MOUNTAIN TOP UNIVERSITY
COLLEGE OF HUMANITIES, MANAGEMENT AND SOCIAL SCIENCES
DEPARTMENT OF BUSINESS ADMINISTRATION
SECOND SEMESTER EXAMINATION 2016/ 2017 SESSION
COURSE: IPM 104: BUSINESS, GOVERNMENT AND SOCIETY
TIME ALLOWED: 1 HOUR
INSTRUCTION: ANSWER ALL QUESTIONS
(1) Organizations are
(a) Developed from birth
(b) Created by God
(c) Rationally conceived
(d) Created by the state
(2) Resources available to organizations are
(a) Human resource, material resources, technology and financial resources
(b) Time, cultural, technology and raw materials
(c) Financial resource, traditional, material resources and human resource
(d) All of the above
(3) Organizations produce
(a) Goods and services
(b) Goods and social institution
(c) Services and human beings
(d) None of the above
(4) Society is made up of ______main institutions
(a) 3 institutions
(b) 6 institutions
(c) 5 institutions
(d) 4 institutions
(5) ______institution solves the basic economic problems in society
(a) Family
(b) Political
(c) Economic
(d) Religion
(6) The institutions in society are
(a) Interlocking
(b) Interloose
(c) Interdependent
(d) Interacting
(7) ______is a regulator in society
(a) Firm
(b) Nigerian Breweries Plc
(c) Government
(d) Auto mechanic association
(8) Businesses in Nigeria are registered by
(a) Corporate Alliance Committee
(b) Corporate Appeal Commission
(c) Corporate Affairs Commission
(d) Corporate Army Commission
(9) ______is the basic unit in societies
(a) Political institution
(b) Family institution
(c) Military institution
(d) Education institution
(10) Society is made up of
(a) Homogeneous and heterogeneous
(b) Simple and complex
(c) Traditional and modern
(d) All of the above
(11) There are two types of organization
(a) Formal and local
(b) Informal and modern
(c) Formal and informal
(d) None of the above
(12) Organizations are made up of the following
(a) Individuals, groups and structure
(b) Individuals, society and structure
(c) Society, goods and structure
(d) All of the above
(13) To get things done in an organization the following must be analyzed
(a) Why, how, when and where
(b) Where, how far, when and how much
(c) When, how long, how good and where
(d) All of the above
(14) Organizations are created with
(a) Goals and perspectives
(b) Goals and methods
(c) Goals and objectives
(d) Goals and problems
(15) Organizations consist of group of people with
(a) Common problems and common interest
(b) Common interest and common methods
(c) Common purpose and common interest
(d) Common resources and common objectives
(16) Organizations are ______that provide means of working with others to achieve goals
(a) Social structure
(b) Social systems
(c) Social change
(d) Social institutions
(17) Organizations function with ______that are established to achieve goals and objectives
(a) Inter-dependent machines
(b) Inter-dependent human beings
(c) Inter-related technology
(d) Inter-connected organizations
(18) The key resource in any organization is
(a) Financial resource
(b) Natural resource
(c) Material resource
(d) Human resource
(19) Knowledge and skills in society can be acquired in
(a) Family institution
(b) Religion institution
(c) Education institution
(d) All of the above
(20) Businesses are created to provide
(a) Leisure for people
(b) Needs of the people
(c) Solve people emotional problems
(d) Confront government on public policy
(21) Nigeria has ______economic system
(a) Planned
(b) Mixed
(c) Capitalist
(d) A and B
(22) Which of the following type of business are the owners compelled to publish the Annual Financial Report
(a) Sole trader
(b) Partnership
(c) Limited liability company
(d) All of the above
(23) The document which spells out the operation in a partnership is referred to as
(a) Article of partnership
(b) Deed of partnership
(c) Corporate affairs document
(d) Partnership operation document
(24) A major problem of the sole proprietor is
(a) Purchase of goods and services
(b) Funding
(c) Scarcity of personnel
(d) Development of a feasibility study
(25) ______is a regulatory body in the business environment
(a) National University Commission
(b) Joint Admission and Matriculation Board
(c) Central Bank of Nigeria
(d) A and C
(26) When a company has the sole right to produce certain goods or provide certain service, it is called
(a) Monogoly
(b) Monopoly
(c) Oligopoly
(d) Government organization
(27) Succession planning is a major problem in
(a) Partnership
(b) Sole proprietor
(c) Limited liability company
(d) All of the above
(28) The government plays ______role in the business environment
(a) Whistle blower
(b) Regulatory
(c) Banker
(d) Producer
(29) Salary earners pay tax to the government in form of
(a) Sales tax
(b) Company tax
(c) Withholding tax
(d) Pay As You Earn (PAYE)
(30) Registration of businesses in Nigeria is handled by
(a) Government
(b) Bankers
(c) Corporate Affairs Commission
(d) Stock Exchange Commission
(31) ______are the challenges of managing businesses in Nigeria
(a) Multiple taxation
(b) High cost of capital
(c) Unstable government policies
(d) All of the above
(32) Delay in the approval and implementation of budget in Nigeria is
(a) Part of the development of the nation
(b) Challenge of managing businesses
(c) Will make business develop fast
(d) Will enhance management decision
(33) ______is among the challenges of managing businesses in Nigeria
(a) Inadequate manpower
(b) Lack of managerial skills
(c) High inflation
(d) Poor education
(34) Business refer to an entity providing
(a) Wants of the people
(b) Structures for the people
(c) Fashion of the people
(d) Needs of the people
(35) Without ______business will fail
(a) Structure
(b) Capital
(c) Loans
(d) Raw materials
(36) Society is a network of _____ composed of ideas, institutions and material things.
(a) Human relations
(b) Structures
(c) Inanimate things
(d) Materials
(37) ______is the structure and processes in society that authoritatively make and apply policies and rules
(a) Business
(b) Government
(c) Human resource
(d) Religion
(38) Organizations are deliberately established to achieve
(a) Aims
(b) Goals
(c) Profits
(d) Money
(39) A business operates, taking into consideration it internal and ______environment
(a) Outside
(b) Competitive
(c) External
(d) Regulatory
(40) United States of America has a ______economic system
(a) Modern
(b) Capitalist
(c) Mixed
(d) Communist
(41) The following are the environment in which businesses operate except one
(a) Monetary environment
(b) Economic environment
(c) Technological environment
(d) Cultural environment
(42) ______environment consists of forces that influence market operation
(a) Technological environment
(b) Economic environment
(c) Cultural environment
(d) All of the above
(43) In Nigeria, the high exchange rate has ______impact on businesses
(a) Favourable
(b) Investment friendly
(c) Negative
(d) No impact
(44) Modern technology is expected to ______the operations of businesses
(a) Enhance
(b) Inhibit
(c) Negatively affect
(d) None of the above
(45) The cultural environment includes all the following except
(a) Shared knowledge
(b) Values
(c) Norms
(d) Misunderstanding between groups
(46) Culture is said to be the
(a) Total way of life of the people
(b) Total norms of the people
(c) Total roles of the people
(d) Total values of the people
(47) ______environment consists of legislation, regulation and litigation
(a) Economic environment
(b) Legal environment
(c) Technological environment
(d) None of the above
(48) Man has little of no control over one of the environment below
(a) Legal environment
(b) Economic environment
(c) Natural environment
(d) Technological environment
(49) Business internal environment consists of all below except one
(a) Managers
(b) Employees
(c) Owners
(d) Government
(50) ______is a key resource in an organization
(a) Capital
(b) Human resource
(c) Land
(d) Machinery
(51) Corporate social responsibility can take the following forms except
(a) Legal responsibility
(b) Economic responsibility
(c) Philanthropic responsibility
(d) Market responsibility
(52) Corporate social responsibility is the duty of ______to create wealth in ways that avoid harm to, protect or enhance societal asset
(a) Government
(b) Military
(c) Corporations
(d) Associations
(53) The idea behind corporate social responsibility is that organizations have _____ that go beyond lawful execution of their economic functions
(a) Duties
(b) Assignments
(c) Operations
(d) None of the above
(54) In Nigeria, corporate social responsibility is
(a) Voluntary
(b) Compulsory
(c) Relative
(d) Forgotten
(55) Organizations involved in corporate social responsibility can use it to
(a) Boost their image
(b) Attack their competitors
(c) Attack the government
(d) Attack international community
(56) Corporate social responsibility is a
(a) Benefit to the community
(b) Benefit to the organization
(c) Benefit to the government
(d) All of the above
(57) Corporate social responsibility is a
(a) Social investment by organizations
(b) Social drain for organizations
(c) Social problem to the community
(d) All of the above
(58) Communities where organizations operate can be referred to as
(a) Stakeholders
(b) Shareholders
(c) Power brokers
(d) All of the above
(59) When organizations are involved in corporate social responsibility, they are said to be exhibiting
(a) Corporate style
(b) Corporate behaviour
(c) Corporate planning
(d) Corporate financing
(60) Through corporate social responsibility, organizations can solve
(a) Social change
(b) Social stratification
(c) Social problems
(d) Social interactions
(61) _____ is the study of good and evil, right and wrong, just and unjust actions in businesses
(a) Corporate social responsibility
(b) Business ethics
(c) Business management
(d) All of the above
(62) Ethical tradition that applies to business include all except one
(a) Telling the truth
(b) Honesty
(c) Protection of life
(d) Making profit
(63) Organizations keep to ethical values in relation to
(a) Internal and external environment
(b) External environment only
(c) Internal environment only
(d) Global environment only
(64) Organizations with strong ethical values will attract
(a) Good employees
(b) Government support
(c) Community support
(d) All of the above
(65) ______system will sanction organizations that operate below the ethical standards
(a) The regulatory bodies
(b) Community
(c) Workers
(d) Trade unions
(66) Organizations involved in the award of scholarship is said to be involved in
(a) Philanthropic responsibility
(b) Legal responsibility
(c) Cultural responsibility
(d) Environmental responsibility
(67) Organizations involved in corporate social responsibility are said to be
(a) Corporate citizens
(b) Corporate liabilities
(c) Corporate providers
(d) All of the above
(68) _____ is among the challenges of businesses in Nigeria
(a) Good managerial skills
(b) Corruption
(c) Lack of markets
(d) All of the above
(69) Institutions in society function
(a) Inter-dependently
(b) Inter-connectively
(c) Inter-relatedly
(d) All of the above
(70) A business owner involved in buying and selling of simple commodities can be classified as
(a) Sole trader
(b) Partnership
(c) Limited liability company
(d) None of the above
IPM 104 ANSWERS
(1) C
(2) A
(3) A
(4) C
(5) C
(6) C
(7) C
(8) C
(9) B
(10) D
(11) C
(12) A
(13) A
(14) C
(15) C
(16) B
(17) B
(18) D
(19) C
(20) B
(21) B
(22) C
(23) B
(24) B
(25) C
(26) B
(27) B
(28) B
(29) D
(30) C
(31) D
(32) B
(33) C
(34) D
(35) B
(36) A
(37) B
(38) B
(39) C
(40) B
(41) A
(42) B
(43) C
(44) A
(45) D
(46) A
(47) B
(48) C
(49) D
(50) B
(51) D
(52) C
(53) A
(54) A
(55) A
(56) D
(57) A
(58) A
(59) B
(60) C
(61) B
(62) D
(63) A
(64) D
(65) A
(66) A
(67) A
(68) B
(69) D
(70) A