POST UTME IGBINEDION UNIVERSITY 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's return on investment (ROI) is 15%. If it invests ₦100,000 in a project, what is the expected return on the project?
A. ₦15,000
B. ₦18,000
C. ₦20,000
D. ₦22,000
Question 2
A sole trader's business is considered a separate legal entity from the owner's personal assets. Which of the following is a correct statement regarding the liability of a sole trader?
A. The sole trader's personal assets are not at risk in case of business debts.
B. The sole trader's personal assets are at risk in case of business debts.
C. The sole trader's business is not liable for personal debts.
D. The sole trader's business is not liable for personal assets.
Question 3
A warehouse has a storage capacity of 1000 units. The warehouse is currently 70% full, with 700 units stored. If 300 more units are added to the warehouse, what is the new percentage of the warehouse that is full?
A. 50%
B. 60%
C. 70%
D. 80%
Question 4
A consumer purchases a product that is defective. Which of the following is a consumer protection law that applies in this situation?
A. Consumer Protection Act
B. Fair Trading Act
C. Product Liability Act
D. Sales of Goods Act
Question 5
A company's marketing strategy involves a combination of advertising, sales promotions, and public relations. Which of the following best describes the primary goal of this strategy?
A. To increase brand awareness
B. To create a positive image of the company
C. To generate leads and drive sales
D. To build customer loyalty
Question 6
A company's supply chain includes the following stages: production, transportation, and storage. Which of the following is NOT a type of transportation mode?
A. road
B. rail
C. air
D. pipeline
Question 7
A warehouse manager is responsible for maintaining accurate inventory records. Which of the following is a method of inventory control?
A. First-in, first-out (FIFO)
B. Last-in, first-out (LIFO)
C. Weighted average cost (WAC)
D. Just-in-time (JIT)
Question 8
In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is
A. inelastic
B. elastic
C. unitary
D. perfectly inelastic
Question 9
A firm's marginal revenue is the change in its total revenue resulting from a one-unit change in the quantity sold. If a firm's total revenue is ₦1000 when it sells 10 units of a product, what is its marginal revenue?
A. ₦100
B. ₦200
C. ₦500
D. ₦1000
Question 10
In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied will
A. increase
B. decrease
C. remain constant
D. shift to the left
Question 11
A company is considering investing in a new project. Which of the following is a major consideration?
A. Financial return on investment
B. Social return on investment
C. Environmental return on investment
D. All of the above
Question 12
A company is considering using a new marketing strategy to increase sales. Which of the following is a major disadvantage of this strategy?
A. Increased customer loyalty
B. Reduced customer loyalty
C. Increased market share
D. Reduced market share
Question 13
A firm produces two products, A and B, using two inputs, labor and capital. The production function for product A is given by Q_A = 2L^0.5K^0.5, while the production function for product B is given by Q_B = 3L^0.7K^0.3. If the firm has 100 units of labor and 50 units of capital, what is the opportunity cost of producing one more unit of product B?
A. ₦1,000
B. ₦2,000
C. ₦3,000
D. ₦4,000
Question 14
A company is considering the purchase of a new piece of equipment that will cost ₦500,000. The equipment is expected to last for 3 years and will save the company ₦100,000 per year in labor costs. What is the payback period of the equipment?
A. 1 year
B. 2 years
C. 3 years
D. 4 years
Question 15
A company's marketing strategy involves a mix of advertising and sales promotions. Which of the following is a characteristic of a sales promotion?
A. A temporary price reduction
B. A long-term advertising campaign
C. A loyalty program
D. A sales force expansion

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