POST UTME BELLS UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A sole trader is a type of business organization that is owned and managed by one person. Which of the following is a characteristic of a sole trader?
A. Limited liability
B. Unlimited liability
C. Separation of ownership and management
D. No separation of ownership and management
Question 2
A company uses a marketing mix of 4Ps: product, price, promotion, and place. Which of the following is NOT one of the 4Ps?
A. Product
B. Price
C. Promotion
D. Packaging
Question 3
A company is considering the introduction of a new product line. What is the primary consideration for the company in terms of marketing?
A. The potential profit margins of the new product line
B. The potential risks and liabilities associated with the new product line
C. The potential impact of the new product line on the company's reputation
D. The potential competition from existing products in the market
Question 4
A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the number of labor hours, and K is the capital invested. If the company wants to produce 100 units of output, and it has 100 labor hours available, how much capital should it invest?
A. ₦1000
B. ₦500
C. ₦2000
D. ₦2500
Question 5
A company uses a marketing mix of 4Ps: product, price, promotion, and place. Which of the following is NOT one of the 4Ps?
A. Product
B. Price
C. Promotion
D. Packaging
Question 6
A company is considering the introduction of a new product line. What is the primary consideration for the company in terms of warehousing and stock control?
A. The potential profit margins of the new product line
B. The potential risks and liabilities associated with the new product line
C. The potential impact of the new product line on the company's reputation
D. The potential competition from existing products in the market
Question 7
A company is considering two production options: one that involves producing 10,000 units and another that involves producing 20,000 units. If the company expects a 10% increase in production costs for the first option and a 5% decrease in production costs for the second option, what is the net change in production costs?
A. 5%
B. 10%
C. 15%
D. 20%
Question 8
A company's sole trader has a business bank account with a credit balance of ₦25,000. If the sole trader withdraws ₦15,000 for personal use, what is the new balance in the account?
A. ₦10,000
B. ₦20,000
C. ₦25,000
D. ₦30,000
Question 9
A company is considering the introduction of a new product line. What is the primary consideration for the company in terms of consumer protection?
A. The potential profit margins of the new product line
B. The potential risks and liabilities associated with the new product line
C. The potential impact of the new product line on the company's reputation
D. The potential competition from existing products in the market
Question 10
A consumer purchases a product for ₦5,000 and pays a 5% sales tax. How much does the consumer pay in total?
A. ₦5,250
B. ₦5,250.00
C. ₦5,250.00
D. ₦5,250.00
Question 11
A firm's marketing strategy involves a combination of advertising, sales promotion, and public relations. Which of the following is NOT a primary objective of advertising?
A. To inform customers about the product's features and benefits
B. To persuade customers to buy the product
C. To create brand awareness
D. To increase the product's price
Question 12
A company's revenue function is given by R = 20Q - 2Q^2, where R is the total revenue and Q is the quantity sold. If the company sells 5 units of output, what is the total revenue?
A. ₦80
B. ₦90
C. ₦100
D. ₦110
Question 13
A company is accused of engaging in unfair trade practices. What is the primary responsibility of the consumer protection agency in this scenario?
A. To investigate the allegations and gather evidence
B. To prosecute the company for breach of the Consumer Protection Act
C. To provide education and awareness to consumers about unfair trade practices
D. To negotiate a settlement between the company and the consumer
Question 14
A company's sole trader has a business bank account with a credit balance of ₦25,000. If the sole trader withdraws ₦15,000 for personal use, what is the new balance in the account?
A. ₦10,000
B. ₦20,000
C. ₦25,000
D. ₦30,000
Question 15
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current input levels are L = 4 and K = 9, what is the marginal product of labor?
A. 1.5
B. 2
C. 2.5
D. 3

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