POST UTME UNILAG 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost compared to other countries. What is the opportunity cost of producing a good in a country?
A. The value of the good in terms of other goods that could be produced instead
B. The price of the good in the international market
C. The quantity of the good produced in the country
D. The quality of the good produced in the country
Question 2
A firm's accounts receivable turnover ratio is calculated as the net sales divided by the average accounts receivable. If the net sales are ₦900,000 and the average accounts receivable is ₦60,000, what is the accounts receivable turnover ratio?
A. 15
B. 16
C. 17
D. 18
Question 3
A bank's balance sheet consists of two main components: assets and liabilities. What is the primary function of the assets component in a bank's balance sheet?
A. To show the bank's equity and retained earnings
B. To display the bank's assets and liabilities
C. To calculate the bank's net worth
D. To determine the bank's capital adequacy ratio
Question 4
A customer purchases a life insurance policy with a premium of ₦10,000 per annum for 10 years. If the policy pays a death benefit of ₦500,000, what is the total premium paid by the customer over the 10-year period?
A. ₦100,000
B. ₦120,000
C. ₦150,000
D. ₦200,000
Question 5
A company uses a third-party logistics provider to manage its warehousing and transportation operations. What is the primary benefit of this arrangement?
A. Reduced costs
B. Improved service levels
C. Increased flexibility
D. Enhanced security
Question 6
A company's revenue is ₦1,500,000, and its cost of goods sold is ₦1,200,000. What is the gross profit?
A. ₦150,000
B. ₦200,000
C. ₦250,000
D. ₦300,000
Question 7
A company is considering exporting its products to a foreign market. What is the primary factor that determines the success of this venture?
A. Market demand
B. Competition
C. Government policies
D. Transportation costs
Question 8
A bank offers a 5-year fixed deposit account with an interest rate of 12% per annum compounded annually. If a customer deposits ₦100,000 at the beginning of the first year, what is the future value of the investment at the end of the fifth year?
A. ₦163,170.59
B. ₦164,170.59
C. ₦165,170.59
D. ₦166,170.59
Question 9
A company has a policy of paying dividends twice a year. If the company declares a dividend of ₦0.50 per share on 1st January and ₦0.75 per share on 1st July, and the company has 100,000 shares outstanding, what is the total dividend paid to shareholders in a year?
A. ₦75,000
B. ₦80,000
C. ₦85,000
D. ₦90,000
Question 10
In a sole trader business, what is the primary advantage of using a sole proprietorship structure?
A. Limited liability
B. Easy to set up
C. Flexibility in decision-making
D. No tax implications
Question 11
A bank's investment portfolio consists of stocks, bonds, and mutual funds. What is the primary goal of this portfolio?
A. Maximizing returns
B. Minimizing risk
C. Diversifying investments
D. All of the above
Question 12
A firm is considering investing in a new transportation system. What is the primary benefit of this investment?
A. Reduced transportation costs
B. Improved delivery times
C. Increased market share
D. Improved product quality
Question 13
What is the primary goal of a firm's production function in the context of international trade?
A. To maximize profits
B. To minimize costs
C. To achieve economies of scale
D. To increase market share
Question 14
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 at a premium of ₦5 per share, what is the total amount received from the public?
A. ₦200,000
B. ₦250,000
C. ₦300,000
D. ₦350,000
Question 15
A bank offers a 3-year fixed deposit account with an interest rate of 10% per annum compounded annually. If a customer deposits ₦50,000 at the beginning of the first year, what is the future value of the investment at the end of the third year?
A. ₦67,087.19
B. ₦68,087.19
C. ₦69,087.19
D. ₦70,087.19

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