POST UTME UNN 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
In a sole trader business, what is the primary advantage of using a sole proprietorship structure?
A. Limited liability
B. Unlimited liability
C. Tax benefits
D. Flexibility in decision-making
Question 2
A company's articles of association may provide for the appointment of a managing director. What is the primary responsibility of the managing director?
A. To manage the company's day-to-day operations
B. To make strategic decisions on behalf of the company
C. To represent the company in legal matters
D. To prepare the company's financial statements
Question 3
A consumer protection agency has received complaints about a company's misleading advertising practices. What is the primary responsibility of the agency?
A. To investigate the complaints and take enforcement action
B. To educate the public about consumer rights
C. To provide mediation services for consumers and businesses
D. To conduct market research on consumer behavior
Question 4
A company is sued for violating the Consumer Protection Act. The company's defense is that the consumer failed to read the fine print on the contract. However, the consumer claims that the company's sales representative assured them that the product was safe for use. Which of the following is the most likely legal outcome?
A. The court will rule in favor of the company, as the consumer failed to read the fine print.
B. The court will rule in favor of the consumer, as the company's sales representative made false assurances.
C. The court will order a retrial, as there is insufficient evidence to make a decision.
D. The court will dismiss the case, as the Consumer Protection Act does not apply to this situation.
Question 5
A company's marketing strategy involves creating a sense of urgency among customers to purchase a product. Which of the following is an example of a marketing tactic used to create this sense of urgency?
A. Limited-time offer
B. Free trial
C. Discount
D. Gift with purchase
Question 6
A transport company offers a 10% discount on its services for customers who pay upfront. If a customer pays ₦10,000 upfront, what is the amount they will pay after the discount?
A. ₦9,000
B. ₦9,500
C. ₦10,000
D. ₦10,500
Question 7
A marketing manager is tasked with creating a social media campaign to promote a new product. What is the primary goal of this campaign?
A. Increase brand awareness
B. Generate leads
C. Drive sales
D. Enhance customer engagement
Question 8
A consumer protection law requires that all goods sold in a particular market must be labeled with their country of origin. Which of the following is a benefit of this labeling requirement?
A. It helps to prevent counterfeiting.
B. It promotes fair competition among businesses.
C. It allows consumers to make informed purchasing decisions.
D. It reduces the risk of product liability.
Question 9
A company is considering outsourcing some of its production activities to a foreign supplier. The company's management team has identified several potential suppliers, but they are unsure which one to choose. What is the most appropriate method for the company to use to make this decision?
A. The company should conduct a cost-benefit analysis to compare the costs and benefits of each supplier.
B. The company should conduct a SWOT analysis to identify the strengths, weaknesses, opportunities, and threats of each supplier.
C. The company should conduct a market research study to gather data on the demand for the company's products in each supplier's country.
D. The company should conduct a feasibility study to determine whether each supplier is feasible for the company's operations.
Question 10
A bank's financial statements show a decrease in its cash balance over a period of time. Which of the following could be the reason for this decrease?
A. Increase in deposits
B. Decrease in loans
C. Increase in operating expenses
D. Decrease in cash reserves
Question 11
A firm's business law requires it to comply with consumer protection regulations. What is the primary benefit of complying with these regulations?
A. Improved brand reputation
B. Enhanced customer loyalty
C. Reduced risk of legal action
D. Increased market share
Question 12
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 5,000 units. What is the minimum number of pallets required to fulfill the order?
A. 2
B. 3
C. 4
D. 5
Question 13
A firm is considering outsourcing its logistics operations to a third-party provider. What are the potential benefits of this decision?
A. Reduced costs, improved efficiency
B. Increased flexibility, better customer service
C. Enhanced security, reduced risk
D. Improved quality, increased innovation
Question 14
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 exempt from paying corporation tax.
Question 15
A consumer protection agency receives a complaint about a company's misleading advertising. The agency's primary goal is to protect the consumer's rights. What is the most appropriate action for the agency to take?
A. Issue a warning to the company
B. Order the company to cease operations
C. File a lawsuit against the company
D. Provide counseling to the consumer

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