POST UTME UNIPORT 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's sole trader has been sued for negligence in the management of a warehouse. The court has ruled that the company must pay damages to the plaintiff. However, the company's sole trader has no assets to pay the damages. What is the most likely outcome?
A. The company's sole trader will be declared bankrupt.
B. The company's sole trader will be sued again for the same negligence.
C. The company's sole trader will be required to pay the damages from future earnings.
D. The company's sole trader will be exempt from paying damages.
Question 2
A country's balance of payments account is given by the following equation: BOP = X - M, where BOP is the balance of payments, X is exports, and M is imports. If the country's exports are 100 billion naira and imports are 80 billion naira, what is the balance of payments?
A. ₦20 billion surplus
B. ₦20 billion deficit
C. ₦80 billion surplus
D. ₦80 billion deficit
Question 3
In a sole trade business, the owner's personal assets are not protected from business liabilities. What is the primary reason for this?
A. Lack of separate business bank account
B. Insufficient business insurance
C. Personal guarantee of business loans
D. Inadequate business registration
Question 4
A company's warehouse is storing goods worth ₦10 million. The company's stock control system is manual, and there is no inventory management software. What type of stock control system is the company using?
A. Barcode system
B. Radio Frequency Identification (RFID) system
C. Manual system
D. Automated system
Question 5
A consumer protection law requires businesses to provide clear and concise information about their products. What is the primary purpose of this law?
A. To prevent false advertising
B. To protect consumers from unfair business practices
C. To promote transparency in business operations
D. To reduce consumer complaints
Question 6
A consumer purchases a product online and receives a damaged item. The consumer contacts the company's customer service department, but the company refuses to provide a refund or replacement. What type of consumer protection law is applicable in this scenario?
A. Consumer Sales Act
B. Consumer Protection Act
C. Trade Practices Act
D. Fair Trading Act
Question 7
In a perfectly competitive market, the demand curve for a firm's product is its marginal revenue curve. What is the implication of this for the firm's profit-maximizing output?
A. The firm will produce at the point where MR = MC
B. The firm will produce at the point where MR = P
C. The firm will produce at the point where MR = P - MC
D. The firm will produce at the point where MR = P + MC
Question 8
A firm's transportation costs are directly proportional to the square of the distance traveled. If the firm travels 100 km, what is the ratio of the transportation cost for this distance to the transportation cost for 50 km?
A. 1:1
B. 1:2
C. 1:4
D. 1:8
Question 9
A firm is considering the use of a warehouse management system (WMS). Which of the following is a major benefit of a WMS?
A. Improved inventory accuracy
B. Reduced labor costs
C. Increased flexibility in production
D. Improved customer service
Question 10
A company's marketing strategy involves creating a new product line to target a specific demographic. What type of market research would be most relevant to this strategy?
A. Competitor analysis
B. Market segmentation
C. Product life cycle analysis
D. SWOT analysis
Question 11
A company has a sole trade business with an annual turnover of ₦1,500,000. If the company's profit margin is 15%, what is the company's profit?
A. ₦225,000
B. ₦250,000
C. ₦275,000
D. ₦300,000
Question 12
A company's marketing budget is allocated as follows: 30% for advertising, 20% for promotions, and 50% for public relations. What is the total marketing budget?
A. ₦1,500,000
B. ₦2,000,000
C. ₦3,000,000
D. ₦4,000,000
Question 13
A firm is considering the use of just-in-time (JIT) inventory management system. Which of the following is a major advantage of JIT?
A. Reduced inventory costs
B. Improved product quality
C. Increased flexibility in production
D. Reduced lead times
Question 14
A warehouse manager is responsible for maintaining a high level of inventory turnover. Which of the following inventory management techniques would help achieve this goal?
A. Just-in-time inventory system
B. Economic order quantity
C. Material requirements planning
D. Vendor-managed inventory
Question 15
A company's marketing strategy involves creating a brand identity that appeals to a specific demographic. Which of the following is a key element of this strategy?
A. Product differentiation
B. Segmentation
C. Target marketing
D. Positioning

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