POST UTME AL-HIKMAH UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
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 2
A business may choose to specialize in a particular product or service. What is the primary advantage of specialization?
A. To increase the business's market share
B. To reduce the business's production costs
C. To improve the business's quality control
D. To increase the business's efficiency
Question 3
A business may choose to use a just-in-time (JIT) inventory system. What is the primary benefit of JIT?
A. To reduce the business's inventory costs
B. To improve the business's quality control
C. To increase the business's production efficiency
D. To reduce the business's lead time
Question 4
A firm is considering implementing a new marketing strategy. Which of the following is a key benefit of using social media advertising?
A. Increased brand awareness
B. Improved customer engagement
C. Enhanced customer loyalty
D. All of the above
Question 5
A firm's marketing strategy involves creating a sense of exclusivity among customers to purchase a product. This strategy is an example of which of the following?
A. Scarcity principle
B. Limited-time offer
C. Free gift with purchase
D. Exclusivity principle
Question 6
A sole trader's business is considered a separate legal entity from its owner. However, in the event of a lawsuit, the owner's personal assets may be at risk. What is the name of this risk?
A. Unlimited Liability
B. Limited Liability
C. Joint Liability
D. Single Liability
Question 7
The _______ of a company refers to the process of managing its resources to achieve its objectives.
A. Strategic Planning
B. Resource Allocation
C. Risk Management
D. Decision Making
Question 8
A company's marketing strategy involves creating a sense of urgency among customers to purchase a product. This strategy is an example of which of the following?
A. Scarcity principle
B. Limited-time offer
C. Free gift with purchase
D. Price anchoring
Question 9
A sole trader's business is registered under which of the following?
A. Partnership
B. Company
C. Sole Trader
D. Limited Liability Partnership
Question 10
A company's _______ is the process of identifying and evaluating potential risks to its operations.
A. Risk Management
B. Strategic Planning
C. Resource Allocation
D. Decision Making
Question 11
A company's Articles of Association outlines its internal management structure. What is the primary purpose of this document?
A. To specify the company's ownership structure
B. To outline the company's business operations
C. To detail the company's financial transactions
D. To outline the company's internal management structure
Question 12
A firm has the following inventory levels: 100 units on hand, 50 units on order, and 200 units in transit. What is the total inventory level?
A. 250
B. 300
C. 350
D. 400
Question 13
A firm's production function is given by the equation ( Q = 2L^2 + 3K ), where Q is the quantity produced, L is the number of labor units, and K is the number of capital units. If the firm wants to produce 100 units of output, how many labor units are required if the capital units are 5?
A. 10
B. 15
C. 20
D. 25
Question 14
A marketing manager wants to increase the sales of a product by 20%. If the current sales are ₦500,000, what is the new sales target?
A. ₦600,000
B. ₦550,000
C. ₦500,000
D. ₦450,000
Question 15
A company's Memorandum of Association and Articles of Association are two primary documents that outline its structure and operations. What is the primary purpose of these documents?
A. To specify the company's ownership structure
B. To outline the company's business operations
C. To detail the company's financial transactions
D. To outline the company's internal management structure and primary objectives

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