POST UTME AL-HIKMAH UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A sole trader's business is affected by the following factors: market demand, competition, and government regulations. Which of the following is a key characteristic of a sole trader's business?
A. Limited liability
B. Unlimited liability
C. Partnership
D. Company
Question 2
A consumer protection law requires businesses to provide clear and accurate information about their products. Which of the following is a key aspect of this law?
A. Product labeling
B. Advertising regulations
C. Consumer education
D. Product testing
Question 3
A company's marketing strategy involves a mix of product, price, place, and promotion. Which of the following is NOT a key element of the product component?
A. Packaging
B. Product life cycle
C. Product positioning
D. Product development
Question 4
A company's marketing mix involves a product that is unique in its features and benefits. Which of the following is a characteristic of a unique product?
A. It has a high level of customization.
B. It has a high level of standardization.
C. It has a high level of quality.
D. It has a high level of durability.
Question 5
A company's marketing strategy involves a mix of advertising and public relations. Which of the following is a key benefit of public relations in this context?
A. Increased brand awareness
B. Improved customer loyalty
C. Enhanced corporate reputation
D. Better product placement
Question 6
A company is considering the expansion of its operations to a new market. The company's current market share is 20%, and the new market is expected to be 10% of the total market. If the company's current revenue is ₦100 million, what is the expected revenue from the new market?
A. ₦10 million
B. ₦20 million
C. ₦30 million
D. ₦40 million
Question 7
A consumer protection agency has received a complaint about a company's unfair business practices. Which of the following is a key principle of consumer protection law?
A. Consumer sovereignty
B. Fair competition
C. Consumer information
D. Consumer education
Question 8
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. If the original price of a product is ₦500, how much will a customer pay if they are the 50th customer?
A. ₦400
B. ₦450
C. ₦500
D. ₦550
Question 9
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is a characteristic of a successful marketing strategy?
A. It must be consistent with the company's overall business objectives.
B. It must be tailored to the specific needs of the target market.
C. It must be implemented without any budget allocation.
D. It must be evaluated regularly to ensure its effectiveness.
Question 10
A consumer is considering the purchase of a product that costs ₦500. The consumer has a budget of ₦1000 and has already spent ₦300 on other products. What is the opportunity cost of purchasing the product?
A. ₦200
B. ₦300
C. ₦400
D. ₦500
Question 11
The Central Bank of Nigeria (CBN) uses the monetary policy instrument of Open Market Operations (OMO) to influence the money supply in the economy. What is the primary objective of OMO in the context of monetary policy?
A. To increase the money supply in the economy
B. To decrease the money supply in the economy
C. To maintain the stability of the exchange rate
D. To control inflation
Question 12
A company has a policy of paying its employees a 10% bonus on their annual salary. If an employee earns an annual salary of ₦200,000, what is the total amount of bonus paid to the employee?
A. ₦20,000
B. ₦22,000
C. ₦24,000
D. ₦26,000
Question 13
A sole trader's business is not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The sole trader is exempt from paying taxes.
B. The sole trader is not liable for any business debts.
C. The sole trader's business is not recognized by law.
D. The sole trader is not required to keep business records.
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, what is the total amount of share capital raised?
A. ₦200,000
B. ₦400,000
C. ₦600,000
D. ₦800,000
Question 15
A company has a warehouse with a capacity of 10,000 units. If the company receives a shipment of 5,000 units, what is the new inventory level?
A. 5,000
B. 10,000
C. 15,000
D. 20,000

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