Services of the business

B. Personnel for the business

C. List your major competitors=

D. Market of the business

44. Financial consideration in business plan will not include information on…..

A. capital expenditure

B. competitors

C. financial information of existing business=

D. introduction of private cash

45. Which of this is odd in the list?

A. Calculate sales=

B. Calculate breakeven in units

C. calculate overhead

D. calculate breakeven in naira and unit per month

46. Breakeven means

A. Equilibrium point

B. Satisfactory selling point

C. No loss point

D. Minimum tolerable level of activities=

47. Breakeven figures can be affected by:

A. Level of sales

B. Change in gross profit

C. All of the above=

D. Any of the two.

48. Cash flow forecast have sections for the items listed except which one?

A. Budget=

B. Payment

C. receipt

D. Purchases

49. The actual columns in the forecast are completed:

A. When the preparer estimates the figure.

B. At the end of the forecast period

C. After estimated transaction is executed=

D. At anytime in the forecast

50. Which of this is odd in the list?

A. Bank facilities

B. trade credit

C. Government agencies

D. term loan=

51. One of the underlisted is not a factor to be considered in choosing a source of finance.

A. Cost to the business

B. Will it expose the business?

C. Availability of funds

D. Is it internal of external?=

52. One of the following may not be readily available to a starting business.

A. Debt financing

B. Internal financing=

C. Equity financing

D. External financing

53. Ability to answer the question will the source affects your decision-making powers‟

…. Refers to

A. Risk

B. Control=

C. Flexibility

D. Availability

54. The easiest means of financing new business is ?

A. Government loan

B. Personal savings=

C. Bank loan

D. Venture capital

55. Overdraft refers to:

A. Use of bank-draft

B. Smallest loan from the bank

C. Debt financing for the small business

D. Withdrawal of more than available balance in one‟s account in the bank=

56. Commercial loan may be given to owner-managers that have integrity if they operate:

A. Current account=

B. Deposit account

C. Saving account

D. Any of the above


A. Bank of Industry

B. Nigeria Agric and Rural Development in Nigeria.

C. Union Bank of Nigeria Plc=

D. National Directorate of Employment.

58. Business control process does not involve

A. Establishing standard

B. Comparing performance with standard

C. Identifying business objectives.=

D. correction of variation

59. Source document provides information

A. That will be sent to bank

B. Posted in the ledger

C. Posted in the balance sheet

D. Recorded in the books of business=

60. Balance sheet shows the

A. details of transaction

B. result of business operation

C. level of control of business

D. financial position of the business=

61. Sales, Purchases and Stock are items in

A. Trading Account=

B. cash Book

C. Balance sheet

D. Profit and Loss Account

62. The different between amount charged to consumer in respect of goods sold and the

amount paid for them including all other expense is?

A. Gross Profit or Loss

B. Net Profit or Loss=

C. Net Loss

D. Gross Profit

63. Which of these statements is not correct of book keeping?

A. Indication of current performance

B. The extent of investment=

C. Provision of information for planning

D. Pointing to potential problems

64. Which account will you not find in the general ledger, in the following list?

A. sales account

B. capital account

C. rent account

D. debtor account=

65. Sales ledger is for account of ……. while purchase ledger is for…..

A. Debtor and credit customers

B. Creditor and credit customer=

C. Credit customer and creditor

D. Sales and purchases

66. Which of these is not a current liability?

A. Creditors

B. Bank overdraft

C. accrued charge

D. Debtor=

67. The decision of what to produce isid ultimately taken by;

A. Consumer=

B. Directors of Companies

C. Government

D. The workers in the factory

68. Efficiency of resources use refers to

A. Amount of output

B. Amount of input

C. The number of workers employed per hour

D. The extent to which resources are combined in the most productive manner.=

69. The needs of individuals in the society are many and varied. This situation has led to

the problem of:

A. How to produce

B. Inefficient use of resources

C. What to produce=

D. When to produce

70. The problem of how to produce arises because

A. resources are limited in supply

B. Human wants are unlimited

C. Resources can be applied in varying degrees=

D. Labour needs to be properly trained.

71. A plan is the same as;

A. Building construction

B. Supervision

C. Blue printprints of action=

D. Growth and development.

72. The process of mobilizing and programming the use of resources with a view to

attaining certain specified objective is referred to as

A. Motivation

B. Organising

C. Staffing

D. Planning =

73. Which of the following is not a reason for planning?

A. Effective and efficient resource allocation

B. Achievement of business objectives

C. Planning has no cost=

D. Planning affects effectiveness

74. The word NDE is

A. Nigeria Defense Engineering Army

B. national department of Education

C. Nigeria Development Enterprises=

D. National Directorate of employment.

75. In business, break even point is a point

A. we make huge profit

B. moderate profit

C. a point not suitable to be=

D. moderate loss=

76. The core and foremost functions of management is

A. Coordinating all activities

B. Planning=

C. Organizing

D. All of the above

77. Market is defined as

A. One geographical region where people buy and sell.

B. The demand and supply of goods and services.

C. A group of people whose interest is to make profit.

D. Any organizational framework which links the buyers and the sellers of a good or

services.=

78. The oldest and simplest form of business organization is

A. Sole proprietor=

B. Partnership

C. Barter trade

D. Co-operative society

79. The title “Social Welfare” means

A. Society well-being

B. Communal fullest satisfaction

C. The sum total of individual welfare=

D. All of the above

80. The role marketing performs includes

A. improving the standard of living of people.

B. enhancing the consumption of goods and services

C. ensuring company growth and continuity


81. Four (4) Ps of marketing includes all but

A. Price

B. Personnel=

C. Product

D. Promotion

82. Product has all but one of the following characteristics

A. Value

B. Consumption

C. Cost=

D. Object

83. Pricing strategy of small business firm should be determined on

A. Possible alternatives

B. Strength and weakness of the firm

C. Advertising campaign

D. All of the above=

84. Services can be distributed to the customers

A. Directly

B. Through intermediaries

C. A and B=

D. None of the above

85. The third party intermediaries are all but

A. A good source of information

B. Provides economies of scale

C. Not source of financial assistance=

D. reduce number of contacts

86. Promotion mix includes

A. sales promotion, advertising and personal selling

B. sales promotion and advertising

C. Personal selling and advertising

D. personal selling, advertising, sales promotion and publicity=

87. The most expensive of promotion mix is

A. Sales promotion

B. Personal selling=

C. Advertising

D. All of the above

88. Suppliers of raw materials for small business expect all but one of the following from

their customers.

A. Buying regularly from them

B. paying them when money is available=

C. Honesty to customer

D. Providing good feedback to them

89. Among the actors in business environment that deserves utmost attention and

consideration is

A. Government

B. Banks

C. Community=

D. Employees

90. The following but one will encourage employees to put their utmost effort at place of

work

A. Conducive working environment

B. treating and respecting them

C. Involving them to spy for the company=

D. paying wages as at when due

91. The small business entrepreneur can benefit from being a member of

A. NACCIMA

B. NASSI=

C. UNIDO

D. CMD

92. Business plan is a document that details the business …… and the means of achieving

them.

A. owners

B. objectives=

C. strategies

D. proposal

93. A business plan is prepared by the ….

A. experts

B. investors

C. both

D. management=

94. ………. focused plans, targets goals that are important to financial stakeholders.

A. External

B. Internal=

C. Both

D. None

95. Knowledge of all, but one of the following disciplines are drawn in business plan

preparation

A. Supply chain management

B. Marketing

C. diplomacy=

D. Human resources management

96. The content of business plan is as……..

A. determined by the goals and audience=

B. prescribed by the checklist

C. prescribed by the owners

D. determined by the expert

97. Some of the background information in business plan include all, but one of this list

A. target market=

B. business address

C. business insurance

D. financial information of existing business

98.In a business plan, if a business premise is rented, state

A. present rent payment

B. date of rent payment

C. date of next payment



A. describe your competitive advantages=

B. describe your product/service strength

C. describe you target market

D. list your major competitor


A. calculate contribution

B. calculate costs=

C. calculate overhead

D. calculate sales to breakeven

101. Contribution is defined as

A. sales less fixed cost

B. sales less overhead cost

C. sales less cost direct=

D. cost divided by sales x 100

102. Breakeven in naira turnover equal

A. overhead/contribution margin=

B. gross profit/contribution X 100

C. contribution/ sales X 100

D. all of the above

103. Breakeven can be affected by all but……

A. level of sales

B. contribution=

C. change in gross profit

D. change in overhead

104. Cash flow forecast does not have sections for……

A. sales

B. payment

C. receipt

D. profit=


A. hire purchase

B. trade credit

C. equipment leasing

D. bank overdraft=

106. Which of these is odd in thetHe list?

A. bank facilities

B. bank overdraft

C. commercial loan

D. term loan=

107. The provider of fund that make money available to new and relatively risky

enterprises is

A. trade creditor

B. franchisor

C. hire purchaser

D. venture capitalist=

108. Ability to answer the question „will the source limit your ability to seek additional

funds‟ …….. refers to

A. risk

B. control

C. flexibility=

D. availability

109. Term loan refers to debt for financing

A. fixed assets acquisition and expansion=

B. repair of broken down machinery

C. general business activities

D. trading activities (buying and selling)

110. An agreement between owner and user that transfer usage but not ownership to

the user is referred to as

A. Franchising

B. Leasing=

C. Hire purchase

D. Venture capital

111. The initial deposit in hire purchase is usually up to

A. 25%=

B. 30%

C. 20%

D. within the range

112. All contributors of equity finance, be it friend, family, acquaintance or venture

capitalist becomes………

A. creditors

B. owners=

C. owner-manager

D. debtors

113. The creation of management system to control business, activities is referred to as

A. Control

B. Internal control=

C. Business control

D. Book keeping for control


A. Sales ledger

B. Cash book

C. General journal=

D. Purchase ledger

115. Net profit is determined in

A. Trading account=

B. Cash book

C. Balance sheet

D. Profit and loss account

116. Wages, salaries and depreciation are items in

A. Trading account

B. cash book

C. Balance sheet

D. Profit and Loss account=

117. The values of raw materials, work in progress and finished goods are contained in

……….

A. Opening stock

B. Opening stock and closing stock=

C. Closing stock

D. none of the above

118. The difference between amount charged to customer in respect of goods sold and

amount paid for the item is

A. Gross profit or Loss=

B. Net profit or Loss

C. Net loss

D. Gross profit

119. General journal can be used for

A. recording sales

B. transfer of account=

C. return inwards goods

D. recording expenses

120. Balance sheet basically comprises of two categories of items which are

A. equity and debt

B. liability and assets=

C. internal and external financing

D. receipt and payment

121. Which of these is not a current asset?

A. creditors

B. bank overdraft

C. accrued charge


122. Which of the following includes variable that describes small scale business?

A. Number of employees=

B. Types of employees

C. Number of machinery

D. Number of buildings

123. After early 1960s, the Nigeria Government pursued the Industrialization

programme of

A. Processing of raw materials for export more vigorously than the programme

of ISIs

B. ISIs more vigorously than programme of processing of raw materials for

export.=

C. ISIs and the programme of exporting of raw materials for export equally.

D. Only the processing of raw materials for export.

124. Which of the following did not include the towns where the Nigerian Government

established projects for producing certain commodities after early 1960s?

A. Ewekoro

B. Enugu

C. Bauchi=

D. Ikeja

125. ----------------------wasteful utilization of productive resources, regional economic

disparities and underemployment were some of the problems generated by the

project established by Nigeria Government:

A. Prior to 1954

B. After early 1960s=

C. after early 1950s

D. Prior to 1960s

126. The defunct National Economic reconstruction Fund (NERFUND) defined SSE

as one with a fixed capital outlay of:

A. N20 million

B. N 30 million=

C. N 15 million

D. N 25 million.

127. Which of the following statements is true or reasonable about Financial

Feasibility Study?

A. It aims to determine the types of accounting records that should be kept by the

project.

B. It aims to quantify in financial term only the data derived from market study

C. It aims to quantify in financial terms only the data derived from technical

study.

D. it aims to quantify the data derived from other areas of feasibility study.=

128. While there are many areas to be covered in feasibility study, depending on the

depth and complexity of the project, the most important areas to be covered are;

A. Four

B. Six

C. Three=

D. Five

129. Which of the following statements is correct or reasonable?

A. If the technical study is feasible, proceed to final area of the most important

areas of the feasibility study.=

B. If the technical study is feasible, proceed to market feasibility study.

C. If the technical study is feasible, proceed to the second stage of feasibility

study.

D. If the technical study is feasible, proceed to the fourth area of the most

important area of the feasibility study.

130. Subject to prevailing objective of the Government policy in 1989, the Federal

Ministry of Industries defined small scale business as one with a Fixed Capital of:

A. N150,000 excluding cost of land but excluding Working Capital.

B. N100,000 excluding cost of land but including Working Capital.

C. N50,000 excluding cost of land but including Working Capital.

D. N500,000 excluding cost of land but including Working Capital.=

131. Which of the following is not a correct or true attribute of SSE?

A. Facilitates flexibility

B. Helps to accelerate industrial dispersal

C. Offers a very good avenue for mobilization of domestic savings for

investment.

D. Facilitates the ability to enjoy the economies of scale.=

132. In developed economies such as USA, Europe and in the advanced Asian Tiger

economies such as Malaysia, Indonesia and Thailand, cottage, medium and large

scale business account for:

A. 40% of all employment

B. 70% of all employment

C. 50% of all employment

D. 60% of all employment=

133. Which of the following is not part of total project costs in feasibility study?

A. Contingency during the construction period.

B. Cost of factory maintenance=

C. Interest during construction period (if loan is taken)

D. Preliminary expenses (e. g. Formation expenses, Traveling expenses and

Hotel expenses before the project takes of)

134. Which of the following is not true of the needs or reasons for validation of

product/service idea?

A. To reduce the possibility of failure of the proposed project.

B. To enable the would-be proprietor determine the exact amount of profit he

will realize from the proposed project.=

C. To give more thought to be problems the would-be proprietor will likely face

and to prevent some of the worst from happening.

D. To give the would-be proprietor better appreciation of his business sense,

management abilities and deficiencies.

135. Which of the following can be attributed to most small-scale business failure in

Nigeria?

A. Tying available capital to building cozy offices and furnishing =

B. High cost of imported raw material

C. lack of adequate raw materials

D. Heavy taxation

136. Which of the following is not included in the categories of questions that a would-

be proprietor should provide positive (yes) answers to before it can be said that he

has given considerable thought to the proposed business, his skills, the cost and

income he may expect and the market in which he will be operating?

A. What the business will cost and what money will you receive from the

business?

B. How about a partner and your customer?

C. Are you a person who should start the proposed project or service single-

handed?

D. What year to start operating the proposed project or business?=

137. The definition of small-scale business in the

A. Urban centre is different from that of rural areas in Lagos State.

B. South Eastern part of the country is slightly different from that of South

Western part of the country.

C. Rural area of Kwara State is completely different from that of the urban

centers.

D. Entire country depends only on the types of organization or bodies.=

138. Which of the following was the Industrial Strategy embarked on by the first

indigenous Government in Nigeria?

A. Processing of raw material for export

B. Processing of semi-finished goods for export

C. Import Substitution Industry

D. Processing of raw materials for export and Import Substitution Industry.=

139. Which of the following statements is not true or reasonable of business

partnership?

A. It is not possible for a partner to entire into a contract on behalf of the

partnership which then becomes binding on the rest of the partners.

B. It is possible for a partner to enter into only economic contract which becomes

binding on the rest of the partners.

C. It is not possible for a partner to entire into a purchasing contract on behalf of

the partnership which then becomes binding on the rest of the partners.

D. It is possible for a partner to enter into contract on behalf of the partnership

which becomes binding on the rest of the partners.=

140. Which of the following is not part of the question that one must provide answer to

in order to determine whether one possesses the characteristics of a successful

entrepreneur?

A. Are you a good organizer?

B Can you make good decision?

C. Are you diplomatic?=

D. Can you stay the course?

141. Microsoft started as;

A. SSE before it grew into a large company=

B. Medium scale Enterprise before it grew up into a large company

C. Cottage business before it grew overtime into a large company

D. Started as a large company

142. The Federal Government Industrial policy of 1999 definition of SSE is one in

which the total outlay does not exceed

A. N2 million excluding the cost of land=

B. N3 million excluding the cost of land

C. N2 million excluding the cost of land but including Working Capital

D. N1 million excluding the cost of land

143. Which of the following can not be said to be part of the effects of ISIs programme

from 1970s?

A. Decline in Gross Domestic Product

B. Substantial increase in importation of raw materials

C. Higher cost of production in SSI sector relative to imported goods.

D. Substantial increase in importation of machinery.=

144. Which of the following is true or reasonable comment about feasibility study?

A. Financial study is the final part of feasibility study=

B Production study is part of the most important areas of feasibility study.

C. Market study is the second area of the most important areas of feasibility

study.

D. Market study comes after technical study in feasibility study.

145. In 1972, the Federal Ministry of Industries defined small scale business as one

with a fixed capital of;

A. N50,000 =

B. N100,000

C. N1 million

D. N150,000

146. What appellation will you give a partner who takes active part in the affairs of the

enterprise but not known by the public as part of the business?

A. Nominal partner

B. Secret partner=

C. Dormant partner

D. Silent partner.

147. The needs of individuals in the society are many and varied. This situation add to

the problem of:

A. What to produce=

B. Inefficient use of resources

C. When to produce

D. How to produce

148. Marketing emphasizesconcert emphasis the importance of:

A. Selling

B. Sales growth

C. Satisfaction=

D. Profit maximizing

149. Process of validation of products/service idea involves providing answers to

questions that can be categorized into

A. 4 sections

B. 8 sections

C. 5 sections

D. 6 sections=

150. The creation of management system to control business, activities is referred to as

A. Business control

B. Control

C. Internal control=

D. Book keeping for control

UNIVERSITY OF ILORIN, ILORIN, NIGRIA

2008/2009 HAMATAN SEMESTER EXAMINATION

ANSWER TO THE OBJECTIVE QUESTIONS

GSE 301

S/N

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.

21.

22.

23.

24.

25.

OPTI

ON

C

C

D

C

A

D

B

B

C

C

B

D

C

B

A

D

B

B

C

C

D

A

D

D

D

S/N

26.

27.

28.

29.

30.

31

32.

33.

34.

35.

36.

37.

38.

39.

40.

41.

42.

43.

44.

45.

46.

47.

48.

49.

50.

OPTI

ON

D

D

A

B

D

B

C

A

D

C

C

B

A

C

B

B

A

C

C

A

D

C

A

C

D

S/N

51.

52.

53.

54.

55.

56.

57.

58.

59.

60.

61.

62.

63.

64.

65.

66.

67.

68.

69.

70.

71.

72.

73.

74.

75.

OPTI

ON

D

B

B

B

D

A

C

C

D

D

A

B

B

D

B

D

A

D

C

C

C

D

C

D

C

S/N

76

77

78

79

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

100

OP

TIO

N

B

D

A

C

D

B

C

D

C

C

D

B

B

C

C

B

B

D

B

C

A

A

D

A

B

S/N

101

102

103

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

OPTI

ON

C

A

B

D

D

A

D

C

A

B

A

B

B

C

A

D

B

A

B

B

D

A

B

C

B

SN

126

127

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

146

147

148

149

150

B

D

C

A

D

D

D

B

B

A

D

D

D

D

C

A

A

D

A

A

B

A

C

D

C

Documents

Gse 301 past question