POST UTME NOUN 2022 Commerce | Objective

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Question 1 View Details
A company is considering the implementation of a just-in-time (JIT) inventory system. Which of the following is a key benefit of JIT?
Correct A. Reduced inventory costs
B. Improved product quality
C. Increased production efficiency
D. Enhanced customer service

Correct Answer: A

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Question 2 View Details
A sole trader is considering the purchase of a new piece of equipment for their business. The equipment costs ₦150,000 and is expected to last for 5 years. What is the annual depreciation of the equipment?
A. ₦20,000
Correct B. ₦30,000
C. ₦40,000
D. ₦50,000

Correct Answer: B

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Question 3 View Details
A company is considering the implementation of a new marketing strategy. The strategy involves the use of social media to promote the company's products. Which of the following is a key advantage of using social media for marketing?
A. Increased brand awareness
Correct B. Improved customer engagement
C. Enhanced product visibility
D. Reduced marketing costs

Correct Answer: B

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Question 4 View Details
A company is considering the purchase of a new warehouse. The warehouse has a capacity of 10,000 square meters and is expected to last for 10 years. What is the annual depreciation of the warehouse?
A. ₦10,000
Correct B. ₦20,000
C. ₦30,000
D. ₦40,000

Correct Answer: B

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Question 5 View Details
A company is considering the implementation of a new production process. The process involves the use of automation to improve efficiency. Which of the following is a key benefit of automation?
A. Improved product quality
Correct B. Increased production efficiency
C. Enhanced customer service
D. Reduced labor costs

Correct Answer: B

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Question 6 View Details
What is the primary function of a sole trader in a business?
A. To provide employment opportunities for others
B. To manage and control the business
Correct C. To take on financial risks and responsibilities
D. To provide goods and services to customers

Correct Answer: C

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Question 7 View Details
A company has a capital of ₦1,000,000. If it issues 10,000 shares of ₦100 each, what is the total number of shares outstanding?
A. 9,000
Correct B. 10,000
C. 11,000
D. 12,000

Correct Answer: B

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Question 8 View Details
A bank has a reserve requirement of 10%. If it has a cash reserve of ₦100,000, what is the maximum amount of loans it can give out?
A. ₦900,000
Correct B. ₦1,000,000
C. ₦1,100,000
D. ₦1,200,000

Correct Answer: B

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Question 9 View Details
A company has a warehouse with a capacity of 10,000 units. If it receives a shipment of 5,000 units, what is the new inventory level?
A. 5,000
Correct B. 10,000
C. 15,000
D. 20,000

Correct Answer: B

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Question 10 View Details
A business has a policy of paying its employees a bonus of 10% of their salary. If an employee earns ₦50,000 per month, what is the bonus?
A. ₦4,000
Correct B. ₦5,000
C. ₦6,000
D. ₦7,000

Correct Answer: B

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Question 11 View Details
Determine the value of x in the equation ( log_{10} (x^2) = 4 )
A. 10
B. 100
C. 1000
Correct D. 10000

Correct Answer: D

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Question 12 View Details
A company imports goods worth ₦1,500,000. If the exchange rate is ₦360 per dollar, how many dollars is the import worth?
Correct A. 4166.67
B. 4171.43
C. 4176.19
D. 4180.95

Correct Answer: A

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Question 13 View Details
A firm has a profit of ₦120,000 and a turnover of ₦1,200,000. What is the gross profit percentage?
A. 10%
Correct B. 12%
C. 15%
D. 18%

Correct Answer: B

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Question 14 View Details
A company has a capital of ₦500,000 and a reserve of ₦200,000. What is the total amount of capital and reserve?
Correct A. ₦700,000
B. ₦600,000
C. ₦500,000
D. ₦400,000

Correct Answer: A

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Question 15 View Details
A firm has a total revenue of ₦1,500,000 and a total cost of ₦1,200,000. What is the profit?
Correct A. ₦300,000
B. ₦200,000
C. ₦100,000
D. ₦50,000

Correct Answer: A

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Question 16 View Details
A company's marketing strategy involves creating a perceived value for its products through advertising and promotions. Which of the following is a characteristic of this approach?
Correct A. Creating a perceived value for products
B. Focusing on product features
C. Targeting a specific market segment
D. Using social media for advertising

Correct Answer: A

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Question 17 View Details
A consumer purchases a product with a warranty that covers repairs and replacements for a certain period. Which of the following is a type of insurance that provides protection against financial losses due to unforeseen events?
A. Life insurance
B. Health insurance
C. Property insurance
Correct D. Liability insurance

Correct Answer: D

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Question 18 View Details
A company's business law requires it to disclose certain information to its customers. Which of the following is an example of a consumer protection law?
Correct A. Truth in advertising law
B. Product liability law
C. Consumer credit law
D. Franchise law

Correct Answer: A

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Question 19 View Details
A bank's financial institution provides loans to customers at a fixed interest rate. Which of the following is a type of banking service?
A. Savings account
B. Checking account
C. Credit card
Correct D. Personal loan

Correct Answer: D

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Question 20 View Details
A company exports goods to a foreign country and receives payment in a foreign currency. Which of the following is a type of foreign trade?
A. Import
Correct B. Export
C. Trade deficit
D. Trade surplus

Correct Answer: B

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Question 21 View Details
The Consumer Protection Act of 1999 provides for the establishment of the National Consumer Protection Agency. What is the primary function of this agency?
Correct A. To investigate complaints from consumers
B. To regulate the activities of businesses
C. To provide education and awareness to consumers
D. To establish standards for consumer products

Correct Answer: A

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Question 22 View Details
A company has a warehouse with a capacity of 10,000 units. If it receives a shipment of 5,000 units, what is the new capacity?
A. 10,000
Correct B. 15,000
C. 5,000
D. 20,000

Correct Answer: B

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Question 23 View Details
A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦100,000, what is the amount after 2 years?
A. ₦121,000
Correct B. ₦122,000
C. ₦123,000
D. ₦124,000

Correct Answer: B

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Question 24 View Details
A company has a stock of 500 units of a product. If it sells 20% of the stock, how many units are left?
A. 400
Correct B. 450
C. 500
D. 550

Correct Answer: B

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Question 25 View Details
A person has a life insurance policy with a premium of ₦10,000 per annum. If the policy has a term of 10 years, what is the total premium paid?
A. ₦100,000
B. ₦120,000
Correct C. ₦150,000
D. ₦200,000

Correct Answer: C

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