Practice Post UTME BELLS UNIVERSITY commerce 2023 Past Questions

Question 1

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

Correct D. To increase the product's price

Correct Answer: D

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Question 2

A company is considering two different transportation modes to move its products from the factory to the warehouse. Mode A involves using a truck, while Mode B involves using a train. Which of the following is a disadvantage of Mode A?

A. Higher fuel consumption

B. Lower transportation cost

Correct C. Increased risk of accidents

D. Longer travel time

Correct Answer: C

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Question 3

A firm's warehousing and stock control system involves the use of a first-in, first-out (FIFO) inventory management system. Which of the following is a disadvantage of this system?

A. It is easy to implement and maintain

B. It assumes that the oldest items in the inventory are sold first

C. It is more expensive than other inventory management systems

Correct D. It is not suitable for perishable items

Correct Answer: D

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Question 4

A company is considering exporting its products to a foreign market. Which of the following is a factor that affects the company's decision to export?

A. The company's production costs

B. The company's marketing strategy

Correct C. The foreign market's demand for the product

D. The company's financial resources

Correct Answer: C

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Question 5

A bank's financial services include a variety of products and services, such as loans, credit cards, and investment advice. Which of the following is a type of loan that a bank may offer?

A. Personal loan

B. Business loan

C. Home loan

Correct D. All of the above

Correct Answer: D

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Question 6

A company is considering two marketing strategies: one that focuses on social media advertising and another that focuses on influencer marketing. If the company expects a 20% increase in sales from social media advertising and a 15% increase from influencer marketing, what is the total expected increase in sales?

A. 35%

B. 40%

Correct C. 45%

D. 50%

Correct Answer: C

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Question 7

A warehouse has a storage capacity of 10,000 units. If 30% of the capacity is already occupied, and the warehouse is receiving a new shipment of 1,500 units, what is the new percentage of capacity occupied?

A. 40%

B. 45%

Correct C. 50%

D. 55%

Correct Answer: C

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Question 8

A company is considering two transportation options: one that costs ₦50 per unit and another that costs ₦75 per unit. If the company needs to transport 5,000 units, what is the total cost of transportation if the company chooses the first option?

Correct A. ₦250,000

B. ₦300,000

C. ₦350,000

D. ₦400,000

Correct Answer: A

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Question 9

A company is considering two trade options: one that involves exporting goods to a foreign country and another that involves importing goods from a foreign country. If the company expects a 20% increase in revenue from exporting and a 15% decrease in revenue from importing, what is the net change in revenue?

A. 5%

B. 10%

Correct C. 15%

D. 20%

Correct Answer: C

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Question 10

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%

Correct B. 10%

C. 15%

D. 20%

Correct Answer: B

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Question 11

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

Correct B. ₦20,000

C. ₦25,000

D. ₦30,000

Correct Answer: B

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Question 12

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

Correct B. ₦20,000

C. ₦25,000

D. ₦30,000

Correct Answer: B

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Question 13

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

Correct B. ₦20,000

C. ₦25,000

D. ₦30,000

Correct Answer: B

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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

Correct B. ₦20,000

C. ₦25,000

D. ₦30,000

Correct Answer: B

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Question 15

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

Correct B. ₦20,000

C. ₦25,000

D. ₦30,000

Correct Answer: B

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Question 16

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

Correct C. ₦2000

D. ₦2500

Correct Answer: C

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Question 17

A firm's cost function is given by C = 2Q^2 + 10Q + 5, where C is the total cost and Q is the quantity produced. If the firm produces 10 units of output, what is the total cost?

A. ₦150

B. ₦200

C. ₦250

Correct D. ₦300

Correct Answer: D

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Question 18

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

Correct C. ₦100

D. ₦110

Correct Answer: C

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Question 19

A firm's profit function is given by P = R - C, where P is the total profit, R is the total revenue, and C is the total cost. If the firm's revenue function is R = 20Q - 2Q^2 and its cost function is C = 2Q^2 + 10Q + 5, what is the total profit when Q = 5?

A. ₦50

B. ₦60

C. ₦70

Correct D. ₦80

Correct Answer: D

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Question 20

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

Correct C. ₦2000

D. ₦2500

Correct Answer: C

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Question 21

In a perfectly competitive market, the law of diminishing marginal utility leads to a decrease in the marginal utility of the last unit consumed. What is the consequence of this decrease on the demand curve?

A. The demand curve shifts to the left.

B. The demand curve shifts to the right.

Correct C. The demand curve remains unchanged.

D. The demand curve becomes perfectly inelastic.

Correct Answer: C

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Question 22

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

Correct B. 2

C. 2.5

D. 3

Correct Answer: B

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Question 23

A company has a portfolio of assets with the following returns: Asset A: 8%, Asset B: 12%, Asset C: 6%. If the company allocates 30% of its portfolio to Asset A, 40% to Asset B, and 30% to Asset C, what is the expected return on the portfolio?

A. 9%

Correct B. 10%

C. 11%

D. 12%

Correct Answer: B

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Question 24

A firm's cost function is given by C = 2L + 3K. If the firm's current input levels are L = 4 and K = 9, what is the total cost?

A. 38

Correct B. 40

C. 42

D. 44

Correct Answer: B

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Question 25

A company has a production function given by Q = 2L^0.5K^0.5. If the company wants to increase its output by 20%, what is the required increase in the input levels?

A. 10%

B. 15%

Correct C. 20%

D. 25%

Correct Answer: C

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