POST UTME UNILORIN 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's marketing mix is given by the 4 Ps: Product, Price, Place, and Promotion. What is the name of the P that refers to the firm's advertising efforts?
A. Product
B. Price
C. Place
D. Promotion
Question 2
A company has a policy of paying its employees a 5% bonus on their annual salary. If an employee earns ₦100,000 per annum, what is the amount of bonus received?
A. ₦4,000
B. ₦5,000
C. ₦6,000
D. ₦7,000
Question 3
A company is considering expanding its operations into a new market. What type of market analysis is being conducted?
A. SWOT analysis
B. PESTEL analysis
C. Porter's Five Forces analysis
D. Market segmentation analysis
Question 4
A consumer purchases a product with a price of ₦5,000 and a 10% discount. What is the amount of discount received?
A. ₦500
B. ₦1,000
C. ₦1,500
D. ₦2,000
Question 5
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
D. ₦1,650,000
Question 6
A company's articles of association may provide for a different class of shares to have a different voting power. What is the name of this type of share?
A. Ordinary Share
B. Preference Share
C. Redeemable Share
D. Voting Share
Question 7
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
D. ₦1,650,000
Question 8
A business has a cash flow of ₦500,000 and a profit of ₦200,000. What is the ratio of cash flow to profit?
A. 1:2
B. 2:1
C. 3:1
D. 1:1
Question 9
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
D. ₦1,440
Question 10
A sole trader's business is considered a separate legal entity from its owner. However, the owner is personally liable for all the business's debts and obligations. What is the name of this type of liability?
A. Limited Liability
B. Unlimited Liability
C. Joint Liability
D. Personal Liability
Question 11
A business is considering implementing a new pricing strategy to increase revenue. What type of pricing strategy is being considered?
A. Penetration pricing
B. Skimming pricing
C. Bundle pricing
D. Value-based pricing
Question 12
In a production function, the marginal product of labor (MPL) is given by the derivative of the production function with respect to labor. If the production function is MPL = 2L^2 + 3L + 1, find the value of L that maximizes MPL.
A. 1
B. 2
C. 3
D. 4
Question 13
In a sole proprietorship business, the owner's personal assets are not protected from business liabilities. What is the primary reason for this?
A. The business is not registered as a separate entity.
B. The owner has not obtained necessary licenses and permits.
C. The owner's personal assets are not separate from the business assets.
D. The business is not insured against liabilities.
Question 14
A company's financial statements show a net profit of ₦200,000, a turnover of ₦1,500,000, and a gross profit of ₦800,000. What is the net profit margin?
A. 13.33%
B. 16.67%
C. 20%
D. 25%
Question 15
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
D. ₦1,650,000

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