POST UTME UNIBEN 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's Memorandum and Articles of Association are not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The company is not entitled to issue share certificates.
B. The company is not entitled to sue or be sued in its own name.
C. The company is not entitled to limited liability.
D. The company is not entitled to pay taxes.
Question 2
A company uses a communication channel that involves the use of the internet to communicate with customers. Which of the following is a key advantage of this channel?
A. High speed
B. Low cost
C. Flexibility
D. High capacity
Question 3
A bank's liquidity ratio is calculated as the ratio of its liquid assets to its total deposits. If a bank has ₦500 million in liquid assets and ₦1.5 billion in total deposits, what is its liquidity ratio?
A. 0.33
B. 0.67
C. 1.00
D. 1.50
Question 4
A sole trader's business is considered a separate legal entity from its owner. Which of the following is a consequence of this separation?
A. The owner is personally liable for the business's debts.
B. The business is taxed separately from its owner.
C. The owner has unlimited liability for the business's actions.
D. The business is not required to file annual accounts.
Question 5
A company purchases an insurance policy to cover against losses due to fire. What type of insurance is this?
A. Fire insurance
B. Liability insurance
C. Property insurance
D. Casualty insurance
Question 6
A firm uses the following data to calculate its production costs: Fixed costs = ₦50,000, Variable costs = ₦20x, where x is the number of units produced. What is the total cost function?
A. TC = 50,000 + 20x
B. TC = 50,000 - 20x
C. TC = 50,000 + 10x
D. TC = 50,000 - 10x
Question 7
A company uses a marketing strategy that involves creating a sense of urgency to encourage customers to make a purchase. This is an example of which of the following?
A. Scarcity marketing
B. Loss aversion
C. Social proof
D. Authority marketing
Question 8
A firm is considering two different transportation modes to transport a product from a warehouse to a customer. The first mode has a fixed cost of ₦10,000 and a variable cost of ₦20 per unit transported. The second mode has a fixed cost of ₦20,000 and a variable cost of ₦15 per unit transported. If the firm transports 500 units of the product, what is the total transportation cost for each mode?
A. ₦20,000
B. ₦25,000
C. ₦30,000
D. ₦35,000
Question 9
A firm is considering two different production technologies to produce a single product. The first technology has a fixed cost of ₦100,000 and a variable cost of ₦50 per unit produced. The second technology has a fixed cost of ₦200,000 and a variable cost of ₦30 per unit produced. If the firm produces 1,000 units of the product, what is the total cost of production for each technology?
A. ₦100,000
B. ₦150,000
C. ₦200,000
D. ₦250,000
Question 10
A consumer purchases a product with a recommended retail price of ₦5,000. If the product is on sale for 20% off, how much will the consumer pay?
A. ₦4000
B. ₦4500
C. ₦5000
D. ₦5500
Question 11
A firm specializes in the production of a single product, which is sold in both domestic and foreign markets. The firm's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. The firm's revenue function is given by R = 200Q. If the firm's labor and capital inputs are 100 and 400, respectively, what is the firm's profit-maximizing output?
A. 10
B. 20
C. 30
D. 40
Question 12
A firm is considering two different storage facilities to store a product. The first facility has a fixed cost of ₦50,000 and a variable cost of ₦10 per unit stored. The second facility has a fixed cost of ₦100,000 and a variable cost of ₦5 per unit stored. If the firm stores 1,000 units of the product, what is the total storage cost for each facility?
A. ₦60,000
B. ₦70,000
C. ₦80,000
D. ₦90,000
Question 13
A company has a warehouse with a capacity of 10,000 units. If it receives a shipment of 8,000 units, what is the new stock level?
A. 8000
B. 10000
C. 12000
D. 15000
Question 14
A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦10,000, what is the amount after 2 years?
A. ₦12,736.04
B. ₦12,736.16
C. ₦12,736.28
D. ₦12,736.40
Question 15
A company uses a transportation mode that involves the movement of goods by road. Which of the following is a key characteristic of this mode?
A. High speed
B. High capacity
C. Flexibility
D. Low cost

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