POST UTME ACHIEVERS UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The Consumer Protection Act of 1999 in Nigeria provides for the protection of consumers from unfair trade practices. Which of the following is a key provision of the Act?
A. The Act prohibits the use of false or misleading advertisements.
B. The Act requires businesses to provide clear and accurate information about their products and services.
C. The Act allows consumers to sue businesses for damages caused by unfair trade practices.
D. The Act establishes a consumer protection agency to enforce consumer rights.
Question 2
A company is considering exporting goods to a foreign country. Which of the following is a key consideration in determining the feasibility of the export?
A. Market demand for the product
B. Competitor analysis
C. Transportation costs
D. All of the above
Question 3
A marketing strategy involves creating a brand identity. Which of the following is a key element of brand identity?
A. Product features
B. Price strategy
C. Brand name and logo
D. Distribution channels
Question 4
A company is considering a new marketing strategy that involves creating a social media campaign to promote its products. The campaign will be run for 6 months, and the company expects to spend ₦1,500,000 per month on advertising. If the company's profit margin is 25%, and it sells each product for ₦5,000, what is the minimum number of products the company must sell to break even?
A. 2,000 products
B. 3,000 products
C. 4,000 products
D. 5,000 products
Question 5
A company is considering investing in a new project that has a net present value (NPV) of 100,000. However, the company is concerned about the risk associated with the project. What is the name of the measure that captures the risk associated with the project?
A. Beta
B. Standard Deviation
C. Coefficient of Variation
D. Sharpe Ratio
Question 6
A bank has a reserve requirement of 10% for its customers. If a customer has a deposit of ₦100000, how much will the bank be required to hold in reserve?
A. ₦10000
B. ₦100000
C. ₦1000000
D. ₦10000000
Question 7
A company has a sole trader structure. What is the primary disadvantage of this structure?
A. Limited liability
B. Easy to set up
C. No need for formalities
D. Unlimited personal liability
Question 8
A company uses the following transportation costs per unit: Road: ₦20, Rail: ₦30, Air: ₦50. If the company needs to transport 100 units, what is the minimum cost?
A. ₦2000
B. ₦3000
C. ₦5000
D. ₦6000
Question 9
A warehouse has a storage capacity of 10,000 units. The warehouse is currently 70% full, and the manager wants to add 2,000 more units of stock. If the warehouse is rectangular in shape, and the length is 3 times the width, what is the minimum width of the warehouse?
A. 10m
B. 15m
C. 20m
D. 25m
Question 10
A firm is considering entering a new market. Which of the following is a key factor to consider when deciding whether to enter the market?
A. The size of the market
B. The level of competition in the market
C. The firm's ability to produce the product at a lower cost than its competitors
D. The firm's ability to differentiate its product from its competitors
Question 11
A company is considering two different marketing strategies for its new product. The first strategy involves a high level of advertising and promotion, while the second strategy involves a low level of advertising and promotion. Which of the following is a potential advantage of the second strategy?
A. Increased market share
B. Reduced production costs
C. Improved brand recognition
D. Lower marketing expenses
Question 12
A company has a company business structure. The company has a capital of ₦1,000,000. If the company's profit is ₦200,000, and the company's tax rate is 20%, what is the company's net profit?
A. ₦160,000
B. ₦180,000
C. ₦200,000
D. ₦220,000
Question 13
A sole trader is considering expanding their business to include a new product line. Which of the following is a key advantage of a sole trader business structure?
A. Easy to set up and maintain
B. Limited liability for owners
C. Ability to raise capital from investors
D. Flexibility to make decisions quickly
Question 14
A company has a sole trader structure. What is the primary disadvantage of this structure?
A. Limited liability
B. Easy to set up
C. No need for formalities
D. Unlimited personal liability
Question 15
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to produce 100 units of output, and the price of labor is 10 per unit, and the price of capital is 20 per unit, what is the minimum cost of production?
A. 1000
B. 2000
C. 3000
D. 4000

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