POST UTME RSU 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee has an annual salary of ₦200,000, what is the amount of the bonus?
A. ₦20,000
B. ₦30,000
C. ₦40,000
D. ₦50,000
Question 2
A company has a joint stock business structure. What is the primary advantage of this structure?
A. The company has unlimited liability.
B. The company has limited liability.
C. The company has a separate legal entity.
D. The company has multiple owners.
Question 3
A company's production function is given by the production function: Q = 10L^0.4K^0.6, where Q is the output, L is labor, and K is capital. If the company wants to increase its output by 20% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 4
A company's stock control system uses a first-in-first-out (FIFO) inventory method. What is the main advantage of this method?
A. It minimizes stockouts
B. It maximizes profits
C. It reduces inventory costs
D. It ensures accurate inventory valuation
Question 5
A company has a warehouse with a capacity of 10,000 units. If the company receives a shipment of 8,000 units, what is the percentage of the warehouse capacity utilized?
A. 50%
B. 60%
C. 70%
D. 80%
Question 6
A company has a sole trader business structure. What is the primary advantage of this structure?
A. The company has unlimited liability.
B. The company has limited liability.
C. The company has a separate legal entity.
D. The company has a sole owner.
Question 7
A firm imports goods from a foreign country. If the exchange rate is 1 USD = 360 Naira and the cost of the goods is 100, what is the total cost of the goods in Naira?
A. ₦36,000
B. ₦36,000
C. ₦36,000
D. ₦36,000
Question 8
A firm has a budget of ₦500,000 to spend on transportation. If the cost of transportation by road is ₦150,000 per kilometer and the cost of transportation by air is ₦200,000 per kilometer, how many kilometers can the firm transport by road if it spends 80% of its budget on road transportation?
A. 100 kilometers
B. 120 kilometers
C. 150 kilometers
D. 180 kilometers
Question 9
The Consumer Protection Act of 1999 provides for the protection of consumers from unfair trade practices. Which of the following is a key provision of the Act?
A. The Act provides for the establishment of a Consumer Protection Council.
B. The Act provides for the protection of consumers from unfair trade practices.
C. The Act provides for the establishment of a Consumer Protection Tribunal.
D. The Act provides for the protection of consumers from false advertising.
Question 10
A company's marketing strategy involves a mix of advertising and public relations. Which of the following is a key benefit of using public relations in a marketing mix?
A. Increased brand awareness
B. Improved customer loyalty
C. Enhanced reputation
D. Increased sales
Question 11
In a sole trade business, what is the primary advantage of using a sole proprietorship structure?
A. Limited liability
B. Easy setup and registration
C. Flexibility in decision-making
D. Access to capital markets
Question 12
A company has issued a debenture to raise funds for its business operations. What is the main advantage of issuing debentures?
A. It is a long-term source of finance
B. It is a low-cost source of finance
C. It is a secured source of finance
D. It is a flexible source of finance
Question 13
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital. If the firm wants to produce 100 units of output, and the wage rate is ₦100 per hour, and the rental rate of capital is ₦200 per hour, how much should the firm spend on labor?
A. ₦5000
B. ₦10000
C. ₦20000
D. ₦50000
Question 14
A firm's revenue function is given by R(x) = 100x - 2x^2. What is the marginal revenue function?
A. ( R'(x) = 100 - 4x )
B. ( R'(x) = 100 + 4x )
C. ( R'(x) = 100x - 2x^2 )
D. ( R'(x) = 100x + 2x^2 )
Question 15
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital. If the firm wants to produce 100 units of output, and the wage rate is ₦100 per hour, and the rental rate of capital is ₦200 per hour, how much should the firm spend on capital?
A. ₦5000
B. ₦10000
C. ₦20000
D. ₦50000

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