POST UTME EKSU 2024 Commerce | Objective

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Question 1 View Details
A company's sole trader has a business income of ₦1,500,000 and business expenses of ₦800,000. What is the profit before tax?
Correct A. ₦700,000
B. ₦1,000,000
C. ₦1,200,000
D. ₦1,500,000

Correct Answer: A

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Question 2 View Details
A firm's foreign trade involves exporting goods worth ₦5,000,000 to a foreign country. If the exchange rate is 1 USD = ₦450, what is the value of the exported goods in USD?
Correct A. 11,111.11
B. 11,111.11
C. 11,111.11
D. 11,111.11

Correct Answer: A

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Question 3 View Details
A company's insurance policy has a deductible of ₦50,000 and an excess of ₦20,000. If the total claim is ₦200,000, what is the amount paid by the insurance company?
Correct A. ₦130,000
B. ₦140,000
C. ₦150,000
D. ₦160,000

Correct Answer: A

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Question 4 View Details
A firm's warehouse has a capacity of 10,000 units. If the current stock level is 8,000 units and the firm receives a new shipment of 2,000 units, what is the new stock level?
A. 6,000
B. 8,000
C. 10,000
Correct D. 12,000

Correct Answer: D

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Question 5 View Details
A company's sole trader has a business income of ₦1,500,000 and business expenses of ₦800,000. What is the profit before tax?
Correct A. ₦700,000
B. ₦1,000,000
C. ₦1,200,000
D. ₦1,500,000

Correct Answer: A

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Question 6 View Details
In a perfectly competitive market, the law of supply states that as the price of a good increases, the quantity supplied will
A. decrease
Correct B. increase
C. remain constant
D. move in the opposite direction

Correct Answer: B

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Question 7 View Details
A company's financial statements show that its revenue has increased by 15% and its cost of goods sold has increased by 10%. What is the new gross profit margin?
A. 5%
Correct B. 10%
C. 15%
D. 20%

Correct Answer: B

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Question 8 View Details
A firm is considering two investment projects. Project A has a 5-year payback period and requires an initial investment of ₦1,000,000. Project B has a 3-year payback period and requires an initial investment of ₦500,000. Which project has a higher net present value?
A. Project A
Correct B. Project B
C. Both projects have the same net present value
D. Neither project has a higher net present value

Correct Answer: B

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Question 9 View Details
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units and has a lead time of 5 days. What is the safety stock level?
A. 1,000 units
B. 2,000 units
Correct C. 3,000 units
D. 4,000 units

Correct Answer: C

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Question 10 View Details
A firm is considering exporting its products to a foreign market. The firm has a fixed cost of ₦500,000 and a variable cost of ₦200 per unit. The selling price in the foreign market is ₦300 per unit. What is the minimum number of units the firm must sell to break even?
A. 1,000 units
Correct B. 2,000 units
C. 3,000 units
D. 4,000 units

Correct Answer: B

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Question 11 View Details
A sole trader's business is considered a separate legal entity from its owner. True or False?
A. True
Correct B. False
C. Depends on the jurisdiction
D. Not applicable in Nigeria

Correct Answer: B

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Question 12 View Details
A company's Memorandum and Articles of Association are filed with the _______________ in Nigeria.
Correct A. Corporate Affairs Commission (CAC)
B. Federal Inland Revenue Service (FIRS)
C. National Industrial Court (NIC)
D. National Assembly

Correct Answer: A

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Question 13 View Details
A bank's core function is to act as a _______________ between its customers.
A. agent
B. broker
C. trustee
Correct D. fiduciary

Correct Answer: D

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Question 14 View Details
The _______________ is the primary means of transportation in Nigeria.
A. railway
Correct B. road
C. waterway
D. airway

Correct Answer: B

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Question 15 View Details
A warehouse's primary function is to provide _______________ for goods.
A. security
Correct B. storage
C. transportation
D. insurance

Correct Answer: B

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Question 16 View Details
Determine the value of x in the equation ( 2x + 5 = 11 ) using the method of substitution.
Correct A. 6
B. 7
C. 8
D. 9

Correct Answer: A

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Question 17 View Details
The diagram below represents a simple circuit with a battery, a resistor, and a switch. If the switch is closed, what is the direction of the current flow?
Correct A. From the battery to the resistor
B. From the resistor to the battery
C. In a circular motion around the circuit
D. No current flows

Correct Answer: A

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Question 18 View Details
A company has a profit of ₦250,000 and an investment of ₦500,000. What is the return on investment (ROI) in percentage?
Correct A. 50%
B. 60%
C. 70%
D. 80%

Correct Answer: A

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Question 19 View Details
Solve the inequality ( 2x - 5 > 3 ) using the method of addition.
Correct A. x > 4
B. x < 4
C. x > 2
D. x < 2

Correct Answer: A

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Question 20 View Details
The diagram below represents a simple graph showing the relationship between two variables. What is the slope of the line?
A. 2
Correct B. 3
C. 4
D. 5

Correct Answer: B

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Question 21 View Details
A company is considering the implementation of a just-in-time (JIT) inventory system. What is the primary advantage of JIT inventory system?
Correct A. Reduced inventory costs
B. Improved product quality
C. Increased production efficiency
D. Enhanced customer satisfaction

Correct Answer: A

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Question 22 View Details
A firm has a warehouse with a capacity of 10,000 units. The firm receives an order for 5,000 units. What is the minimum number of bins required to store the order?
Correct A. 2 bins
B. 3 bins
C. 4 bins
D. 5 bins

Correct Answer: A

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Question 23 View Details
A company has a production capacity of 1,000 units per day. The company operates 5 days a week. What is the total production capacity per week?
Correct A. 5,000 units
B. 4,000 units
C. 3,000 units
D. 2,000 units

Correct Answer: A

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Question 24 View Details
A firm has a transportation cost of ₦100 per unit. The firm receives an order for 1,000 units. What is the total transportation cost?
Correct A. ₦100,000
B. ₦120,000
C. ₦150,000
D. ₦180,000

Correct Answer: A

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Question 25 View Details
A company has a production cost of ₦500 per unit. The company produces 1,000 units per day. What is the total production cost per day?
Correct A. ₦500,000
B. ₦600,000
C. ₦700,000
D. ₦800,000

Correct Answer: A

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