POST UTME GREENFIELD UNIVERSITY 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
In the context of international trade, what is the term for the difference between the price of a product in the domestic market and the price of the same product in the foreign market?
A. Trade deficit
B. Trade surplus
C. Comparative advantage
D. Terms of trade
Question 2
A company's warehousing and stock control system is designed to minimize inventory costs. Which of the following inventory control methods is most likely to be used?
A. Just-In-Time (JIT) inventory control
B. Economic Order Quantity (EOQ) inventory control
C. Periodic Review System
D. Continuous Review System
Question 3
The Central Bank of Nigeria (CBN) uses the following monetary policy tools to control inflation: Open Market Operations (OMO), Reserve Requirements, and Moral Suasion. Which of the following is NOT a monetary policy tool used by the CBN?
A. Fiscal Policy
B. Monetary Policy
C. Supply-Side Policy
D. Demand-Side Policy
Question 4
A warehouse manager wants to optimize storage space. Which of the following storage methods is most efficient?
A. First-In-First-Out (FIFO)
B. Last-In-First-Out (LIFO)
C. First-In-Last-Out (FILO)
D. Least Recently Used (LRU)
Question 5
A company is considering expanding its operations to a new market. Which of the following is a key factor to consider when evaluating the feasibility of this expansion?
A. Market size and growth rate
B. Competitor analysis
C. Regulatory environment
D. Supply chain logistics
Question 6
A company has a policy of paying its suppliers on time. This is an example of which of the following?
A. Just-in-time inventory management
B. Cash flow management
C. Accounts payable management
D. Accounts receivable management
Question 7
A sole trader wants to expand their business by hiring employees. Which of the following is the most significant advantage of incorporating as a company?
A. Limited liability
B. Tax benefits
C. Increased funding options
D. Improved management structure
Question 8
A warehouse is using a first-in, first-out (FIFO) inventory management system. If the warehouse receives a new shipment of goods, what will happen to the oldest inventory?
A. It will be sold first
B. It will be stored separately
C. It will be discarded
D. It will be used as a sample
Question 9
A bank's financial statements are audited annually by an independent auditor. What is the primary purpose of this audit?
A. To ensure the bank's financial statements are presented fairly and in accordance with accounting standards
B. To identify and report any material weaknesses in the bank's internal control over financial reporting
C. To provide an opinion on the bank's financial statements
D. To ensure compliance with regulatory requirements
Question 10
A company is considering outsourcing its production to a foreign country. Which of the following is a key consideration when evaluating the feasibility of this decision?
A. Labor costs and regulations
B. Market size and growth rate
C. Currency exchange rates
D. Supply chain logistics
Question 11
A company is considering the introduction of a new product line. The product requires an initial investment of ₦5 million and has a projected annual profit of ₦2 million. If the company's cost of capital is 10% per annum, what is the internal rate of return (IRR) on the investment?
A. 15%
B. 12%
C. 10%
D. 8%
Question 12
A company is sued for violating the Consumer Protection Act. The company's defense is that the consumer failed to read the fine print on the contract. Which of the following is the most likely outcome?
A. The court will rule in favor of the company.
B. The court will rule in favor of the consumer.
C. The case will be dismissed due to lack of evidence.
D. The company will be ordered to pay damages to the consumer.
Question 13
A company has a policy of offering a discount to customers who pay their bills on time. This is an example of which of the following?
A. Cash discount
B. Trade discount
C. Quantity discount
D. Time discount
Question 14
A company's marketing strategy involves a 10% discount for the first 100 customers, a 15% discount for the next 200 customers, and a 20% discount for all subsequent customers. If the company sells 500 units, what is the total revenue?
A. ₦1,200,000
B. ₦1,300,000
C. ₦1,400,000
D. ₦1,500,000
Question 15
A company's marketing strategy involves creating a brand identity that is consistent across all channels. What is the primary goal of this strategy?
A. To increase sales revenue
B. To build brand awareness
C. To create a consistent brand image
D. To differentiate the brand from competitors

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