POST UTME RSU 2022 Commerce | Objective

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Question 1 View Details
In a just-in-time (JIT) inventory system, what is the primary goal of the reorder point?
A. To minimize inventory costs
B. To maximize inventory turnover
C. To reduce lead time
Correct D. To minimize stockouts

Correct Answer: D

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Question 2 View Details
A company uses a transportation cost index to determine the most cost-effective mode of transportation. Which of the following is a characteristic of the transportation cost index?
A. It is a measure of the distance between two points
B. It is a measure of the weight of goods being transported
Correct C. It is a measure of the cost of transportation per unit of weight
D. It is a measure of the speed of transportation

Correct Answer: C

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Question 3 View Details
A company is considering launching a new product. Which of the following is a key factor in determining the product's potential for success?
A. Market size
B. Market growth rate
C. Competitor analysis
Correct D. All of the above

Correct Answer: D

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Question 4 View Details
A company is considering outsourcing its logistics operations. Which of the following is a key benefit of outsourcing?
A. Reduced costs
B. Improved efficiency
C. Increased flexibility
Correct D. All of the above

Correct Answer: D

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Question 5 View Details
A company is considering investing in a new marketing campaign. Which of the following is a key metric for evaluating the campaign's success?
Correct A. Return on investment (ROI)
B. Return on equity (ROE)
C. Return on assets (ROA)
D. Net present value (NPV)

Correct Answer: A

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Question 6 View Details
In a sole trade business, what is the primary advantage of using a sole trader structure?
A. Limited liability
B. Unlimited liability
C. Easy to set up
Correct D. Flexibility in decision-making

Correct Answer: D

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Question 7 View Details
A company has a share capital of ₦1,000,000 divided into 100,000 ordinary shares of ₦10 each. If the company issues 20,000 shares to the public, what is the amount of share capital received?
A. ₦200,000
Correct B. ₦400,000
C. ₦600,000
D. ₦800,000

Correct Answer: B

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Question 8 View Details
A consumer purchases a product for ₦5,000 and pays a 10% deposit. If the consumer returns the product within 30 days, what is the amount of refund?
Correct A. ₦4,000
B. ₦4,500
C. ₦5,000
D. ₦5,500

Correct Answer: A

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Question 9 View Details
A company uses the just-in-time (JIT) inventory system. What is the primary advantage of this system?
Correct A. Reduced inventory costs
B. Improved quality control
C. Increased flexibility
D. Enhanced customer satisfaction

Correct Answer: A

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Question 10 View Details
A company uses the First-In-First-Out (FIFO) inventory system. What is the primary advantage of this system?
A. Reduced inventory costs
B. Improved quality control
C. Increased flexibility
Correct D. Reduced obsolescence

Correct Answer: D

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Question 11 View Details
Determine the type of business unit that would be most suitable for a sole trader who wants to expand their operations to include a manufacturing facility.
A. Sole Proprietorship
B. Partnership
Correct C. Limited Liability Company
D. Cooperative Society

Correct Answer: C

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Question 12 View Details
A consumer protection agency receives a complaint about a company's unfair business practices. The agency's primary goal is to protect the consumer's rights. Which of the following actions would be most appropriate for the agency to take?
Correct A. Conduct an investigation into the company's practices
B. Issue a warning to the company
C. File a lawsuit against the company
D. Provide counseling to the consumer

Correct Answer: A

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Question 13 View Details
A bank offers a loan to a customer with a variable interest rate. The customer's monthly payments will be affected by changes in the interest rate. What type of loan is this?
A. Fixed-Rate Loan
B. Variable-Rate Loan
Correct C. Adjustable-Rate Loan
D. Interest-Only Loan

Correct Answer: C

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Question 14 View Details
A company produces two products, A and B, using two machines, X and Y. The production process for product A requires 2 hours on machine X and 3 hours on machine Y, while product B requires 3 hours on machine X and 2 hours on machine Y. If the company has 12 hours of machine X time and 15 hours of machine Y time available, how many units of product A and product B can be produced?
A. (10, 12)
Correct B. (12, 10)
C. (15, 9)
D. (9, 15)

Correct Answer: B

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Question 15 View Details
A company's production process involves the following steps: raw material procurement, manufacturing, quality control, and packaging. The company wants to reduce its production costs by 20%. Which of the following steps would be most effective in achieving this goal?
A. Raw material procurement
Correct B. Manufacturing
C. Quality control
D. Packaging

Correct Answer: B

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Question 16 View Details
In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied will
A. increase
Correct B. decrease
C. remain constant
D. move in the opposite direction

Correct Answer: B

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Question 17 View Details
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current labor and capital inputs are L = 16 and K = 9, respectively, what is the firm's current output?
A. 10
B. 12
Correct C. 15
D. 20

Correct Answer: C

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Question 18 View Details
A bank's balance sheet is given by Assets = Liabilities + Equity. If the bank's assets are worth ₦100 million and its liabilities are ₦80 million, what is the bank's equity?
A. ₦10 million
B. ₦20 million
Correct C. ₦30 million
D. ₦40 million

Correct Answer: C

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Question 19 View Details
A firm's cost function is given by C = 2L + 3K. If the firm's current labor and capital inputs are L = 8 and K = 6, respectively, what is the firm's current cost?
A. ₦40
B. ₦60
Correct C. ₦80
D. ₦100

Correct Answer: C

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Question 20 View Details
A firm's revenue function is given by R = 4Q. If the firm's current output is Q = 12, what is the firm's current revenue?
A. ₦48
B. ₦60
Correct C. ₦72
D. ₦84

Correct Answer: C

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Question 21 View Details
A commercial bank's primary function is to act as a _______ between the surplus units and the deficit units in the economy.
Correct A. Financial intermediary
B. Investment bank
C. Merchant bank
D. Central bank

Correct Answer: A

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Question 22 View Details
A company's marketing mix consists of _______, _______, _______, and _______.
Correct A. Product, price, promotion, and place
B. Product, price, promotion, and people
C. Product, price, promotion, and packaging
D. Product, price, promotion, and process

Correct Answer: A

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Question 23 View Details
A sole trader's business is not registered with the _______.
Correct A. Companies and Allied Matters Commission (CAC)
B. Federal Inland Revenue Service (FIRS)
C. National Industrial Court (NIC)
D. Corporate Affairs Commission (CAC)

Correct Answer: A

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Question 24 View Details
A company's _______ is the process of creating and communicating value to customers.
Correct A. Marketing
B. Sales
C. Production
D. Finance

Correct Answer: A

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Question 25 View Details
A commercial bank's _______ is the difference between its total assets and total liabilities.
A. Capital
B. Reserve
C. Deposits
Correct D. Equity

Correct Answer: D

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