POST UTME FUTA 2019 Commerce | Objective

Prepare for your exams with POST UTME FUTA questions? Reviewing past/model questions is one of the most effective ways to guarantee a high score. This practice hub features authentic 2019 Commerce (Objective) questions designed to simulate the real exam environment.

Practice these randomly selected questions to test your readiness.

Question 1 View Details
In a sole proprietorship, the owner's personal assets are
Correct A. liable for all business debts
B. liable for business debts but not personal assets
C. not liable for business debts
D. liable for business debts but not personal assets and vice versa

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 2 View Details
The process of evaluating the effectiveness of a marketing campaign is known as
A. Market Research
B. Market Analysis
C. Market Segmentation
Correct D. Return on Investment (ROI)

Correct Answer: D

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 3 View Details
A company's financial statements are audited by
A. The company's management
B. The company's board of directors
Correct C. An independent auditor
D. The company's shareholders

Correct Answer: C

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 4 View Details
The diagram below shows a simple inventory control system. Identify the component labeled 'A'.
Correct A. Warehouse
B. Inventory
C. Shipping
D. Receiving

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 5 View Details
A company's marketing strategy involves creating a brand identity that is unique and memorable. This is an example of
A. Market Segmentation
B. Market Research
C. Market Analysis
Correct D. Brand Positioning

Correct Answer: D

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 6 View Details
The concept of comparative advantage in international trade suggests that a country should specialize in producing goods for which it has a lower opportunity cost compared to another country. What is the opportunity cost of a country that specializes in producing a good for which it has a comparative advantage?
Correct A. The opportunity cost is the value of the next best alternative good that could have been produced.
B. The opportunity cost is the value of the next best alternative good that could have been produced, but not consumed.
C. The opportunity cost is the value of the next best alternative good that could have been produced, but not consumed, and not traded.
D. The opportunity cost is the value of the next best alternative good that could have been produced, but not consumed, and not traded, and not imported.

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 7 View Details
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's labor and capital inputs are 4 and 9 respectively, what is the firm's output?
A. 25
B. 30
Correct C. 35
D. 40

Correct Answer: C

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 8 View Details
A consumer's indifference curve is given by U = 2x + 3y. If the consumer's income is 100 and the prices of x and y are 5 and 10 respectively, what is the consumer's optimal bundle?
A. x = 10, y = 5
Correct B. x = 15, y = 3
C. x = 20, y = 2
D. x = 25, y = 1

Correct Answer: B

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 9 View Details
A firm's demand function is given by Q = 100 - 2P. If the firm's marginal revenue is 50, what is the firm's price?
A. 20
B. 30
Correct C. 40
D. 50

Correct Answer: C

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 10 View Details
A consumer's budget constraint is given by 2x + 3y = 100. If the consumer's indifference curve is given by U = 2x + 3y, what is the consumer's optimal bundle?
A. x = 20, y = 10
Correct B. x = 15, y = 15
C. x = 10, y = 20
D. x = 5, y = 25

Correct Answer: B

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 11 View Details
A firm specializes in producing only one product. This is an example of
A. Product diversification
Correct B. Product specialization
C. Market segmentation
D. Target marketing

Correct Answer: B

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 12 View Details
A company's production process involves the transformation of raw materials into finished goods. This is an example of
A. Production
Correct B. Manufacturing
C. Service delivery
D. Marketing

Correct Answer: B

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 13 View Details
A firm's warehouse is used to store raw materials, work-in-progress, and finished goods. This is an example of
A. Raw materials storage
B. Work-in-progress storage
C. Finished goods storage
Correct D. All of the above

Correct Answer: D

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 14 View Details
A company's financial statements include the balance sheet, income statement, and cash flow statement. These statements are used to
A. Evaluate the company's financial performance
B. Assess the company's liquidity position
C. Determine the company's profitability
Correct D. All of the above

Correct Answer: D

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 15 View Details
A bank's primary function is to act as a financial intermediary between savers and borrowers. This is an example of
A. Deposit-taking
B. Loan-making
C. Investment
Correct D. All of the above

Correct Answer: D

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 16 View Details
A commercial bank's primary function is to act as a _______ between savers and borrowers.
Correct A. financial intermediary
B. investment advisor
C. insurance provider
D. tax collector

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 17 View Details
The _______ of a product refers to the process of creating a new product or service that meets the needs of a target market.
Correct A. development
B. production
C. marketing
D. distribution

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 18 View Details
A _______ is a contract between a buyer and a seller where the buyer agrees to buy a product or service at a fixed price.
Correct A. purchase order
B. sales order
C. invoice
D. proforma invoice

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 19 View Details
The _______ of a product refers to the process of creating a new product or service that meets the needs of a target market.
Correct A. development
B. production
C. marketing
D. distribution

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 20 View Details
A _______ is a contract between a buyer and a seller where the buyer agrees to buy a product or service at a fixed price.
Correct A. purchase order
B. sales order
C. invoice
D. proforma invoice

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 21 View Details
The _______ of a product refers to the process of creating a new product or service that meets the needs of a target market.
Correct A. development
B. production
C. marketing
D. distribution

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 22 View Details
A _______ is a contract between a buyer and a seller where the buyer agrees to buy a product or service at a fixed price.
Correct A. purchase order
B. sales order
C. invoice
D. proforma invoice

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 23 View Details
The _______ of a product refers to the process of creating a new product or service that meets the needs of a target market.
Correct A. development
B. production
C. marketing
D. distribution

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 24 View Details
A _______ is a contract between a buyer and a seller where the buyer agrees to buy a product or service at a fixed price.
Correct A. purchase order
B. sales order
C. invoice
D. proforma invoice

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics
Question 25 View Details
The _______ of a product refers to the process of creating a new product or service that meets the needs of a target market.
Correct A. development
B. production
C. marketing
D. distribution

Correct Answer: A

Want to see the full step-by-step solution? Unlock AI Explanation & Analytics

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub:
Chat with Support